MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
APEX DIAMONDS |
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Registered Office : |
Room 1505, 15/F., Peninsula Square, 18 Sung On Street, Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.01.1991 |
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Com. Reg. No.: |
14192841-000-01 |
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Legal Form : |
Partnership. |
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Line of Business : |
Importer, Exporter and Wholesaler All kinds of Diamonds, Precious Stones, Jewellery, etc. |
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
APEX
DIAMONDS
ADDRESS
Room 1505, 15/F.,
Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2314 4953 (2 lines)
FAX: 2314 4956
E-MAIL: apexdiam@hknet.com
(Formerly located at:
Room 1407, 14/F.,
Hart Avenue Plaza,
5-9 Hart Avenue,
Tsimshatsui,
Kowloon, Hong
Kong.)
MANAGEMENT
Manager: Mr. Sunil Sumatilal Shah
SUMMARY
Establishment: 7th January, 1991.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1505, 15/F.,
Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
14192841-000-01
MANAGEMENT
Manager: Mr. Sunil Sumatilal Shah
PARTNERS
Name: Mr. Sunil Sumatilal SHAH
Residential Address: Flat
G, 2/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Nita Sunil SHAH
Residential Address: 7/F.,
Dragon House, 7A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was
established on 7th January, 1991 as a sole proprietorship concern owned by Mr.
Sunil Sumatilal Shah under the Hong Kong Business Registration
Regulations. It became a partnership on
1st April, 2004 as Mr. Nita Sunil Shah was admitted as a partner.
At the very
beginning, the subject was located at Flat G, 2/F., Union Mansion, 33-35
Chatham Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address
of Mr. Sunil Sumatilal Shah, moved to 14/F., Chun Fook Mansion, 1 Hillwood
Road, Tsimshatsui, Kowloon, Hong Kong in February 1995; to Room 1502,
15/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in
July 1997; to Room 1407, 14/F. of the same building in May 2005; and further to
the present address in May 2008.
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, precious stones, jewellery, etc.
Employees: 5.
Commodities Imported: India, Europe, etc.
Markets: Hong Kong, US, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
MEMBERSHIP
The Federation of
Hong Kong Watch Trades & Industries Ltd., Hong Kong.
The Indian Chamber
of Commerce Hong Kong, Hong Kong.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in a normal state.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Apex Diamonds is a
partnership concern jointly owned by Mr. Sunil Sumatilal Shah and Mr. Nita
Sunil Shah. The two Shahs are Indian
who have been in Hong Kong for a very long time.
The subject is a
diamond and jewellery product trader.
Raw materials are imported from India and other European countries. Rough diamonds are processed and polished in
Hong Kong. Polished and cut diamonds
are wholesaled in Hong Kong and exported to the United States and other Asian
countries. Business is rather active
and steady.
The subject is a
member of The Indian Chamber of Commerce Hong Kong, and The Federation of Hong
Kong Watch Trades & Industries Ltd., Hong Kong, respectively.
The subject’s
business is chiefly handled by the two Shahs.
Overall business is satisfactory.
Since the history
of the subject in Hong Kong is over seventeen and a half years, consider it
good for moderate business engagements.
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.46.34 |
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UK Pound |
1 |
Rs.82.96 |
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Euro |
1 |
Rs.65.82 |
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%)