MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
4C’S DIAMONDS
DISTRIBUTORS |
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Registered Office : |
Room 1724A, 17/F., Star House, |
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Country : |
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Date of Incorporation : |
11.03.1988. |
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Com. Reg. No.: |
11655488-000-03 |
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Legal Form : |
Partnership. |
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Line of Business : |
Importer, Distributor and Wholesaler of all kinds of Diamonds, 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
4C’S
DIAMONDS DISTRIBUTORS
ADDRESS
c/o Diamart Ltd.
Room 1724A, 17/F.,
Star House,
PHONE: 2877 3191
FAX: 2801 4925
E-MAIL: jayesh@netvigator.com
MANAGEMENT
Manager: Mr. Amit Haresh Kumar Patwa
SUMMARY
Establishment: 11th March, 1988.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Distributor.
Employees: 8. (Including affiliates)
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
c/o
Diamart Ltd.
Room 1724A, 17/F.,
Star House,
Affiliated Companies:- (Same address)
Diamart Ltd.,
Digico Holdings
Ltd.,
Trans Exim Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
11655488-000-03
MANAGEMENT
Manager: Mr. Amit Haresh Kumar Patwa
PARTNERS
Name: Mr. Amit Haresh Kumar PATWA
Residential
Address: Flat G, 7/F.,
Name: Mr. Hitesh Laltibhai MEHTA
Residential
Address:
HISTORY
The
subject was established on 11th March, 1988 as a partnership concern jointly
owned by Mr. Chetan Chinubhai Choksi and Mr. Jayeshkumar Indravadan Shah under
the Hong Kong Business Registration Regulations.
The
following table shows the changes of the partners:-
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Name |
Incoming Date |
Outgoing Date |
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Chetan Chinubhai Choksi |
11-03-1988 |
01-04-1997 |
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Jayeshkumar Indravadan Shah |
11-03-1988 |
01-04-2000 |
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Nishit Dinesh Mehta |
23-03-1993 |
15-11-2000 |
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Amit Haresh Kumar Patwa |
01-04-2000 |
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Nilesh Ratilal Sedani |
15-11-2000 |
15-11-2003 |
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Hitesh Laltibhai Mehta |
15-11-2000 |
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Initially
the subject was located at A-3, 9/F., Hankow Centre, 41-51 Peking Road, Tsimshatsui,
Kowloon, Hong Kong, moved to Room 1101, 11/F., Century Square, 1-13 D’Aguilar
Street, Central, Hong Kong in November 1993; to Room 1724, 17/F., Star House, 3
Salisbury Road, Tsimshatsui, Kowloon, Hong Kong in June 2000; to Flat G, 7/F.,
Kim Hing Mansion, 49‑51 Kimberly Road, Tsimshatsui, Kowloon, Hong Kong in
February 2002; to Flat 5, 9/F., Kiu Fung Mansion, 18 Austin Avenue,
Tsimshatsui, Kowloon, Hong Kong in May 2003; and further moved to the present
address in April 2007.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Distributor and Wholesaler.
Lines: All kinds of diamonds, etc.
Employees: 8. (Including affiliates)
Commodities Imported:
Markets: Hong Kong, other Asian countries,
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a very small profit.
Condition: Business is fairly active.
Facilities: Making rather active use of general
banking facilities.
Payment: Met as required.
Commercial
Morality: Satisfactory.
Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Standing: Small.
GENERAL
4C’s
Diamonds Distributors is a partnership jointly owned by Mr. Amit Haresh Kumar
Patwa and Mr. Hitesh Laltibhai Mehta.
Both of whom are Indian.
The
subject is sharing the operating office with the following firms:-
Diamart
Ltd.
Digico
Holding Ltd.
Trans
Exim Ltd.
The
subject is engaged in importing and wholesaling polished and rough diamonds
from
The
subject has got an affiliated factory in
The
subject’s affiliated company Trans Exim Ltd. [Trans Exim] is also a diamond
trader. Having issued 1 million ordinary
shares of HK$1.00 each, Trans Exim is jointly owned by Mr. Amit Haresh Kumar
Patwa, holding 60%, and Mr. Zenit Chetan Kumar Shah, holding 40%. Being Indian, the two shareholders are also
directors of Trans Exim. Mr. Patwa has
been in
In
2005, Trans Exim got an award from The Gem & Jewellery Export Promotion
Council of India.
Mr.
Shah is responsible for acquiring products in
The
business of the subject is fairly active.
On the whole,
consider the subject good for small 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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)