MIRA INFORM REPORT

 

 

Report Date :           

29.04.2011

 

IDENTIFICATION DETAILS

 

Name :

YUG  DIAM

 

 

Registered Office :

Flat C, 11/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.03.2010

 

 

Com. Reg. No.:

51897975-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

 

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

 

YUG  DIAM

 

 

Company ADDRESS

 

Flat C, 11/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2366 3298

FAX:                 2366 3290,  2732 4338

 

 

MANAGEMENT

 

Manager:  Mr. Sapin Sharadbhai Shah

 

 

SUMMARY

 

Establishment:                          10th March, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   2.  (Including affiliate)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat C, 11/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliate Company:-

Dani’s Diam, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER 

 

51897975-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Sapin Sharadbhai Shah

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Sapin Sharadbhai SHAH

Residential Address:      6101C, Siddhi Apartment, Ashok Nagar No. 3, Kandivalj, East Mumbai-400101, India.

 

 

HISTORY

 

The subject was established on 10th March, 2010 as a sole proprietorship concern owned by Mr. Sapin Sharadbhai Shah under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat B, 18/F., Cameron Plaza, 23‑25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat C, 11/F. of the same building in August 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 products, etc.

 

Employees:       2.  (Including affiliate)

 

Commodities Imported:   India, etc.

 

Markets:                       Japan, other Asian countries, etc.

 

Annual Turnover:            Too early to obtain figure.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C and prepayment.

 

 

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 contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Yug Diam is a sole proprietorship set up on and owned by Mr. Sapin Sharadbhai Shah who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

Business commenced in March 2010, the subject moved to the present new address in August 2010.  Formerly, it shared the same operating office with another diamond trader Dani’s Diam.

Currently, Shah has had a residential flat in Hong Kong located at Flat J, 33/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom Bay, Kowloon, Hong Kong.

The subject is a diamond trader.  It is a diamond importer, exporter and wholesaler.  It is carrying loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts.  Its significant product is polished white diamond.  Most of its commodities are imported from India.  The subject is also a commission agent.

The subject has got affiliated diamond manufacturers in Mumbai, India where is Shah’s native land.  Products are marketed in Hong Kong, exported to Japan and the other Asian countries.  Business is still under development.

The subject’s business is chiefly handled by Shah himself.

As the history of the subject in Hong Kong is just over a year and a month, consider it good for normal business engagements on secured basis for the time being.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.74.14

Euro

1

Rs.65.78

 

 

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.