MIRA INFORM REPORT

 

 

Report Date :           

18.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SOHAM  DIAM

 

 

Registered Office :

Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.09.1993

 

 

Com. Reg. No.:

17375442-000-09

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones, 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 :

No Complaints

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

SOHAM  DIAM

 

 

Company ADDRESS

 

Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2723 1243

FAX:                 2722 6684

E-MAIL:            vcsheth@hotmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Bhupatbhai Manjibhai Dhamelia

 

 

SUMMARY

 

Establishment:                          21st September, 1993.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond and Gemstone Trader.

 

Employees:                   3.  (Including affiliates)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Branch Office:-

Soham Diam BVBA, Belgium.

 

Associated/Affiliated Companies:-

·         Apex Trading, Hong Kong.  (Same address)

·         Carbon Craft, Hong Kong.  (Same address)

·         Gold Diam Inc., USA.

·         Mayborne International Ltd., Hong Kong.  (Same address)

·         Soham Gems Co. Ltd., Thailand.

 

 

BUSINESS REGISTRATION NUMBER

 

17375442-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Bhupatbhai Manjibhai Dhamelia

 

 

PARTNERS

 

Name:                           Mr. Bhupatbhai Manjibhai DHAMELIA

Residential Address:      Flat B3, 11/F., Block B, Prat Mansions, 26 Prat Avenue, Tsimshatsui, Kowloon, Hong

Kong.

 

Name:                           Mr. Jhaveri AKSHAY CHANDRAKANT

Residential Address:      Flat F, 4/F., Pacific Building, 67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 21st September, 1993 as a sole proprietorship concern owned by Mr. Bhupatbhai Manjibhai Dhamelia under the Hong Kong Business Registration Regulations.  On 6th February, 1995, Mr. Jhaveri Akshay Chandrakant joined in as a partner and since then, the subject has become a partnership concern.

Initially the subject’s office was located at Flat B3, 11/F., Block B, Prat Mansions, 26 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Room 506, 5/F., Hart Avenue Plaza, 5-9A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in July 1994; to Flat A2, 17/F., Block A, Prat Mansions, 26 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in August 1997; to Room 701, 7/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in January 1999; and further moved to the present address in recent years.  However, the new address of the subject has not registered with Inland Revenue Department Business Registration Office of the Hong Kong SAR Government.

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 gemstones, etc.

 

Employees:                   3.  (Including affiliates)

 

Commodities Imported:   India, Belgium, Thailand, other Asian countries, etc.

 

Markets:                       Asia, China, Eastern and Western Europe, Middle East, North America, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in an active condition.

 

Facilities:                      Making rather 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

 

Soham Diam is a partnership jointly owned by Mr. Bhupatbhai Manjibhai Dhamelia and Mr. Jhaveri Akshay Chandrakant, both of whom are Indian.

The subject is a diamond importer, exporter and wholesaler.  It has got an affiliated company Mayborne International Ltd. [Mayborne], a Hong Kong-registered firm, located at its operating address.  The Managing Director of Mayborne Mr. Vijay Sheth is also an Indian.  Mayborne is exporting fine jewellery, abrasive materials, synthetic diamond powder to India.

Besides Mayborne, the subject has got another affiliates Apex Trading [Apex] and Carbon Craft which are also located at the same operating address.  Apex, Carbon Craft and the subject are engaged in the same lines of business.

Currently, the subject is manufacturing the following commodities and offering clients with the following services:-

Product/Service

Product/Service Remarks

Fine Jewellery

 

Diamond

Loose diamond (including polished and cut)

Stone Polishing and Cutting

PCD for industrial diamond tools, segment for stone cutting from Russia, Belgium, Korea and China (Importer)

PCD for industrial diamond tools, segment for stone cutting from Russia, Belgium, Korea and China to India (Exporter)

Fine Jewellery Findings and Setting

Abrasive materials, synthetic diamond powder from Russia, Belgium, Korea and China to India

Hardware

 

Abrasives

Abrasive materials, synthetic diamond powder from Russia, Belgium, Korea and China (Importer)

Abrasive materials, synthetic diamond powder from Russia, Belgium, Korea and China to India (Exporter)

 

The subject’s products are exported to Southeast Asia, Africa, Australasia, China, Eastern Europe, Japan, South Korea, India, the Middle East, North America, Central & South America, Scandinavia, Taiwan, Western Europe, etc.  India is one of its prime markets.  However, its loose diamonds are chiefly imported from India, Belgium, South Africa and North America.

Now, the subject has set up a branch office in Belgium, as well as associated firms in the United States and Thailand.

The subject’s affiliate Apex is a sole proprietorship set up and owned by Mr. Nikhil Jayantilal Tilala who is also an Indian.  Established on 3rd May, 2005, Apex is a business partner of the subject.

The subject has maintained a number of regular suppliers and overseas customers.

As the history of the subject in Hong Kong is about eighteen years, on the whole, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.74.56

Euro

1

Rs.65.34

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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