MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
HINI STAR LTD. |
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Registered Office : |
Unit 01-02, 10/F., Tower 2, Harbour Centre, |
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Country : |
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Date of Incorporation : |
08.08. 2003 |
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Com. Reg. No.: |
33862215 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler 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 : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
HINI STAR LTD.
ADDRESS
Unit 01-02, 10/F., Tower 2, Harbour Centre,
PHONE: 2724 4330
FAX: 2721 6516
E-MAIL: hini@karpgroup.com
MANAGEMENT
Managing Director: Mr. Rameshkumar Bhikhabhai Virani
SUMMARY
Incorporated on: 8th August, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$78,000,000.00
Issued: HK$78,000,000.00
Business Category: Diamond Trader.
Employees: 7.
Main Dealing Banker: Industrial & Commercial Bank of
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Affiliated
Companies:-
Karp Group,
Karp Impex HK Ltd.,
Karp Jewellery Mfg. China Ltd.,
Karp Jewellery Mfg. HK Ltd.,
BUSINESS REGISTRATION NUMBER
33862215
COMPANY FILE NUMBER
856743
MANAGEMENT
Managing Director: Mr. Rameshkumar Bhikhabhai Virani
CAPITAL
Nominal Share Capital: HK$78,000,000.00 (Divided into 78,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$78,000,000.00
SHAREHOLDERS
(As per registry
dated 08-08-2008)
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Name |
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No. of shares |
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Rasila Ramesh VIRANI |
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65,550,000 |
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Rameshkumar
Bhikhabhai VIRANI |
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11,700,000 |
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Pankajkumar
Vitthalbhai KHUNT |
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450,000 |
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Karp Impex HK Ltd.,
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300,000 |
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––––––––– |
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Total: |
78,000,000 ======== |
DIRECTORS
(As per registry
dated 08-08-2008)
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Name (Nationality) |
Address |
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Rasila Ramesh VIRANI |
Unit 01-02, 10/F., Tower
2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong. |
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Rameshkumar
Bhikhabhai VIRANI |
Unit 01-02, 10/F.,
Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 08-08-2008)
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Name |
Address |
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RC Corporate Services Ltd. |
Room 2109, 21/F., |
467057 |
HISTORY
The subject was incorporated on 8th August, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject moved to the present address in December 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery.
Employees: 7.
Commodities Imported:
Markets: Europe,
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$78,000,000.00 (Divided into 78,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$78,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
Industrial & Commercial Bank of
ABN AMRO Bank N.V., Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
Having issued 78 million ordinary shares of HK$1.00 each, Hini Star Ltd. is chiefly owned by Mr. Rasila Ramesh Virani who is holding 84.0% of the subject’s interest.
The subject is a member of the Karp Group which is an Indian
Group in
The subject is an importer, exporter and wholesaler of fancy cut diamonds and round diamonds.
With well-established offices in worldwide, the subject offers clients with the full spectrum of fancy cut diamonds including taper, baguette, marquise, pear, oval, princess, heart, trillion, round pointer, and brilliant cut diamonds from 0.01 to 10 carat, also “Hearts & Arrows” ideal cut with GIA/HRD/IGI certificate.
The subject has been named the No. 1 diamond importer in
Southeast Asia by the Gem and Jewellery Export Promotion Council in
The Karp Group is owned by the Maldar family and was formed
in the early 60’s in
Mr. Rameshkumar Bhikhabhai Virani is one of the key members of the Karp Group.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities such as Las Vegas of the United States, Basel of Switzerland, Hyderabad of India, Macau, Shenzhen of China, etc.
The annual sales turnover of the subject is rather significant.
The subject is fully supported by the Karp Group.
On the whole, consider the subject good for normal business engagements.
REMARKS
Court Cases: None per our.
Property information of the company:-
Property Location: Workshop
Unit Nos. 01 & 02 on 10/F.,
Owner: Hini Star Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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01-09-2005 |
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The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
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07-09-2007 |
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- ditto - |
Deed of variation and further charge to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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01-09-2005 |
Instrument: Mortgage Property: 103/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit Nos. 01 & 02 on 10/F. of Harbour Centre Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., |
To secure the Secured Indebtedness |
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07-09-2007 |
Instrument: Deed of Variation and Further Charge Property: 103/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit Nos. 01 & 02 on 10/F. of Harbour Centre Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking Corp.
Ltd., |
To secure all moneys in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.49 |
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1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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%)