MIRA
INFORM REPORT
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Report Date : |
10.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
S. R.
DIAMONDS |
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Registered Office : |
Room 802, 8/F., Supreme House, 2-A Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.12. 2005 |
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Com. Reg. No.: |
36287042-000-12 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Diamonds and Jewellery Products,
Emerald, Precious Stones, etc |
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 of the company
S. R. DIAMONDS
ADDRESS
Room 802, 8/F.,
Supreme House, 2-A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 9641
MANAGEMENT
Manager: Mr. Sanjay Motilal Shah
SUMMARY
Establishment: 15th December, 2005.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Room 802, 8/F., Supreme
House, 2-A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
36287042-000-12
MANAGEMENT
Manager: Mr. Sanjay Motilal Shah
SOLE PROPRIETOR
Name: Mr. Sanjay Motilal SHAH
Residential
Address: Flat B, 8/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
HISTORY
The subject was
established on 15th December, 2005 as a sole proprietorship concern owned by
Mr. Sanjay Motilal Shah under the Hong Kong Business Registration Regulations.
Initially the
subject was located at Flat B, 8/F., Union Mansion, 33‑35 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
March 2006.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery products,
emerald, precious stones, etc.
Employee: 1.
Commodities
Imported: India, Belgium,
other European countries, etc.
Markets: Japan, other
Asian countries, etc.
Terms/Sales: L/C.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Made a very small profit in 2007.
Condition: Business is fairly active.
Facilities: Banking facilities are used not very actively.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
S. R. Diamonds is
a sole proprietorship set up in December 2005 and owned by Mr. Sanjay Motilal
Shah who is an Indian.
Mr. Shah is a Hong
Kong ID Card holder and has got the right to reside in Hong Kong permanently.
Formerly the
subject was located at Mr. Shah’s residential address, moved to the present
address in March 2006.
Currently, the
subject has rented the office from another diamond trading firm known as
Hesperus Jewellery Co. Ltd. [Hesperus].
Hesperus is owned by a Hongkongnese.
It is an affiliated company of Noble Jewelry Holdings Ltd. which is a
listed firm in Hong Kong bearing stock code 475. The subject has nothing to do with Hesperus.
The subject is a
diamond importer, exporter and wholesaler.
It is trading in loose diamonds, emerald, precious stones, ruby jade,
gem stones, semi-precious stones, etc.
Raw materials are imported from India, Belgium, other European
countries, etc. Rough diamonds are
processed in Hong Kong or China, while finished products are exported to Japan
and the other Asian countries, Europe.
Overall business is just fairly satisfactory.
Business handled
by Mr. Shah himself, the subject just has a single employee.
The subject is a
small diamond trading firm having a history of less than three years.
On the whole,
consider it good for normal business engagements on L/C basis.
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.47.33 |
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UK Pound |
1 |
Rs.74.20 |
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Euro |
1 |
Rs.60.73 |
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%)