MIRA INFORM
REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SIMI-DIAM
LTD. |
|
|
|
|
Registered Office : |
Unit 1, 12/F., Block A, Focal Industrial Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
03.06.1988 |
|
|
|
|
Com. Reg. No.: |
11916129 |
|
|
|
|
Legal Form : |
Private Limited
Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of jewellery and precious stones, 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 : |
Regular |
|
|
|
|
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
SIMI-DIAM
LTD.
Company ADDRESS
Unit 1, 12/F., Block A, Focal Industrial Centre,
PHONE: 2736
8018~9
FAX: 2735
9116
E-MAIL: guest2@netvigator.com
MANAGEMENT
Managing
Director: Mr. Yogesh Shah
SUMMARY
Incorporated
on: 3rd
June, 1988.
Organization: Private
Limited Company.
Capital: Nominal: HK$4,000,000.00
Issued: HK$4,000,000.00
Business Category: Diamond Trader.
Employees: 4.
(Including subsidiary)
Main Dealing Banker: Bank
of
Banking
Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 1, 12/F., Block A, Focal Industrial Centre,
Subsidiary:-
Twinkle International, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
11916129
COMPANY FILE NUMBER
0217477
MANAGEMENT
Managing Director: Mr. Yogesh Shah
CAPITAL
Nominal Share Capital: HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,000,000.00
SHAREHOLDERS
(As per registry dated 03-06-2010)
|
Name |
|
No. of shares |
|
Yogesh SHAH |
|
2,000,000 |
|
Priti Yogesh SHAH |
|
1,999,999 |
|
Noohu A.M. THAIKA |
|
1 |
|
|
|
–––––––– |
|
|
Total: |
4,000,000 ======= |
DIRECTORS
(As per registry dated 03-06-2010)
|
Name (Nationality) |
Address |
|
Priti Yogesh SHAH |
House No. 27, |
|
Yogesh SHAH |
House No. 27, |
|
Noohu A.M. THAIKA |
1706, Tung Ma House, Fu Tung
Estate, Tung Chung, |
SECRETARY
Noohu A.M.
THAIKA (As per registry dated
03-06-2010)
HISTORY
The subject was incorporated on 3rd June, 1988 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 jewellery and precious stones, etc.
Employees: 4. (Including subsidiary)
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
The Indian Chamber of
Commerce Hong Kong,
FINANCIAL INFORMATION
Nominal Share Capital: HK$4,000,000.00 (Divided into 4,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,000,000.00
Mortgage or Charge (since 2008): (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Bank of
Punjab National Bank, Hong Kong Branch.
UCO Bank, Hong Kong Branch.
The Hongkong &
Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
Having
issued 4 million ordinary shares of HK$1.00 each, Simi-Diam Ltd. is equally
owned by Mr. Yogesh Shah and Mr. Priti Yogesh Shah. The two Shahs are Hong Kong ID Card holders
and have got the right to reside in
The subject’s subsidiary Twinkle International is also located at the same operating address.
The subject is a precious stone trader. It is trading in the following precious stones:-
·
Ruby (from
·
Sapphire (from
·
Emeralds (from
· Fancy Sapphire
Besides precious stones, the subject also trades in polished and cut diamonds. It also manufactures the following products:-
· Diamond Gold Jewellery
· Diamond Platinum Jewellery
· Gemset Gold Jewellery – 14 karat
· Gemset Gold Jewellery – 18 karat
Polished
and cut diamonds are imported from
The
subject is a member of The Indian Chamber of Commerce Hong Kong,
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
(Since 2008)
|
Date |
Particulars |
Amount |
|
29-06-2009 |
Instrument: Letter of Lien Property: Nature
of Deposit: 091102
SDR Mortgagee: Bank of |
US$1,400,000 |
|
29-06-2009 |
Instrument: General Letter of Hypothecation Property: Bills of exchange, and/or invoices, or any other documents representing or relating to goods Mortgagee: Bank of |
All the money |
|
17-08-2009 |
Instrument: Charge on Deposit to secure the Depositor’s Obligations Property: A sum of US$250,000.00 currently represented or evidenced by a certificate of deposit dated 17-08-2009 bearing account number 6841000014 Mortgagee: Punjab National Bank, Hong Kong Branch. |
As a continuing security for the payment and discharge of the Secured Obligations |
|
10-09-2010 |
Instrument: Charge on Deposit Property: A sum of US$62,500.00 currently represented or evidenced by a certificate of deposit dated 10-09-2010 bearing account number 6841000073 Mortgagee: Punjab National Bank, Hong Kong Branch. |
To secure all monies in respect of banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
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 |
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.