MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
COSMOPOLITAN GEMS |
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Registered Office : |
Room 1601, 16/F., |
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Country : |
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Date of Incorporation : |
01.07.1996. |
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Com. Reg. No.: |
20027177-000-07 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds, Precious Stones, Semi-Precious Stones, etc. |
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 : |
Regular |
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Litigation : |
Clear |
name of the company
COSMOPOLITAN GEMS
ADDRESS
Room 1601, 16/F.,
Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2366 9651
MANAGEMENT
Manager: Ms. Raj Shree Parwal
SUMMARY
Establishment: 1st July, 1996.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Head Office:-
Room 1601, 16/F.,
Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
20027177-000-07
MANAGEMENT
Manager: Ms. Raj Shree Parwal
SOLE PROPRIETOR
Name: Ms. Raj Shree PARWAL
Residential
Address: Flat 1, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon,
Hong Kong.
HISTORY
The
subject was established on 1st July, 1996 as a sole proprietorship concern
owned by Ms. Raj Shree Parwal under the Hong Kong Business Registration
Regulations.
Formerly,
the subject was located at Flat E, 16/F., Star Mansion, 3-5 Minden Row,
Tsimshatsui, Kowloon, Hong Kong, moved to Flat A (renamed Flat 1 or Room 1601)
of the same floor and same building in June 2008.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds, precious stones, semi-precious stones, etc.
Employees: Nil.
Commodities Importe : India, Belgium, Israel, etc.
Markets:
Terms/Sales : L/C or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Made small profits in the past years.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
GENERAL
Cosmopolitan
Gems is a sole proprietorship set up and owned by Ms. Raj Shree Parwal who is
an Indian residing in Hong Kong for a very long time. She is a Hong Kong ID Card holder.
The
subject’s registered and operating address is located at Flat 1, 16/F., Star
Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong which is in a
residential building. The subject’s
registered address is also the residential address of the sole proprietor.
The
subject is a diamond, precious, semi-precious stone and jewellery product
trader. Raw materials are imported from
India, Belgium and other European countries, etc. The raw diamonds and precious stones are polished
or processed in Hong Kong. Finished
products and polished diamonds are exported to Japan, India and other Asian
countries. Business is fairly active.
The
subject’s business is chiefly handled by Ms. Parwal herself. The subject has had no other employees.
Over
the past years, the subject managed to keep a balance account or just made very
small profits.
The
subject’s history in Hong Kong is over twelve years.
Since
the subject is a small diamond trading company, consider it good for normal
business engagements on L/C basis.
COURT CASES: None per our records.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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UK Pound |
1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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%)