MIRA
INFORM REPORT
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Report Date : |
01.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
H. D. IMPEX |
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Registered Office : |
Flat A, 7/F., Shun Fai Building, 64-66A Kimberley Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.05.2005 |
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Com. Reg. No.: |
35595080-000-05 |
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Legal Form : |
Partnership. |
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Line of Business : |
Importer, Exporter and Wholesaler of Diamonds and 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 of the company
H. D. IMPEX
ADDRESS
Flat A, 7/F., Shun Fai Building, 64-66A Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2317 6200
FAX: 2317 6600
MANAGEMENT
Manager: Mr. Hareshkumar Rhjmalbhai Shah
SUMMARY
Establishment: 6th May, 2005.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$10-12 million.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Flat A, 7/F., Shun Fai Building, 64-66A Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
35595080-000-05
MANAGEMENT
Manager: Mr. Hareshkumar Rhjmalbhai Shah
PARTNERS
Name: Mr. Hareshkumar Rhjmalbhai SHAH
Residential Address: Flat
D, 7/F., Luxury Court, 9 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Pritesh Nandkumar MISTRY
Residential Address: Flat
D, 7/F., Luxury Court, 9 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Dinesh Dhanjibhai Italiya
Residential Address: 6
Laxmi Darshan Building, Bajaj Road, Ville Parlew, Mumbai-400056, India.
HISTORY
The subject was established on 6th May, 2005 as a partnership concern jointly owned by Mr. Hareshkumar Rhjmalbhai Shah and Mr. Pritesh Nandkumar Mistry under the Hong Kong Business Registration Regulations. On 6th July, 2007, Mr. Dinesh Dhanjibhai Italiya joined in as a partner making up three in total.
At the very beginning, the subject was located at Flat D, 7/F., Luxury Court, 9 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong, moved to Room 11, 18/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in July 2007 and further moved to the present address in July 2008.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Diamonds and jewellery.
Employees: 2.
Commodities Imported: India, Belgium and other European countries.
Markets: Japan, Southeast Asia, Europe, Middle East, etc.
Annual Turnover: HK$10-12 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit in 2007.
Condition: Business is just fair.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
H. D. Impex is a partnership jointly owned by three Indian. All the partners are India passport holders and does not have the right to reside in Hong Kong permanently.
Business commenced in May 2005, the subject is a diamond importer, exporter and wholesaler. It is trading in loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, etc. Most of the raw materials and products are imported from India. Some of the raw diamonds are polished or processed in Hong Kong or China. Finished products and polished diamonds are exported or re-exported to Japan, other Asian countries, the Middle East, etc.
The annual sales turnover of the subject ranges from HK$10 to 12 million. Making a small profit every year.
On the whole, consider the subject good for small business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.63.48 |
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. |
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%)