MIRA INFORM REPORT

 

 

Report Date :

06.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ADISH  DIAMONDS

 

 

Registered Office :

Room 801, 8/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.12.1993

 

 

Com. Reg. No.:

17623174-000-12

 

 

Legal Form :

Sole Proprietorship

 

 

LINE OF BUSINESS :

IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS AND JEWELLERY PRODUCTS, EMERALD, PRECIOUS STONES, ETC.

 

 

No. of Employees :

1.

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

ADISH  DIAMONDS

 

 

ADDRESS:       Room 801, 8/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2721 4752

 

 

MANAGEMENT

 

Manager:  Mr. Ashok Kumar Nahar

 

 

SUMMARY

 

Establishment:                          16th December, 1993.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Precious Stone Trader.

 

Employee:                     1.

 

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

 

Banking Relation:            Satisfactory.

ADDRESS

 

Head Office:-

Room 801, 8/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

17623174-000-12

 

 

MANAGEMENT

 

Manager:  Mr. Ashok Kumar Nahar

 

 

SOLE PROPRIETOR

 

Name:  Mr. Ashok Kumar NAHAR

Residential Address:      Flat A, 18/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 16th December, 1993 as a sole proprietorship concern owned by Mr. Ashok Kumar Nahar under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat 5B, 5/F., Wing Lock House, 1 Lock Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat A, 18/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong in June 1996; to Room 08, 12/F. of the same building in January 2002; to Room 03, 12/F. of the same building in January 2004; to Room 1004, 10/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in July 2008; and further moved to the present address in June 2011.

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 jewellery products, emerald, precious stones, etc.

 

Employee:                     1.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, US, 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 a normal condition.

 

Facilities:                      Making fairly 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

 

Adish Diamonds is a sole proprietorship set up and owned by Mr. Ashok Kumar Nahar 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 moved to the present new address in June 2011.  It is likely that the subject still shares its new office with some other diamond traders.

Business commenced in December 1993, the subject is a loose diamond and gemstone importer, exporter and wholesaler.  It is trading in emerald, ruby, sapphire, aquamarine, Taurmaline amythist, blue topaz, and other coloured stones.  The subject’s commodities and raw materials are imported from India, Belgium and other European countries.  Gem stones and diamonds are processed, polished and cut in Hong Kong or China.  Finished products are marketed in Hong Kong, exported to Japan, India, other Asian countries, Europe, North America, etc.  Business is normal.

The subject keeps a balance account or just making very small profits in most of the past years.  Its business is chiefly handled by Nahar himself.  Regular customers and suppliers have been maintained.  History in Hong Kong is about eighteen years.

On the whole, consider it good for normal business engagements in small credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.39

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

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.