MIRA INFORM REPORT

 

 

Report Date :           

28.04.2011

 

IDENTIFICATION DETAILS

 

Name :

PREMIER  DIAMOND  COMPANY

 

 

Registered Office :

c/o Cheung Bros Mfg Co., 8/F., China Minmetals Tower, 79 Chatham Road South, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

20.10.2009

 

 

Com. Reg. No.:

51297999-000-10

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

Regular

 

 

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)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

PREMIER  DIAMOND  COMPANY

 

 

Company ADDRESS

 

c/o Cheung Bros Mfg Co.

8/F., China Minmetals Tower, 79 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2739 0006

FAX:                 2739 8479

 

 

MANAGEMENT

 

Manager:  Mr. Wong Wai Hing

 

 

SUMMARY

 

Establishment:                          20th October, 2009.

 

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:           Satisfactory.

 

Company ADDRESS

 

Head Office:-

c/o Cheung Bros Mfg Co.

8/F., China Minmetals Tower, 79 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51297999-000-10

 

 

MANAGEMENT

 

Manager:                       Mr. Wong Wai Hing

 

 

SOLE PROPRIETOR

 

Name:                           Mr. WONG Wai Hing

Residential Address:      Room 107, Hoi Ming House, Hoi Lai Estate, Lai Chi Kok, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 20th October, 2009 as a sole proprietorship concern owned by Mr. Wong Wai Hing under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at 4/F., Vincent Commercial Centre, 21 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong, moved to 6/F., Englong Commercial Building, 184 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in March 2010, and further to the present address in April 2010.

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 and jewellery.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, other Asian countries, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Suffering from a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Premier Diamond Company is a sole proprietorship set up and owned by Mr. Wong Wai Hing who is a Hong Kong merchant.

Business commenced in October 2009, the subject shares the operating address with a Hong Kong-registered firm Cheung Bros Mfg Co. [Cheung Bros].  Cheung Bros is a garment trader.

The subject has no employees in Hong Kong.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds, etc.  Commodities are chiefly imported from India.  After processing in Hong Kong or China, finished products are marketed in Hong Kong, exported to Japan, Taiwan and the other Asian countries.  Business is still under development.

The subject suffered from a small loss in 2010.  Business handled by Wong himself, the subject is just a one-man company.

Since the history of the subject in Hong Kong is just over a year and six months, on the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.40

UK Pound

1

Rs.73.26

Euro

1

Rs.65.17

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.