MIRA INFORM REPORT

 

 

Report Date :

01.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

EURODIAM

 

 

Registered Office :

Room 1202, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong  

 

 

Date of Incorporation :

10.11.2008

 

 

Com. Reg. No.:

39979844-000-11

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc.

 

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 :

Moderate

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Hong Kong  

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

EURODIAM

 

 

company address

 

Room 1202, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:                  2301 2355

 

 

MANAGEMENT

 

Manager:  Mr. Rajiv Shah

 

 

SUMMARY

 

Establishment:        10th November, 2008.

 

Organization:           Sole Proprietorship.

 

Capital:                   Not disclosed.

 

Business Category:  Diamond Trader.

 

Employees:             2.

 

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

 

Banking Relation:      Fair.

 

company address

 

Head Office:-

Room 1202, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

39979844-000-11

 

 

MANAGEMENT

 

Manager:  Mr. Rajiv Shah

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Rajiv SHAH

Residential Address:      50-52 Ezenich Strasse, 55743 Idar-Oberstein, Germany.

 

 

HISTORY

 

The subject was established on 10th November, 2008 as a sole proprietorship concern owned by Mr. Rajiv Shah under the Hong Kong Business Registration Regulations.

Initially the subject was located at Room 2207-2209, 22/F., Lippo Centre, Tower 2, Admiralty, Hong Kong, moved to the present address in March 2009.

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 products, etc.

 

Employees:                   2.

 

Commodities Imported:   India, Europe, etc.

 

Markets:                       Japan, other Asian countries, Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit & Loss:                Making a small loss in 2009.

 

Condition:                      Business keeps on improving.

 

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

 

Eurodiam is a sole proprietorship set up and owned by Mr. Rajiv Shah who is an Indian.  However, he is a Germany passport holder.  As the manager of the subject, Rajiv Shah had been in Germany for a very long time and he moved to Hong Kong in the early of 2000’s.  Now, he is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject commenced business in November 2008.  It is a loose diamond importer, exporter and wholesaler.  It is also trading in single-cut diamond, fullcut loose diamond, carat size diamonds, etc.  Most of the commodities are imported from India and Europe.  Markets are Germany, other European countries, Japan and the other Asian countries.  It seems that Germany is its main market.  Rajiv Shah has developed business ties with a number of the diamond retailers in Germany.

The subject is also the supplier, importer and exporter of versatile range of diamonds in a wide variety like rose cut diamonds, rose cut heart, rose cut round, rose cut pears, rose cut oval, rose cut marquise, fancy cut and fancy colour diamonds.  Business keeps on improving.

The subject’s business is chiefly handled by Shah himself.

The history of the subject is just over a year and ten months in Hong Kong.

On the whole, consider it good for normal business engagements on L/C basis for the time being.

 

COURT CASES:            None per our.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.72.79

Euro

1

Rs.62.15

 

 

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

 

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.