MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
KARP IMPEX HK LIMITED |
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Registered Office : |
Unit 1-2, 10/F, Tower 2, Harbour Centre, 8 Hok Cheung St.,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19-2-2003 |
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Com. Reg. No.: |
833706 |
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Legal Form : |
Private Limited Co. |
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Line of Business : |
Engaged
in trading & wholesale 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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name & address
KARP IMPEX HK LTD.
UNIT 1-2, 10/F, TOWER 2, HARBOUR CENTRE,
8 HOK CHEUNG ST., HUNGHOM, KOWLOON, HONG KONG.
TEL: 852 27244330
FAX: 852 27216516
EXECUTIVE SUMMARY
INCORPORATION DATE : 19-2-2003
REGISTRATION NO. : 833706
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : VIRANI ANIKUMAR
BHIKHABHAI (DIRECTOR)
STAFF STRENGTH : 4 (SHARING WITH ITS AFFILIATE).
AUTHORIZED CAPITAL
: HKD10M = 10M SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 5,460,000
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 : MODERATE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : HKD 7.78030 = USD1 AS OF 2006-08-15
SC is a
private limited company registered under incorporation file no. 833706 on
19-2-2003.
SC's
shareholders & directors are shown to be as follows:
Shareholders
(as at 19-2-2006) Number of shares held
Karp
Impex Ltd. 5,459,999
Virani
Anilkumar Bhikhabhai
1
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5,460,000
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Directors
(as at 19-2-2006)
Virani
Anilkumar Bhikhabhai / Z1515786
Virani
Kishorkumar Bhikhalal / Z006659
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 20-3-2006:
Allottee(s) No.
of share(s)
Karp Impex Ltd. 1,950,000
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) : None filed within the last 2 years as per
our current search.
SC is a
subsidiary of Karp Impex Ltd. whose partial information is as follows:
Year
established : 1983
Registered/business
address : Shanta Bhuvan, 66
Kumudwadi, 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
Anilkumar Bhikhabhai, director:
- In his
mid 40's & married
- He is
by Indian nationality
- He is
also the managing director of procurement & sales in SC's group
Currently
residing in India & only visits Hong Kong for business occasionally.
Registered
residential address: Jal-Mayur Chs., 5/F, 51 Laxmi Vilas, 87 Nepean Sea Road,
Mumbai-400 006, 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
Virani
Kishorkumar Bhikhalal, director:
- In his
mid 40's & married
- He is
by Indian nationality
- He is
responsible for product development in SC's group
Currently
residing in India & only visits Hong Kong for business occasionally.
Registered
residential address: Same as Virani Anilkumar Bhikhabhai.
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 : 55 (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, marquise, ovals, pears, trilliants, princess &
tapens.
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (including its
parent, Karp Impex Ltd.), Thailand, S. Africa & Europe
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
Selling
terms :
Special agreed terms
Total number of employees : 4
(sharing with its affiliate).
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 &
residential district.
Condition inside the premises during our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
Jointly
occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company
name : Hini Star Ltd.
Year
established : 2003
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 : 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:
- Bank of
India
-
Antwerpse Diamant 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.
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 19-2-2006 was nil.
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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