MIRA INFORM
REPORT
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Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
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Name : |
H.
H. DIAMOND SALES
LTD. |
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Registered Office : |
Flat A, 16/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.08.1998 |
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Com. Reg. No.: |
21922079 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds |
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 |
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
H. H. DIAMOND SALES LTD.
Company ADDRESS
Flat A, 16/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2314 7606
FAX: 2367 7281
E-MAIL: info@hhdiamond.com
MANAGEMENT
Managing Director: Mr. Mukund Himatlal Zaveri
SUMMARY
Incorporated on: 10th August, 1998.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$200,000.00
Business Category: Diamond Trader.
Annual Turnover: HK$25~30 million.
Employees: 3.
Main Dealing Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Flat A, 16/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
P.O. Box 95402, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Associated/Affiliated Companies:-
(Same address)
Golden Dynasty (HK)
Company, Hong Kong.
[Formerly H.H. Diamond Sales]
H. H. Diamond Sales Company, Hong Kong.
BUSINESS REGISTRATION NUMBER
21922079
COMPANY FILE NUMBER
0651913
MANAGEMENT
Managing Director: Mr. Mukund Himatlal Zaveri
CAPITAL
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
SHAREHOLDERS
(As per registry dated 10-08-2010)
|
Name |
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No. of shares |
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Mukund Himatlal ZAVERI |
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100,000 |
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Sonal Mukund ZAVERI |
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100,000 |
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––––––– |
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Total: |
200,000 ====== |
DIRECTORS
(As per registry dated 10-08-2010)
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Name (Nationality) |
Address |
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Mukund Himatlal ZAVERI |
Flat B, 15/F., Sunview Garden, 67 Sheung Shing Street, Ho Man Tin, Kowloon, Hong Kong. |
|
Sonal Mukund ZAVERI |
Flat B, 15/F., Sunview Garden, 67 Sheung Shing Street, Ho Man Tin, Kowloon, Hong Kong. |
SECRETARY
Mukund
Himatlal ZAVERI (As per registry dated
10-08-2010)
HISTORY
The subject was incorporated on 10th August, 1998 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: All kinds of diamonds.
Employees: 3.
Commodities Imported: India, Israel, USA, etc.
Markets: Singapore, South Korea, Taiwan, USA, etc.
Annual Turnover: HK$25~30 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$200,000.00
Profit or Loss: Making a small profit every year.
Condition: Business is rather active.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 200,000 ordinary shares of HK$1.00 each, H. H. Diamond Sales Ltd. is equally owned by Mr. Mukund Himatlal Zaveri and Mr. Sonal Mukund Zaveri. They are also directors of the subject. Having been in Hong Kong for a very long time, the two Zaveris are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
Formerly the subject had an affiliate known as H. H. Diamond Sales, however, this firm changed name to Golden Dynasty (HK) Company which is a Hong Kong-registered firm located at the same operating address as the subject.
The subject is a polished and cut diamond, loose diamond importer, exporter and wholesaler. Size of diamonds supplied ranges from 0.01 carat to 0.70 carat. Diamonds can be “full cut” or “single cut”. The main products of the subject are asscher cut, baguette, emerald cut, heart shape, marquise, oblong, oval shape, pear shape, princess cut, round brilliant, taper, tapered baguette, trilliant, etc. The subject also trades in the following products:-
· Finished Jewellery
o Diamond Jewellery
§ White Diamond Jewellery
§ Colour Diamond Jewellery
o Gem Set Jewellery
§ Emerald Jewellery
§ Ruby Jewellery
§ Sapphire Jewellery
o Gold Jewellery
§ 14K Gold Jewellery
§ 18K Gold Jewellery
§ 22K Gold Jewellery
§ 24K Gold Jewellery
· Materials
o Diamond
§ Polished White Diamond
Commodities are chiefly imported from India, other supplying countries are Israel, the United States, Belgium, etc. Finished products are marketed in Hong Kong, sold to Singapore, South Korea, Taiwan, the United States, etc. Overall business is active. Annual sales turnover ranges from HK$25 to 30 million.
History in Hong Kong is over twelve years and eight months, the subject’s business is chiefly handled by the Zaveris.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
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|
1 |
Rs.73.35 |
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Euro |
1 |
Rs.64.78 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.