MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
VRITI DIAM |
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Registered Office : |
RM 3, |
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Country : |
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Date of Incorporation : |
19.01.2006 |
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Com. Reg. No.: |
36381925-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Importing of a wide range of jewelry and diamond. Sales and distribution to local and overseas market |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
COMPANY NAME
VRITI DIAM
RM 3, 6FL OCEAN VIEW COURT REAR PORTION 39-41 MODY RD, TSIM SHA TSUI NEW
TERRITORIES, HONG KONG
TEL: 852 27219709
FAX: 852 27219003
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 19, 2006
REGISTRATION NO. :
36381925-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
PRAFUL CHANDRA M. PATEL (CO-FOUNDER)
STAFF STRENGTH :
2
CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
AVERAGE
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
HKD 7.80672 = US$1 AS OF 2007-8-17
Adopted
abbreviations:
ANS - amount not stated
NS - not stated SC - subject
company (the company inquired by you)
NA - not available
M - million HKD Hong Kong
Dollars
*Office & Facilities*
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Previous address : Flat RP 9Fl
Ocean View Court 25-A Chathan Rd Tsimshatsui South Kowloon Hong Kong
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Partners' Name
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Bhavesh Narasi Patel
Praful Chandra M. Patel
*Company Directors*
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Based on corporate filing regulations for this type of entity in
*Key Personnel*
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Praful Chandra M. Patel
Founder : Co-Founder
National ID number : P4663091
Address : Flat C 5Fl
Relationship : Brother of Bhavesh Narasi Patel
Bhavesh Narasi Patel
Founder : Co-Founder
National ID number :
ZZ5204193
Address : Flat C 5Fl
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing of a wide range of jewelry and diamond.
2. Sales and distribution to local and overseas market.
Products :
Diamonds
Jewelry
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
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Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING :4 OBTAINED SCORES : 35
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Rating Key |
Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment pattern of SC
based upon our Payment Database, comments from suppliers of SC, information
from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a partnership company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a short operating history.
Credit dealings with SC are recommended under secured terms at present.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of precious metal
Trading 5094
Jewelry/Watches/Precious
Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102
Diamonds, worked or not,
not mounted or set
Trading 7113
Articles of jewelry &
parts, of precious metal or clad
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to UAE
Exporting to
Importing from
Importing from
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SCs credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)