MIRA
INFORM REPORT
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Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PROFIT CROWN ENTERPRISES LTD |
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Registered Office : |
15FL Cameron Plaza Block F 23-25a Cameron Rd, Tsimshatsui Kowloon, |
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Country : |
Hong Kong |
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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 : |
Importing of a jewelry and related products. Sales and distribution of imported products to local and overseas
markets |
RATING &
COMMENTS
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MIRA’s 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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
PROFIT CROWN ENTERPRISES LTD
15FL CAMERON PLAZA BLOCK F 23-25A CAMERON RD, TSIMSHATSUI KOWLOON, HONG
KONG.
TEL: 852-90110727
FAX: 852-23147585
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 15, 1993
REGISTRATION NO. :
0427263
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HITESH R. JHAVERI (GENERAL MANAGER)
STAFF STRENGTH :
3
CAPITAL :
US$ 641,849
BUSINESS LINE :
IMPORTER
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 7.80099 = 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 –Hong Kong
Dollars
Registered Legal Address: Rm 1215, 12Fl Fu Hang Industrial Bldg 1 Hok
Yuen St East Hunghom Kowloon
*Company Registration*
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License number : 0427263
Date issued :
15 June, 1993
Issuing authority : Companies Registry
Legal form : Private Limited Liability Company
Type of license : Corporate
License number : 18624066
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Corporate & Organization Structure*
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A small-company mainly operated and managed by an experienced team of
professionals.
*Capital Details*
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Initial registered capital : HKD
10,000.00 divided into 10,000 ordinary shares at HKD 1.00/-each, fully paid
Capital increase :
HKD 5,000,000.00 divided into 5,000,000 ordinary shares at HKD 1.00/-each,
fully paid
*Approved Signatures*
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Only Mr. Kuntal Shah can sign on behalf of the company with seal
affixed.
SC is not known to host website of its own at present.
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong CITY TELECOM
(HK) LTD
Case Issue : A petition to the court claiming overdue payment for
services rendered (filed under case no. SCTC15258/2000)
Court : District Court, Hong Kong
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, Hong Kong
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 %
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Mr. Hitesh R. Jhaveri 50.00
Mr. Kuntal Shah 50.00
Management: Mr. Hitesh R. Jhaveri, General Manager
Name Nationality
Job Description
Mr. Hitesh R. Jhaveri Indian General Manager
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of a 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.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : PROFIT CROWN ENTERPRISES LTD - KOWLOON
Branch Address : 2Fl Garden Mansion - Block B 154 Austin Rd Tsimshatsui,
Kowloon,
Branch Fax : [+852] 27237585
PAYMENT RATING : 4 OBTAINED SCORES : 47
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Rating Key |
Implication |
Implications |
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1 |
Scores 85–100 |
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 15 years development history.
Taking into consideration of SC’s general performance,
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3281
Cut stone and stone products
Importing 3911
Jewelry, of precious metal
Importing 3961
Jewelry of materials other than solid
gold, platinum & silver
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3926904000
Imitation gemstones
Importing 7100
Pearls, stones, prec.
metals, imitation jewelry, coins
Importing 7101
Pearls, natural or
cultured, not strung or set etc
Importing 7102
Diamonds, worked or not,
not mounted or set
Importing 7103991000
Gemstones, cut but not set suitable
for use in jewelry
Importing 7113190000
Jewelry and parts thereof, of
precious metal other than silver
Importing 7116
Articles of natural or cut
pearls, prec/semprc stones
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
Importing from India
Importing from
Israel
Importing from
Middle East
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%)