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MIRA
INFORM REPORT
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Report Date : |
01.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
D. N. DIAMONDS (HK) LTD. |
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Registered Office : |
UNIT K2, 11/F, Summit Bldg., 30 Man Yue St. Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.11.2006 |
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Com. Reg. No.: |
1091797 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Trading of 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 : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
D.
N. DIAMONDS (HK) LTD.
UNIT K2, 11/F,
SUMMIT BLDG., 30 MAN YUE ST. HUNGHOM, KLN., HONG KONG
TEL: 852 3693
4141 FAX: 852 3693 4142
EXECUTIVE SUMMARY
INCORPORATION DATE : 30-11-2006
REGISTRATION NO. :
1091797
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. RANGANI PANKAJKUMAR PUNABHAI (DIRECTOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL :
HK $10,000 = 10,000 SHARES @ HK $1.-
PAID-UP
CAPITAL : HK
$10,000
BUSINESS LINE :
MANUFACTURE & TRADING OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NOT YET DETERMINED
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : NOT YET DETERMINED
EXCHANGE RATE :
HKD 7.80045 = 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
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SC is a private limited company registered under incorporation file no.
1091797 on 30-11-2006.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 30-11-2007) Number
of shares held
- Ambaliya Dilipbhai Devshibhai 10,000
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Director(s) (as at 30-11-2007)
- Rangani Pankajkumar Punabhai / R594847 (8)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Change of business address: SC moved to the heading business address
from Flat B, 2/F, King's Court, 48-52 Fort St., North Point, HK in late 2006.
Total number of employees: 3.
Location: Maintaining
its office & warehouse at the heading business address which occupies a
gross area of 1,200 square feet at an industrial building in an industrial
district.
Condition inside the premises during our visit: Normal.
Office/factory layout: Standard.
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Rangani Pankajkumar Punabhai, director:
- In his mid 50's
- He has over 10 years of experience in jewellery industry
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: Flat 1, 11/F, Ocean View Court, 27
Chatham Road South, Tsim Sha Tsui, Kln., HK.
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 : 53 (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.
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Upon a current contact, Frankie, SC's administrator, 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.
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 30-11-2007 was nil.
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Banking relations are maintained principally with: HSBC.
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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 since its incorporation date.
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Overall payment appraisal:
( ) Excellent (
) Good ( ) Average ( ) Fair (
) Poor (X) 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: Owing to the nature of its
operation, SC is not an active seeker of local commercial credit. Its expenses
in the form of accruals and servicing are reportedly met in a prompt manner.
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.
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Business categories:
SC is engaged in manufacturing & trading of jewellery.
Items available include diamond, rings, earrings, bracelets, necklaces
& pendants.
Production is assigned to its affiliated factory/joint venture factory
located at India.
Principal purchases:
Major
types of sourcing :
Merchandises
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (its affiliate)
Buying
terms :
Intercompany account basis
Principal market:
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD, credit
of 30 to 60 days & special agreed terms
Overseas--buying
countries : Nil
Selling
terms : Nil
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SC's affiliates locate in United Arab Emirates, Belgium & India
(Surat).
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): Jewels Era (H.K.) Ltd.
- Date of purchase / consideration: 18-4-2008 / HK $3.1M
- Date of mortgage / secured amount: 18-4-2008 / ANS
- Mortgagee: China Construction Bank (Asia) Corporation Ltd.
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SC is considered a new concern just starting with a comparatively
limited track record in its performance.
Credit should be confined to small amount at present.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)