MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
PRESTO TRADE |
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Registered Office : |
Room 1504, 15/F., Tung Shun Hing Commercial Centre, |
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Country : |
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Date of Incorporation : |
01.06.1991 |
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Com. Reg. No.: |
14592962-000-06 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer and Exporter of Diamonds, Jewellery, Precious Stones, etc. |
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
PRESTO TRADE
ADDRESS
Room 1504, 15/F.,
Tung Shun Hing Commercial Centre,
PHONE: 2311 5480
FAX: 2721 4630
E-MAIL: presto@hknet.com
MANAGEMENT
Manager: Mr. Praveen Raghunath Lodha
SUMMARY
Establishment: 1st June, 1991.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Jewellery Trader.
Employees: 2.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head Office:
Room 1504, 15/F.,
Tung Shun Hing Commercial Centre,
Affiliated Company:-
Presto Trade Ltd.,
BUSINESS REGISTRATION NUMBER
14592962-000-06
MANAGEMENT
Manager: Mr. Praveen Raghunath Lodha
PARTNERS
Name: Praveen Raghunath Lodha
Residential
Address: 164/72 Soi Puttha Osot, New Road, Bangrak,
Name: Varshit Jain
Residential
Address :Flat A, 9/F., Kok Pah Mansion,
HISTORY
The
subject was established on 1st June, 1991 as a sole proprietorship concern
owned by Mr. Praveen Raghunath Lodha under the Hong Kong Business Registration
Regulations.
The
following table shows the changes of the subject’s partners:-
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Name |
Incoming Date |
Outgoing Date |
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Praveen Raghunath Lodha |
01-06-1991 |
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Vivek Sacheti |
01-08-1992 |
28-02-2003 |
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Dharmendra Mutha |
01-03-2003 |
31-08-2005 |
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Varshit Jain |
15-08-2005 |
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Initially
the subject was located at Flat K, 9/F., Far East Mansion, 5-6 Middle Road,
Tsimshatsui, Kowloon, Hong Kong, moved to Flat 04A, 9/F., Lee Wai Commercial Building,
1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in January 1997; to Flat B4,
12/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in
January 1999; to Flat B, 13/F., Kok Pah Mansion, 58-60 Cameron Road,
Tsimshatsui, Kowloon, Hong Kong in October 1999; and further moved to the
present address in November 2005.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Diamonds, jewellery, precious stones, etc.
Employees: 2.
Commodities Imported:
Markets:
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 every year.
Condition: Keeping in an active state.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
GENERAL
Presto
Trade is a partnership concern jointly owned by Mr. Praveen Raghunath Lodha and
Mr. Varshit Jain. Both of the partners
are Indian while the latter joined in the subject on 15th August, 2005.
The
subject is trading in all kinds of diamonds, jewellery, precious stones,
etc. Raw materials are imported from
Mr.
Lodha had lived in
The
subject’s business is chiefly handled by the two partners.
As
the history of the subject in
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%)