MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
VARNIRAJ EXPORTS LTD |
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Registered Office : |
8A, 8FL Hang Wan Bldg 42-44 Granville Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.05.2007 |
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Com. Reg. No.: |
1133613 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of jewelry products, mainly diamonds. Sales and Distribution of purchased products to local and export
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 : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
VARNIRAJ
EXPORTS LTD
8A, 8FL HANG WAN BLDG 42-44 GRANVILLE RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27232290 FAX: 852-27233290
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
17, 2007
REGISTRATION NO. :
1133613
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PARSHOTTAMBHAI NARANBHAI VIRANI (CHAIRMAN)
STAFF STRENGTH :
4
CAPITAL :
US$ 12,804
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 : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80634 = 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: Unit 8A Kam Chung Commercial Bldg 19-21
Hennessey Rd Wanchai Hong Kong
*Company Registration*
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(1)
License number : 1133613
Date issued : 17 May, 2007
Issuing authority : Companies Registry
Legal form : Private company with limited liability
Type of license : Corporate
(2)
License number : 37966566-000
Date issued : N/A
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
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Issued & paid-up capital : HKD 100,000.00 divided into 100,000
ordinary share at HKD 1.00/-each
*Office & Facilities*
================
Other email address : info@cbspacific.com
SC is not known to host website of its own at present.
E-mail: harryvirani@yahoo.co.in
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder
: 1
Total number of ordinary shares
: 100,000
Shareholder's Name No. of Shares Amount of Shares (HKD) % of Shares
---------------------------- ----------------
-----------------------------------
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Parshottambhai Naranbhai Virani 100,000 100,000.00 100.00
Share transfers :
Date
No. of Shares
Transferor(s) Transferee(s)
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----------------
------------------- -------------------
25 October, 2007
90,000 Harikrushna
Karsanbhai Virani Yogeshkumar
Govindbhai Virani
25 January, 2008
10,000 Yogeshkumar
Govindbhai Virani Parshottambhai
Naranbhai Virani
*COMPANY DIRECTORS*
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1
Name :
Mr. Parshottambhai Naranbhai Virani
Nationality : India
ID/Passport No. :
A7778268
Registered Address
: 65/66 Gopinath Society-2 BH
Mahadev Temple, Surat Katargam, Surat, Gujarat, 395004
Country of Residence : India
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing and local purchasing of jewelry products, mainly diamonds.
2. Sales and distribution of purchased products to local and export
markets.
Products: Diamonds
Jewelry
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
48
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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 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
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116201000 Jewelry
of precious or semiprecious stones
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Europe
Exporting to Italy
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. |
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UK Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
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%)