MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABEE IMPEX |
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Registered Office : |
Room 1225, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street,
Hunghom, 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.: |
14399546-000-04 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer and
Exporter of All kinds of Diamonds and Jewellery, Diamond Watches, 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
ABEE IMPEX
ADDRESS
Room 1225, 12/F., Block
B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2723 8220
FAX: 2723 8330
E-MAIL: info@abeeimpex.com
(Formerly located at: Room 703, 7/F.,
Taurus Building, 21 Granville Road, Tsimshatsui, Kowloon, Hong Kong.)
MANAGEMENT
Manager: Mr. Bharatkumar Jairambhai Patel
SUMMARY
Establishment: 16th April, 1991.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: US$15-20 million.
Employees: 6.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1225, 12/F.,
Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong
Kong.
BUSINESS REGISTRATION NUMBER
14399546-000-04
MANAGEMENT
Manager: Mr. Bharatkumar Jairambhai Patel
PARTNERS
Name: Mr. Bharatkumar Jairambhai PATEL
Residential
Address: Flat F, 5/F., Henley House, 68-80 Canton Road, Tsimshatsui, Kowloon,
Hong Kong.
Name: Mr. Virendrakumar J. PATEL
Residential Address: C/3 Trikamnagar-1, Lambe Hanuman Road,
Surai, India.
HISTORY
The subject was
established on 16th April, 1991 as a sole proprietorship concern owned by Mr.
Bharatkumar Jairambhai Patel under the Hong Kong Business Registration Regulations.
On 1st July, 1999,
Mr. Virendrakumar J. Patel joined in as a partner and the subject has become a
partnership since then.
Originally the
subject was registered under the name of Superb Diamond, name changed to the
present style on 11th April, 1996.
Initially the
subject was located at Flat F, 5/F., Henley House, 68-80 Canton Road,
Tsimshatsui, Kowloon, Hong Kong where is the residential address of Mr.
Bharatkumar Jairambhai Patel, moved to 14/F., Chun Fook Mansion,
1 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong in November 1994; to Flat
B, 4/F., Kimbry Court, 58-60 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in
May 1995; to Room 906, 9/F., Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui,
Kowloon, Hong Kong in March 1997; to Flat C, 8/F., 29-31 Chatham Road,
Tsimshatsui, Kowloon, Hong Kong in August 2000; to Room 703, 7/F., Taurus
Building, 21 Granville Road, Tsimshatsui, Kowloon, Hong Kong in December 2002;
and further moved to the present address in May 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 and jewellery, diamond watches, etc.
Employees: 6.
Commodities Imported: India, US, etc.
Markets: Taiwan, US, Germany, other European countries, etc.
Annual Turnover: US$15-20 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewelry
Manufacturers’ Association, Hong Kong.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Business is profitable.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Abee Impex is a
partnership jointly owned by Mr. Bharatkumar Jairambhai Patel and Mr.
Virendrakumar J. Patel, both of whom are Indian and belong to the same family.
The subject is a
manufacturer and wholesaler of single cut, full cut and taper diamonds. It offers a wide selection of diamonds and
assortment in various sizes. Raw
materials and products are imported from the United States and India. The subject has had a production base for
diamonds in India. Finished products
are exported to Taiwan, the United States, Germany, other European countries,
etc. Besides diamond and jewellery, the
subject also trades in gentlemen’s diamond watches, ladies’ diamond watch sets
and watches.
Besides, the
subject actively markets its products to major jewellery and watch
manufacturers from all over the world through major trade shows in Hong Kong
with its dynamic sales team. Fairs and
exhibitions participated in Hong Kong are such as Hong Kong International
Jewellery Show, Hong Kong Jewellery & Watch Fair and Hong Kong Watch
& Clock Fair.
Annual sales
turnover of the subject ranges from US$15 to 20 million. Business is rather active. Regular suppliers and clients have been
maintained.
The subject’s
history in Hong Kong is over 17 years.
On the whole,
consider the subject good for normal business engagements.
COURT CASES: None
per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.85 |
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UK Pound |
1 |
Rs.76.60 |
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Euro |
1 |
Rs.64.68 |
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%)