MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
M B IMPEX |
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Registered Office : |
Unit L1, 13/F., Kaiser Estate, Phase 2, |
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Country : |
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Date of Incorporation : |
16.10.1997 |
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Com. Reg. No.: |
21310844-000-10 |
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Legal Form : |
Partnership |
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Line of Business : |
Trader of Diamond |
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
M B
IMPEX
ADDRESS
Unit L1, 13/F., Kaiser Estate, Phase 2,
PHONE: 2994 8832
FAX: 2311 3443
E-MAIL: mbimpex@netvigator.com
[Formerly located at: 13/F., Fullcorp Centre (now known as Katherine House),
MANAGEMENT
Manager: Mr. Manishkumar Savjibhai Patel
SUMMARY
Establishment: 16th October, 1997.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$50-55 million.
Employees: 3.
Main Dealing Banker: Hang Seng Bank Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Unit L1, 13/F., Kaiser Estate, Phase 2,
BUSINESS REGISTRATION NUMBER
21310844-000-10
MANAGEMENT
Manager: Mr. Manishkumar Savjibhai Patel
PARTNERS
Name: Mr. Manishkumar Savjibhai PATEL
Residential Address: 7/F.,
Name: Mr. Nileshkumar Mohanbhai PATEL
Residential Address: Flat
E, 2/F.,
HISTORY
The subject was established on 16th October, 1997 as a sole proprietorship concern owned by Mr. Manishkumar Savjibhai Patel under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
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Name |
Incoming Date |
Outgoing Date |
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Manishkumar Savjibhai Patel |
16-10-1997 |
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Jayeshbhai
Mohanbhai Patel |
01-06-2001 |
31-03-2002 |
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Nileshkumar
Mohanbhai Patel |
05-01-2005 |
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Initially the subject was located at 7/F., Ocean View Court, 27A Chatham Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address of the partner, moved to Flat B, 10/F., Ocean View Court, 43 Mody Road, Tsimshatsui, Kowloon, Hong Kong in November 1997; to Flat F, 14/F., Block B, Hilton Towers, 96 Granville Road, Tsimshatsui East, Kowloon, Hong Kong in May 2002; to Room 502, 5/F., Lee Kar Building, 4‑4A Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in August 2002; to 13/F., Fullcorp Centre, 53-55 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong in June 2005. In December 2005, Fullcorp Centre was renamed to Katherine House. The subject was relocated at the present address in May 2007.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities:
Lines: Polished diamonds, jewellery, etc.
Employees: 3.
Commodities Imported:
Markets:
Annual Turnover: HK$50-55 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers Association,
Hong Kong Jewelry Manufacturers’ Association,
The Hong Kong General
Chamber of Commerce,
[Membership No. HKM0576]
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Hang
Seng Bank Ltd.,
Standing: Small.
GENERAL
M B Impex is a partnership concern jointly owned by Mr. Manishkumar Savjibhai Patel and Mr. Nileshkumar Mohanbhai Patel. The two Patels are Indian.
The subject was established in 1997, is one of the
prestigious establishments for polished diamonds in
The subject’s in-house design team creates over a thousand designs. The products include rings, earrings, pendants, bracelets and necklaces which are set in 18K gold and platinum with diamonds and gemstones. Also, the subject produces ODM products according to customers needs.
The subject actively participates in major international jewellery shows to explore the venturing market worldwide. For instance, the subject has taken part in the following fairs and shows:-
The
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JCK
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Iberjoya Int’l Jewellery Exhibition,
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Int’l Jewellery
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Spring Fair
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Vicenzaoro First,
· HK Int’l Jewellery Show
· HK Jewellery & Watch Fair
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· Mid-East Watch & Jewellery, Sharjah, UAE
· Abu Dhabi Int’l Jewellery & Watch Show, UAE
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Jewellery
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Int’l Jewellery
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The subject’s main markets are
Annual sales turnover of the subject ranges from HK$50 to 55 million. Business is rather profitable.
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.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)