MIRA INFORM REPORT

 

 

 

Report Date :

20.10.2008

 

IDENTIFICATION DETAILS

 

Name :

EURA-DIAM  (H.K.)  LTD.

 

 

Registered Office :

Room 1201, 12/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

24.03.1992.

 

 

Com. Reg. No.:

15487992

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Jewellery (Platinum, Gold, Gemset and Diamond), etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

name of the company

 

EURA-DIAM  (H.K.)  LTD.

 

 

ADDRESS

 

c/o KBS Design Ltd.

Room 1201, 12/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

PHONE:                  2765 0988

FAX:                       2765 0788

 

[Your enquiry given as: EURA DIAM (HK) LTD of the same address]

 

MANAGEMENT

 

Managing Director:  Mr. Sanjay Nagindas Mehta

 

 

SUMMARY

 

Incorporated on:             24th March, 1992.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$1,000,000.00

Issued:              HK$500,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   10.  (Including associates)

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:            Satisfactory.

 ADDRESS

 

Registered Head Office:-

c/o KBS Design Ltd.

Room 1201, 12/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

Associated Companies:-

Design By KBS Ltd., Hong Kong.  (Same address)

KBS Design Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

15487992

 

 

COMPANY FILE NUMBER

 

350613

 

 

MANAGEMENT

 

Managing Director:  Mr. Sanjay Nagindas Mehta

 

 

CAPITAL

 

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$500,000.00

 

SHAREHOLDER

(As per registry dated 24-03-2008)

 

Name

 

No. of shares

Sanjay Nagindas MEHTA

 

500,000

======

 

DIRECTOR

(As per registry dated 24-03-2008)

 

Name

(Nationality)

 

Address

Sanjay Nagindas MEHTA

Flat D, 13/F., Regal Court, 94-96 Waterloo Road, Ho Man Tin, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 24-03-2008)

 

Name

Address

CHEUNG Mei Yuk

Room 1201, 12/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 24th March, 1992 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                                    Importer, Exporter and Wholesaler.

 

Lines:                                       Jewellery (platinum, gold, gemset and diamond), etc.

 

Employees:                                10.  (Including associates)

 

Commodities Imported:               India, European countries.

 

Markets:                                  Southeast Asia, Europe, North America, etc.

 

Terms/Sales:                             As per contracted.

 

Terms/Buying:                            L/C, T/T, D/P, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$500,000.00

 

Profit & Loss:          Making a very small profit.

 

Condition:                Business is normal.

 

Facilities:                Adequate for current running.

 

Payment:  Met trade commitments as contracted.

 

Commercial Morality:  Satisfactory.

 

Banker:  The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:  Normal.

 

 

GENERAL

 

Having issued 500,000ordinary shares of HK$1.00 each, Eura-Diam (H.K.) Ltd. is wholly-owned by Mr. Sanjay Nagindas Mehta who is an Indian.  Mr. Mehta is also director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is a loose diamond trader.  Most of the commodities are imported from India and European countries.

The subject got an associated company KBS Design Ltd. [KBS Design], Hong Kong, located at its operating address.  In fact, the office is chiefly used by KBS Design.  It is likely that KBS Design is one of the main customers of the subject.

Currently, KBS Design has got a factory in China bearing the same name.  China KBS Design is in Guangdong Province, China, employing about 80 persons.  KBS Design is engaged in manufacturing Jewellery (platinum, gold, gemset and diamond), etc.  Products are exported to Southeast Asia, Europe, North America, etc.  Business is normal.

The business of the subject and KBS Design is handled by Mr. Joseph Ho‑Man Cheung who is the Sales Manager.

As the subject has a history in Hong Kong over eighteen years, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions