MIRA
INFORM REPORT
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Report Date : |
9th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
DOSHI IMPEX LTD. |
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Registered Office : |
Rm 905,
9/F, Peninsula Square, 18 Sung
On Street, Hunghom, Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
11-8-2004 |
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Com. Reg. No.: |
916441 |
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Legal Form : |
Private limited company |
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Line of Business : |
Engaged in trading of diamonds &
jewellery products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME & ADDRESS
DOSHI IMPEX LTD.
RM 905,
9/F, PENINSULA SQUARE,
18 SUNG
ON STREET, HUNGHOM, KOWLOON, HONG KONG.
TEL: 852
27392188
FAX: 852
27392345
EXECUTIVE SUMMARY
INCORPORATION DATE : 11-8-2004
REGISTRATION NO. : 916441
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : DOSHI KIRITKUMAR VINODRAI (DIRECTOR)
STAFF STRENGTH : 6
(SHARING WITH ITS AFFILIATE).
AUTHORIZED
CAPITAL : HKD 10M = 10M SHARES @ HKD 1.-
PAID-UP
CAPITAL : HKD 6M
BUSINESS LINE : TRADING OF DIAMONDS & JEWELLERY PRODUCTS
TURNOVER :
N/A (AS OF DEC. 31, 2004)
EQUITIES :
N/A (AS OF DEC. 31, 2004)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD7.76215 = USD1 AS OF 2006-06-09
SC is a private limited company registered under incorporation file no. 916441 on 11-8-2004.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 11-8-2005) Number of shares held
Doshi Kiritkumar Vinodrai 3,000,000
Doshi Nayna Kirit 3,000,000
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6,000,000
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Directors (as at 11-8-2005)
Doshi Kiritkumar Vinodrai / K698116(A)
Doshi Nayna Kirit / P143549(7)
The above registration information is based on SC's annual return filed at Companies Registry within the last 2 years.
Our current search reveals certain material change or amendment of SC has been recorded within the last 2 years & noted as follows:
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation date
Nil Nil
Name(s) of newly appointed director(s) Appointment date
Doshi Kiritkumar Vinodrai 11-8-2004
Doshi Nayna Kirit 11-8-2004
Total number of employees : 6 (sharing with its affiliate).
Location : Maintaining its office at the heading business address which occupies a gross area of 1,800 square feet at a commercial building in a commercial & industrial district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
This section will contain the civil litigations & winding-up petitions filed against SC for the last 6 years (as stored in our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges by an unlimited co is not required to be registered in the public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date : 11-5-2005
Charger(s) : SC
Chargee(s) : ABN AMRO Bank N.V.
Secured amount : ANS
Charge particulars : Debenture
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2005
Year(s) in which mortgage satisfaction record(s) are filed: Nil
Doshi Kiritkumar Vinodrai, director & co-founder:
- Embarked upon his career to present field as a junior salesman in his mid 20's
- He was born in India & moved to HK in the early 80's
- Also currently the principal of Doshi Impex and SC's affiliates
Currently active in SC's day-to-day operations & is responsible for its management.
Registered residential address: Flat H, 14/F, Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, HK.
Property ownership: Current land search indicates the said premises ownership as follows:
- Owner(s) : Doshi Kiritkumar Vinodrai & Doshi Nayna Kirit
- Date of purchase & consideration: 7-10-2000 / HKD 4.11M
- Date of mortgage & secured amount: 11-5-2005 / ANS
- Mortgagee : ABN AMRO Bank N.V.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Bankruptcy/winding-up petitions : None in our database
Delinquent payment records : None in our database
Debt collection records : No overdue amount owed by the said person was placed to us
for collection
Civil litigations : (X) see below ( ) see per attached
Date : 10-6-1999
Defendant(s) : Doshi Bipin Vinodrai BTH Doshi Kiritkumar Vinodrai t/a Doshi Impex
Plaintiff(s) : City Telecom HK Ltd.
Cause of claims : Amount due
Claimed amount: ANS
Doshi Nayna Kirit, director & co-founder:
- In her 40's
- Embarked upon her career to present field as a junior saleswoman in her mid 20's
- Also currently the principal of Doshi Diam, SC's affiliate
Currently active in SC's day-to-day operations & is responsible for its management.
Registered residential address: Same as Doshi Kiritkumar Vinodrai.
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Civil litigation as defendants : None in our database
Bankruptcy/winding-up petitions : None in our database
Delinquent payment records : None in our database
Debt collection records : No overdue amount owed by the said person was placed to us
for collection
Ownership background appraisal:
Rating :3 Obtained scores : 58 (see explanatory notes below)
Keys :1 : scores 81-100 : Excellent
2 : scores 61-80 : Good
3 : scores 46-60 : Average
4 : scores 21-45 : Fair
5 : scores 01-20 : Poor
The rating indicates the personal financial & operational strength of SC's major principals. It is calculated from a composite of scores obtained from the following 5 factors which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation, business experience & track record, market connection and management skill.
Business categories :
SC is engaged in trading of diamonds & jewellery products.
Items available include diamond, gemstones, ruby, sapphire, emerald, precious & semi-precious stones & jewellery sets (including necklaces, rings, earrings, pendants, etc).
Principal purchases :
Major types of sourcing : Merchandise
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : Belgium & Thailand
Buying terms : T/T & L/C
Principal market :
Local--type of customers : Manufacturers & wholesalers
Selling terms : COD & credit of 30-60 days
Overseas--buying countries : PR China(mainly), SE Asia & other Asian countries
Selling terms : T/T, L/C & special agreed terms
Jointly occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company name : Doshi Impex
Year established : 1994
Business nature : Similar to SC
Address : Same as heading business address
Turnover : NA
Civil litigation & winding-up petition records: See below
A check of our database indicated that the said co. was sued in the following civil claim(s):
Date : 10-6-1999
Defendant(s) : Doshi Bipin Vinodrai BTH Doshi Kiritkumar Vinodrai t/a the said co.
Plaintiff(s) : City Telecom HK Ltd.
Cause of claim : Amount due
Claimed amount : ANS
Affiliate(s):
Company name : Doshi Diam
Year established : 2001
Business nature : Similar to SC
Address : Same as heading business address
Turnover : NA
Civil litigation & winding-up petition records: None in our database
Overall payment appraisal :
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current enquiry with SC's suppliers), our delinquent payment records and our debt collection record concerning SC.
Trade payment experience : Owing to the nature of its operation, SC is not an active seeker of local commercial credit. Its expenses in the form of accruals and servicing are reportedly met in a prompt manner.
Delinquent payment record : None in our database.
Debt collection record : No overdue amount owed by SC was placed to us for collection within the last 6 years.
Banking relations are maintained principally with: ABN AMRO Bank N.V.
During our report preparation, the principals could not be contacted
while the staff members hesitated to release financial information without the
principals' consent.
SC is considered small-sized in its line locally with acceptable base to meet its normal dealings. Credit up to moderate amount may be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted indicate that SC was not involved in any property transaction (both purchase & disposal) in Hong Kong for the last 6 years.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |