MIRA
INFORM REPORT
|
Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
ROYAL ENTERPRISES |
|
|
|
|
Registered Office : |
Room 701-702, 7/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.04.1978 |
|
|
|
|
Com. Reg. No.: |
5566326-000-04 |
|
|
|
|
Legal Form : |
Partnership. |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Name
ROYAL
ENTERPRISES
ADDRESS
Room
701-702, 7/F.,
PHONE: 2521 2443
FAX: 2845 2706
E-MAIL: sarhkg@netvigator.com
MANAGEMENT
Manager: Mr. Mohan Tikamdas Sadhwani
SUMMARY
Establishment: 1st April, 1978.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond and Jewellery Trader.
Employees: 4.
Main
Dealing Banker:The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room
701-702, 7/F.,
BUSINESS REGISTRATION NUMBER
5566326-000-04
MANAGEMENT
Manager: Mr. Mohan Tikamdas Sadhwani
PARTNERS
Name: Mohan Tikamdas SADHWANI
Residential
Address: Flat 12E, Scenic Villa,
Name: Rajesh Mohandas SADHWANI
Residential
Address: Flat 14N, Scenic Villa,
Name: Navin Mohandas SADHWANI
Residential
Address: Flat A, 36/F., Tower 7,
Residence Bel-Air, Phase 2, Cyberport,
HISTORY
The subject was established on 1st April, 1978 as a sole proprietorship concern owned by Kamla Gobind Harilela under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Kamla Gobind Harilela |
01-04-1978 |
15-10-1993 |
|
Thawerdas Tikamdas Sadhwani |
22-12-1978 |
06-03-2006 |
|
Mohan Tikamdas Sadhwani |
15-10-1982 |
|
|
Rajesh Mohandas Sadhwani |
15-10-1987 |
|
|
Gulab Dayaram Sadhwani |
01-12-1988 |
27-01-1995 |
|
Sunil Sadhwani |
15-10-1993 |
15-03-1994 |
|
Prakash Suresh Sadhwani |
27-01-1995 |
06-03-2006 |
|
Navin Mohandas Sadhwani |
03-09-2007 |
|
Originally the subject was registered under the name of Indo Gem Distributors, name changed to the present style on 14th April 1981.
Initially the subject was located at 1/F., Kowloon Centre, 29-43 Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat E, 12/F., Ho Lee Commercial Building, 38-44 D’Aguilar Street, Central, Hong Kong in November 1979; and further to the present address in July 2002.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 4.
Commodities
Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in a normal state.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing: Small.
GENERAL
Royal Enterprises is a partnership owned by the Sadhwani family. It was firstly founded by Kamla Gobind Harilela who retired on 15th October, 1993.
Business
commenced in April 1978, the subject is a diamond and jewellery product
trader. Raw materials are imported from
As
the history of the subject in Hong Kong is over thirty years in
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.52 |
|
|
1 |
Rs.75.54 |
|
Euro |
1 |
Rs.63.12 |
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%)