MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
IG EXPORTS |
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Registered Office : |
Unit 23, 12/F., Block B, Focal Industrial Centre, |
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Country : |
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Date of Incorporation : |
29.05. 2007 |
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Com. Reg. No.: |
37990420-000-05 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and
Exporter of Sapphire, Ruby, Emerald, Gemstone, etc. |
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 : |
Regular |
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Litigation : |
Clear |
name of the company
IG
EXPORTS
ADDRESS
Unit 23, 12/F.,
Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2366 4499
FAX: 2366 5599
E-MAIL: iskcongems@biznetvigator.com
MANAGEMENT
Manager: Ms. Sunita Agarwal
SUMMARY
Establishment: 29th May, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Precious Stone Trader.
Employees: 6. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Unit 23, 12/F., Block
B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
Affiliated Companies:-
Iskcon Gems, Hong
Kong. (Same address)
Navaratna Exports
Ltd., India.
Navaratna Exports
Ltd., Thailand.
BUSINESS REGISTRATION NUMBER
37990420-000-05
MANAGEMENT
Manager: Ms. Sunita Agarwal
SOLE PROPRIETOR
Name: Ms. Sunita AGARWAL
Residential
Address: Flat B, 15/F., Harbourfront Landmark, Tower 2, 11 Wan Hoi Street,
Hunghom, Kowloon, Hong Kong.
HISTORY
The
subject was established on 29th May, 2007 as a sole proprietorship concern
owned by Ms. Sunita Agarwal under the Hong Kong Business Registration
Regulations.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Sapphire, ruby, emerald,
gemstone, etc.
Employees: 6.
(Including affiliates)
Commodities
Imported: India, Africa, Burma, Brazil, etc.
Markets: Asia, North America, South
America, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Too early to offer an opinion.
Condition: Business is still under developing.
Facilities: Trying to make use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
IG
Exports is a sole proprietorship set up on 29th May, 2007 and owned by Ms.
Sunita Agarwal.
Ms.
Agarwal a Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently.
The
subject has got an affiliated Iskcon Gems, Hong Kong, located at its operating
address. Iskcon Gems is owned by Mr.
Pinky Agarwal who is supposed to be a family member of Ms. Sunita Agarwal.
The
subject and Iskcon Gems are engaged in the same lines of business. Currently, Iskcon Gems is trading in the
following commodities:-
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Product/Service |
Product/Service Remarks |
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Fine Jewellery |
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Semi-Precious
Stone |
Citrine,
Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite
(Importer) Citrine,
Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite
(Exporter) |
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Sapphire |
From
Thailand, Australia, Ceylon (Importer) From
Thailand, Australia, Ceylon (Exporter) |
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Ruby |
From
Thailand, Burma, Africa (Importer) From
Thailand, Burma, Africa (Exporter) |
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Emerald |
From
Brazil, Zambia, Columbia (Importer) From
Brazil, Zambia, Columbia (Exporter) |
Most
of the commodities are import from Thailand, Burma, Africa, etc. Business is rather active. Finished products are exported to Asian
countries, North America, South America, Europe, etc.
Besides,
the subject and Iskcon Gems have got an affiliated company Navaratna Exports
Ltd. [Navaratna] which is an India-based firm.
Navaratna has set up a branch company in Bangkok, Thailand. Navaratna is also trading in sapphire, ruby,
emerald, and other kinds of semi-precious stones. Overall business is good.
The
subject is fully supported by its affiliated firms.
Since
the subject’s history in Hong Kong is short, consider it good for business
engagements on L/C basis for the time being.
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.49.29 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
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%)