MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
H.K. IMPEX |
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Registered Office : |
Unit 1011, 10/F, Peninsula Square, West Wing, 18 Sung On
St., Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
1-1-2002 |
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Com. Reg. No.: |
32290536 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of diamond. |
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 : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
H.K. IMPEX
UNIT 1011, 10/F, PENINSULA SQUARE,
WEST WING, 18 SUNG ON ST., HUNGHOM, KOWLOON, HONG KONG.
TEL: 852 27246530 / 23678114
FAX: 852 23687147
EXECUTIVE SUMMARY
INCORPORATION DATE :
1-1-2002
REGISTRATION NO. :
32290536
REGISTERED LEGAL FORM : SOLE
PROPRIETORSHIP
CHIEF EXECUTIVE : LUNAGARIA BHAGWANJI VIRJI (SOLE PROPRIETOR)
STAFF STRENGTH :
3
AUTHORIZED CAPITAL : [IN HONG KONG, UNLIMITED COS. ARE NOT REQUIRED TO
FILE ITS
CAPITAL PARTICULARS TO BR OFFICE (THE
INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
TRADING OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81552 = USD1 AS OF 2007-04-02
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 was established under Business Registration number 32290536 on
1-1-2002 with present status as sole proprietorship.
Currently obtained BR copy indicate the particulars of SC's principal(s)
are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Lunagaria Bhagwanji Virji B-241-Ambikanagar
Society,
/
A9633566 OPP
Aarogya Kendra, Katargam,
Swrat,
Gujarat, India.
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Nil Nil
Name(s) of retired partner(s) Leaving
date
Maniyar Urvesh Kirtikant / P0515519 28-9-2004
Dholakiya Mukesh Gopalbhai / R2618507 5-8-2003
Certain material change or amendment regarding SC within the last 4 years has been traced & noted as follows:
Change of business address : SC moved to the heading business address
from Rm 1603, 16/F, Winfield Commercial Bldg., 6-8A Part Avenue, Tsimshatsui,
Kowloon in Nov 2004.
Our onfile record that SC is affiliated to Hari Krishna Exports whose
partial information is as follows:
Year established : NA
Registered/business
address : 315, Prasad Chambers, Opera
Hse., Mumbai-4, India.
Business line : It is engaged in
manufacturing & export of diamond & stadded jewellery. It has
business operations in India, HONG KONG
& New York.
No. of employees : Approx. 500
Civil litigation & winding-up petition : None in our database
Turnover :
NA
Lunagaria Bhagwanji Virji, sole proprietor:
- He is by Indian nationality
- Embarked upon his career to present field as an apprentice in his
early 20's
Currently residing in India & only visits Hong Kong for business
occasionally.
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
Our search indicated that Dholakiya Mukeshkunmar G is responsible for SC's day to day operation & its management.
Ownership background appraisal:
Rating : 3 Obtained scores : 60 (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.
Upon a current contact, Mr. Patel, SC's administrator, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
Banking relations are maintained principally with:
- Bank of India
- Antwerpse Diamantbank N.V.
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 records 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): In HONG KONG, unlimited companies are not
required to file its charge particulars for public inspection.
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.
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.
Business categories:
SC is engaged in trading of diamond.
Items available include oval gemstones, pearl, marquise, etc.
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : SC's affiliate in India
Buying terms :
Intercompany account basis
Principal market :
Local--type
of customers : Manufacturers,
wholesalers, retailers & exporters
Selling
terms : Credit of 30
to 60 days
Overseas--buying
countries : PR China (mainly) & SE
Asia
Selling
terms : L/C &
T/T
Total number of employees : 3
Location : Maintaining
its office at the heading business address which occupies a gross area of 800
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
The premises is rented.
SC also maintains 6 factories in India (total workforce: 4,000)
SC's overseas affiliates:
- H.K. Designs (India) Speepz Unit (in India)
- H.K. Jewels (in India)
- Gopi Diam Inc. (in USA)
- H.K. Diam Bvba (in Belgium)
- H.K. Designs Inc. (in USA)
- H.K. International (in USA)
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Credit in the range of moderate amount can be considered.
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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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%)