MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHINA DIAMOND CORP LTD |
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Registered Office : |
Unit 502, 5FL Wing On House 71 Des Voeux Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.04. 2000 |
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Com. Reg. No.: |
0713048 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing Diamond Jewelry Set. |
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
CHINA
DIAMOND CORP LTD
UNIT 502, 5FL WING ON HOUSE
71 DES VOEUX RD CENTRAL, HONG KONG.
TEL: 852-25210029 FAX: 852-25210019
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 17, 2000
REGISTRATION NO. :
0713048
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DARSHAN JIVATLAL BHAGAT (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 1,655,607
BUSINESS LINE : MANUFACTURER
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 : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
HKD 7.78693 = US$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
*Company Registration*
==================
(1)
License number : 0713048
Date issued : 17
April, 2000
Issuing authority : Companies
Registry
Legal form : Private
Limited Company
Type of license : Corporate
(2)
License number : 30872168-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Office & Facilities*
===============
Previous address : Rm 902,
9Fl Prosperous Bldg 48-52 Des Voeux Rd, Central Hong Kong
*Capital Details*
============
Authorized capital : HKD 12,880,623.00 divided into 12,880,623 ordinary
shares at HKD 1.00/-each, fully paid
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.chinadia.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: info@chinadia.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 2
Total number of shares: 12,880,623
Shareholders Country
Number Amount (HKD) %
---------------------- ------------ ---------------- --------------------- -------
Mr. Darshan Jivatlal Bhagat India 8,372,405.00 8,372,405.00 65.00
Mr. Kung-wan Yau Hong Kong 4,508,218.00 4,508,218.00 35.00
*Company Secretary*
================
WISE SECRETARIES & NOMINEES LTD
Address : Suite A 19Fl Ritz
Plaza 122 Austin Rd Tsimshatsui Kowloon Hong Kong
CR number : 251964
Management: Mr. Darshan Jivatlal Bhagat, Managing Director
Name Nationality
Job Description
Mr. Darshan Jivatlal Bhagat Indian
Managing Director
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Darshan Jivatlal Bhagat
Nationality :
India
ID/Passport No. :
P015930(5)
Registered Address : Flat E,
41Fl Tower II Sorrento - Phase II 1 Austin Rd, West, Kowloon
Country of Residence : Hong
Kong
2
Name :
Mr. Kung-wan Yau
Nationality :
Hong Kong
ID/Passport No. :
H335446(8)
Registered Address : Flat
F, 42Fl Robinson Place 70 Robinson Rd, Hong Kong
Country of Residence : Hong
Kong
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Manufacturing diamond jewelry set.
2. Sales and distribution of manufactured products to local and
international market.
3. Also provides diamond polishing and cleaning services.
Products: Diamond cleaning
Diamond
polishing
Diamond set
jewelry
Jewelry
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
======================
Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains factory in China.
PAYMENT RATING : 4 OBTAINED SCORES :
49
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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 private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*BANK DETAILS*
===============
Bank Name : DAH
SING BANK LTD
Branch : Wanchai,
Hong Kong
Branch Address : 36Fl
Dah Sing Financial Center 108 Gloucester Rd Wanchai Hong Kong (Head
Office)
SWIFT Code :
DSBAHKHH
SC is considered small-sized in its line with an 8 years development
history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3911 Jewelry,
of precious metal
Exporting 3961 Jewelry
of materials other than solid gold, platinum & silver
Exporting 5094 Jewelry/Watches/Precious
Mtl
Manufacturing 3911 Jewelry,
of precious metal
Manufacturing 3961 Jewelry
of materials other than solid gold, platinum & silver
Manufacturing 5094 Jewelry/Watches/Precious
Mtl
Service 2842 Specialty
cleaning, polishing, and sanitary preparations
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7102 Diamonds,
worked or not, not mounted or set
Exporting 7102100000 Diamonds, unsorted
Exporting 7113 Articles
of jewelry & parts, of precious metal or clad
Manufacturing 7102 Diamonds,
worked or not, not mounted or set
Manufacturing 7102100000 Diamonds,
unsorted
Manufacturing 7113 Articles
of jewelry & parts, of precious metal or clad
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Service Diamond
cleaning
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to India
Importing from Asia
Importing from China
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)