MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Name :

SUNNY  DIAM  (H.K.)

 

 

Registered Office :

Room 601, 6/F., Working Port Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.05.2005

 

 

Com. Reg. No.:

35583409-000-05

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of precious stones

 

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

 

SUNNY  DIAM  (H.K.)

 

 

Company ADDRESS

 

Room 601, 6/F., Working Port Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.

PHONE:                        3481 3548

FAX:                 3480 3548

 

 

MANAGEMENT

 

Manager:  Mr. Samish Pravin Shah  (Mobile: 9812 9977)

 

 

SUMMARY

 

Establishment:                          3rd May, 2005.

 

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.

Company ADDRESS

 

Head Office:-

Room 601, 6/F., Working Port Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35583409-000-05

 

 

MANAGEMENT

 

Manager:  Mr. Samish Pravin Shah

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Samish Pravin SHAH

Residential Address:      Flat B, 16/F., Ho On Mansion, 107-109 Austin Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 3rd May, 2005 as a sole proprietorship concern owned by Mr. Samish Pravin Shah under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat B, 16/F., Ho On Mansion, 107‑109 Austin Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 4/F., Tai Chi Court, 132-134 Austin Road, Tsimshatsui, Kowloon, Hong Kong in June 2007; to Flat A-1, 4/F., Winner Building, 32-40 Man Yue Street, Hunghom, Kowloon, Hong Kong in December 2008; and further moved to the present address March 2010.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of precious stones.

 

Employees:                   1.

 

Commodities Imported:   India, Thailand, Europe, etc.

 

Markets:                       Japan, other Asian countries, 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 very small profit in the past three years.

 

Condition:                      Keeping in a normal manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met obligations on time.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Sunny Diam (H.K.) is a sole proprietorship set up and owned by Mr. Samish Pravin Shah who is an Indian.  He has become a Hong Kong ID Card holder since March 2010 and has got the right to reside in Hong Kong permanently.

The subject moved to the present address in March 2010.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose polished white or coloured diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, etc.  It supplies customers with loose diamonds with different carats and cuts.  According to the subject, it is able to provide consistent supply of diamonds with timely delivery.  Raw materials are imported from India, Belgium and other European countries, etc.  Some of the raw diamonds are polished or processed in Hong Kong.  Finished products and polished diamonds are exported or re-exported to Japan, the other Asian countries, Europe, etc.  Business is fairly active.

The subject kept a balance account or just made a very small profit in the past three years.

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.  It took part in “2008 Shenzhen International Jewellery Fair” which was held in September 2008.  It also has taken part in the fairs and exhibitions held in Hong Kong.  For instance, it is going to take part in Hong Kong International Jewellery Show which will be held during the period of 16th to 20th February, 2012.

Shah can be reached at his mobile phone number 9182 9977.

The history of the subject in Hong Kong is over six years and two months.

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

                              

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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

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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.