MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ASPIRE DESIGNS LTD. |
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Registered Office : |
2/F., |
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Country : |
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Date of Incorporation : |
20.07. 2001 |
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Com. Reg. No.: |
31979896 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Re-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 : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
name & address
ASPIRE DESIGNS
LTD.
ADDRESS
2/F.,
PHONE: 2815 1218
FAX: 2815
4505
E-MAIL: david@aspire.com.hk
MANAGEMENT
Managing Director: Mr. Dhaval Gunvant Shah
SUMMARY
Incorporated on: 20th July, 2001.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$495,000.00
Business Category: Jewellery Trader.
Employees: 8.
Main Dealing Banker: Industrial
& Commercial Bank of
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
2/F.,
BUSINESS REGISTRATION NUMBER
31979896
COMPANY FILE NUMBER
764229
MANAGEMENT
Managing Director: Mr. Dhaval Gunvant Shah
Director & Contact Person: Ms. Apsara Tansukh Sheth
CAPITAL
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$495,000.00
SHAREHOLDERS
(As per registry
dated 20-07-2008)
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Name |
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No. of shares |
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Dhaval Gunvant SHAH |
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165,000 |
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Apsara Tansukh SHETH |
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165,000 |
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Hemchand Gunvant SHAH |
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165,000 |
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––––––– |
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Total: |
495,000 ====== |
DIRECTORS
(As per registry
dated 20-07-2008)
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Name (Nationality) |
Address |
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Apsara Tansukh SHETH |
Flat A, 2/F., Block 2, Elegant Terrace, |
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Hemchand Gunvant SHAH |
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Dhaval Gunvant SHAH |
Flat A, 2/F., Block 2, Elegant Terrace, |
SECRETARY
(As per registry
dated 20-07-2008)
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Name |
Address |
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Chandler Partners Ltd. |
Room 1206-1207, 12/F., New Victory House, 93‑103 |
717996 |
HISTORY
The subject was incorporated on 20th July, 2001 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Wholesaler and Re-exporter.
Lines: All kinds of diamonds and jewellery.
Brand Name: Mvee.
Employees: 8.
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers Association,
FINANCIAL INFORMATION
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share Capital: HK$495,000.00
Indebtedness: HK$5,538,732.62 (Total amount outstanding on all mortgages and charges as per last Annual Return dated 20-07-2008)
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year
Condition: Keeping in a satisfactory manner
Facilities: Actively using general banking facilities
Payment: Met as required
Commercial Morality: Satisfactory
Bankers:-
Industrial & Commercial Bank of
Standard Chartered Bank (Hong Kong) Ltd.,
Standing:
GENERAL
Having issued 495,000 ordinary shares of HK$1.00 each, Aspire Designs Ltd. is equally owned by the Shah family, namely, Mr. Dhaval Gunvant Shah, Ms. Apsara Tansukh Sheth, and Mr. Hemchand Gunvant Shah.
The subject is a jewellery trader.
According to the subject, the Shah family has been engaged
in diamond manufacturing for 30 years in
The subject imports diamonds from
In order to penetrate the international market further, the
subject has taken part in fairs and exhibitions held in
The subject also makes customized jewellery with the latest trends and fashions. Main products are the following items: bracelets, brooches, earrings, necklaces, pendants, rings, etc.
The subject’s products bear the brandname “Mvee”.
The Shah family is rather rich in Hong Kong and
The history of the subject in
On the whole, consider the subject good for normal business engagements.
REMARKS
Court case record:-
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Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Mar. 2006 |
H627 |
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Aspire Designs Ltd. |
Landlords and Tenants (Possession) |
Not stated |
Property information of the company:-
Property Location: 2/F.,
Owner: Aspire Designs 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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22-07-2005 |
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Belgian Bank, Hong Kong Branch. [Business was taken over by Industrial
& Commercial Bank of |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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22-07-2005 |
Instrument: Mortgage Property: 15/150th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 6425 (2/F. of Tung Wui Commercial Building, 27 Prat Avenue, Kowloon, Hong Kong.) Mortgagee: Belgian
Bank, Hong Kong Branch. [Business
was taken over by Industrial & Commercial Bank of |
To secure all moneys in respect of general banking facilities |
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14-11-2006 |
Instrument: Charge Over Deposits – CD 1 (06) Property: 1) By fixed Charge: all the Company’s rights in respect of (i) Deposits of HK$1,500,000 deposited by the Company; and (ii) all other sums in any currency from time to time standing to the credit of the Company or the credit of any other person for the Company’s benefit whether alone or jointly with others, on any deposit account with the Bank or any other SCB Group Company including additions to or renewals or replacements of such sum; and all interest from time to time accruing or payable on the sums specified in (i) and (ii) above; 2) By assignment: all Deposits held with any SCB Group Company Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., |
To secure the payment or discharge of all moneys, obligations and liabilities, whether actual or contingent at the date of the Charge or at any time after the date thereof, due, owing or incurred by the Company to the Bank |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
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%)