MIRA
INFORM REPORT
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Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NANCY DIAM |
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Registered Office : |
Flat L1, 12/F., Summit Building, 30 Man Yue Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.09.2003 |
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Com. Reg. No.: |
33914379-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of Loose Polished Diamonds, Diamond Jewellery, Luxury Watches, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
NANCY DIAM
ADDRESS
Flat L1, 12/F.,
Summit Building, 30 Man Yue Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2311 5052
FAX: 2311 5053
MANAGEMENT
Manager: Mr. Nilesh Sambhubhai Italiya
SUMMARY
Establishment: 18th September, 2003.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond and Jewellery Trader.
Group Annual Turnover: HK$190-200 million.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Flat L1, 12/F.,
Summit Building, 30 Man Yue Street, Hunghom, Kowloon, Hong Kong.
Affiliated Company:-
Manee Diam Co. Ltd.
322/54
Surawongwattanakarn, 22nd Floor, Suite-B, Surawongse Road, Sipraya, Bangrak,
Bangkok 10500, Thailand.
[Tel 66 2631 8990 (4 lines)
Fax: 66 2631 8996
E-mail: maneediam@yahoo.com]
BUSINESS REGISTRATION NUMBER
33914379-000-09
MANAGEMENT
Manager: Mr. Nilesh Sambhubhai Italiya
SOLE PROPRIETOR
Name: Mr. Nilesh Sambhubhai ITALIYA
Residential
Address: Flat E, 2/F., Universal Mansion, Phase 1, 52 Hillwood Road,
Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was
established on 18th September, 2003 as a sole proprietorship concern owned by
Mr. Nilesh Sambhubhai Italiya under the Hong Kong Business Registration
Regulations.
At the very
beginning, the subject was located at Flat E, 2/F., Universal Mansion, Phase 1,
52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat A, 6/F., Tung
Wui Building, 46-48 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in January
2007 and further to the present address in July 2008.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Loose polished
diamonds, diamond jewellery, luxury watches, etc.
Employees: 3.
Commodities
Imported: Europe, US, etc.
Markets: Thailand, Hong Kong, China,
Vietnam, the Philippines, Malaysia, Singapore, India, US, Russia, Turkey, etc.
Group Annual
Turnover: HK$190-200 million.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: As
per contracted.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Bangkok Bank Public Co. Ltd., Hong Kong Branch.
Standing: Normal.
GENERAL
Nancy Diam is a
sole proprietorship set up and owned by Mr. Nilesh Sambhubhai Italiya who is an
Indian. Most of the time, he is residing
in Bangkok, Thailand.
The subject is an
affiliate of Manee Diam Co. Ltd. [Manee Diam] which was established in Bangkok,
Thailand. Incorporated in March 2003
under the leadership of Mr. Nilesh S. Italiya and Mr. Prakash S. Italiya, Manee
Diam has been a diamond manufacturing, exporting and importing company since
1972. Manee Diam started its operation
from world’s biggest diamond manufacturing cities Surat and Mumbai in India.
Now, Manee Diam is
the Thailand’s leading provider of white colour natural polished diamond. Being a major player on the international
diamond stage. Manee Diam has had
manufacturing unit in Surat, India. It
is providing customers with quality diamonds utilizing state of the art
equipment.
Manee Diam serves
the customers across the Asia (including strong bases in Thailand, Hong Kong,
China and Vietnam), the Middle East, Europe, the United States, etc.
The subject is
engaged in the same lines of business as Manee Diam. The subject is the business hub of Asia of the Group and is
trying to expand the Group’s business.
Manee Diam
commenced to trade in luxury watches.
The annual sales
turnover of the Group ranges from HK$190 to 200 million. Overall business is good.
The subject is
fully supported by the Group.
On the whole, consider
the subject good for normal business engagements.
COURT CASES: None
per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)