MIRA
INFORM REPORT
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Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KIRAN EXPORTS (HONG KONG) LTD. |
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Registered Office : |
Unit 10-B, 11/F, Hunghom Commercial Centre,Tower A, 39 Ma
Tau Wai Road, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12-11-2003 |
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Com. Reg. No.: |
870142 |
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Legal Form : |
Private |
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Line of Business : |
Engaged in trading of fine 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 : |
Usually correct |
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Litigation : |
Clear |
name & address
KIRAN EXPORTS (HONG KONG) LTD.
UNIT 10-B, 11/F, HUNGHOM COMMERCIAL CENTRE,TOWER A, 39 MA TAU WAI ROAD, HUNGHOM, KOWLOON, HONG KONG.
TEL : 852 23662488
FAX : 852 27398288
EXECUTIVE SUMMARY
INCORPORATION DATE :
12-11-2003
REGISTRATION NO. :
870142
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : GOPANI GAUTAM
BHIKHABHAI (DIRECTOR)
STAFF STRENGTH :
3.
AUTHORIZED CAPITAL : HK$500,000 = 50,000 SHARES @ HK$10.-
PAID-UP CAPITAL : HK$500,000
BUSINESS LINE :
TRADING OF FINE JEWELLERY
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 :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81275 = USD1 AS OF 2007-3-21
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. 870142 on 12-11-2003.
SC's shareholders & directors are shown to be as
follows:
Shareholders (as at 12-11-2006) Number
of shares held
Gopani Gautam Bhikhabhai 5,000
Kiranmani Diamonds Private Ltd. 30,000
Lakhani Varunkumar Babubhai 10,000
Lakhani Vimal Labhubhai 5,000
--------
50,000
=====
Directors (as at 12-11-2006)
Gopani Gautam Bhikhabhai / F0255361
Lakhani Varunkumar Babubhai / F3427377
The above registration information is based on SC's annual
return filed at Companies Registry within the last 2 years.
Our current search revealed certain material change or
amendment of SC has been recorded within the last 2 years & noted as
follows:
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Dhavle Nitin Manohar 28-6-2005
Name(s) of newly appointed
director(s) Appointment
date
Lakhani Varunkumar Babubhai 28-6-2005
Total number of employees : 3.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,000 square feet at a commercial
building in an industrial 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 Kiranmani Diamonds Private Ltd. whose
partial information is as follows:
Year established : NA
Registered/business
address : 109, Prasad Chambers, Opera
House, Charni Road, Mumbai-400 004, India.
Business
line : As a holding
co. with core interests in manufacturing & export of diamond jewellery.
No. of employees : 400
Civil litigation & winding-up
petition records : None in our database
Turnover : NA
Gopani Gautam Bhikhabhai, director:
- He is by Indian nationality
- Embarked upon his career to present field in his early
20's
Currently active in SC's day-to-day operations & is
responsible for its management.
Registered residential address: Unit H, 22/F, Tower 5,
Laguna Verde, Hung Hom, Kowloon, HK.
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
Lakhani Varunkumar Babubhai, director & vice president:
- In his mid 30's
- He is by Indian nationality
- Also currently director of Kiran Exports (SC's affiliate,
based in India)
Currently active in SC's day-to-day operations & is
responsible for its management.
Registered residential address: 401, Rajparshar Apts.,
Indranarayan Road, Opp. Lokhandwala Office, Santacruz (W), Mumbai, 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.
Business categories :
SC is engaged in trading of fine jewellery.
Items available include polished diamond with different
shapes (such as round & tapered shapes), Loose diamond, diamond jewellery
& other related products.
Principal purchases :
Major types of sourcing :
Diamond & fine jewellery
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India, United Arab Emirates, Belgium, Thailand & USA
Buying terms :
L/C, T/T & intercompany account basis
Principal market :
Local--type of customers :
Jewellery manufacturers, retail traders, chain stores & independent stores
Selling terms :
COD & special agreed terms
Overseas--buying countries :
PR China
Selling terms :
T/T, L/C & special agreed terms
SC's overseas affiliates:
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- Kiran Exports B.V.B.A
(in Belgium)
- Kiran Exports (Thailand) Co. Ltd. (in Bangkok, Thailand)
- Kiran Jewels Inc.
(in New York, USA)
- Kiran Exports (in India)
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: HSBC.
Upon a current contact, Lakhani Varunkumar Babubhai, SC's
director & vice president, 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.
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 12-11-2006 was nil.
SC is considered small-sized in its line locally with
acceptable base to meet its normal dealings.
Credit up to moderate amount may 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.
END
OF THIS REPORT
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%)