MIRA
INFORM REPORT
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Report Date : |
14.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
JHALAK DIAM |
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Registered Office : |
Unit 512A, 5/F., Fu Hang Industrial Bldg., 1 Hok Yuen Street East,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
8.3.2000 |
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Com. Reg. No.: |
30749135 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of Diamond |
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
JHALAK
DIAM
UNIT 512A, 5/F.,
FU HANG INDUSTRIAL BLDG., 1 HOK
YUEN STREET EAST, HUNGHOM, KLN., HONG KONG.
TEL: 852 23673947
/ 23664702 FAX: 852
23673916
EXECUTIVE SUMMARY
INCORPORATION DATE :
8-3-2000
REGISTRATION NO. :
30749135
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : MR. SHAH SUNIL DHANVANTLAL (SOLE PROPRIETOR)
STAFF STRENGTH :
5
AUTHORIZED CAPITAL : N/A [IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE
ITS
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT APPLICABLE
BUSINESS LINE
: TRADING OF DIAMOND
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 7.78091 = 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 was established under Business Registration number 30749135 on
8-3-2000 with present status as sole proprietorship.
Currently obtained BR copy indicates the particulars of SC's
principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Shah Sunil Dhanvantlal / P1591987 Blk D, 6/F,
Bo Yip Bldg.,
6
Ashley Road, Tsimshatsui,
Kowloon,
Hong Kong.
Change of business address: SC moved to the heading business address
from Room 1702, Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Sha Tsui, Kln., HK. on
15-1-2008.
Total number of employees: 5.
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,000
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
Shah Sunil Dhanvantlal, sole proprietor:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations & is responsible for
its management.
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
Ownership background appraisal:
Rating : 3 Obtained scores : 55 (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.
Upon a current contact, Shah Sunil Dhancantlal, SC's sole proprietor,
declined forwarding any financial information on the ground that it is the
company's policy not releasing any data to a third party without the benefit of
knowing the identity of the inquiring party.
Banking relations are maintained principally with: Bank of India &
Bank of China (HK) Ltd.
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): In HK, unlimited companies are not
required to file its charge particulars for public inspection.
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.
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 diamond.
Items available include ruby, sapphire, emerald, citrine, peridot,
garnet & tahzanite.
Principal purchases:
Major
types of sourcing :
Merchandise
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India, Brazil, Columbia,
Zambia SE Asia & South Africa
Buying
terms : T/T
& L/C
Principal market:
Local--type
of customers : Manufacturers &
retailers
Selling
terms : COD &
credit of 7 to 30 days
Overseas--buying
countries : North America, Western
Europe, other Asian countries
Selling
terms : L/C &
T/T
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line locally with an 8 years
development history. Credit dealings
with SC should be confined into small amount at present.
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%)