MIRA INFORM REPORT

 

 

Report Date :           

12.05.2011

 

IDENTIFICATION DETAILS

 

Name :

STAR  DIAM  LTD.

 

 

Registered Office :

Room 1406, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

28.05.2005

 

 

Com. Reg. No.:

35669566

 

 

Legal Form :

Private Limited Company

 

 

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 :

Small Company 

Payment Behaviour :

Usually Correct

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

STAR  DIAM  LTD.

 

 

Company ADDRESS

 

Room 1406, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2369 6909

FAX:                 2369 6906

 

 

MANAGEMENT

 

Managing Director:  Mr. Nimit Shailesh Shah

 

 

SUMMARY

 

Incorporated on:             28th May, 2005.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Diamond Trader.

 

Employees:                   3.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1406, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35669566

 

 

COMPANY FILE NUMBER

 

0973603

 

 

MANAGEMENT

 

Managing Director:  Mr. Nimit Shailesh Shah

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 28-05-2010)

 

Name

 

No. of share

Nimit Shailesh SHAH

 

1

=

 

DIRECTORS  

(As per registry dated 28-05-2010)

 

Name

(Nationality)

 

Address

Nimit Shailesh SHAH

Flat L, 17/F., Tower 2, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong.

 

Nirav Shailesh SHAH

Lady North Court Building No. 2, 4/F., 5 Chowpatti Road, Mumbai 7, India.

 

 

SECRETARY

(As per registry dated 28-05-2010)

 

Name

Address

Bayani Divino Bautista PONCE

13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

HISTORY

 

The subject was incorporated on 28th May, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

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:                   3.

 

Commodities Imported:   India, Belgium, other European countries, 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

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Making a small profit in the past years.

 

Condition:                      Business is rather active.

 

Facilities:                      Adequate for current running.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued just 1 ordinary share of HK$1.00, Star Diam Ltd. was wholly owned by M. Shailesh & Company which was an India-based firm.  On 17th December, 2009, M. Shailesh & Company transferred its single share to Mr. Nimit Shailesh Shah.  Now, the subject is wholly-owned by N. S. Shah.  N. S. Shah is also the Managing director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  The other director is Mr. Nirav Shailesh Shah who is also an Indian.

The subject is a diamond importer, exporter and wholesaler.  It trades in loose diamonds, brown and black diamonds.  It also trades in polished and cut diamonds.  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, emerald cut, taper, tapered baguette, fancy cut and fancy colour diamonds, briollets beads, old mine cut diamonds round brilliant cut diamonds, marquise, pears, oval, heart, trilliant, etc.  It is specialised in white diamonds, from PK quality to VS quality, TTLB, off white black dark brown, treated diamonds in round shape.  Caret size is 6.5 or over.

The subject’s rough, loose and fancy diamonds are chiefly imported from India.  Other diamonds are imported from Belgium and other European countries.  Diamonds are processed, polished and cut in Hong Kong or China.  Finished products are marketed in Hong Kong, exported to Japan, other Asian countries, Europe, etc.

The subject’s former parent company M. Shailesh & Company is in Mumbai, Maharashtra, India which is a diamond manufacturer and trader.  It is the chief supplier of the subject.

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 is going to take part in Hong Kong International Jewellery Show which will be held during the period of 16th to 20th February, 2012.

The history of the subject in Hong Kong is about six years.  Business is improving.  Solely operated by the Shah family.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our.

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

13-08-2007

Instrument:      Assignment of Receivables – General with Notice of Assignment

Property:

In consideration of the Banking Facilities, the Customer, as beneficial owner and by way of security for the payment of the Secured Monies, hereby assigns, and agrees to assign, to the Bank the Receivables until all the Secured Monies have been paid or discharged

Mortgagee:      The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

To secure all monies in respect of banking facilities

22-04-2010

Instrument:      Assignment of Life Insurance

Property:

(i) All the Assignor’s claims, options, privileges, right, title, interest and benefit in and under the Insurnace; and (ii) all the Assignor’s claims and rights against the issuer of the Policy in respect of the Policy

Mortgagee:      The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Secured Indebtedness

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.69

UK Pound

1

Rs.73.12

Euro

1

Rs.64.39

 

 

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

----

NB

New Business

----

 

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.