MIRA INFORM
REPORT
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Report Date : |
25.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MANAN
DIAM |
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Registered Office : |
Room 1706, 17/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.07.2009 |
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Com. Reg. No.: |
50901672-000-07 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of loose and cut diamonds |
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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
Company name
MANAN DIAM
Company ADDRESS
c/o Vama International (H.K.) Ltd.
Room 1706, 17/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2312 1602
FAX: 2312 1604
MANAGEMENT
Manager: Mr. Suyit
SUMMARY
Establishment: 20th July, 2009.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: 4. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Associated
Companies:- (Same address)
c/o Vama International (H.K.) Ltd.
Room 1706, 17/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
HK Star, Hong Kong.
Vama International (H.K.) Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
50901672-000-07
MANAGEMENT
Manager: Mr. Suyit
SOLE PROPRIETOR
Name: Mr. Suyit
Residential Address: No. (39), United Condo (Hoi), Alan Phaya Road, Dagon Township, Yangon, Myanmar.
HISTORY
The subject was established on 20th July, 2009 as a sole proprietorship concern owned by Mr. Suyit under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of loose and cut diamonds.
Employees: 4. (Including associates)
Commodities Imported: India, Myanmar, other Asian countries, etc.
Markets: Hong Kong, 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: Kept a balance account in Hong Kong.
Condition: Business is not very active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Manan Diam is a sole proprietorship set up and owned by Mr. Suyit who is a Myanmar passport holder. He does not have the right to reside in Hong Kong permanently. Currently, he is in Yangon, Myanmar.
The subject does not have its own operating office. Its registered office is in a diamond trader located at Room 1706, 17/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong known as Vama International (H.K.) Ltd. [Vama] which is handling its correspondences and documents.
Business commenced on 20th July, 2009, the subject is also a diamond trader. It imports rough, cut or polished loose diamonds from Myanmar and India. Commodities are marketed in Hong Kong or re-exported to Japan and the other Asian countries. Business is still under development.
Vama was incorporated in Hong Kong on 10th May, 2006. The contact person is Mr. Nimesh Mistry.
Trading in loose diamonds, Vama was an exhibitor of the Hong Kong International Jewellery Show 2009. Vama seems to be a business partner of the subject. All the employees in the office belong to Vama.
Another firm HK Star is also using the address of Vama’s operating office as its registered address. HK Star is a sole proprietorship set up and owned by Mr. Gavrav Yogesh Joshi who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
HK Star and the subject are engaged in the same lines of business.
The subject’s business is chiefly handled by Suyit himself.
It is likely that the subject has got an associated company in Myanmar which is also operated by Suyit. However, details are unknown.
It is likely that the Myanmar firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The Myanmar firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
Since the history of the subject in Hong Kong is less than two years, on the whole, consider it good for business engagements on secured basis.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.71.89 |
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Euro |
1 |
Rs.64.09 |
RATING EXPLANATIONS
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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.