MIRA INFORM REPORT

 

 

Report Date :           

25.08.2011

 

IDENTIFICATION DETAILS

 

Name :

TAPPER  DIAM  (HK)  CO.

 

 

Registered Office :

Flat E, 9/F., Hariela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.05.2005

 

 

Com. Reg. No.:

35623712-000-05

 

 

Legal Form :

Partnership.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds, 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  

 

TAPPER  DIAM  (HK)  CO.

 

 

Company ADDRESS

 

Flat E, 9/F., Hariela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2724 2776

FAX:                 2724 6937

 

 

MANAGEMENT

 

Manager:  Mr. M. Naleem Seyed Mohamed Salihu

 

 

SUMMARY

 

Establishment:                          14th May, 2005.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

COMPANY ADDRESS

 

Head Office:-

Flat E, 9/F., Hariela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35623712-000-05

 

 

MANAGEMENT

 

Manager:  Mr. M. Naleem Seyed Mohamed Salihu

 

 

PARTNERS

 

Name:                           Mr. M. Naleem SEYED MOHAMED SALIHU

Residential Address:      Flat D2, 12/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Mrs. Muthu Hawwa Pillai MOHAMED NALEEM

Residential Address:      Flat D2, 12/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 14th May, 2005 as a partnership concern jointly owned by Mr. M. Naleem Seyed Mohamed Salihu and Mrs. Muthu Hawwa Pillai Mohamed Naleem under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

M. Naleem SEYED MOHAMED SALIHU

14-05-2005

-

Muthu Hawwa Pillai MOHAMED NALEEM

14-05-2005

-

Bhavesh Kantilal SHAH

08-06-2005

01-06-2006

 

Originally the subject was registered under the name of Facet Trading Company, name changed to the present style on 24th May, 2005.

At the very beginning, the subject was located at Flat D2, 12/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat F, 13/F., Golden Crown Court, 66-70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in August 2005, and further to the present address in November 2006.

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, etc.

           

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Japan, other Asian countries, 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:                Keeping a balance account.

 

Condition:                      Business is fairly active.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

GENERAL

 

Tapper Diam (HK) Co. is a partnership jointly set up and owned by Mr. M. Naleem Seyed Mohamed Salihu and Mrs. Muthu Hawwa Pillai Mohamed Naleem.  The two partners are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.  The two partners seem to be a couple.

The subject’s registered address is located at Flat E, 9/F., Hariela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that the couple has moved to this new address but does not make any amendments on the subject’s registration materials.  It seems that the subject’s operating address is also the couple’s new residential address.  The residential building is not trespassed by outsiders.  The subject has no employees in Hong Kong.

Business commenced in May 2005, the subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts.  Most of the commodities are imported from India, other Asian countries and Europe.  Prime markets are Hong Kong, Japan, India and the other Asian countries.

Business just handled by the couple, the subject is a two-person company.  History in Hong Kong is over six years.

Since the registered office of the subject is in a residential building, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.77

UK Pound

1

Rs.75.57

Euro

1

Rs.65.97

 

 

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.