MIRA INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ASHAPURA IMPEX |
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Registered Office : |
Flat F, 14/F., |
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Country : |
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Date of Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
34127244-000-12 |
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Legal Form : |
Partnership. |
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Line of Business : |
Wholesaler and Exporter of all kinds of
Diamonds and Gem Stones. |
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
ASHAPURA IMPEX
ADDRESS
Flat F, 14/F.,
Phone: Not
Available
Fax: Not
Available
(Formerly located at:
Flat F, 5/F.,
MANAGEMENT
Manager:
Mr. Rakesh Jayantilal Shah
SUMMARY
Establishment: 9th
December, 2003.
Organization: Partnership.
Capital:
Not disclosed.
Business Category: Gem Stone Wholesaler and Exporter.
Employee:
1.
Main Dealing Banker: Indian Overseas Bank,
Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Flat F, 14/F.,
BUSINESS REGISTRATION NUMBER
34127244-000-12
MANAGEMENT
Manager:
Mr. Rakesh Jayantilal Shah
PARTNERS
Name: Rakesh Jayantilal SHAH
Residential Address: Shahiyar Kunj, 4/F., 401, 1-12-6 Misuji,
Taito-ku,
Name: Hetal Rakesh SHAH
Residential Address: Shahiyar Kunj, 4/F., 401, 1-12-6 Misuji, Taito-ku,
HISTORY
The subject was established
on 9th December, 2003 as a partnership concern owned by three Indian under the Hong
Kong Business Registration Regulations.
The following table shows
the changes of the partners:-
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Name |
Incoming Date |
Outgoing Date |
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Rakesh
Jayantilal Shah |
09-12-2003 |
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Himanshu
Jayantilal Shah |
09-12-2003 |
01-01-2004 |
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Amishkumar Chandulal
Shah |
09-12-2003 |
01-10-2007 |
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Hetal Rakesh
Shah |
01-10-2007 |
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Initially the subject was
located at Flat F, 5/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui,
Kowloon, Hong Kong, moved to the present address in June 2007.
Apart from these, neither
material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Wholesaler
and Exporter.
Lines:
All kinds of diamonds and gem stones.
Employee: 1.
Commodities Imported:
Markets:
Terms/Sales:
COD or
as per contracted.
Terms/Buying: L/C,
T/T, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit & Loss: Making a small profit every year.
Condition:
Business is fairly
active.
Facilities:
Making fairly active
use of general banking facilities.
Payment:
Met trade commitments
on time.
Commercial Morality: Satisfactory.
Banker:
Indian Overseas
Bank, Hong Kong Branch.
Standing:
Small.
GENERAL
Ashapura Impex is a
partnership concern jointly owned by Mr. Rakesh Jayantilal Shah and Mr. Hetal
Rakesh Shah. Being Indian, the two Shahs
seem to be the members of the Shah family.
The subject’s telephone
number and fax number have not registered with local telephone company nor
listed on telephone directories.
Business commenced in
December 2003, the subject is trading in loose diamonds, gem stones, precious
stones, semi-precious stones, sapphire, Tanzanite, etc. Raw materials are imported from
The subject’s Manager Rakesh
Jayantilal Shah has been residing in
In order to penetrate the
international market further, the subject has taken part in fairs and
exhibitions held in
The subject’s business is
chiefly handled by the Shah family who have closed business ties with the
jewellery firms in
The subject’s history in
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.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)