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MIRA
INFORM REPORT
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Report Date : |
06.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
WONG TAI (H.K.) CO. |
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Registered Office : |
Unit 904, 9/F., Guardforce Centre, 3 Hok Yuen Street East,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.02.1997 |
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Com. Reg. No.: |
20675465-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds 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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
WONG TAI
(H.K.) CO.
ADDRESS
Unit 904, 9/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2376 0641
FAX: 2376 0361
E-MAIL: infini@biznetvigator.com
[Your enquiry given as: WONG TAI (HK) LTD. of the same address.]
MANAGEMENT
Manager: Mr. Akshit Kirankumar Vasani
SUMMARY
Establishment: 14th February, 1997.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: 4. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Unit 904, 9/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Affiliated
Companies:- (Same address)
4C Diamonds Manufacturing Co., Hong Kong.
Gilberto Jewelry Ltd., Hong Kong.
Infinity Diamonds Manufacturing Ltd., Hong Kong.
BUSINESS REGISTRATION NUMBER
20675465-000-02
MANAGEMENT
Manager: Mr. Akshit Kirankumar Vasani
SOLE PROPRIETOR
Name: Mr. Akshit Kirankumar VASANI
Residential Address: Bo
Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 14th February, 1997 as a sole proprietorship concern owned by Mr. Jignesh Navinchandra Sanghavi under the Hong Kong Business Registration Regulations.
It became a partnership when Mr. Akshit Kirankumar Vasani joined in as a partner on 1st August, 2003. However, it changed to a sole proprietorship again as Mr. Jignesh Navinchandra Sanghavi retired on 1st October 2003.
Initially the subject was located at 13/F., Tung Shun Hing Commercial Centre, 20-22A Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1301, 13/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in September 1998; and further moved to the present address in October 2005.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery.
Employees: 4. (Including affiliates)
Commodities Imported: India, Belgium, etc.
Markets: Asian countries, Thailand, Middle East, US, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, D/P, T/T, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in a fairly active manner.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Wong Tai (HK) Co. is a sole proprietorship operated by Mr. Akshit Kirankumar Vasani who is an Indian.
Mr. Vasani is an India passport and does not have the right to reside in Hong Kong permanently.
Business commenced in February 1997, the subject is a diamond trader. It has got three affiliated companies located at its operating office, namely, 4C Diamonds Manufacturing Co., Infinity Diamonds Manufacturing Ltd. and Gilberto Jewelry Ltd. All firms are jewellery traders.
The subject is trading in loose diamonds, single cut diamonds, tapper cut diamonds, full cut diamonds, etc.
Raw materials are imported from India, Belgium and other European countries, etc. Some of the raw diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are exported or re‑exported to the other Asian countries, Europe, the Middle East, the United States, etc. Business is fair.
All the affiliated companies are operated by Mr. Jayesh B. Patel and his family members who are also Indian. Infinity Diamonds Manufacturing Ltd. was incorporated on 27th March, 2003 while Giberto Jewelry Ltd. was incorporated on 23rd August, 2002.
The subject’s business is chiefly handled by Mr. Akshit Kirankumar Vasani himself.
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.49.22 |
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UK Pound |
1 |
Rs.75.03 |
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Euro |
1 |
Rs.63.14 |
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%)