MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HINKAR EXPORTS |
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Registered Office : |
Flat B, 9/F., Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.04. 2002. |
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Com. Reg. No.: |
32543098-000-04 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer,
Exporter and Wholesaler of All kinds of Diamonds, Ruby, Sapphire, and Other
Precious Stones. |
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
HINKAR EXPORTS
ADDRESS
Flat B, 9/F.,
Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui,
PHONE: Not available
FAX: 2367 1499
(Your enquiry given as: HINKARS EXPORTS of the same address. )
MANAGEMENT
Manager: Mr. Mukesh Kumar Parekh
SUMMARY
Establishment: 1st April, 2002.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat B, 9/F.,
Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui,
Affiliated Company:-
Karan
International
Flat 1, 17/F.,
Star Mansion, 3-5 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.
Associated Company:-
Sunny Diamonds,
Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
32543098-000-04
MANAGEMENT
Manager: Mr. Mukesh Kumar Parekh
SOLE PROPRIETOR
Name: Mr. Mukesh Kumar PAREKH
Residential Address:
Room 1701, 17/F., Star Mansion, 3-5 Minden Avenue, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was
established on 1st April, 2002 as a sole proprietorship concern owned by Mr.
Jignesh Bameshchandra Benani under the Hong Kong Business Registration
Regulations.
Mr. Mukesh Kumar
Parekh joined in as a partner on 1st October, 2002 and Benani retired on 15th
December, 2002. Now, the subject is
solely owned by Parekh.
Formerly the
subject was located at Flat C, 11/F., Star Mansion, 3-5 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June 2005.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds of diamonds,
ruby, sapphire, and other precious stones.
Employees: Nil.
Raw Materials: India, etc.
Markets: Hong Kong, Japan, Southeast
Asia, the Middle East, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a very small profit every year.
Condition: Business is not very active.
Facilities: Banking facilities are not actively used.
Payment: Met as required.
Commercial
Morality: Fairly satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
GENERAL
Hinkar Exports is
a sole proprietorship set up on 1st April, 2002 and owned by Mr. Mukesh Kumar
Parekh who is an Indian. Parekh is an
India passport holder and he has got a Hong Kong ID Card.
The subject’s
operating office is in a “commercial and residential building”.
The subject is a
rough diamond trader. Raw materials are
chiefly imported from India. Rough
diamonds are polished and cut in Hong Kong.
Finished products are exported to Japan, Southeast Asia, the Middle
East, etc. Business is not very active.
Parekh is also the
sole proprietor of Karan International which was established on 20th January,
1999. Karan International is also a
diamond trader. The operating address
of Karan International is also the residential address of Parekh.
Besides the
subject, another firm known as Sunny Diamonds is also located at the subject’s
registered address. Being a diamond trader,
Sunny Diamonds is owned by Mr. Sunil Chaturbhai Patel who is also an
Indian. The subject’s registered
address is the residential address of Patel.
The subject is
just a one-man-company operated by Parekh.
On the whole,
consider the subject good for normal business engagements on L/C basis.
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)