MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEVEN STARS DIAMOND |
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Registered Office : |
Block B, 8/F., Wing Lee Building, 27-33 Kimberley Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.06.1997. |
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Com. Reg. No.: |
20996675-000-06 |
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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 Precious Stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
SEVEN STARS
DIAMOND
ADDRESS
Block B, 8/F., Wing Lee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
(Your enquiry given as: SEVEN STAR with the old address at: Block E, 5/F. of the same building.)
MANAGEMENT
Manager: Mr. Sanjeev Maheshwari
SUMMARY
Establishment: 5th June, 1997.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Head Office:-
Block B, 8/F., Wing Lee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
20996675-000-06
MANAGEMENT
Manager: Mr. Sanjeev Maheshwari
SOLE PROPRIETOR
Name: Mr. Sanjeev MAHESHWARI
Residential Address: Flat
F & G, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was established on 5th June, 1997 as a sole proprietorship concern owned by Mr. Sanjeev Maheshwari under the Hong Kong Business Registration Regulations.
Originally the subject was registered under the name of Crystal Impex, name changed to Seven Stars. on 15th September, 1997 and further changed to the present style on 28th March, 2007.
The subject became a partnership on 26th March, 2003 as Mr. Ashish Pareek, who is also an Indian, joined in as a partner. However, Mr. Pareek retired on 31st August, 2004. The subject has become a sole proprietorship again since then.
Initially the subject was located at Flat F & G, 16/F., Star Mansion, 3‑5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 2, 11/F., Ocean View Court, 27 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in July 1997; to Flat 1-2, 9/F., Block E, Wing Lee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in December 1999; to Flat J, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong in December 2001; to Flat D, 4/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in April 2003; to Block E, 5/F., Wing Lee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in December 2004; and further moved to Block B, 8/F. of the same building in March 2007.
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 precious stones.
Employees: Nil.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, India, other Asian countries, etc.
Annual Turnover: Small amount.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a very small profit every year.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
GENERAL
At the very beginning, Seven Stars Diamond was known as Crystal Impex. Name changed to Seven Stars. on 15th September, 1997 and further changed to the present style on 28th March, 2007.
The subject was set up and owned by Mr. Sanjeev Maheshwari who is an Indian. He is also a Hong Kong ID Card holder.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject does not have its own operating office. Its registered address is in the residence of the sole proprietor. It is likely that the subject’s new registered address is the new residential address of the sole proprietor although the materials have not been updated with the Inland Revenue Department Business Registration Office of the Hong Kong SAR Government. The subject’s business is not very active in Hong Kong.
Business commenced in June 1997, the subject is trading in loose diamonds, precious stones, gem sets, semi-precious stones, blue or coloured sapphire, etc. Raw materials are imported from India, Belgium and other European countries, etc. Some of the raw diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are exported to Japan, India and other Asian countries.
The subject is just a one-man-company. Did not make much profits in the past years.
Business handled by Mr. Sanjeev Maheshwari himself, the subject has no employees in Hong Kong.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for 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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)