MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROLLING STONE |
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Registered Office : |
Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin,
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.07.2001. |
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Com. Reg. No.: |
31973387-000-07 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Wholesaler and Re-exporter of all kinds of Diamond 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
ROLLING STONE
ADDRESS
Flat D, 6/F.,
Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong
Kong.
PHONE: 2334 5550
FAX: 2334 4449
MANAGEMENT
Manager: Mr. Gaurang Ramesh Paymaster
SUMMARY
Establishment: 1st July, 2001.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Wholesaler and Re-exporter.
Employees: Nil.
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat D, 6/F.,
Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong
Kong.
BUSINESS REGISTRATION NUMBER
31973387-000-07
MANAGEMENT
Manager: Mr. Gaurang Ramesh Paymaster
SOLE PROPRIETOR
Name: Mr. Gaurang Ramesh PAYMASTER
Residential
Address :Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon,
Hong Kong.
HISTORY
The subject was established on 1st July, 2001 as a sole proprietorship concern of Mr. Gaurang Ramesh Paymaster under the Hong Kong Business Registration Regulations.
Initially the subject was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor, moved to the present address in June 2002.
Apart from these, neither material change nor amendment has
been ever traced and noted.
OPERATIONS
Activities: Importer, Wholesaler and Re-exporter.
Lines: All kinds of
diamond and jewellery.
Employees: Nil.
Commodities
Imported: Imported from
Europe, India, etc.
Markets: Hong Kong,
India, etc.
Terms/Sales: As
per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Made small profits in past years.
Condition: Business is fairly active.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Fair.
Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Standing: Small.
GENERAL
Rolling Stone is a sole proprietorship set up and owned by Mr. Gaurang Ramesh Paymaster, an Indian who has been in Hong Kong for a very long time.
Business commenced on 1st July, 2001, the subject is a diamond importer and wholesaler. Raw materials are mainly imported from India and Europe. Processed diamonds are marketed in Hong Kong which is the prime market. Most of its clients are Indian diamond retailers and exporters. Business has been fairly active. In recent years, the subject also has exported some of its products to India and the Middle East.
Last time, the subject’s office was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor. In June 2002, the subject moved to the present address where is supposed to be Mr. Paymaster’s new residence. The residential building Lake View Garden is not trespassed by outsiders. However, Mr. Paymaster’s registered address is still located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong.
The subject’s business is chiefly handled by Mr. Paymaster himself. He always frequents to India to purchase raw diamonds. The subject has no other employees in Hong Kong. It is also a one-man-company.
The subject’s history in Hong Kong is over seven years.
On the whole,
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.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%)