MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
HINI
STAR LIMITED |
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Registered Office : |
Unit
1001-1002, 10/F, Tower 2, Harbour Centre, 8 Hok Cheung St., Hunghom, Kowloon,
Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.08.2003 |
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Com. Reg. No.: |
856743 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in Trading & Wholesale of Diamond |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
HINI
STAR LTD.
UNIT
1001-1002, 10/F, TOWER 2, HARBOUR CENTRE,
8 HOK CHEUNG ST.,
HUNGHOM, KOWLOON, HONG KONG.
TEL : 852 27244330
FAX : 852 27216516
EXECUTIVE SUMMARY
INCORPORATION DATE :
8-8-2003
REGISTRATION NO. :
856743
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : VIRANI RASILA RAMESH (DIRECTOR)
STAFF STRENGTH :
10 (SHARING WITH ITS ASSOCIATED COS. & BUSINESS
PARTNERS)
AUTHORIZED
CAPITAL : HKD 78M = 78M
SHARES @ HKD1.-
PAID-UP
CAPITAL : HKD 78M
BUSINESS LINE :
TRADING & WHOLESALE OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : FAIRLY LARGE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.77589
= USD1 AS OF 2006-11-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC is a private limited company registered under
incorporation file no. 856743 on 8-8-2003.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 8-8-2006) Number
of shares held
Virani Rasila
Ramesh 65,550,000
Virani Rameshkumar
Bhikhabhai 11,700,000
Khunt Pankajkumar
Vitthalbhai 450,000
Karp Impex HK Ltd. 300,000
------------
78,000,000
========
Directors (as at 8-8-2006)
Virani Rameshkumar Bhikhabhai / P162827(9)
Virani Rasila Ramesh / P172254(2)
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:
Shares allotments on 20-7-2005:
Allottee(s) No.
of share(s)
Virani Rasila Ramesh 53,550,000
Virani Rameshkumar Bhikhabhai 9,450,000
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 : 1-9-2005
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Mortgage (Same as
heading business address)
Mortgage Index:
Year(s) in which mortgage registration(s) are
filed: 2003, 2005
Year(s) in which mortgage satisfaction record(s)
are filed: 2006
Karp Impex HK Ltd.*, shareholder, whose partial
information is as follows:
Year established : 2003
Registered/business
address :
Same as heading business address
Business
line :
It is engaged in importing, wholesale & distribution of
diamonds to clients in Hong Kong & PR
China
No. of employees : 4 (in Hong Kong)
Civil litigation & winding-up petition records : None in our database
Turnover :
NA
* The said co., in turn, is a wholly-owned
subsidiary of Karp Impex Ltd., whose partial information is as follows:
Year established : 1983
Registered/business
address :
Shanta Bhuvan, 66 Kumudwai, Bhavnagar-364002,
Gujarat, India.
Business
line :
It is engaged in import, export, process, polish,
wholesale & distribution of diamond to
Europe, USA &
worldwide.
No. of employees : 8,000
Civil litigation & winding-up petition records : None in our database
Turnover :
NA
Virani Rasila Ramesh, director:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as heading
business address.
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
Virani Rameshkumar Bhikhabhai, director:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as heading
business address.
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 : 2 Obtained scores : 65 (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 & wholesale of
diamond.
Items available include baguettes, marquises,
ovals, pears, trillient, sapphire, precious & semi-precious stones.
Principal purchases :
Major types of sourcing :
Diamond, precious & semi-precious stones
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India (including SC's parent, Karp Impex Ltd.), Thailand, S. Africa,
Europe & other SE Asian countries
Buying terms :
L/C, T/T & intercompany account basis
Principal market :
Local--type of customers :
Wholesalers, retailers & dealers
Selling terms :
Special agreed terms
Overseas--buying countries : PR
China & USA
Selling terms :
Special agreed terms
Total number of
employees : 10 (sharing
with its associated cos. & business partners).
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,500 square feet at a commercial
building in a commercial district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
Property ownership : Current land search indicates
the ownership details of the captioned premises as follows:
- Owner(s) :
SC
- Date of purchase & consideration : 1-9-2005 / HKD19,000,300
- Date of mortgage & secured amount : 1-9-2005 / ANS
- Mortgagee :
HSBC
Jointly occupying the premises with Karp Impex HK
Ltd. and the below mentioned associated co..
Associate co.:
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- Name : Hini Star
- Year established : 1991
- Business line : Similar to SC
- 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 business, SC is not an active seeker of local commerical credit
since merchandise/materials are imported. Its expenses in the form of accruals
and servicing are reportedly met in 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:
- KBC Bank N.V.
- HSBC
Upon a
current contact, SC's principal(s) declined forwarding any financial
information on the ground that SC is a private venture whose data is not
required for public inspection.
As per current co. search, total amount of
indebtedness of SC in respect of all mortgages and charges which are required
to be registered with Companies Registry as at 8-8-2006 was nil.
SC is considered a well-maintained business with
solid base to meet fairly large amount of credit dealings.
Partial registration information regarding Karp
Impex HK Ltd. is as follows:
Date of incorporation: 19-2-2003
Authorized capital: HKD10M divided into 10M shares
@ HKD1.-
Paid-up capital: HKD5.46M
Shareholders (as
at 20-3-2006) Number
of shares held
Karp Impex Ltd. 5,459,999
*Virani Anikumar
Bhikhabhai 1
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5,460,000
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Directors (as at 19-2-2006)
*Also director
Virani Kisharkumar Bhikhalal
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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