MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
FINEX JEWELLERY
LTD. |
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Registered Office : |
Unit 8,(or Room 408) 4/F., Guardforce
Centre, |
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Country : |
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Date of Incorporation : |
31.07. 2006. |
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Com. Reg. No.: |
37034834 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter
and Wholesaler of all kinds of Jewellery and
Related Products. |
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
FINEX
JEWELLERY LTD.
ADDRESS
Unit 8,(or Room 408) 4/F., Guardforce
Centre,
PHONE: 3427 9777
FAX: 3427 9765
E-MAIL: aml@finexjewellery.com
MANAGEMENT
Managing
Director: Mr. Sukhrob
Saydaminov
SUMMARY
Incorporated
on: 31st
July, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Annual
Turnover: US$2.5-3.0 million.
Employees: 8.
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking
Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 8, 4/F., Guardforce Centre, 3 Hok Yuen
Street East, Hunghom, Kowloon,
Hong Kong.
Holding Company:-
Gregory Group
Ltd.,
BUSINESS REGISTRATION NUMBER
37034834
COMPANY FILE NUMBER
1063405
MANAGEMENT
Managing
Director: Mr. Sukhrob
Saydaminov
Contact
Person: Mr. Desmond Au
CAPITAL
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
SHAREHOLDER
(As per registry dated 31-07-2008)
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Name |
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No. of share |
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Gregory Group Ltd. 8 Copthall, |
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1 = |
DIRECTOR
(As per registry dated 31-07-2008)
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Name (Nationality) |
Address |
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Sukhrob SAYDAMINOV |
App. 47, Building 23, C-13 Block, 700128 |
SECRETARY
(As per registry dated 31-07-2008)
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Name |
Address |
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BP
Secretarial Services Ltd. |
Room 1802, 18/F., |
411623 |
HISTORY
The
subject was incorporated on 31st July, 2006 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was located at Room 1412,
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds
of jewellery and related products.
Employees: 8.
Commodities
Imported:
Markets:
Annual Turnover: US$2.5-3.0 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
Mortgage
or Charge:-
Date of Security Over
Deposits with the Bank (Limited Company – Under Seal): 08-01-2007
Amount: To secure all monies in
respect of banking facilities
Property: Initially HK$30,000 and all
monies whether now or hereafter standing to the credit of the Company’s deposit
with the Bank under deposit No. 012-869814-838 and whatever currency it may
subsequently be denominated in, any renewal of such deposit and the interest
thereon together with any further moneys in any deposit account with the Bank
at any of its offices
Mortgagee: The Hongkong
& Shanghai Banking Corp. Ltd.,
Profit & Loss: Kept a balance account in 2007.
Condition: Business is improving.
Facilities: Making active use of general
banking facilities.
Payment: Met as required.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing:
GENERAL
Finex Jewellery
Ltd. is a wholly-owned subsidiary of Gregory Group Ltd. which is a
Dominica-registered firm. Mr. Sukhrob Saydaminov is the only
director of the subject.
The
subject is a diamond importer, exporter and wholesaler. It is carrying 14K, 18K jewellery
products such as pearl jewellery, diamond jewellery, gemset jewellery, diamond gold jewellery,
etc. Products include bracelets,
brooches, earrings, necklaces, pendants, rings, others. Raw materials are imported from
Mr.
Saydaminov is a Uzbekistanian residing in
Annual
sales turnover ranges from US$2.5 to 3.0 million, business is improving. The subject’s business is chiefly handled by
Mr. Desmond Au who is a Hongkongnese.
On
the whole, since the history of the subject is less than two and a half years,
consider it good for normal business engagements on L/C basis.
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.49.95 |
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1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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%)