MIRA INFORM REPORT

 

 

Report Date :

14.10.2008

 

 

IDENTIFICATION DETAILS

 

Name :

THE  CHINA  DESIGN  CO.  (HK)  LTD.

 

 

Registered Office :

8/F., Chatham Commercial Building, 397-399 Chatham Road North, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.01. 2003.

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of Diamonds and Jewellery.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

name of the company

 

THE  CHINA  DESIGN  CO.  (HK)  LTD.

 

 

ADDRESS

 

8/F., Chatham Commercial Building, 397-399 Chatham Road North, Hunghom, Kowloon, Hong Kong.

PHONE:                  2339 1060

FAX:                       2336 5234

E-MAIL:                  vik@chinadesigns.hk.com

 

[Your enquiry given as: THE CHINA DESIGN (HK) LTD of the same address.]

 

 

MANAGEMENT

 

Managing Director:  Mr. Vikrant Arjan Vasvani

 

 

SUMMARY

 

Incorporated on:              10th January, 2003.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$2.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   6.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

8/F., Chatham Commercial Building, 397-399 Chatham Road North, Hunghom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

33321152

 

 

COMPANY FILE NUMBER

 

829325

 

 

MANAGEMENT

 

Managing Director:  Mr. Vikrant Arjan Vasvani

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$2.00

 

 

SHAREHOLDERS

(As per registry dated 10-01-2008)

 

Name

Occupation

No. of shares

Vikrant Arjan VASVANI

Company Director

1

Tina VASVANI

Company Director

1

 

 

––

 

Total:

2

=

 

 

DIRECTORS

(As per registry dated 10-01-2008)

Name

(Nationality)

 

Address

Shaleen Arjan VASVANI

Villa #49, Hattan 1, Emirates Lakes, Dubai, UAE.

 

Nirmala Arjan VASWANI

56 Rajat Apartments, Mount Pleasant Road, Bombay 400 006, India.

 

Vikrant Arjan VASVANI

8/F., Chatham Commercial Building, 397-399 Chatham Road North, Hunghom, Kowloon, Hong Kong.

 

Tina VASVANI

8/F., Chatham Commercial Building, 397-399 Chatham Road North, Hunghom, Kowloon, Hong Kong.

 

 

SECRETARY

 

Tina VASVANI  (As per registry dated 10-01-2008)

 

 

HISTORY

 

The subject was incorporated on 10th January, 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, Exporter and Wholesaler.

 

Lines:                           All kinds of diamonds and jewellery.

 

Employees:                   6.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Asia, the Middle East, Europe, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, etc.

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$2.00

 

Profit & Loss:    Making a small profit every year.

 

Condition:          Keeping in an active state.

 

Facilities:          Adequate for current running.

 

Payment:  Met as required.

 

Commercial Morality:  Satisfactory.

 

Banker:  The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:  Normal.

 

 

GENERAL

 

Incorporated in January 2003, The China Design Co. (HK) Ltd. is equally owned by Mr. Vikrant Arjan Vasvani and Ms. Tina Vasvani.  The subject has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.  Being Hong Kong ID Card holders, the two shareholders are also directors of the subject.

The subject is a jewellery importer and manufacturer.  Its manufacturing facilities are located in China.  However, details are unknown.

The subject was founded by a group of young professionals.  The subject’s products include the following items: pendants, rings, brooches, bangles and bracelets, necklaces, and other products.

Raw materials are imported from India, Belgium and other European countries, etc.  Some of the raw diamonds are polished or processed in Hong Kong.  Finished products and polished diamonds are exported or re‑exported to Japan, India, other Asian countries, the Middle East, etc.  The subject has had close business ties with the United Arab Emirates.  Overall business is active.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  The latest one participated was “Hong Kong International Jewellery Show 2008” which was held in Hong Kong.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our records.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.71

UK Pound

1

Rs.83.30

Euro

1

Rs.65.12

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions