MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
HEARTS &
ARROWS LTD. |
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Registered Office : |
6/F., Tung Fai Building, 27-27A Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.05. 2008 |
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Com. Reg. No.: |
39283350 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds and
Jewellery Products |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name of the company
HEARTS
& ARROWS LTD.
ADDRESS
6/F., Tung Fai
Building, 27-27A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2367 3060
FAX: 2367 1162
MANAGEMENT
Managing
Director: Mr. Romil Devendrabhai Shah
SUMMARY
Incorporated on: 9th May, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$1,000,000.00
Business Category: Jewellery Trader.
Employees: 12. (Including affiliate)
Main Dealing Banker: Dah Sing Bank Ltd., Hong Kong.
Banking Relation: Too early to comment.
ADDRESS
Registered Office:-
Unit A, 16/F.,
Brilliant Coaurt, 78 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
Head Office:-
6/F., Tung Fai
Building, 27-27A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
A. K. Export, Hong
Kong. (Same address)
BUSINESS REGISTRATION NUMBER
39283350
COMPANY FILE NUMBER
1236191
MANAGEMENT
Managing
Director: Mr. Romil Devendrabhai Shah
CAPITAL
Nominal Share
Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
SHAREHOLDER
(As per registry dated 09-05-2008)
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Name |
Occupation |
No. of shares |
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Romil Devendrabhai SHAH |
Diamond Business Executive |
1,000,000 ======= |
DIRECTORS
(As per registry dated 09-05-2008)
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Name (Nationality) |
Address |
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Romil
Devendrabhai SHAH |
501 Dhara Apartment, Opp. Hari Om Eye
Hospital, Asha Nagar, Navsari 396445, Gujarat, India. |
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Sumitkumar
Dineshchandra SHAH |
501 S-PAL Heim Building, 4-22-4 Taito
Taito-ku, Tokyo 110-0016, Japan. |
SECRETARY
(As per registry dated 09-05-2008)
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Name |
Address |
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Bayani
Divino Bautista PONCE |
2B, King’s Court, 48-52 Fort Street, North Point, Hong Kong. |
HISTORY
The subject was
incorporated on 9th May, 2008 as a private limited liability company under the
Hong Kong Companies Ordinance.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery products.
Employees: 12. (Including affiliate)
Commodities Imported: India, Belgium, etc.
Markets: Japan, other Asian countries, etc.
Annual Turnover: Too early to obtain figure.
Terms/Sales: L/C.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
Profit & Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Trying to make use of general banking facilities.
Payment: May be meet as required.
Commercial Morality: Too early to comment.
Banker: Dah Sing Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Incorporated in 9th May, 2008, Hearts & Arrows Ltd. is wholly owned by Mr. Romil Devendrabhai Shah who is an Indian residing in Navsari, Gujarat, India. He is an India passport holder.
The subject has got an affiliated company A. K. Export located at the subject’s operating address. A. K. Export and the subject are engaged in the same lines of business. A. K. Export is owned by Mr. Atul Shah and Mr. Pradip Nagindas Shah. The two partners, including the sole proprietor of the subject, belong to the Shah family.
The subject is a diamond and jewellery product trader. Raw materials are imported from India, Belgium and other European countries, etc. Some of the commodities are polished diamonds. Some of the raw diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are exported or re-exported to Japan, India and other Asian countries.
The subject’s another director Sumitkumar Dineshchandra Shah is in Japan. He is responsible for distributing the subject’s products in Japan.
The subject’s business is chiefly handled by the partners of A. K. Export. Business is under development.
Since the history of the subject is less than four months, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.21 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.64.72 |
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%)