MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
REX JEWELRY LTD. |
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Registered Office : |
Block B-2, 6/F., Hang Fung Industrial Building, Phase II,
2G Hok Yuen Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.07. 2003 |
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Com. Reg. No.: |
33749853 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Brooches, Rings, Bangles and Bracelets, 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
REX
JEWELRY LTD.
ADDRESS
Block B-2, 6/F., Hang Fung Industrial Building, Phase II, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2362 1077, 2362 6002
FAX: 2765 0200
MANAGEMENT
Managing Director: Mr. Behrouz Soleymani
SUMMARY
Incorporated on: 9th July, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Diamond Trader.
Annual Turnover: US$3.5-4.0 million.
Employees: 10. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Block B-2, 6/F., Hang Fung Industrial Building, Phase II, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
Affiliated Companies:-
Rex of NY Corporation, US.
Thailand Rex Jewelry, Thailand.
BUSINESS REGISTRATION NUMBER
33749853
COMPANY FILE NUMBER
852801
MANAGEMENT
Managing Director: Mr. Behrouz Soleymani
Contact Person: Mr. Amir Saltanat [Mobile No.: 9431 7385]
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDER
(As per registry dated 09-07-2008)
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Name |
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No. of shares |
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Behrouz SOLEYMANI |
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1,000,000 ======= |
DIRECTOR
(As per registry dated 09-07-2008)
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Name (Nationality) |
Address |
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Behrouz SOLEYMANI |
Block B-2, 6/F., Hang Fung Industrial Building, Phase II, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 09-07-2008)
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Name |
Address |
Co.
No. |
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Excel Secretaries Ltd. |
Room 1003, 10/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong. |
541950 |
HISTORY
The subject was incorporated on 9th July, 2003 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: Brooches, rings, bangles and bracelets, etc.
Employees: 10. (Hong Kong)
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Other Asian countries, US, Middle East, etc.
Annual Turnover: US$3.5-4.0 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Profit & Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, Rex Jewelry Ltd. is wholly-owned by Mr. Behrouz Soleymani who is a US passport holder.
Its main office is in New York, the United States and started business in 1970. Currently, it is engaged in wholesaling fine jewelry. Most of the products are marketed in the United States, Europe and the Middle East. Most of its designs are unique in platinum and 18K-14K diamonds and colour stones.
The subject has got a factory in Shatoujiao, Shenzhen Special Economic Zone, China, employing about 80 persons. Most of the subject’s products are manufactured by this factory. Raw materials are imported from Europe and India.
It also has got an office in Bangkok, Thailand. Overall business is active. Annual sales turnover ranges from US$3.5 to 4.0 million. Making a profit every year.
The subject’s main office in New York is Rex of NY Corporation which is chiefly administered by Mr. Behrouz Soleymani himself.
The subject’s business is handled by Mr. Amir Saltanat.
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)