MIRA INFORM REPORT

 

 

 

Report Date :

07.07.2008

 

IDENTIFICATION DETAILS

 

Name :

BHANSALI & CO (HK) LTD

 

 

Registered Office :

Unit 1001 Trans Hong Kong Commercial Bldg 41-43 Carnation Rd Tsimshatsui Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

18.02.2004

 

 

Com. Reg. No.:

883054

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import and local purchase of a wide range of jewelry.

Sales and distribution of purchased products to domestic and international markets.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

name & address

 

BHANSALI & CO (HK) LTD

 UNIT 1001 TRANS HONG KONG COMMERCIAL BLDG

41-43 CARNATION RD TSIMSHATSUI KOWLOON, HONG KONG.

TEL: 852-61926424   FAX: 852-35202674

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE            : FEBRUARY 18, 2004

REGISTRATION NO.                  : 883054

LEGAL FORM                           : PRIVATE

CHIEF EXECUTIVE                    : MR. PRAKASH K. BHANSALI (CHAIRMAN)

STAFF STRENGTH                    : 7

CAPITAL                                   : US$ 1,280

BUSINESS LINE                        : TRADER

TURNOVER                              : N/A (AS OF DEC. 31, 2006)

EQUITIES                                 : N/A (AS OF DEC. 31, 2006)

PAYMENT                                : AVERAGE

MARKET CONDITION                : AVERAGE

FINANCIAL CONDITION             : N/A

OPERATIONAL TREND  : FAIRLY STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : HKD 7.79583 = 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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rounded Rectangle: HISTORY 

 

 

 


*Company Registration*

==================

(1)

License number              : 883054

Date issued                    : 18 February, 2004

Issuing authority             : Companies Registry

Type of license              : Corporate

 

(2)

License number             : 34327442-000

Issuing authority            : Inland Revenue Department

Type of license              : Business

 

*Capital Details*

=============

Authorized capital : HKD 10,000.00 divided into 10,000 ordinary shares at HKD 1.00/-each, fully paid

 

*Approved Signatures*

=================

Only TAXBASE CONSULTANTS LTD can sign on behalf of the company with seal affixed.

 

*Registrar*

=========

SIMON CHONG & CO 

 

Rounded Rectangle: WEB SITE 

 

 

 


www.bhansali.biz The web belongs to BHANSALI & CO. The design is professional and the content is well organized. At present it is in English version.

 

E-mail: hongkong@bhansali.biz

 

 

Rounded Rectangle: LITIGATION 

 

 


For the past two years there is no record of litigation.

 

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 

 


*Major Shareholders*

=================

Total number of shareholders: 2

Total number of shares: 10,000

 

 

 

 

Shareholders                             Country             Number             Amount (HKD)               %

BHANSALI & CO                       India                 9,900.00            9,900.00                        99.00 

Mr. Prakash K. Bhansali             India                 100.00              100.00                          1.00 

 

*Company Secretary*

================

TAXBASE CONSULTANTS LTD

License number  : 411324

Address               : Rm 615, 6Fl Hollywood Plaza 610 Nathan Rd Kowloon Hong Kong 

 

 

Rounded Rectangle: MANAGEMENT 

 

 


*COMPANY DIRECTORS*

=====================

1  

Name                            : Mr. Prakash K. Bhansali

Nationality                     : India

ID/Passport No.             : Z1592834

Registered Address        : 72 Kamal 69 Walkeshwar Rd, Mumbai (Bombay), Maharashtra, 400006

Country of Residence     : India

 

 

2  

Name                            : Mr. Ritesh Nilesh Shah

Nationality                     : India

ID/Passport No.             : R287471(6)

Registered Address        : B-10/24 Khiranagar SV Rd, Santacruz West, Mumbai (Bombay), Maharashtra, 400054

Country of Residence     : India

 

 

Rounded Rectangle: BUSINESS OPERATIONS 

 

 


*Main Products & Services*

======================

Specializes in the following areas of work:

1. Import and local purchase of a wide range of jewelry.

2. Sales and distribution of purchased products to domestic and international markets.

 

Carries BEYOND brand.

 

Products: Cut diamonds 

               Diamond jewelry 

               Diamond set jewelry 

               Diamonds 

               Fine jewelry 

 

*Payment Terms*

==============

 

 

 

 

Sales

--------

Local   : Cash or credit

Export : Letter of Credit (L/C)

              Telegraphic Transfer (T/T)

 

Purchases

--------------

Local  : Cash or credit

Import : Letter of Credit (L/C)

              Telegraphic Transfer (T/T)

 

 

*Quality Certification*

=================

Type of certification : ISO 9001:2000

Issuing authority      : KPMG 

 

*Local Distribution Network*

=======================

50% of the annual turnover is attributed to local sales. 

 

*Export Markets*

==============

50% of the annual turnover is attributed to export. 

 

 

Rounded Rectangle: RELATED COMPANIES 

 

 


*(Subsidiaries, Joint-ventures & Affiliates) 

================================

Company Name : PRISM DIAMONDS INC

Address : 580 Fifth Ave New York 19917 New York USA

Country : USA

Relationship : Affiliate

Legal Form : Private company with limited liability

Company Type : Trader

Industry : Giftware & Jewellery

 

Company Name : PRISM ENTERPRISES PVT LTD

Address : Shah & Nahar Industrial Estate B309-311 (A-1) Mumbai (Bombay) 400013 Maharashtra India

Country : India

Relationship : Affiliate

Legal Form : Private company with limited liability

Company Type : Trader

Industry : Giftware & Jewellery

 

*OVERSEAS AGENTS AND DISTRIBUTORS* 

====================================

Agent : PRISM DIAMOND INC

Country of Origin : USA

 

Agent : ETERNAL COLLECTIONS

Country of Origin : USA

 

 

 

Rounded Rectangle: PAYMENTHISTORY 

 

 


PAYMENT RATING       : 3                OBTAINED SCORES         : 53

Rating Key

Implication

Implications

1

Scores 85–100

Excellent

2

Scores 75 – 84

Above Average

3

Scores 50 – 74

Average

4

Scores 35 – 49

Fair

5

Scores 15 – 34

Below Average

6

Scores 01 – 14

Poor

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.

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS 

 

 


As a private limited company there is no legal requirement according to local corporate law for public disclosure of detailed financials.

 

 

Rounded Rectangle: REMARKS 

 

 


SC is considered small-sized in its line with a short history.

 

 

 

 

 

Attached: trade references

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY 

Activity             Code    Product/Service Description

Trading              3911     Jewelry, of precious metal

Trading              3961     Jewelry of materials other than solid gold, platinum & silver

Trading              5094     Jewelry/Watches/Precious Mtl

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY 

Activity             Code                Product/Service Description

Trading              7102                 Diamonds, worked or not, not mounted or set

Trading              7103991000       Gemstones, cut but not set suitable for use in jewelry

Trading              7113                 Articles of jewelry & parts, of precious metal or clad

Trading              7113190000       Jewelry and parts thereof, of precious metal other than silver

Trading              7116201000       Jewelry of precious or semiprecious stones

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY 

Activity             Product/Service Description

Trader               Cut diamonds 

Trader               Fine jewelry 

Trader               Diamond set jewelry 

Trader               Pearl jewelry 

Trader               Jewelry 

Trader               Diamonds 

 

INTERNATIONAL TRADE: ACTIVITY & MARKETS

Exporting to Asia

Exporting to Europe

Importing from Asia

Importing from India

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.12

UK Pound

1

Rs.85.08

Euro

1

Rs.67.41

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions