MIRA INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BRILLIANT
DIAMONDS LTD. |
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Registered Office : |
Room 906-907, 9/F., Stag Building, 148-150 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.12.2002 |
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Com. Reg. No.: |
33232361 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamond |
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 : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
BRILLIANT DIAMONDS LTD.
Company ADDRESS
Room 906-907, 9/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong.
PHONE: 2545 5886
FAX: 2815 4568
MANAGEMENT
Managing Director: Ms. Lau Tsui Yan
SUMMARY
Incorporated on: 18th December, 2002.
Organization: Private Limited Company.
Capital: Nominal: US$100,000.00
Issued: US$10,000.00
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 906-907, 9/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong.
Holding Company:-
Pacific Regent Trading Ltd., British Virgin Islands.
BUSINESS REGISTRATION NUMBER
33232361
COMPANY FILE NUMBER
0826413
MANAGEMENT
Chief Executive Officer: Mr. Ivan Wong
Managing Director: Ms. Lau Tsui Yan
CAPITAL
Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of US$1.00 each)
Issued Share Capital: US$10,000.00
SHAREHOLDER
(As per registry
dated 18-12-2010)
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Name |
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No. of shares |
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Pacific Regent Trading Ltd. 263 Main Street, P.O. Box 2196, Road Town, Tortola, British Virgin Islands. |
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10,000 ===== |
DIRECTORS
(As per registry
dated 30-03-2011)
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Name (Nationality) |
Address |
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Bhavik Jayesh SHAH |
Room 906-907, 9/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong. |
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LAU Tsui Yan |
Room 906-907, 9/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong. |
SECRETARY
(As per registry
dated 18-12-2010)
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Name |
Address |
Co.
No. |
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Louis Lai Co. Secretarial Services Ltd. |
9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong. |
0686503 |
HISTORY
The subject was incorporated on 18th December, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the registered office of the subject is in a secretarial service firm located at 9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong known as Louis Lai Company Secretarial Services Ltd. [Louis Lai] which is handling its correspondences and documents. Louis Lai is an affiliated company of Fung & Pang CPA Ltd. which is an accountant firm. Louis Lai is also the corporate secretary of the subject. With effect from 1st June, 2010, the subject moved to the present address.
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.
Employees: 3.
Commodities Imported: India, etc.
Markets: Hong Kong, India, UAE, US, etc.
Terms/Sales: L/C, 60-120 days credit, etc.
Terms/Buying: L/C, 90 days credit, etc.
FINANCIAL INFORMATION
Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of US$1.00 each)
Issued Share Capital: US$10,000.00
Profit or Loss: Making a very small profit in the past years.
Condition: Business is normal.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· Industrial & Commercial Bank of China Ltd., Hong Kong Branch.
Standing: Small.
GENERAL
Brilliant Diamonds Ltd. has issued 10,000 ordinary shares of US$1.00 each. Formerly 9,999 shares were held by Brilliant Diamonds Ltd. which was a Mauritius-registered firm. The other single share was held by Nomsec No. 1 Ltd. which was a nominee firm. Both firms transferred their shares to Pacific Regent Trading Ltd. which is a BVI-registered firm. Now, Pacific Regent Trading Ltd. owns 100% interests of the subject.
The corporate secretary of the subject is Louis Lai Co. Secretarial Services Ltd. [Louis Lai].
The directors of the subject are Ms. Lau Tsui Yan and Mr. Bhavik Jayesh Shah. The former is a Hong Kong businesswoman while the latter is an Indian. Shah is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
Formerly the subject’s registered address was located at the operating address of Louis Lai, moved to the present address in June 2010.
The subject is a diamond trader and a commission agent. It is engaged in the import, export and sale of polished diamonds. Polished diamonds are mainly bought from India and partly from local dealers. Prime markets are Hong Kong, India, Dubai, the United States, etc. Business keeps on improving.
The CEO of the subject Mr. Ivan Wong is a Hongkongnese.
On the whole, consider it good for business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.89 |
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UK Pound |
1 |
Rs.75.31 |
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Euro |
1 |
Rs.65.64 |
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.