MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KARP IMPEX HK LTD. |
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Registered Office : |
Unit 1-2, 10/F,
Tower 2, Harbour Centre, 8 Hok Cheung St., Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.02.2003 |
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Com. Reg. No.: |
833706 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading & Wholesale of Diamond |
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 : |
No Complaints |
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Litigation : |
Clear |
name & addres of the company
KARP
IMPEX HK LTD.
UNIT 1-2, 10/F,
TOWER 2, HARBOUR CENTRE,
8 HOK CHEUNG ST., HUNGHOM, KOWLOON, HONG
KONG.
TEL: 852
27244330 FAX: 852 27216516
EXECUTIVE SUMMARY
INCORPORATION DATE :
19-2-2003
REGISTRATION NO. :
833706
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. VIRANI ANILKUMAR BHIKHABHAI (DIRECTOR)
STAFF STRENGTH :
6 (SHARING WITH ITS AFFILIATE)
AUTHORIZED CAPITAL :
HK $10M = 10M SHARES @ HK$1.-
PAID-UP
CAPITAL : HK
$5,460,000
BUSINESS LINE :
TRADING & WHOLESALE OF DIAMOND
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80365 = USD1
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
SC is a private limited company registered under incorporation file no.
833706 on 19-2-2003.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 19-2-2007) Number
of shares held
- Karp Impex Ltd. 5,459,999
- Virani Anilkumar Bhikhabhai 1
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5,460,000
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Director(s) (as at 19-2-2007)
- Virani Anilkumar Bhikhabhai / Z1515786
- Virani Kishorkumar Bhikhalal / Z006659
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Shares allotments on 20-3-2006:
Allottee(s) No.
of share(s)
Karp Impex Ltd. 1,950,000
Total number of employees: 6 (sharing with
its affiliate).
Location: Maintaining
its office at the heading business address which occupies a gross area of 1,500
square feet at a commercial building in a commercial & residential
district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
SC is a subsidiary of Karp Impex Ltd. whose partial information is as
follows:
Year established : 1983
Registered/business
address : Shanta Bhuvan, 66 Kumudwadi,
Bhavnagar-364002, Gujarat, India.
Business line : It is engaged in
import, export, process, polish, wholesale & distribution of diamond to
Europe, USA & worldwide.
No. of employees : 8,000
Civil litigation & winding-up petition: None in our database
Turnover :
NA
Virani Anilkumar Bhikhabhai, director:
- In his late 40's & married
- He is by Indian nationality
- He is also the managing director of procurement & sales in SC's
group
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: Jal-Mayur Chs., 5/F, 51 Laxmi Vilas, 87
Nepean Sea Road, Mumbai-400 006, India.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Virani Kishorkumar Bhikhalal, director:
- In his late 40's & married
- He is by Indian nationality
- He is responsible for product development in SC's group
Currently residing in India & only visits Hong Kong for business
occasionally.
Registered residential address: Same as Virani Anilkumar Bhikhabhai.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2 Obtained scores : 70 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Ms. Wong, SC's accounting officer, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 19-2-2007 was nil.
Banking relations are maintained principally with:
- Bank of India
- Antwerpse Diamant Bank N.V.
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database), and
the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions: None in our database.
Mortgage/charge record(s): None filed since its incorporation date.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent payment
records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC was
placed to us for collection within the last 6 years.
Business categories:
SC is engaged in trading & wholesale of diamond.
Items available include marquise, ovals & pears.
Principal purchases:
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : India (including its parent,
Karp Impex Ltd.), Thailand, S. Africa & Europe
Buying
terms : L/C, T/T
& intercompany account basis
Principal market:
Local--type
of customers : Wholesalers, retailers
& dealers
Selling
terms : Special
agreed terms
Overseas--buying
countries : PR China
Selling
terms : Special
agreed terms
Jointly occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company name :
Hini Star Ltd.
Year established : 2003
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC is considered small-sized in its line with favorable background.
Credit in the range of moderate amount can be considered.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
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%)