MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABEE IMPEX |
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Registered Office : |
RM 703, 7FL Taurus Bldg 21A-21B Granville Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.04.1991 |
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Com. Reg. No.: |
14399546-000 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading a wide range of Diamonds and Jewelry. |
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 |
name & address
ABEE
IMPEX
RM 703, 7FL TAURUS BLDG 21A-21B GRANVILLE RD
TSIMSHATSUI KOWLOON, HONG KONG.
TEL: 852-27238220 FAX: 852-27238330
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 16, 1991
REGISTRATION NO. :
14399546-000
LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE :
MR. BHARATKUMAR JAIRAMBHAI PATEL (PARTNER)
STAFF STRENGTH :
3
CAPITAL :
N/A
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 : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.78660 = 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
*Corporate & Organization Structure*
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Maintains an in-house design team.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: abeeimpex@hknet.com
For the past two years there is no record of litigation.
Based on corporate filing regulations for this type of entity in Hong
Kong, there is either, no requirement for Shareholders or no requirement for
public disclosure of Shareholders.
Management: Mr. Bharatkumar
Jairambhai Patel, Partner
Mr. Virendrakumar Jairambhai Patel, Partner
Name Nationality
Job Description
Mr. Bharatkumar Jairambhai Patel Indian
Partner
Mr. Virendrakumar Jairambhai Patel Indian
Partner
*Main Products & Services*
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Specializes in the following areas of work:
1. Trading a wide range of diamonds and jewelry.
2. Also provides diamond cutting and polishing services.
Every year the firm launches 1,000 design jewelry products.
Products: 14k gold jewelry
18k gold
jewelry
Bracelets
Diamond
cutting
Diamond jewelry
watches
*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)
*Exhibition Participation*
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Participated in the following local exhibitions:
(1)
Exhibition fair : Hong Kong
Int'l Jewellery Show
Dates attended : March 2007
(2)
Exhibition fair : Hong Kong
Jewellery & Watch Fair
Dates attended : September 2007
*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.
Products are exported to the following countries:
Country
% of Exports
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USA
70.00
Middle East, Europe and Southeast Asia 30.00
*International Exhibition Participation*
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Participated in the following international exhibitions:
(1)
Exhibition fair : Asia Expo
Euro Spain
Dates attended : February 2007
Country : Spain
(2)
Exhibition fair : Shenzen
Int'l Gold, Jewellery & Gem Fair
Dates attended : March 2007
Location : Shenzen
China
(3)
Exhibition fair : JCK Las
Vegas Show
Dates attended : June 2007
Location : Las Vegas
USA
(4)
Exhibition fair : Shenzen
Int'l Jewellery Fair
Dates attended : September 2007
Location : Shenzen
China
(5)
Exhibition fair : Jewelers
Int'l Showcase
Dates attended : October 2007
Location : Miami
USA
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains factory in Panyu China with an area of 3,000 square ft.
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 partnership 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 long history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Service 7631 Watch,
Clock & Jewelry Repair
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
Service 9900 Business
services, health, financial/insur. legal/real estate, hotels, and misc repairs
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7103 Precious
& semiprec stones, not strung etc
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113205000 Jewelry
of base metal clad with precious metal
Trading 9100 Clocks
& watches & parts thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Bracelets
Trader Jewelry rings
Trader Watches
Trader Diamond
jewelry watches
Trader Pendants
Trader Earrings
Trader 18k gold
jewelry
Trader Jewelry
Trader 14k gold
jewelry
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Europe
Exporting to Middle East
Exporting to North America
Exporting to USA
Importing from Asia
Importing from India
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%)