MIRA INFORM
REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
APEX
DIAMONDS |
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Registered Office : |
Room 1505, 15/F., |
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Country : |
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Date of Incorporation : |
07.01.1991 |
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Com. Reg. No.: |
14192841-000-01 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds, precious stones, jewellery, etc |
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 : |
Moderate |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company name
APEX DIAMONDS
Company ADDRESS
Room 1505, 15/F.,
PHONE: 2314 4953, 2314 4954
FAX: 2314 4956
E-MAIL: apexdiam@hknet.com
MANAGEMENT
Manager: Mr. Sunil Sumatilal Shah
SUMMARY
Establishment: 7th January, 1991.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: Hang Seng Bank Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Room 1505, 15/F.,
Affiliated Company:-
Apex Diamonds Ltd.,
BUSINESS REGISTRATION NUMBER
14192841-000-01
MANAGEMENT
Manager: Mr. Sunil Sumatilal Shah
PARTNERS
Name: Mr. Sunil Sumatilal SHAH
Residential Address: Flat
G, 2/F.,
Name: Mr. Nita Sunil SHAH
Residential Address: 7/F.,
Dragon House, 7A
HISTORY
The subject was established on 7th January, 1991 as a sole proprietorship concern owned by Mr. Sunil Sumatilal Shah under the Hong Kong Business Registration Regulations. It became a partnership on 1st April, 2004 as Mr. Nita Sunil Shah was admitted as a partner.
At the very beginning, the subject was located at Flat G, 2/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address of Mr. Sunil Sumatilal Shah, moved to 14/F., Chun Fook Mansion, 1 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong in February 1995; to Room 1502, 15/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in July 1997; to Room 1407, 14/F. of the same building in May 2005; and further to the present address in May 2008.
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, precious stones, jewellery, etc.
Employees: 5.
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
The Federation of Hong Kong Watch Trades & Industries Ltd., Hong Kong.
The Indian Chamber of Commerce Hong Kong,
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal condition.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd.,
Standing:
GENERAL
Apex
Diamonds is a partnership concern jointly owned by Mr. Sunil Sumatilal Shah and
Mr. Nita Sunil Shah. The two Shahs are
Indian who have been in
The subject has had an affiliated company Apex Diamonds Ltd. [ADL], a Hong Kong-registered firm, located at its operating office. ADL was incorporated on 2nd December, 2008. ADL is also owned by the Shahs.
The
subject is a diamond and jewellery product trader. Raw materials are imported from
The
subject is a member of The Indian Chamber of Commerce Hong Kong, and The
Federation of Hong Kong Watch Trades & Industries Ltd.,
The subject’s business is chiefly handled by the two Shahs. Overall business is satisfactory. Regular suppliers and customers have been maintained.
Since
the history of the subject in
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.44.78 |
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|
1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
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 |
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.