MIRA
INFORM REPORT
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Report Date : |
18.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANGHAVI EXPORTS LTD |
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Registered Office : |
RM 901, 9FL Hilder Centre 2 Sung Ping St Hunghom Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.07.2007 |
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Com. Reg. No.: |
1149269 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Local Distribution of Diamonds |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address of the company
SANGHAVI
EXPORTS LTD
RM 901, 9FL HILDER CENTRE 2 SUNG PING ST
HUNGHOM KOWLOON, HONG KONG.
TEL: 852-27218608 FAX: 852- 27239704
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 13, 2007
REGISTRATION NO. :
1149269
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
5
CAPITAL :
US$ 12,837
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80024 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
Registered Legal Address: 11B Hang Lung Bank Bldg 46-48 Granville Rd Tsimshatsui
Kowloon
*Company Registration*
===================
(1)
License number : 1149269
Date issued : 13 July, 2007
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 38177625-000
Issuing authority : Business Registration Office -
Inland Revenue Dept
Type of license : Business
*Capital Details*
=============
Share value : HKD 1.00/-each
Authorized capital : HKD
100,000.00 divided into 100,000 shares
Paid-up capital : HKD 10,000.00 divided into 10,000
shares
*Office & Facilities*
===============
Other tel no : 27220049
Previous address : 601-2
Trans Hk Commercial Bldg 41-43 Carnarvon Rd Tsimshatsui Kowloon Hong Kong
*Reputation*
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Due to the recent incorporation of the firm, and the relatively small
nature of it's business, no meaningful points of reference in terms of
reputation within the respective industry was possible.
*Approved Signatures*
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Mr. Prasannkumar Kantilal Shah can sign on behalf of the company with
seal affixed.
www.sanghaviexports.com the design
is professional and the content is well organized. At present it is in English
version.
E-mail:
hongkong@sanghaviexports.com
For the past two years there is no record of litigation.
*Major Shareholder*
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Total number of shareholders: 1
Total number of shares: 10,000
Shareholders Number
Amount (HKD) %
----------------------------- ------------ ----------------- ------
SANGHAVI EXPORTS INT'L PVT LTD 10,000.00 10,000.00 100.00
*Company Secretary*
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HARRIS SECRETARIES LTD
CR no. : 31138
Address : 7Fl Hong Kong Trade Centre 161-167 Des Voeux
Rd, Central, Hong Kong
Date of appointment : 13
July, 2007
SC declined to release its management background at present.
*Main Products & Services*
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Specializes in the import and local distribution of diamonds.
Products: Diamonds
Jewelry
Precious
metals
Precious
stones
Watches
*Payment Terms*
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Sales
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Local : Cash or credit
Purchases
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Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
35
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts depending
on individual judgement experience.
Since the company was only established six (6) months ago no financials
have been lodged.
SC is considered small-sized in its line with a short history. Credit
dealings with SC should be confined into small amount at present.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3911 Jewelry,
of precious metal
Importing 3961 Jewelry
of materials other than solid gold, platinum & silver
Importing 5094 Jewelry/Watches/Precious
Mtl
Trading 3961 Jewelry
of materials other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7100 Pearls,
stones, prec. metals, imitation jewelry, coins
Exporting 7103991000 Gemstones, cut but not set suitable for use in jewelry
Importing 7102 Diamonds,
worked or not, not mounted or set
Importing 7102100000 Diamonds, unsorted
Importing 7116201000 Jewelry of precious or semiprecious stones
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7102100000 Diamonds,
unsorted
Trading 7116201000 Jewelry
of precious or semiprecious stones
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Diamonds
Trader Jewelry
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from India
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)