MIRA
INFORM REPORT
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Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AJAY DIAM LTD. |
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Registered Office : |
11/F., Hang Shun Commercial Building, 12 Cameron Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.10.2004 |
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Com. Reg. No.: |
35031151 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of
diamonds and jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
AJAY DIAM
LTD.
ADDRESS: 11/F., Hang Shun Commercial
Building, 12 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2316 7655
FAX: 2316 7611
E-MAIL: sales@ajaydiamltd.com
ajaydiamltd@ajaydiamltd.com
MANAGEMENT
Managing Director: Mr. Ajay
Premchand Gandhi
SUMMARY
Incorporated on: 27th October,
2004.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Diamond and Watch Trader.
Annual Turnover: HK$15~20 million.
Employees: 5.
Main Dealing Banker: UCO Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
11/F., Hang Shun Commercial Building, 12 Cameron Road, Tsimshatsui,
Kowloon, Hong Kong.
Affiliated Company:-
Ajay Diam, Hong Kong. (Same
address)
BUSINESS REGISTRATION NUMBER
35031151
COMPANY FILE NUMBER
0930040
MANAGEMENT
Managing Director: Mr. Ajay
Premchand Gandhi
Contact Person: Ms. Rachel Cheng
CAPITAL
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
SHAREHOLDER
(As per registry dated 28-03-2011)
|
Name |
|
No. of shares |
|
Ajay Premchand GANDHI |
|
10,000,000 ======== |
DIRECTOR
(As per registry dated 27-10-2010)
|
Name (Nationality) |
Address |
|
Ajay Premchand GANDHI |
11/F., Hang Shun Commercial Building, 12 Cameron Road, Tsimshatsui, Kowloon,
Hong Kong. |
SECRETARY
(As per registry dated 27-10-2010)
|
Name |
Address |
Co. No. |
|
SME Corporate Services Ltd. |
Room 305, 3/F., Carpo Commercial Building, 18-20 Lyndhurst Terrace,
Central, Hong Kong. |
0952029 |
HISTORY
The subject was incorporated on 27th October, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat D & E, 8/F., Cameron Plaza,
23‑25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in May 2006.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All
kinds of diamonds and jewellery.
Employees: 5.
Commodities Imported: India, Thailand, Israel, Belgium, etc.
Markets: Europe,
US, South Korea, Japan, etc.
Annual Turnover: HK$15~20 million.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P,
etc.
MEMBERSHIP
Hong Kong Watch Manufacturers Association
Ltd., Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 5,000,000.00 |
|
28-03-2011 |
paid up |
HK$ 5,000,000.00 |
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|
–––––––––––––––– |
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Total: |
paid up |
HK$ 10,000,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
28-03-2011 |
Indebtedness: HK$28,800,000.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 27-10-2010)
Mortgage or Charge: (See
attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in an
active condition.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
UCO Bank, Hong Kong Branch.
Indian Overseas Bank, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 10 million ordinary shares of HK$1.00 each, Ajay Diam Ltd.
is wholly owned by Mr. Ajay Premchand Gandhi who is an Indian. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
The subject has got an affiliated company Ajay Diam located at its
operating address. Ajay Diam was set up
in 1993, it was reported. The subject
and Ajay Diam are engaged in the same lines of business and under the same
management.
The subject is marketing the following commodities:-
Finished Jewellery
Diamond Jewellery
White Diamond Jewellery
Gold Jewellery
Fineness not Specified
Silver Jewellery
Sterling 92.5%
Platinum Jewellery
Fineness not Specified
Materials
Diamond
Polished White Diamond
Polished Semi precious Gemstone
Others
The subject is specialized in diamonds and gold watches. Diamonds are imported from India, Thailand,
Israel, Belgium, etc. Prime markets are
Europe, the United States, South Korea, Japan, etc.
The subject’s significant products are the following items:-
·
Ladies’ Jewellery Watch (including digital, analog
watch)
·
Men’s Jewellery Watch
·
Unisex Jewellery Watch
Most of its products bear the brand name “SMEA”.
According to the subject, the subject’s jewellery watch features a Swiss
mechanical movement for guaranteed precision.
Besides, it has got a genuine leather strap and the case is made of 18K
gold.
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. For instance, it took part in
Hong Kong Jewellery & Gem Fair which had been held during 21st to 25th
September, 2009. In 2010, it took part
in Hong Kong Watch & Clock Fair which had been held during 6th to 10th
September, 2010.
The subject’s total amount outstanding registered with the Companies
Registry of Hong Kong as at late October 2010 amounted to HK$28.8 million.
The annual sales turnover of the subject ranges from HK$15 to 20
million. Making a small profit every
year. Business is chiefly handled by Ms.
Rachel Cheng who is a Hongkongnese.
The history of the subject in Hong Kong is over six years and seven
months.
On the whole, consider it good for normal business engagements.
COURT CASES: None
per our.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
15-12-2008 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate of Maturity
Date 2008 FD 262 2 24-11-2008 AU$ 558,102.78 3.875% 24-12-2008 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All and any liabilities |
|
21-06-2010 |
Instrument: Undertaking Relating to Deposits Property: Distinctive Date of Amount Rate of Maturity
Date 2009 FD 244 2 10-03-2010 US$ 234,903.18 0.640% 10-09-2010 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All and any liabilities |
|
21-03-2011 |
Instrument: Security Over Deposits with the Bank
(Limited Company – Under Seal) Property: Initially HK$5,000,000.00 or equivalent and all monies whether now or hereafter
standing to the credit of the Company’s deposit with the Bank under deposit
No. 636-595324-838 and whatever currency it may subsequently be denominated
in, any renewal of such deposit and the interest thereon together with any
further moneys in any deposit account with the Bank at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all monies in respect of banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.