MIRA INFORM REPORT

 

 

 

Report Date :

20.08.2008

 

IDENTIFICATION DETAILS

 

Name :

ANKI IMPEX LIMITED

 

 

Registered Office :

Flat 5, 15/F, Lee Wai Commercial Building, 1-3 Hart Avenue, Tsim Sha Tsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

20.10.2003

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of Diamonds

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name of the company        

 

ANKI IMPEX LIMITED

 

Business Address

Flat 5, 15/F, Lee Wai Commercial Building
1-3 Hart Avenue
Tsim Sha Tsui
Kowloon
Hong Kong
Tel: +852-23662245
Fax: +852-23664245
Email: ankiimpexltd@hotmail.com

 

 

 

 

 

SUMMARY

 

 

Founded:

2003

Legal form:

Private Limited Company

Registration date:

20.10.2003

ACTIVITY:

Importer & Exporter

Main Products:

Diamonds

Staff:

3 (3 in Hong Kong)

Paid-up capital:

HKD 5,650,000.00

Financial situation:

Modest but ordered

Payments:

Payments are made according to terms

Litigation:

clear

 

 

 

Registration status: 2003 - Registered company
Activity status: 2003 - Active company

 

 

 

 

IDENTIFICATION

 

 

Name:

Anki Impex Limited

 

Telephone:

+852-23662245

 

Fax:

+852-23664245

 

Email:

ankiimpexltd@hotmail.com

 

Business Address:

Flat 5, 15/F, Lee Wai Commercial Building
1-3 Hart Avenue
Tsim Sha Tsui
Kowloon
Hong Kong
Tel: +852-23662245
Fax: +852-23664245
Email: ankiimpexltd@hotmail.com

 

 

Registered Address:

Flat 5, 15/F, Lee Wai Commercial Building
1-3 Hart Avenue
Tsim Sha Tsui
Kowloon
Hong Kong
[valid from 20.10.2007]

 

 

Former Principal Address:

Flat 3B, 11/F, Prat Mansion
26-36 Prat Avenue
Tsim Sha Tsui
Kowloon
Hong Kong
Tel: +852-23662245
Fax: +852-23664245
Email: ankiimpexltd@hotmail.com

 

 

 

 

 

 

HISTORY AND REGISTRATION

 

 

Founded:

2003

 

Legal form:

Private Limited Company

 

Registration date:

20.10.2003

 

Company registry number:

0867074

 

BR Number:

34001313

 

Annual return date:

20.10.2007

 

Annual return filed on:

08.01.2008

 

 

SHARE CAPITAL

 

 

Nominal capital:

 

HKD 10,000,000.00

Number of Ordinary shares:

10,000,000

 

Value per share of Ordinary shares:

HKD 1.00

 

 

Paid-up capital:

 

HKD 5,650,000.00

 

of which paid in cash:

HKD 5,650,000.00

 

 

 

 

SHAREHOLDERS

 

 

KUMAR Amit
Nationality: IN
V.P.O. Harmada Ajmer
Rajasthan
India

Shareholder
Equity: 100%
5,649,999 Ordinary shares

MODI Nilesh Kumar
Nationality: IN
Modi Mohalla, VPO Sarwar
Via Nasirabad, Dist. Ajmer
Rajasthan
India

Shareholder
Equity: 0%
1 Ordinary shares

Total number of shareholders: 2
Former shareholder and director records:

Jain, Anil Uttamchand 1 share transferred to Modi, Nilesh Kumer on 26th November 2004
Bordia, Pavan Kumar 1 share transferred to amit Kumar on 26th November 2004

 

 

 

MANAGEMENT

 

 

Dhun's Management Services Limited - Corporate Secretary
7/F., Man On Comm Building
12-13 Jubilee Street
Central
Hong Kong


KUMAR Amit - Director
Nationality: India
V.P.O. Harmada Ajmer
Rajasthan
India

Personal ID: R554295(1)
Passport ID: F2199560

Mr. Amit Kumar, Director
Mr. Kumar is active in subject's daily operations. He is responsible for the overall management.

Management assessment
Subject is a relatively small entity. There is no clear division of management functions and responsibilities. One or two key figures are responsible for overall management.

 

 

 

 

ACTIVITY

 

NATURE OF BUSINESS:

Importer & Exporter & Wholesaler

 

NACE:

4648 Wholesale of watches and jewellery

 

Main products:

Diamonds

 

 

 

Activity comment:

Subject is engaged in the import, export and wholesale of diamond. Products are sourced from India, United States and Norway. Most of subject's turnover are generated from exporting to India, while a minor part of business are wholesale and retail in Hong Kong.

Basic traffic of phone calls, deliveries of documents indicates that subject is performing adequate level of daily business activities with some functional divisions and business structures. Operations are observed to be properly organized with necessary number of staff.

 

 

 

MARKETS:


Local 1%
Payment terms:
COD (cash on delivery)

India 99%
Payment terms:
L/C (letter of credit)
T/T

 

 

 

PURCHASES:


India, Norway, United States 100%
Payment terms:
T/T
L/C (letter of credit)

 

 

PREMISES

 

Address:

Flat 5, 15/F, Lee Wai Commercial Building
1-3 Hart Avenue
Tsim Sha Tsui
Hong Kong

Type of premises:

office premises

Type of ownership:

Premises at business address are rented

Area:

Commercial

Condition:

reasonable

Equipment:

Properly equipped and maintained


Good transportation network in adjacent area. Reasonable office decoration observed. Captioned premises are equipped with basic office and other supportive facilities.

