MIRA INFORM
REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
UNI
DIAM |
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Registered Office : |
Room 1207, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.02.2003 |
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Com. Reg. No.: |
33385023-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery roducts, emerald, precious stones, etc. |
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 : |
Small Company |
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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
UNI DIAM
Company ADDRESs
Room 1207, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 2244
FAX: 2723 2254
E-MAIL: unidiam@rediffmail.com
MANAGEMENT
Manager: Mr. Ritesh Raichand Hirawat
SUMMARY
Establishment: 28th February, 2003.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$40~45 million.
Employees: 5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Room 1207, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Company:-
Dharamchand Paraschand Exports, India.
BUSINESS REGISTRATION NUMBER
33385023-000-02
MANAGEMENT
Manager: Mr. Ritesh Raichand Hirawat
SOLE PROPRIETOR
Name: Mr. Ritesh Raichand HIRAWAT
Residential Address: Flat C, 8/F., Winston Mansion, 121-123 Chatham Road, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was established on 28th February, 2003 as a sole proprietorship concern owned by Mr. Ritesh Raichand Hirawat under the Hong Kong Business Registration Regulations.
Initially the subject was located at Flat C, 8/F., Winston Mansion, 121‑123 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June 2003.
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 products, emerald, precious stones, etc.
Employees: 5.
Commodities Imported: India, Belgium, other European countries, USA, etc.
Markets: Japan, India, other Asian countries, Europe, etc.
Annual Turnover: HK$40~45 million.
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 in the past years.
Condition: Business is rather steady.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Uni Diam is a sole proprietorship set up and owned by Mr. Ritesh Raichand Hirawat under the Hong Kong Business Registration Regulations.
As an Indian, Hirawat is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He can be reached at his mobile phone number 9049 0962.
The subject is trading in gems, jewellery, loose diamonds, carat size diamonds, emerald, precious stones, etc. Rough and polished diamonds are imported from India, Belgium and the United States. Rough diamonds are polished or processed either in Hong Kong or China. Finished products and polished diamonds are exported to China, Japan, South Korea, other Asian countries, Europe and the United States. The subject is also a commission agent. Business has been normal and steady.
The subject’s main products are asscher cut, baguette, emerald cut, heart shape, marquise, oblong, oval shape, pear shape, princess cut, round brilliant, taper, tapered baguette, trilliant, etc. It is specialized in round brilliant and princess-cut diamonds. Sizes of diamond range from 0.005 to 1 carat (can be certified or non-certified). Some are round brilliants and 10 points up in princess cuts. The subject also sells polished white diamonds and polished colour diamonds.
The subject has got an affiliated company in India known as Dharamchand Paraschand Exports. This firm is also a diamond trader. Dharamchand Paraschand Exports seems to be the subject’s main supplier in India.
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. The significant one is “Hong Kong International Jewellery Show” which is held in Hong Kong annually.
In March, 2011, the subject took part in “HKTDC Hong Kong International Jewellery Show 2011”. According to the schedule of the subject, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period 16th to 20th February, 2012.
The annual sales turnover of the subject ranges from HK$40 to 45 million. Making a small profit every year.
As the history of the subject in Hong Kong is over eight years and four months, on the whole, consider it good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.69 |
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UK Pound |
1 |
Rs.75.29 |
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Euro |
1 |
Rs.65.77 |
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.