MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMDIMON HK LTD. |
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Registered Office : |
RM 2001 and
2008, 20/F, Empress Plaza, 17-19 Chath Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
3.9.1997 |
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Com. Reg. No.: |
622660 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Polished Diamond and Jewellery. |
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
SAMDIMON
HK LTD.
RM 2001 AND 2008,
20/F, EMPRESS PLAZA, 17-19 CHATH
TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852
27232029 FAX: 852
27237480
EXECUTIVE SUMMARY
INCORPORATION DATE :
3-9-1997
REGISTRATION NO. :
622660
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. JAIN SHAILESH GANMAL (DIRECTOR)
STAFF STRENGTH :
10
AUTHORIZED CAPITAL :
HK $1M =1M SHARES @ HK$1.-
PAID-UP
CAPITAL :
HK $1M
BUSINESS LINE : TRADING OF POLISED DIAMOND
& JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80395 = USD 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
SC is a private limited company registered under incorporation file no.
622660 on 3-9-1997.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 3-9-2007) Number
of shares held
- Metha Bharatkumar Girdharlal 50,000
- Jain Shailesh Ganmal 50,000
- Risingmoon Enterprises Ltd. 900,000
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1,000,000
==========
Director(s) (as at 3-9-2007)
- Jain Shailesh Ganmal / P123358(4)
- Metha Bharatkumar Girdharlal / P229201(5)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 10.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,500
square feet at commercial building in commercial district.
Condition inside the premises during our
visit: normal.
Office/factory layout: standard.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): SC
- Date of purchase / consideration: 10-5-2000 / HK $4,000,000
- Date of mortgage / secured amount: 10-5-2000 / ANS
- Mortgagee : ABN AMRO Bank N.V.
Jain Shailesh Ganmal, director
- In his late 40's
- He has over 15 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Metha Bharatkumar Girdharlal, director:
- In his late 40's
- He has over 15 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as heading business address.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2 Obtained scores : 62 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors which
carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 3-9-2007 was NA.
Banking relations are maintained principally with: ABN AMRO Bank N.V.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database),
and the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges
by an unlimited co is not required to be registered in the public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2000-2003, 2006
Year(s) in which mortgage satisfaction record(s) are filed: 2006
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
Business categories:
SC is engaged in trading of polished diamond & jewellery.
Principal purchases:
Major
types of sourcing : merchandise
Local--type
of suppliers : importers
Buying
terms : COD
& credit of 30-60 days
Overseas--supplying
countries : Europe and Middle East
Buying
terms : L/C and
open account of 30-60 days
Principal market:
Local--type
of customers : manufacturers and
wholesalers
Selling
terms : COD and
credit of 30-60 days
Overseas--buying
countries : SE Asia
Selling
terms : L/C and open
account of 30-60 days
SC is not known to have any subsidiary at
present.
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements. Credit in the range of small amount
can be considered.
Current land search indicated SC was involved in the following property
transactions:
Address: Unit 3, 8/F, Harbour Centre Tower 2, 8 Hok Cheung St, Hunghom,
Kln., HK.
Assignor: SC
Assignee: Grand Capital (HK) Ltd.
Date of disposal & amount: 31-10-2006 / HK $10,947,500
Address: Car parking space No. 17 on 1/F of Tower 2, Harbour Centre, 8 Hok
Cheung St., Hunghom, Kln., HK.
Assignor: SC
Assignee: Grand Capital (HK) Ltd.
Date of disposal & amount: 31-10-2006/ HK $389,271
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%)