MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SMART
DIAM |
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Registered Office : |
1/F., Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.12.2010 |
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Com. Reg. No.: |
53486328-000-12 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of gems and diamonds, 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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name
SMART DIAM
Company
ADDRESS
1/F., Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2311 6040
MANAGEMENT
Manager: Mr. Subhash Chand Choudhary
SUMMARY
Establishment: 1st December, 2010.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to comment.
Company
ADDRESS
Head Office:-
1/F., Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
53486328-000-12
MANAGEMENT
Manager: Mr. Subhash Chand Choudhary
SOLE
PROPRIETOR
Name: Mr. Subhash Chand CHOUDHARY
Residential Address: 410, The Executive House, 9/F., Suite 99, Suriwongse Road, Bangrak, Bangkok 10500,
Thailand.
HISTORY
The subject was established on 1st December, 2010 as a sole proprietorship concern owned by Mr. Subhash Chand Choudhary under the Hong Kong Business Registration Regulations.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of gems and diamonds, etc.
Employees: Nil.
Commodities Imported: India, etc.
Markets: Japan, other Asian countries, etc.
Annual Turnover: Too early to obtain figure.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, etc.
FINANCIAL
INFORMATION
Capital: Not disclosed.
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Smart Diam is a sole proprietorship set up and owned by Mr. Subhash Chand Choudhary. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject’s registered address is located at 1/F., Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong where is a residential building. It seems that this is also the residential address of the sole proprietor Choudhary in Hong Kong.
Business commenced in December 2010, the subject is trading in loose diamonds, emerald, precious stones, gem sets, semi-precious stones, etc. Rough diamonds, loose and polished diamonds are imported from India. Finished products and polished diamonds are marketed in Hong Kong, exported or re-exported to Japan, Thailand or other Asian countries. Business is still under development.
It is likely that the subject has had an associated company in Thailand.
The subject’s business is chiefly handled by Choudhary himself. Being a one-man company, the subject has no employees in Hong Kong. History is just over four months.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
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|
1 |
Rs.72.56 |
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Euro |
1 |
Rs.63.92 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.