MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIMPLEX DIAM LTD |
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Registered Office : |
RM 1401-2, 14FL Nine Queen's Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.05.2002 |
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Com. Reg. No.: |
0796009 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Jewelry and Precious Stones. |
RATING &
COMMENTS
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MIRA’s 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 : |
No Complaints |
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Litigation : |
Clear |
name & address
SIMPLEX
DIAM LTD
RM 1401-2, 14FL NINE QUEEN'S RD CENTRAL HONG
KONG
TEL: 852- 25226131 FAX: 852-28453470
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
2, 2002
REGISTRATION NO. :
0796009
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. MILAN AMRATLAL SHAH (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 2,996,159
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80129 = US$1
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
*OTHER LICENSE*
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License Number : 32610085-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Capital Details*
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Authorized capital : HKD 23,400,000.00 divided into 23,400,000 ordinary
shares at HKD 1.00/-each, fully paid
*Approved Signatures*
===================
Carlos Kwok-hing Yeung can sign on behalf of the company with seal
affixed.
www.simplexdiam.net
The design is professional and the content is well organized. At present it is
in English version.
E-mail: fairway@simplexdiam.net
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders : 3
Total number of shares : 23,400,000
Shareholders Cuntry Number Amount (HKD) %
Mr. Milan Amratlal Shah India
9,945,000.00 9,945,000.00 42.50
TREASURE WORLD Hong
Kong 9,945,000.00 9,945,000.00 42.50
INVESTMENT LTD
JOYSTAR INT'L
INVESTMENT HOLDINGS LTD Hong Kong 3,510,000.00 3,510,000.00 15.00
*Corporate Secretary*
=================
SILVER QUALITY CO LTD
Address : Rm 1403B, 9
Queen's Rd Central Hongkong
Company no. : 199472
E-mail :
kkyp@kkyeung.com
Management: Mr. Martin Yeung,
Manager
Mr. Toto Chan, Manager
Name Nationality
Job Description Dept. / Division
Mr. Martin Yeung Hong
Kong Manager Sales
Mr. Toto Chan Hong
Kong Manager Sales
*COMPANY DIRECTORS*
=====================
1
Name :
Mr. Carlos Kwok-hing Yeung
Nationality :
Hong Kong
ID/Passport No. :
A620603(7)
Registered Address : I12
Grenville House 1 Magazine Gap Rd ,Hong Kong
Country of Residence : Hong
Kong
2
Name :
Mr. Milan Amratlal Shah
Nationality :
Indian
ID/Passport No. :
R173007(9)
Registered Address : 7Fl
Ocean View Court 27A Chatham Rd South ,Tsimshatsui ,Kowloon ,Tsimshatsui
Country of Residence : Hong
Kong
*Main Products & Services*
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Specializes in trading of jewelry and precious stones.
Products: Jewelry
Precious
stones
Watches
*Payment Terms*
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Sales
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Local : Cash or credit
Purchases
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Local : Cash or credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name :
FAIRWAY DIAMOND CO LTD
Country :
Hong Kong
Relationship
: Affiliate
Legal Form :
Private company with limited liability
Company Type :
Trader
Industry :
Giftware & Jewellery
Company Name :
GALAWALA DIAMONDS
Address : Opera House
Panchratana MP Marg Mumbai (Bombay) 400004 Maharashtra India
Country :
India
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Trader
Industry : Giftware & Jewellery
Company Name :
SIMPLEX DIAM NV
Address :
Rm 823 Hoveniersstraat 30 Bus 208 Antwerpen 2018 Belgium
Country :
Belgium
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Trader
Industry :
Giftware & Jewellery
Company Name :
VAISHALI DIAMOND CORP
Address :
Suite 1475, 579, 5th Ave New York 10017 New York USA
Country :
USA
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Trader
Industry :
Giftware & Jewellery
PAYMENT RATING :4 OBTAINED SCORES :
48
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Implication |
Implications |
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1 |
Scores 85–100 |
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 private limited 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 development history of 6 years.
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 7103 Precious
& semiprec stones, not strung etc
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry
of precious or semiprecious stones
Trading 9101 Watches,
wrist, pocket etc, prec metal or clad case
Trading 9102 Watches,
wrist, pocket etc, case not prec nor clad
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.37 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.65.96 |
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 SC’s 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%)