MIRA
INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VIVA IMPEX |
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Registered Office : |
Room D, 7/F., Pacific Building, 65-67 Kimberley Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.11. 2006. |
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Com. Reg. No.: |
37384267-000-11 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds, Precious Stones, etc |
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 : |
No Complaints |
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Litigation : |
Clear |
name of the company
VIVA IMPEX
ADDRESS
Room D, 7/F.,
Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2311 1040
MANAGEMENT
Manager: Mr. Minal Madhubhai Davariya
SUMMARY
Establishment: 27th November, 2006.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Head Office:-
Room D, 7/F.,
Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
37384267-000-11
MANAGEMENT
Manager: Mr. Minal Madhubhai Davariya
SOLE PROPRIETOR
Name: Mr. Minal Madhubhai DAVARIYA
Residential
Address: N-5 Panchvati Society,
Ichhanath-Umra Surat, Gujarat‑395007, India.
HISTORY
The subject was
established on 27th November, 2006 as a sole proprietorship concern owned by Mr.
Minal Madhubhai Davariya under the Hong Kong Business Registration Regulations.
Initially the
subject was located at Flat G, 4/F., Luna Court, 53-59 Kimberley Road,
Tsimshatsui, Kowloon, Hong Kong, moved to the present address in December 2007.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds, precious stones, etc.
Employees: Nil.
Commodities Imported: India, Israel, etc.
Markets: Hong Kong, India, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Suffered from a small loss in 2007.
Condition: Business is not very active.
Facilities: Trying to make use of general banking facilities.
Payment: May be meet as required.
Commercial Morality: Fairly satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
GENERAL
Viva Impex is a sole proprietorship set up and owned by Mr. Minal Madhubhai Davariya who is an India passport holder.
Business commenced in November 2006, the subject’s operating address is located at a residential building. The subject’s new registered address “Room D, 7/F., Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong” seems to be the residential address of the proprietor in Hong Kong.
According to the subject, it is trading in diamonds, precious stones, jewellery products mounted with diamonds. Raw materials are imported from India, Belgium and other European countries, etc. Raw diamonds are processed in Hong Kong while finished products are wholesaled in Hong Kong, exported to India and other Asian countries.
Davariya has developed business ties with some of the jewellery firms in Surat, Gujarat, India. Business is still under development. The subject is just a small diamond trader.
Business handled by Davariya himself, the subject suffered from a small loss in 2007.
On the whole, consider the subject 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.44.37 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.63.41 |
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%)