MIRA INFORM REPORT

 

 

Report Date :

13.01.2011

 

IDENTIFICATION DETAILS

 

Name :

DIAGEMS  TRADING  COMPANY

 

 

Registered Office :

Room 706, 7/F., Hart Avenue Plaza, 5-9A Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.04.1981

 

 

Com. Reg. No.:

07143871-000-04

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Diamonds, gemstones, jade, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

DIAGEMS  TRADING  COMPANY

 

 

Company ADDRESS

 

Room 706, 7/F., Hart Avenue Plaza, 5-9A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2376 2781,  2376 0427

FAX:                 2376 2357

E-MAIL:            dgtc@biznetvigator.com

diagems@netvigator.com

 

 

MANAGEMENT

 

Manager:  Mr. Sheth Amish Kumar Ramniklal

 

 

SUMMARY

 

Establishment:                          1st April, 1981.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond and Gem Trader.

 

Annual Turnover:            HK$42~45 million.

 

Employees:                   3.

 

Main Dealing Banker:     Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Head Office:-

Room 706, 7/F., Hart Avenue Plaza, 5-9A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

P.O. Box 95305, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

 

Associated Company:-

Samkit Diamonds Exporters, India.

 

 

BUSINESS REGISTRATION NUMBER

 

07143871-000-04

 

 

MANAGEMENT

 

Manager:                       Mr. Sheth Amish Kumar Ramniklal

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Sheth Amish Kumar RAMNIKLAL

Residential Address:      Flat B7, 5/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st April, 1981 as a partnership concern jointly owned by three Indian under the Hong Kong Business Registration Regulations.

 

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Hemkapub Ramanlal PATEL

01-04-1981

30-09-1984

Ashokkumar Hiralal PATEL

01-04-1981

02-03-1999

Jyostnaben Ashokkumar PATEL

01-04-1981

02-03-1999

Mukund Himatlal ZAVERI

15-05-1989

31-03-1994

Avnissh Ashok PATEL

15-06-1997

15-08-1997

Sheth Amish Kumar RAMNIKLAL

01-03-1999

-

 

Now the subject is a sole proprietorship.

Initially the subject was located at Room 33, 2/F., Mirador Mansion, 58 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 59, 2/F. of the same building in June 1981; to Flat 3A, 3/F., Bo Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong in August 1988; to Flat B7, 5/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong in May 1999; to Flat G & H, 12/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong in August 2003; and further moved to the present address in April 2008.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Diamonds, gemstones, jade, etc.

 

Employees:                   3.

 

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

 

Markets:                       Southeast Asia, North America, Europe, etc.

 

Annual Turnover:            HK$42~45 million.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in an active and satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met obligations on time.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         Hang Seng Bank Ltd., Hong Kong.

·         Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.

Standing:  Small.

 

 

GENERAL

 

Diagems Trading Company is a sole proprietorship owned by Mr. Sheth Amish Kumar Ramniklal who is an Indian.  Ramniklal joined in the subject in March 1999.

Business commenced in April 1981, the subject is one of the oldest diamond trading companies in Hong Kong.  The subject is a loose diamond, gemstone and jade importer, exporter and wholesaler.  Most of its products carried are: pear, tapered and baguette princess cut diamonds, marquise cut semi-precious stones, etc.

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

Product/Service

Product/Service Remarks

Fine Jewellery

 

Diamond

Cut and polished diamonds, from 0.005cts to 0.50 cts, size shapes: brilliant, tapper, bugget, princess, marquise, pears (Importer)

Cut and polished diamonds, from 0.005 cts to 0.50 cts, size shapes: brilliant, tapper, bugget, princess, marquise, pears (Exporter)

Cut and polished diamonds, from 0.005 cts to 0.50 cts, size shapes: brilliant, tapper, bugget, princess, marquise, pears (Wholesaler)

Gemstones and Jade

Fine jewellery: white 6 yellow gold with diamonds (Importer)

Fine jewellery: white 6 yellow gold with diamonds (Exporter)

Fine jewellery: white 6 yellow gold with diamonds (Wholesaler)

 

The subject’s cut and polished diamonds bear the brand name of “DTC”.  Prime markets are the United States, the Philippines, Taiwan, Singapore, Indonesia, Switzerland, Central & South America, etc.

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 latest fair taken part was the Hong Kong International Jewellery Show which had been held in Hong Kong during the period of 5th to 9th March, 2010.

The annual sales turnover of the subject ranges from HK$42 to 45 million.  Making a small profit every year.  Business is rather active.  Regular suppliers and a number of foreign customers have been maintained.

The subject is an associated company of Samkit Diamonds Exporters [Samkit], an India-based firm also trading in diamonds and jewellery.  It is likely that Samkit is one of the subject’s suppliers in India.

The subject’s business is chiefly handled by Ramniklal himself.

Since the history of the subject in Hong Kong is over twenty-nine years and nine months, on the whole, consider it good for normal business engagements.

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.16

UK Pound

1

Rs.70.64

Euro

1

Rs.58.68

 

 

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.