MIRA INFORM
REPORT
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Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AJAY
DIAM LTD |
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Registered Office : |
Room 1501-1502, 15/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.10.2004 |
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Com. Reg. No.: |
35031151 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery |
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 : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
Company name
AJAY DIAM LTD.
Company ADDRESS
Room 1501-1502, 15/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2316 7655
FAX: 2316 7611
E-MAIL: sales@ajaydiamltd.com
MANAGEMENT
Managing Director: Mr. Ajay Premchand Gandhi
SUMMARY
Incorporated on: 27th October, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Diamond and Watch Trader.
Annual Turnover: HK$15~20 million.
Employees: 7.
Main Dealing Banker: UCO Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Company address
Registered Head
Office:-
Room 1501-1502, 15/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Company:-
Ajay Diam, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
35031151
COMPANY FILE NUMBER
0930040
MANAGEMENT
Managing Director: Mr. Ajay Premchand Gandhi
Contact Person: Ms. Lau Wa
CAPITAL
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
SHAREHOLDER
(As per registry
dated 28-03-2011)
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Name |
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No. of shares |
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Ajay Premchand GANDHI |
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10,000,000 ======== |
DIRECTOR
(As per registry
dated 27-10-2010)
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Name (Nationality) |
Address |
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Ajay Premchand GANDHI |
11/F., Hang Shun Commercial Building, 12 Cameron Road, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 27-10-2010)
|
Name |
Address |
Co.
No. |
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SME Corporate Services Ltd. |
Room 305, 3/F., Carpo Commercial Building, 18-20 Lyndhurst Terrace, Central, Hong Kong. |
0952029 |
HISTORY
The subject was incorporated on 27th October, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat D & E, 8/F., Cameron Plaza, 23‑25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to 11/F., Hang Shun Commercial Building, 12 Cameron Road, Tsimshatsui, Kowloon, Hong Kong in May 2006 and further moved to the present address with effect from 1st Auguest, 2011.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery.
Employees: 7.
Commodities Imported: India, Thailand, Israel, Belgium, etc.
Markets: Europe, US, South Korea, Japan, etc.
Annual Turnover: HK$15~20 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Watch Manufacturers Association Ltd., Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
Alternation of Capital:-
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Initially |
paid up |
HK$ 5,000,000.00 |
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28-03-2011 |
paid up |
HK$ 5,000,000.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 10,000,000.00 ============== |
Increase of
Nominal Capital:-
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From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
28-03-2011 |
Indebtedness: HK$28,800,000.00 (Total amount outstanding on all mortgages and charges as per last Annual Return dated 27-10-2010)
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· UCO Bank, Hong Kong Branch.
· Indian Overseas Bank, Hong Kong Branch.
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 10 million ordinary shares of HK$1.00 each, Ajay Diam Ltd. is wholly owned by Mr. Ajay Premchand Gandhi who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject has got an affiliated company Ajay Diam located at its operating address. Ajay Diam was set up in 1993, it was reported. The subject and Ajay Diam are engaged in the same lines of business and under the same management.
The subject is marketing the following commodities:-
· Finished Jewellery
o Diamond Jewellery
§ White Diamond Jewellery
o Gold Jewellery
§ Fineness not Specified
o Silver Jewellery
§ Sterling 92.5%
o Platinum Jewellery
§ Fineness not Specified
· Materials
o Diamond
§ Polished White Diamond
o Polished Semi precious Gemstone
§ Others
The subject is specialized in diamonds and gold watches. Diamonds are imported from India, Thailand, Israel, Belgium, etc. Prime markets are Europe, the United States, South Korea, Japan, etc.
The subject’s significant products are the following items:-
· Ladies’ Jewellery Watch (including digital, analog watch)
· Men’s Jewellery Watch
· Unisex Jewellery Watch
Most of its products bear the brand name “SMEA” and claimed to be elegant, luxury and sophisticated.
According to the subject, the subject’s jewellery watch features a Swiss mechanical movement for guaranteed precision. Besides, it has got a genuine leather strap and the case is made of 18K gold.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it took part in Hong Kong Jewellery & Gem Fair which had been held during 21st to 25th September, 2009. In 2010, it took part in Hong Kong Watch & Clock Fair which had been held during 6th to 10th September, 2010.
It is going to take part in “Hong Kong Watch & Clock Fair 2011” which will be held in Wanchai, Hong Kong during the period of 7th to 11th September, 2011.
The subject’s total amount outstanding registered with the Companies Registry of Hong Kong as at late October 2010 amounted to HK$28.8 million.
The annual sales turnover of the subject ranges from HK$15 to 20 million. Making a small profit every year. Business is chiefly handled by Mr. Lau Wa who is a Hongkongnese.
The history of the subject in Hong Kong is over six years and nine months.
On the whole, consider it good for normal business engagements.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
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15-12-2008 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate
of Maturity Date 2008
FD 262 2 24-11-2008 AU$ 558,102.78 3.875% 24-12-2008 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All and any liabilities |
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21-06-2010 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate
of Maturity Date 2009
FD 244 2 10-03-2010 US$ 234,903.18 0.640% 10-09-2010 Mortgagee: Indian Overseas Bank, Hong Kong Branch. |
All and any liabilities |
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21-03-2011 |
Instrument: Security Over Deposits with the Bank (Limited Company – Under Seal) Property: Initially HK$5,000,000.00 or equivalent and all monies whether now or hereafter standing to the credit of the Company’s deposit with the Bank under deposit No. 636-595324-838 and whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further moneys in any deposit account with the Bank at any of its offices Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
To secure all monies in respect of banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.25 |
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UK Pound |
1 |
Rs.73.88 |
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Euro |
1 |
Rs.65.06 |
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.