MIRA INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
K DIAM |
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Registered Office : |
Flat 3, 16fl Prat Mansion - Block B 23-36 Prat Ave, Tsimshatsui
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
34128892 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importing of Loose Diamonds. |
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
K DIAM
FLAT 3, 16FL PRAT MANSION - BLOCK B 23-36 PRAT AVE
TSIMSHATSUI KOWLOON HONG KONG
TEL: 852- 23695550 FAX:
852-23691550
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER 9, 2003
REGISTRATION NO. :
34128892
LEGAL FORM :
SOLE PROPRIETORSHIP
CHIEF EXECUTIVE :
MR. RAHUL BIPIN VARAIYA (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 1,284
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 : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
HKD7.80423 = 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
*Company Registration*
==================
License number : 34128892
Date issued : 9 December,
2003
Issuing authority : Inland
Revenue Department
*Corporate & Organization Structure*
===========================
A small-sized company operated and managed by the owner.
*Reputation*
==========
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.
E-mail: kdiam@rediffmail.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for
public disclosure of Shareholders.
Management: Mr. Bhautesh Shah,
Officer
Mr. Rahul Bipin Varaiya, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Bhautesh Shah Hong
Kong Officer Administration
Mr. Rahul Bipin Varaiya Indian General Manager -
*Key Personnel*
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Mr. Rahul Bipin Varaiya
Founder : Sole
Founder
HKID no :
ZZ6992756
Resident status : India
Address : 201 Shilp
Apartments Opp Gokulam Dairy Athwalines Sorat
Work experience : More than 5
years
Responsibility : Handles the
daily operation of the firm including all financials and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of loose diamonds.
2. Selling of imported products to local and overseas markets.
Products: Loose diamonds
*Payment Terms*
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Sales
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Local : Cash
30-90 days 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)
*Exhibition Participation*
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(1)
Exhibition fair : Hong Kong
Int'l Jewelry Manufacturers Exhibition
Date attended : 6-9 March,
2006
Location : Hong Kong
Convention and Exhibition Centre
(2)
Exhibition fair : Hong Kong
Int'l Jewellery Show 2007
Year attended : 2007
*Imports*
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100% of the products are imported from Belgium and India.
*Local Distribution Network*
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50% of the annual turnover is attributed to local sales.
*Export Markets*
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50% of the annual turnover is attributed to export
SC is not known to have any subsidiary at
present.
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 sole proprietorship there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank : HANG SENG BANK
LTD
Branch : Tsimshatsui
Swift code : SCBLHKHH
SC
is considered small-sized in its line with a development history of 5 years.
Attachment:
Trade References
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
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
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Exporting,Importing
Belgium Importing
China Exporting
India Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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%)