 

STAFF:

Total staff: 3

Staff in Hong Kong: 3

 

 

IMPORTANCE:

Small Company

 

                   

 

 

FINANCE

 

 

Financial situation:

Modest but ordered

 

Status of company:

Properly run

 

Business trends:

Stagnant

 

 

 

Direct interview:

Mr. Kumar, (declined to disclose his title)

 

 

 

Financial data source:

Declined to disclose financial information

 

 

Mr.Kumar declined to provide any financial information due company’s policy. Under Hong Kong Companies Law, private limited company needs not to release its financial information to public.

During the past investigation, subject's director, Mr. Amit Kumar revealed that he was planning to wind-up his company in 2006. However, subject is running accordingly till the submission of this report.

With respect to subject’s operation scale, size and compared with similar size companies in industry, estimated annual turnover is around HKD 20M.




 

 

Charges:                   

Date: 01.12.2006
Type: Others. Please see description
Against: Subject
In favour of: Bank of India
Description: Letter of set-off and appropriation HKD300,000.00 under account no. 037311
Amount: advances other banking facilities

Date: 21.12.2007
Type: Others. Please see description
Against: Subject
In favour of: Bank of India
Description: Letter of set-off and appropriation
USD385,000.00 under account no. 037311
Amount: advances other banking facilities

 

 

Bankers     

 

Bank of India
, Ruttonjee House, 11 Duddell St.,

The Hongkong and Shanghai Banking Corporation Limited
, Level 9, Hongkong Bank Bldg., 1 Queen's Road,

 

 

Payments:

Payments are made according to terms

 

 

 

Litigation records:

clear
on subject: clear

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/Preliminary/debt regulation proceeding.

 

 

 

Negative file check:

clear

 

 

 

Company comment:

Secure terms are recommended. Normal business is deemed carried out with limited resources for regular financial commitments. Capability to overcome financial difficulties is not demonstrated with concrete evidence. Business should be done on a secured basis with close monitoring.


 

 

 

 

INDUSTRIAL STATISTICS

Industry Feature

Industry Data of Hong Kong Jewellery Industry

Performance of Hong Kong's Jewellery Exports

Precious Jewellery (SITC 897.3)

2004

2005

Jan-Nov 2006

Value (HK$ Mn.)

Growth %

Value (HK$ Mn.)

Growth %

Value (HK$ Mn.)

Growth %

Domestic Exports

5,807

+9

6,509

+12

6,601

+10

Re-exports

14,927

+24

18,991

+27

19,968

+14

of Chinese Mainland Origin

12,753

+27

15,422

+21

15,781

+12

Total Exports

20,734

+19

25,500

+23

26,569

+13

 

Precious Jewellery by Market

2004

2005

Jan-Nov 2006

Share%

Growth%

Share%

Growth%

Share%

Growth%

USA

50.4

+10

50.1

+22

47.5

+7

EU

23.9

+36

22.9

+18

23.3

+15

United Kingdom

8.9

+51

7.4

+3

7.4

+11

Germany

4.9

+11

5.1

+27

4.2

-5

France

3.9

+36

4.4

+38

5.1

+30

Japan

6.4

+25

5.7

+10

4.9

*

Switzerland

4.1

+10

3.5

+5

4.7

+48

ASEAN

3.3

+11

4.3

+59

3.9

+2

Chinese Mainland

1.5

+53

2.2

+82

2.8

+46

Taiwan

2.1

-2

2.2

+27

2.0

+4

* Insignificant

*Sources: Hong Kong Trade Statistics, Census and Statistics Department

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Macro Economic Indicator - Hong Kong

(USD billions)

2003

2004

2005

2006

2007 (f)

2008 (f)

Economic growth (%)

3.2

8.6

7.5

6.9

5.6

5.3

Inflation (%)

-1.9

0.3

1.4

2.3

3.0

3.1

Public sector balance (%GDP)

-3.3

1.7

1.0

2.7

2.7

3.0

Exports

224.7

260.3

289.5

317.6

343.3

381.9

Imports

230.4

269.6

297.2

331.7

362.6

400.2

Trade balance

-5.8

-9.3

-7.6

-1.4

-2.0

-1.8

Current account balance

16.5

15.7

20.2

20.2

20.1

24.6

Current account balance (%GDP)

10.4%

9.5%

11.4%

10.6%

9.9%

11.1%

Foreign debt

37.8%

41.0%

40.7%

38.0%

36.3%

35.4%

Debt service (%Exports)

1.8%

2.1%

2.2%

2.3%

2.1%

2.0%

Currency reserves (import months)

4.8

4.2

3.7

3.4

3.2

3.0

(e)estimate (f)forecast

 

 

 



COUNTRY RATING (Hong Kong)

Rating : A1

The steady political and economic environment has positive effects on an
already good payment record of companies.Very weak default probability.

For further information of country rating and payment experience such as
Assets – weaknesses – risk outlook; Industries overview; Insolvency trend;
Means of payment and collection methods; and Non payment index,
please visit our group’s official homepage at www.cofacerating.com or go
directly to your interest at www.cofacerating.com/anglais/home/Country.html

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.72

UK Pound

1

Rs.81.45

Euro

1

Rs.64.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions