MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
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 : |
Trading of 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/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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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. Martin Yeung (MANAGER)
STAFF STRENGTH :
10
CAPITAL :
US$ 2,992,327
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 7.82856 = US$1 AS OF 2007-8-6
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*
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(1)
License number : 0796009
Date issued : 2 May,
2002
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 32610085-000
Date issued : N/A
Issuing authority : Inland
Revenue Dept.
Type of license :
Business
*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
*Reputation*
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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.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders
: 3
Total number of ordinary shares : 23,400,000
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
--------------------------- ------------------------------- ---------------------------------- ----------------
Milan Amratlal Shah 9,945,000 9,945,000.00 42.50
TREASURE WORLD
INVESTMENT LTD 9,945,000 9,945,000.00 42.50
JOYSTAR INT'L INVESTMENT
HOLDINGS LTD 3,510,000 3,510,000.00 15.00
*Director's Details*
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(1)
Carlos Kwok-hing Yeung
HKID no : A620603(7)
Address : I12 Grenville House 1 Magazine Gap Rd, Hong Kong
(2)
Milan Amratlal Shah
HKID no. : R173007(9)
Address : 7Fl Ocean View Court
27A Chatham Rd South, Tsimshatsui, Kowloon
*Corporate Secretary*
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SILVER QUALITY CO LTD
Address : Rm 1403B, 9
Queen's Rd Central Hong Kong
Company no. : 199472
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
*Key Personnel*
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(1)
Martin Yeung
Education : Business
Administration Degree, PEPPERDINE UNIVERSITY, USA
Association : Member, Worldwide
Chinese Investors Association
(2)
Toto Chan
Education : Graduate, PARSONS
SCHOOL OF DESIGN, USA
Association : Member, Worldwide
Chinese Investors Association
*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.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
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 privately-owned 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 an acceptable base to come
into credit dealings of small amount.
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
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/normal. |
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%)