MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
PRATEEK EXPORTS |
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Registered Office : |
Flat D & E, 8/F., |
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Country : |
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Date of Incorporation : |
08.01.1990. |
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Com. Reg. No.: |
13300968-000-01 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of All kinds of Diamonds. |
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
PRATEEK EXPORTS
ADDRESS
Flat D & E,
8/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2367 5960
FAX: 2367 6675
E-MAIL: prateekexp@netvigator.com
MANAGEMENT
Manager: Mr. Sunil Jain
SUMMARY
Establishment: 8th January, 1990.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: US$10-15 million.
Employees: 7.
Main Dealing Banker: UCO Bank, Hong Kong Branch..
Banking Relation: Satisfactory.
ADDRESS
Head
Office:-
Flat D & E,
8/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
P.O. Box 90929,
Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
13300968-000-01
MANAGEMENT
Manager: Mr. Sunil Jain
SOLE PROPRIETOR
Name: Mr. Sunil JAIN
Residential
Address: Flat 7, 7/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The
subject was established on 8th January, 1990 as a concern owned by under the Hong Kong Business Registration
Regulations.
The
following table shows the changes of the partners:-
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Name |
Incoming Date |
Outgoing Date |
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Sunil Jain |
08-01-1990 |
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Ragendra, Jain |
08-01-1990 |
01-01-1992 |
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Jatin Champaklal Magiya |
01-11-1995 |
31-07-2000 |
Originally
the subject was located at Flat 7, 7/F., Star Mansion, 3-5 Minden Row,
Tsimshatsui, Kowloon, Hong Kong, moved to Flat B-4, 8/F., Block B, Hong Yuen
Court, 1-11 Tak Shing Street, Kowloon, Hong Kong in July 1990; to Flat B, 6/F.,
Bo Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong in May 1993; to
Flat E, 8/F., Cameron Plaza, 23‑25A Cameron Road, Tsimshatsui,
Kowloon, Hong Kong in May 1995; and has expanded business by occupying the next
door Flat D in January 1998.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds.
Employees: 7.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, India, other Asian countries, etc.
Annual Turnover: US$10-15 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Maintaining a small profit every year.
Condition: Keeping in a rather active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: UCO Bank, Hong Kong Branch..
Standing: Small.
GENERAL
Prateek
Exports is a sole proprietorship set up on 8th January, 1990 and owned by Mr.
Jain Sunil who is an Indian and has been in Hong Kong for a very long time.
The
subject is trading in loose diamonds, single cut diamonds, tapper cut diamonds,
full cut diamonds, etc. Most of the
products are for watches and jewellery.
Raw materials are chiefly imported from India. Rough diamonds are polished or processed in
Hong Kong. Finished products are
exported to the other Asian countries, Europe, the Middle East, etc.
The
subject has developed long term business ties with suppliers in India and
buyers in Asia and the Middle East.
The
annual sales turnover of the subject ranges from US$10 to 15 million. Handled by Mr. Sunil Jain, the subject’s
business is active and profitable.
Having
a history of about eighteen years in Hong Kong, the subject is considered 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.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%)