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MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
VRAMS IMPEX (HK) LTD. |
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Registered Office : |
Room J2, 8/F., Kaiser Estate, Phase II, |
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Country : |
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Date of Incorporation : |
23.02. 2006. |
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Com. Reg. No.: |
36489608 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of Jewellery, Fancy Cut Diamonds, 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
VRAMS IMPEX
(HK) LTD.
ADDRESS
Room J2, 8/F., Kaiser Estate, Phase II,
[Your enquiry given as: VRAMS IMPEXC (HK) LTD of the same address.]
PHONE : 2311 4136, 2363 4123
FAX: 2366 1147, 2366 4123
E-MAIL : info@vramsimpex.com
MANAGEMENT
Managing Director: Mr. Vithal Dhanjibhai Vaghasia
SUMMARY
Incorporated on: 23rd February, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$200.00
Business Category: Diamond Trader.
Annual Turnover: US$8-10 million.
Employees: 6.
Main Dealing Banker: Wing
Lung Bank Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room J2, 8/F., Kaiser Estate, Phase II,
Associated
Companies:-
Baguette Diam Inc.,
G.
Vallbhabhai Dhanjibhai & Co.,
Vrams Diamonds L.L.C., UAE.
BUSINESS REGISTRATION NUMBER
36489608
COMPANY FILE NUMBER
1025968
MANAGEMENT
Managing Director: Mr. Vithal Dhanjibhai Vaghasia
Contact Person: Mr. Vithal Patel
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$200.00
SHAREHOLDERS
(As per registry
dated 23-02-2008)
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Name |
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No. of shares |
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Vithal Dhanjibhai VAGHASIA |
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100 |
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Ghanshyam Dhanjibhai VAGHASIA |
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100 |
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––– |
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Total: |
200 === |
DIRECTOR
(As per registry
dated 23-02-2008)
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Name (Nationality) |
Address |
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Vithal Dhanjibhai VAGHASIA |
Flat B, 13/F., |
SECRETARY
(As per registry
dated 23-02-2008)
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Name |
Address |
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City Light Accountancy Consultants Ltd. |
Room 1315, 13/F., Leighton Centre, |
330495 |
HISTORY
The subject was incorporated on 23rd February, 2006 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: Jewellery, fancy cut diamonds, etc.
Employees: 6.
Commodities Imported:
Markets:
Annual Turnover: US$8-10 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/A, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$200.00
Mortgage or Charge: (See attachment)
Profit & Loss: Business is rather profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
Wing Lung Bank Ltd.,
Bank of
Standing:
GENERAL
Having issued 200 ordinary shares of HK$1.00 each, Vrams
Impex (HK) Ltd. is equally owned by Mr. Vithal Dhanjibhai Vaghasia and Mr.
Ghanshyam Dhanjibhai Vaghasia. Both of whom
are Indian. The former is residing in
Hong Kong while the latter, in
The subject is specialized in manufacturing of fancy cut
diamonds. Raw materials are imported
from
Baguette Diam Inc.,
G.
Vallbhabhai Dhanjibhai & Co.,
Vrams Diamonds L.L.C.,
The above firms are responsible for marketing the subject’s products. The subject’s annual sales turnover ranges from US$8 to 10 million. Business has been improving.
The subject’s business is chiefly handled by Mr. Vithal Dhanjibhai Vaghasia.
Consider the subject good for normal business engagements.
REMARKS
Court Cases: None per our.
Property information of the company:-
1. Property
Location: Unit C on 13/F.,
Owner: Vrams Impex (HK) 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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15-08-2008 |
- |
Wing Lung Bank Ltd., |
Mortgage to secure general banking facilities |
2. Property Location: Workshop
Unit No. 1 on 9/F., Guardforce Cente,
Owner: Vrams Impex (HK) 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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18-01-2008 |
- |
Bank of |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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18-01-2008 |
Instrument: Mortgage Property: 5/718th parts or shares of and in Section E of Kowloon Marine
Lot No. 113 (Workshop Unit No. 1 on 9/F. of Guardforce Cente, Mortgagee: Bank of |
To secure all moneys in respect of general banking facilities |
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15-08-2008 |
Instrument: Mortgage Property: 65/2,674th parts or shares of and in Hung Hom Inland Lot Nos. 404, 355 & 342 (Unit C on 13/F. of Yun Fat Commercial Building, 70-74 Wuhu Street, Kowloon, Hong Kong.) Mortgagee: Wing Lung Bank Ltd., |
All moneys |
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%)