MIRA
INFORM REPORT
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Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
K. GIRDHARLAL (HONG KONG) LTD. |
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Registered Office : |
Rm 1102, 11/F, Tung Shun Hing Commercial Centre, No.20-22 Granville
Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
6-3-2000 |
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Com. Reg. No.: |
760922 |
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Legal Form : |
Private |
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Line of Business : |
Engaged in trading & supply of diamond & jewellery |
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
K. GIRDHARLAL (HONG KONG) LTD.
RM 1102, 11/F, TUNG SHUN HING COMMERCIAL CENTRE,
NO.20-22 GRANVILLE ROAD, TSIMSHATSUI, KOWLOON,, HONG KONG.
TEL: 852 23116551
FAX: 852 23116553
EXECUTIVE SUMMARY
INCORPORATION DATE : 6-3-2000
REGISTRATION NO. : 760922
REGISTERED LEGAL
FORM : PRIVATE
CHIEF EXECUTIVE : SHAH VINODKUMAR
GAUTAMLAL
STAFF STRENGTH : 6
AUTHORIZED CAPITAL :
US$2M = 295,000 ORDINARY SHARES @ US$1.- +
1,705,000 PREFERRED SHARES @ US$1.-
PAID-UP CAPITAL
: US$2M
BUSINESS LINE : TRADING &
SUPPLY OF DIAMOND & JEWELLERY
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 : HKD 7.762400 = USD1 AS OF 2006-06-09
SC is a private limited company registered under incorporation file no.
706922 on 6-3-2000.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 6-3-2006) Number
of shares held
K. Girdharlal Diamonds (India) Pvt. Ltd. 249,999
Diamantina S.A. 45,000
Ajesh Dineshchandra Shah 1
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Ordinary Shares 295,000
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K. Girdharlal 1,450,000
Diamantina S.A.
255,000
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Deferred Shares 1,705,000
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Directors (as at 6-3-2006)
Shah Vinodkumar Gautamlal / V608023
Shah Ajesh Dineshchandra / Z0004235
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
Total number of employees : 6.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,000 square feet at a commercial
building in a commercial & shopping 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) : None filed since
its incorporation date.
SC is a subsidiary of K. Girdharlal Diamonds (India) Pvt. Ltd. whose
partial information is as follows:
Year established :
NA
Registered/business address :
1003, Panchratna, M.P. Marg, Opera House, Mumbai-400004, India
Business line :
As a holding co. with core interest in supply of jewellery
No. of employees :
NA
Civil litigation & winding-up petition records : None in our
database
Turnover :
NA
Shah Vinodkumar Gautamlal, director:
- He is by Indian nationality
- Embarked upon his career to present field in his 20's
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: 2, Bhaswan Building, 247 Walkeshwar
Road, Mumbai-400006, India.
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
Shah Ajesh Dineshchandra, director:
- He is by Indian nationality
- Embarked upon his career to present field in his 20's
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: Daseshwar Society, 118/120, Flat No.2,
Walkeshwar, Mumbai 400006, India.
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 : 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.
iness categories :
SC is engaged in trading & supply of diamond & jewellery.
Items available include polished diamond, rough diamond, rings, necklace
& others.
SC is also engaged in sourcing activities for its group based in India.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
PR China, SE Asia & India
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Manufacturers, wholesalers & retailers
Selling terms :
COD & credit of 14-30 days
Overseas--buying countries :
PR China, India, SE Asia (mainly Singapore, Indonesia & Malaysia)
Selling terms :
L/C, T/T & intercompany account basis
SC is not known to have
any subsidiary at present.
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 : SC did not provide
any name of trade/service suppliers and we have no other sources to conduct the
enquiry at present.
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: HSBC.
During our report
preparation, the principals could not be contacted while the staff members hesitated
to release financial information without the principals' consent.
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 6-3-2006, was NA.
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.
-- 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 |
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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%)