MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
PROFIT CROWN ENTERPRISES LTD |
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Registered Office : |
RM 1215, 12FL Fu Hang Industrial Bldg |
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Country : |
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Date of Incorporation : |
15.06. 1993 |
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Com. Reg. No.: |
0427263 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import of Jewelry and Related Products. Sales and Distribution of Imported Products to Local and Overseas
Markets. |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
name & address
PROFIT
CROWN ENTERPRISES LTD
RM 1215, 12FL FU HANG INDUSTRIAL BLDG
TEL: 852-23147585 FAX: 852-27237585
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 15, 1993
REGISTRATION NO. :
0427263
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HITESH R. JHAVERI (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 642,674
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79397= US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
Business / Branch Name (DBA): TNK GEMS
*Company Registration*
==================
(1)
License number : 0427263
Date issued : 15 June, 1993
Issuing authority : Companies Registry
Legal form : Private Limited Liability Company
Type of license : Corporate
(2)
License number : 18624066
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
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Share value :
HKD 1.00/-each
Initial registered capital : HKD 10,000.00 divided into 10,000 ordinary
shares
Capital increase :
HKD 5,000,000.00 divided into 5,000,000 ordinary shares, fully paid
*Office & Facilities*
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Previous Contact Details
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(1)
Address : 15Fl
Fax no : 23147585
(2)
Address :
*Corporate & Organization Structure*
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A small-company mainly operated and managed by an experienced team of
professionals.
*Approved Signatures*
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Only Mr. Kuntal Shah can sign on behalf of the company with seal
affixed.
*Registrar*
=========
PRIMAX CONSULTANTS LTD
SC is not known to host website of its own at present.
E-mail: TNKgems@netvigator.com
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Case Issue : A petition to the court claiming overdue payment for services
rendered (filed under case no. SCTC15258/2000)
Court : District Court,
Date Commenced : 23 May, 2000
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong TIMESHARE
DEVELOPMENT (CI) LTD
Case Issue : A petition to the court claiming overdue payment on rent
amounting to 15,522.00 (filed under case no. DCDT853/2003)
Court : District Court,
Date Commenced : 11 February, 2003
Status : Not stated
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 5,000,000
Shareholders Country
Number Amount (HKD) %
----------------- ---------- --------------- -------------------- ---------
Mr. Hitesh R. Jhaveri
Mr. Kuntal Shah
Management: Mr. Hitesh R. Jhaveri, General Manager
Name Nationality
Job Description
Mr. Hitesh R. Jhaveri Indian General Manager
*COMPANY DIRECTORS*
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1
Name :
Mr. Hitesh R. Jhaveri
Nationality :
ID/Passport No. :
B562556
Registered Address :
Country of Residence :
2
Name :
Mr. Kuntal Shah
Nationality :
ID/Passport No. :
B562556
Registered Address :
Country of Residence :
*Main Products & Services*
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Specializes in the following areas of work :
1. Import of wide range of jewelry and related products.
2. Sales and distribution of imported products to local and overseas
markets.
Products: Diamond jewelry
Gems
Gems jewelry
Gemstones
South sea
pearls
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C) at sight
Telegraphic Transfer
(T/T) - in advance
Purchases
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Import : Letter of Credit (L/C) at sight
Telegraphic Transfer
(T/T) - in advance
*Exhibition Participation*
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Exhibition fair : Hong Kong Int'l
Jewelry Manufacturers Exhibition
Date attended : 6-9 March, 2000
Location : Hongkong
Convention & Exhibition Centre
*Local Distribution Network*
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Approximately 99% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 1% of the annual turnover is attributed to exports.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 47
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts
depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a long history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3281 Cut stone and
stone products
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3926904000 Imitation
gemstones
Trading 7100 Pearls,
stones, prec. metals, imitation jewelry, coins
Trading 7101 Pearls,
natural or cultured, not strung or set etc
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7103991000 Gemstones,
cut but not set suitable for use in jewelry
Trading 7113190000 Jewelry
and parts thereof, of precious metal other than silver
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Importing from
Importing from
Importing from
Importing from
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 SCs 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%)