MIRA INFORM
REPORT
|
Report Date : |
18.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ETERNAL
DIAMONDS CORPORATION LTD |
|
|
|
|
Registered Office : |
Flat F2-27, 2/F., Phase 2, Hang Fung Industrial Building,
2G Hok Yuen Street, Hunghom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
18.12.2002 |
|
|
|
|
Com. Reg. No.: |
33232303 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter, Wholesaler and Retailer of all kinds of diamonds and jewellery, 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 : |
Usually Correct |
|
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
ETERNAL DIAMONDS CORPORATION
LTD.
Company ADDRESS
Flat F2-27, 2/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2333 5534
FAX: 2356 2680
E-MAIL: eternal.diamonds@yahoo.com.hk
MANAGEMENT
General Manager: Mr. David Lee
SUMMARY
Incorporated on: 18th December, 2002.
Organization: Private Limited Company.
Capital: Nominal: US$100,000.00
Issued: US$10,000.00
Business Category: Diamond Trader.
Annual Turnover: US$400 million (2011) – Estimated.
Employees: 15.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Company ADDRESS
Registered
Office:-
Flat F2-27, 2/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. [Rented]
Holding Company:-
Everstar Capital (Asia) Ltd., British Virgin Islands.
BUSINESS REGISTRATION NUMBER
33232303
COMPANY FILE NUMBER
0826414
MANAGEMENT
General Manager: Mr. David Lee
CAPITAL
Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of US$1.00 each)
Issued Share Capital: US$10,000.00
SHAREHOLDER
(As per registry
dated 18-12-2010)
|
Name |
|
No. of shares |
|
Everstar Capital (Asia) Ltd. 263 Main Street, P.O. Box 2196, Road Town, Tortola, British Virgin Islands. |
|
10,000 ===== |
DIRECTORS
(As per registry
dated 30-03-2011)
|
Name (Nationality) |
Address |
|
LI Hsuan Cheng |
Flat F2-27, 2/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. |
|
Ashish Bajranglal BAGARIA |
Flat F2-27, 2/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 18-12-2010)
|
Name |
Address |
Co.
No. |
|
Louis Lai Co. Secretarial Services Ltd. |
9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong. |
0686503 |
HISTORY
The subject was incorporated on 18th December, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered office was in an accountant firm located at 1/F., Xiu Ping Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong known as Fung & Pang CPA Ltd. which had handled its correspondences and documents. The subject changed its registered address to the present one with effect from 10th June, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter, Wholesaler and Retailer.
Lines: All kinds of diamonds and jewellery, etc.
Employees: 15.
Commodities Imported: India, Belgium, UAE, etc.
Markets: Hong Kong, USA, UAE, India, other Asian countries, etc.
Annual Turnover: US$400 million (2011) – Estimated.
Terms/Sales: 30, 60-90 days.
Terms/Buying: Credit of 90-120 days.
FINANCIAL INFORMATION
Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of US$1.00 each)
Issued Share Capital: US$10,000.00
Profit or Loss: Business is profitable.
Condition: Keeping in an active manner.
Facilities: Making very active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Good.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Good.
GENERAL
Having issued 10,000 ordinary shares of US$1.00 each, Eternal Diamonds Corporation Ltd. is a wholly-owned subsidiary of Everstar Capital (Asia) Ltd. which is a BVI-registered firm. The directors of the subject include Li Hsuan Cheng and Ashish Bajranglal Bagaria.
The subject is trading in diamonds and diamond jewellery. Commodities are chiefly imported from India, Belgium and the United Arab Emirates. Products are marketed in Hong Kong, the United State, the United Arab Emirates and other Asian countries, etc. The subject is a diamond wholesaler in Hong Kong. The operator of the subject is experienced.
According to the subject, its sales in 2009 was over US$180 million, in 2010 was over US$375 million. It is predicted that its sales in 2011 will be over US$400 million.
The subject’s business is chiefly handled by Mr. David Lee who is the General Manager.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.53 |
|
UK Pound |
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.62.98 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.