MIRA
INFORM REPORT
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Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PACIFIC DIAM LTD. |
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Registered Office : |
7/F., |
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Country : |
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Date of Incorporation : |
05.10.1995 |
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Com. Reg. No.: |
19478509 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Polished diamond trader |
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 : |
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 |
Name and address
PACIFIC DIAM
LTD.
ADDRESS: 7/F.,
PHONE: 2723 7889, 2723 7859
FAX: 2723 5214
E-MAIL: osanghvi@hotmail.com
MANAGEMENT
Managing Director: Mr. Ojas
Sarojchandra Sanghvi (Mobile: 9022 7915)
SUMMARY
Incorporated on: 5th
October, 1995.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Diamond Trader.
Employees:
5.
Main Dealing Banker: Hang Seng Bank Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
7/F.,
BUSINESS REGISTRATION NUMBER
19478509
COMPANY FILE NUMBER
0527264
MANAGEMENT
Managing Director: Mr. Ojas
Sarojchandra Sanghvi
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 05-10-2010)
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Name |
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No. of shares |
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Ojas Sarojchandra SANGHVI |
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800,000 |
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Rinku Ojas SANGHVI |
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200,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry dated 05-10-2010)
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Name (Nationality) |
Address |
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Ojas Sarojchandra SANGHVI |
Osia Corner, Opp: Mahalaxmi Colony, Amboli Andheri (West),
Mumbai-400058, |
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Rinku Ojas SANGHVI |
402 Osia Corner, Opp Mahalaxmi Colony, 66 Swatantra Sainik Marg,
Amboli Andheri (West), Mumbai-400058, |
SECRETARY
(As per registry dated 05-10-2010)
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Name |
Address |
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Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, |
0113023 |
HISTORY
The subject was incorporated on 5th October, 1995 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat C, 5/F., South Sea Apartments,
81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat D, 4/F. of
the same building in January 2004; and further moved to the present address in
September 2008.
Apart from these, neither material change nor amendment has been ever traced
and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Polished
diamond trader.
Employees: 5.
Commodities Imported:
Markets:
Terms/Sales:
L/C,
T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory condition.
Facilities: Making active use of general banking
facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Hang Seng Bank Ltd.,
Bank of
Standing:
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, Pacific Diam
Ltd. is jointly owned by Mr. Ojas Sarojchandra Sanghvi, holding 80% interests;
and Mr. Rinku Ojas Sanghvi, holding 20%.
Being Indian merchants, the two Sanghvis are also directors of the
subject. Mr. Ojas Sarojchandra Sanghvi
is a Hong Kong ID Card holder and has got the right to reside in
The subject, established in 1995, is a leading Hong Kong-based diamond
manufacturer having global trading and marketing enterprises. It is engaged in diamonds cutting, polishing,
marketing, and retailing. The subject
started as a diamond trading company and has since evolved rapidly into a major
manufacturing business. It is producing
fine diamonds from rough stones and supplying them to jewellery stores and
auction houses throughout the world. Its
cut and polished diamonds range from 0.50 carat to 30 carats. The quality and the value of each diamond are
guaranteed by a Belgian HRD (Hoge Raad voor Diamant - Diamond High Council),
IGI (International Gemmological Institute) or American GIA (Gemmological Institute
of America) diamond certificate.
The subject’s diamonds are imported from
The subject belongs to the Sanghvi family who have affiliated diamond
factories in
On the whole, since the history of the subject in
REMARKS
Court Cases: None per our.
Property information of
the company:-
Property Location: 7/F.,
Owner: Pacific Diam Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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31-03-2008 |
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Hang Seng Bank Ltd., |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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13-04-2007 |
Instrument: Charge Over Securities Property: The Company’s securities account No. 339-002578-382 Mortgagee: Hang Seng Bank Ltd., |
To secure all monies |
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31-03-2008 |
Instrument: Mortgage Property: 2/51st parts or shares of and in Kowloon Inland Lot No. 8435 (7/F. of
Tung Fai Building, 27-27A Cameron Road, Kowloon, Hong Kong.) Mortgagee: Hang Seng Bank Ltd., |
All moneys |
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25-06-2008 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: All the Company’s estate, right, title, claim, benefit and interest to
and in the Deposit (No. 012-3587348-2) and all interest from time to time
payable thereon and together with all title deeds or documents relating
thereto Mortgagee: Bank of |
All moneys in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.69 |
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1 |
Rs.73.12 |
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Euro |
1 |
Rs.64.39 |
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.