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MIRA
INFORM REPORT
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Report Date : |
3rd
January, 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,, Hong Kong |
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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
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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
========
K. Girdharlal 1,450,000
Diamantina S.A.
255,000
---------
Deferred Shares 1,705,000
=========
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.
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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.
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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.
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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
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SC is
not known to have any subsidiary at present.
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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.
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Banking relations are maintained principally with:
HSBC.
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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.
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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 |