MIRA INFORM REPORT

 

 

Report Date :

13.05.2011

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND  KING  TRADING  CO.

 

 

Registered Office :

Flat M, 16/F., Block 6, Fu Ning Garden, 25 Po Ning Road, Tseung Kwan O, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.08.2001

 

 

Com. Reg. No.:

32009157-000-08

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds (including industrial diamonds).

 

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 :

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 – 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

 

Name and address

 

DIAMOND  KING  TRADING  CO.

 

 

ADDRESS:       

Flat M, 16/F., Block 6, Fu Ning Garden, 25 Po Ning Road, Tseung Kwan O, Kowloon, Hong Kong.

 

PHONE:            2701 4885

 

FAX:                 2706 6450

 

E-MAIL:            jack18cm@gmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Chen Yu Oi

 

 

SUMMARY

 

Establishment:                          1st August, 2001.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Flat M, 16/F., Block 6, Fu Ning Garden, 25 Po Ning Road, Tseung Kwan O, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

32009157-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Chen Yu Oi

 

 

SOLE PROPRIETOR

 

Name:  Mr. CHEN Yu Oi

Residential Address:      Flat M, 16/F., Block 6, Fu Ning Garden, 25 Po Ning Road, Tseung Kwan O, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st August, 2001 as a sole proprietorship concern owned by Mr. Chen Yu Oi 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 diamonds (including industrial diamonds).

 

Employees:                   Nil.

 

Commodities Imported:   India, Europe, etc.

 

Markets:                       China, 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:                Making a very small profit every year.

 

Condition:                      Keeping in a fairly active manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Diamond King Trading Co. is a sole proprietorship set up and owned by Mr. Chen Yu Oi who is a China merchant.  Now he is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered and operating address is in the residence of the sole proprietor located at Flat M, 16/F., Block 6, Fu Ning Garden, 25 Po Ning Road, Tseung Kwan O, Kowloon, Hong Kong.  The residential building is not trespassed by outsiders.  The subject has no employees in Hong Kong.

Business commenced in August 2001, the subject is a diamond (including industrial diamonds) trader.  Commodities are imported from India, Europe, etc.  Prime markets are China  and the other Asian countries, etc.

The subject is just a one-man company.  Keeping a balance account or making a very small profit in the past years.  Regular suppliers and a number of customers in China have been maintained.

The subject’s business is chiefly handled by Mr. Chen Yu Oi himself.

As the history of the subject in Hong Kong is over nine years and nine months, on the whole, consider it good for normal business engagements in small credit amounts.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.79

UK Pound

1

Rs.73.19

Euro

1

Rs.63.59

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.