MIRA INFORM REPORT

 

 

Report Date :           

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMMY  DIAM

 

 

Registered Office :

Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.07.2005

 

 

Com. Reg. No.:

35804407-000-07

 

 

Legal Form :

Partnership

 

 

Line of Business :

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

 

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

 

SAMMY  DIAM

 

 

Company ADDRESS

 

Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2736 6858

FAX:                 2736 6857

E-MAIL:            semil@hotmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Semil Hasmukh Desai

 

 

SUMMARY

 

Establishment:                          8th July, 2005.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   4.

 

Main Dealing Banker:     Bank of India, Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

P.O. Box 96202, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

 

Associated Company:-

Paniv Diam, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

35804407-000-07

 

 

MANAGEMENT

 

Manager:                       Mr. Semil Hasmukh Desai

Contact Person:             Ms. Harsha Semil Desai

 

 

PARTNERS

 

Name:                           Mr. Semil Hasmukh DESAI

Residential Address:      Flat F, 33/F., Tower 6, Sorrento, 1 Austin Road West, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Ms. Harsha Semil DESAI

Residential Address:      Flat F, 33/F., Tower 6, Sorrento, 1 Austin Road West, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 8th July, 2005 as a partnership concern jointly owned by Mr. Semil Hasmukh Desai and Ms. Harsha Semil Desai under the Hong Kong Business Registration Regulations.

Initially the subject was located at Suite D, 7/F., Cameron Plaza, 23‑25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat D, 12/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong in December 2006, and further moved to the present address in January 2011.

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.

 

Employees:                   4.

 

Commodities Imported:   India, Europe, USA, etc.

 

Markets:                       Japan, India, Middle East, Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Made small profits in the past year.

 

Condition:                      Business is normal.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of India, Hong Kong Branch.

 

Standing:                      Small.

 

 

GENERAL

 

Sammy Diam is a partnership jointly owned by Mr. Semil Hasmukh Desai and Ms. Harsha Semil Desai, both of whom are Indian.  Seemed to be an Indian couple, they are Hong Kong ID Card holders and has got the right to reside in Hong Kong permanently..

The subject commenced business in July 2005 and moved to the present address in January 2011.

The subject has got an associated company Paniv Diam located at its operating address.  Engaged in the same lines of business as the subject, Paniv Diam is also owned by the Desais.

According to the subject, it is an international purchaser of jewellery products.  It also imports rough diamonds from abroad and processes in Hong Kong.  Finished products are exported to Japan, India, the Middle East, Europe, etc.  Main products carried are loose diamonds, cut and polish diamonds, white diamond jewellery, colour diamond jewellery, pearl Simulant jewellery, polished and colour diamonds, etc.

India is the principal supplying country in Asia.  After about six years development, the subject’s business has become normal and steady.

The subject has had close business ties with some of the diamond manufacturers in Mumbai, India.

The subject’s business is chiefly handled by the Desais.

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.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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.