MIRA INFORM REPORT

 

 

Report Date :           

04.07.2011

 

IDENTIFICATION DETAILS

 

Name :

CLEAR  DIAMONDS  (H.K.)  LTD.

 

 

Registered Office :

Room 1405, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong 

 

 

Date of Incorporation :

26.04.2006

 

 

Com. Reg. No.:

36692386

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, 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

 

 Bottom of Form

 

Company name

 

CLEAR  DIAMONDS  (H.K.)  LTD.

 

 

Company ADDRESS

 

Room 1405, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2316 7878

FAX:                 2316 7979

 

 

MANAGEMENT

 

Managing Director:  Mr. Mitul Ajay Shah

 

 

SUMMARY

 

Incorporated on:             26th April, 2006.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$2,000,000.00

Issued:              HK$2,000,000.00

 

Business Category:        Loose Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1405, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

36692386

 

 

COMPANY FILE NUMBER

 

1040634

 

 

MANAGEMENT

 

Managing Director:  Mr. Mitul Ajay Shah

 

 

CAPITAL

 

Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$2,000,000.00

 

 

SHAREHOLDER  

(As per registry dated 26-04-2011)

 

Name

 

No. of shares

Mitul Ajay SHAH

 

2,000,000

=======

 

DIRECTORS  

(As per registry dated 26-04-2011)

 

Name

(Nationality)

 

Address

Mitul Ajay SHAH

Flat B, 11/F., 26 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Amita Ajay SHAH

102 Rajul Apartments, 1/F., 9 Harkness Road, Mumbai 400 006, India.

 

 

SECRETARY

(As per registry dated 26-04-2011)

 

Name

Address

Bayani Divino Bautista PONCE

13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 26th April, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.

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, etc.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, North America, Western Europe, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:               HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)

 

Issued Share Capital:                 HK$2,000,000.00

 

Profit or Loss:                            Making a small profit in the past two years.

 

Condition:                                  Keeping in a satisfactory manner.

 

Facilities:                                  Making 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

 

Having issued 2 million ordinary shares of HK$1.00 each, Clear Diamonds (H.K.) Ltd. is wholly owned by Mr. Mitul Ajay Shah who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  He and Amita Ajay Shah who is an India passport holder are the directors of the subject.

The subject’s individual secretary Bayani Divino Bautista Ponce is also the secretary of the other Indian firms in Hong Kong.

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.  It is also trading in the following commodities: single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc.  Commodities are chiefly imported from India.  Products are marketed in Hong Kong, exported to Japan and the other Asian countries.

The subject’s business is chiefly handled by Mr. Mitul Ajay Shah himself.  History in Hong Kong is over five years and two months.

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

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.75

Euro

1

Rs.64.80

 

 

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.