MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room C, 8/F., |
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Country : |
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Date of Incorporation : |
08.07. 2003. |
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Com. Reg. No.: |
33736878-000-07 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer,
Wholesaler and Exporter of Diamonds and Jewellery. |
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
KRISHNA
JEWELS
ADDRESS
Room C, 8/F.,
Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
MANAGEMENT
Manager: Mr. Laxman Dattaram Dalavi
SUMMARY
Establishment: 8th July, 2003.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Wholesaler and Exporter.
Employee: 1.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room C, 8/F.,
Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
33736878-000-07
MANAGEMENT
Manager: Mr. Laxman Dattaram Dalavi
SOLE PROPRIETOR
Name: Mr. Laxman Dattaram DALAVI
Residential
Address: At 8 Post Anjani
Tal-Khed-Dtst-Ratnagiri M.S., India.
HISTORY
The
subject was originally established on 8th July, 2003 as a partnership concern
jointly owned by Mr. Nileshkumar Kantibhai Patel and Mr. Nilesh
Karshanbhai Sankdasaria under the Hong Kong Business Registration
Regulations. Converted into a sole
proprietorship company of Mr. Nilesh Karshanbhai Sankdasaria on 11th
December, 2003 as Mr. Nileshkumar Kantibhai Patel retired.
On
4th July, 2006, Mr. Laxman Dattaram Dalavi joined in as a partner and
Mr. Nilesh Karshanbhai Sankdasaria retired on 11th July, 2006. Now, the subject is solely owned by Mr.
Dalavi.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Wholesaler and
Exporter.
Lines: Diamonds and jewellery.
Employee: 1.
Commodities
Imported: Imported from Europe, India, Belgium, etc.
Markets: India, US, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C
and T/T.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit.
Condition: Business is normal.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Krishna
Jewels is a sole proprietorship concern owned by Mr. Laxman Dattaram Dalavi who
is an Indian currently residing in India.
He is an India passport holder and does not have the right to reside in
Hong Kong permanently.
The
subject’s operating office is inside a residential building, located at Room C,
8/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong
Kong. The residential building is not
trespassed by outsiders.
To
our knowledge, the subject is trading in all kinds of jewellery and loose
diamonds. Raw materials such as rough
diamonds are imported from Europe and India.
After processing in Hong Kong, finished products are exported to the
other Asian countries, India, the United States and European countries. Business is normal.
The
subject’s business is handled by another Indian who is residing at the
subject’s operating address.
In
India, there is a firm bears the same name as the subject. The India Krishna Jewels, in New Delhi, also
trades in jewellery and diamond. It also
trades in precious stones, gems and glass products. The subject is considered having business
ties or an affiliate with India Krishna Jewels.
According
to the records of Inland Revenue Department Business Registration Office of
Hong Kong, Mr. Nileshkumar Kantibhai Patel had reside in the subject’s
operating address before he retired. It
is very likely that Mr. Laxman Dattaram Dalavi also resides at the subject’s
operating office when he comes to Hong Kong.
Since
the history of the subject is over five years, consider it good for small
business engagements.
COURT CASES: None per our records.
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%)