MIRA INFORM REPORT

 

 

Report Date :           

23.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SONU  DIAM

 

 

Registered Office :

Flat B, 9/F., Kun Lock Building, 178 Nathan Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.07.1991

 

 

Com. Reg. No.:

14740317-000-07

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, 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 :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

SONU  DIAM

 

 

Company ADDRESS

 

Flat B, 9/F., Kun Lock Building, 178 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:           Mr. Rajesh Khodidas Mehta

 

 

SUMMARY

 

Establishment:                          30th July, 1991.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Annual Turnover:            HK$6~10 million.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat B, 9/F., Kun Lock Building, 178 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

14740317-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Rajesh Khodidas Mehta

 

 

PARTNERS

 

Name:                           Mr. Rajesh Khodidas MEHTA

Residential Address:      Flat C, 8/F., Kamma Building, 16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Mr. Jimish Nareshkumar SAVANI

Residential Address:      Flat F, 5/F., Windsor House, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 30th July, 1991 as a sole proprietorship concern owned by Mr. Manish Babubhai Shah under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Manish Babubhai Shah

30-07-1991

01-04-2002

Rajesh Khodidas Mehta

01-04-1996

-

Mahesh K. Shah Rishitbhai

01-04-2002

01-04-2006

Jimish Nareshkumar Savani

01-04-2006

-

 

Initially the subject was located at Flat C, 8/F., Kamma Building, 16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to 6/F., 17 Cameron Road, Tsimshatsui, Kowloon, Hong Kong in September 2001; and further moved to the present address in July 2007.

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, emerald, precious stones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, etc.

 

Annual Turnover:            HK$6~10 million.

 

Terms/Sales:                 L/C or as per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a fairly active condition.

 

Facilities:                      Rather actively using general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

GENERAL

Sonu Diam is a partnership jointly owned by Mr. Rajesh Khodidas Mehta and Mr. Jimish Nareshkumar Savani, both of whom are Indian.

The subject does not have its own operating office.  Its registered address is in a private building where seems to be the residence of one of the partners.  The subject’s registered address is also the new residential address of one of the partners.  It is likely that the subject has not updated its information filed with the Inland Revenue Department Business Registration Office of the Hong Kong SAR Government.

The subject’s old address was located at 6/F., 17 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.  It had been there during the period of September 2001 and July 2007.  But your given address 6Fl, Tung Fai Building, 27/A, Cameron Road, TST Kowloon is incorrect.

Business commenced in July 1991, the subject is trading in loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, etc.  Rough diamonds, polished or cut diamonds are imported from India, Belgium and other European countries, etc.  However, India is its main supplying country.

Some of the commodities are polished and cut diamonds.  Some of the rough diamonds are polished or processed in Hong Kong or China.  Finished products and polished diamonds are marketed in Hong Kong, exported or re‑exported to Japan, other Asian countries, the Middle East, etc.

The subject is a two-man company.  Annual sales turnover ranges from HK$6 to 10 million.  Keeping a balance account or just making a very small profit every year.

Most of the time, Rajesh Khodidas Mehta is not in Hong Kong.

On the whole, as the history of the subject in Hong Kong is over nineteen years and nine months, consider it good for normal business engagement.

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.92

Euro

1

Rs.64.34

 

 

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.