MIRA INFORM REPORT

 

 

Report Date :           

24.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SWANSEA  DIAMONDS

 

 

Registered Office :

Flat A, 11/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

24.07.2009

 

 

Com. Reg. No.:

50918156-000-07

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds

 

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

 

 Bottom of Form

Company name

 

SWANSEA DIAMONDS

 

 

Company ADDRESS

 

Flat A, 11/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Kumar Mondal Swarup

 

 

SUMMARY

 

Establishment:                          24th July, 2009.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   2.  (Including affiliates)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat A, 11/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-  (Same address)

·         Sky Top Joaillier Ltd., Hong Kong.

·         Sreeja Diamonds, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

50918156-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Kumar Mondal Swarup

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Kumar Mondal SWARUP

Residential Address:      Flat C, 9/F., Crystal Green Building, Sector 1, Charkop Kandivali (W), Mumbai, India.

 

 

HISTORY

 

The subject was established on 24th July, 2009 as a sole proprietorship concern owned by Mr. Kumar Mondal Swarup under the Hong Kong Business Registration Regulations.

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:                   2.  (Including affiliates)

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, other Asian countries, etc.

 

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

 

Terms/Buying:               L/C, advanced payment, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Kept a balance account in 2010.

 

Condition:                      Business is improving.

 

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

 

Swansea Diamonds is a is a sole proprietorship set up and owned by Mr. Kumar Mondal Swarup who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject commenced business in July 2009.  Its telephone number and fax number have not registered with local telephone company nor listed on telephone directories.  Your given phone number 852-3669269 is not correct.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts.  Commodities are chiefly imported from India.  After processing in Hong Kong or China, finished products are marketed in Hong Kong or exported to Japan, the other Asian countries, etc.  The subject is also a commission agent.  Business is improving.

Swarup has developed business ties with a number of diamond suppliers and manufacturers in Mumbai, India.

The subject has got the following two affiliated companies located at its operating office:-

Sky Top Joaillier Ltd.

Sreeja Diamonds

These two firms are registered in Hong Kong and trading in diamonds.

The subject’s business is chiefly handled by Swarup himself.  History in Hong Kong is just over two years.

As the history of the subject is short in Hong Kong, on the whole, consider it good for normal business engagements on Secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.69

UK Pound

1

Rs.75.29

Euro

1

Rs.65.77

 

 

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.