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MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
C. MAHENDRA EXPORTS (H.K.) LTD. |
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Registered Office : |
Unit 7 & 8, 8/F., Guardforce Centre, |
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Country : |
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Date of Incorporation : |
21.04.2004. |
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Com. Reg. No.: |
34487840 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of All kinds of Diamonds and Jewellery Products, Emerald, 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
C.
MAHENDRA EXPORTS (H.K.)
LTD.
ADDRESS
Unit 7 & 8, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2311 2011
FAX: 2721 0173
E-MAIL: hk@cmahendra.com.hk
MANAGEMENT
Managing Director: Mr. Prakash Kirtilal Mehta
SUMMARY
Incorporated on: 21st April, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$775,000.00
Issued: HK$775,000.00
Business Category: Diamond and Jewellery Trader.
Employees: 12.
Main Dealing Banker: Hang Seng Bank Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 7 & 8, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Holding Company:-
C.
Mahendra International Ltd.,
BUSINESS REGISTRATION NUMBER
34487840
COMPANY FILE NUMBER
896722
MANAGEMENT
Managing Director: Mr. Prakash Kirtilal Mehta
Contact Person: Mr. Raju Soni
CAPITAL
Nominal Share Capital: HK$775,000.00 (Divided into 775,000 shares of HK$1.00 each)
Issued Share Capital: HK$775,000.00
SHAREHOLDER
(As per registry dated 21-04-2008)
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Name |
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No. of shares |
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C. Mahendra International Ltd. A-5 & 6, |
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775,000 ====== |
DIRECTOR
(As per registry dated 21-04-2008)
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Name (Nationality) |
Address |
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Prakash Kirtilal MEHTA |
Flat 4, 41/F., Tower 2,
Harbourfront Landmark, 11 Wan Hoi Street, Hunghom, |
SECRETARY
(As per registry dated 21-04-2008)
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Name |
Address |
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K P Pang Consultants Ltd. |
Room 1610, 16/F., |
454111 |
HISTORY
The subject was incorporated on 21st April, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
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: 12.
Commodities
Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/A, etc.
MEMBERSHIP
The
Indian Chamber of Commerce Hong Kong,
FINANCIAL INFORMATION
Nominal Share Capital: HK$775,000.00 (Divided into 775,000 shares of HK$1.00 each)
Issued Share Capital: HK$775,000.00
Mortgage or Charge:-
Date of Mortgage: 30-03-2007
Amount: General banking facilities
Property: 48/534,325th parts or shares of and in Kowloon Inland Lot No. 11056 [Flat E on 21/F. of Tower 10, Villa Verde (Phase IIA) of Laguna Verde, 8 Laguna Verde Avenue, Kowloon, Hong Kong.]
Mortgagee: Hang Seng Bank Ltd.,
Profit & Loss: Making a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: Hang
Seng Bank Ltd.,
Standing:
GENERAL
C. Mahendra Exports (H.K.)
Ltd. is a wholly-owned subsidiary of C. Mahendra International Ltd. [C. Mahendra]
which is an India-based firm.
The subject is a diamond and
jewellery product trader. Raw materials
are imported from
C. Mahendra, a renowned and
trusted name since 1974, is one of the leading diamantaire and jewellery
company with a wide spread around the world.
In 2006, C. Mahendra
commissioned the second state of the art manufacturing factory at
To cut and polished diamonds
with ultimate brilliance, C. Mahendra has employed around 3,000 people in its
factory.
C. Mahendra has its main
head office in
Besides Hong Kong, C.
Mahendra has set up associates in 6 countries: Mainland
Today, C. Mahendra has had a
number of affiliated companies and has become a group collectively known as “CM
Group”.
The subject’s business is
chiefly handled by Mr. Prakash Kirtilal Mehta who is an
The subject is fully supported
by the CM Group.
The history of the subject
is just over four and a half years in
REMARKS
Court Cases: None per our.
Property information of the company:-
Property Location: Flat
E on 21/F. of Tower 10, Villa Verde (Phase IIA),
Laguna Verde,
Owner: C. Mahendra Exports (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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30-03-2007 |
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Hang Seng Bank Ltd., |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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%)