MIRA INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHAPURA IMPEX |
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Registered Office : |
Flat F, 14/F., Windsor Mansion, 29-31
Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
34127244-000-12 |
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Legal Form : |
Partnership. |
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Line of Business : |
Wholesaler and Exporter of all kinds of
diamonds and gem stones. |
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
ASHAPURA IMPEX
Address
Flat F, 14/F., Windsor Mansion,
29-31 Chatham Road South,
Tsimshatsui, Kowloon,
Hong Kong.
(Formerly located at:
Flat F, 5/F., Far East Mansion,
5-6 Middle Road, Tsimshatsui,
Kowloon, Hong Kong.)
ADDRESS
Flat F, 14/F., Windsor Mansion, 29-31 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong.
Phone: Not
Available
Fax: Not
Available
MANAGEMENT
Manager:
Mr. Rakesh Jayantilal Shah
SUMMARY
Establishment: 9th December, 2003.
Organization: Partnership.
Capital:
Not disclosed.
Business Category: Gem Stone Wholesaler and Exporter.
Employee:
1.
Main Dealing Banker: Indian Overseas Bank,
Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head
Office:-
Flat F, 14/F., Windsor Mansion, 29-31 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
34127244-000-12
MANAGEMENT
Manager:
Mr. Rakesh Jayantilal Shah
PARTNERS
Name:
Rakesh Jayantilal
SHAH
Residential Address: Shahiyar Kunj, 4/F., 401, 1-12-6 Misuji,
Taito-ku, Tokyo 111-0055, Japan.
Name:
Hetal
Rakesh SHAH
Residential Address: Shahiyar Kunj, 4/F., 401, 1-12-6 Misuji, Taito-ku, Tokyo
111-0055, Japan.
HISTORY
The subject was established on 9th December,
2003 as a partnership concern owned by three Indian under the Hong Kong
Business Registration Regulations.
The following table shows the changes of the
partners:-
|
Name |
Incoming Date |
Outgoing Date |
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Rakesh Jayantilal
Shah |
09-12-2003 |
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Himanshu
Jayantilal Shah |
09-12-2003 |
01-01-2004 |
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Amishkumar
Chandulal Shah |
09-12-2003 |
01-10-2007 |
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Hetal Rakesh
Shah |
01-10-2007 |
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Initially the subject was located at Flat F, 5/F.,
Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong, moved to
the present address in June 2007.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Wholesaler
and Exporter.
Lines:
All kinds of diamonds and gem stones.
Employee: 1.
Commodities Imported: India, Thailand, Europe, etc.
Markets: Hong
Kong, Japan and other Asian countries.
Terms/Sales:
COD or
as per contracted.
Terms/Buying: L/C,
T/T, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit & Loss: Making a small profit every year.
Condition:
Business is fairly
active.
Facilities:
Making fairly active
use of general banking facilities.
Payment:
Met trade commitments
on time.
Commercial Morality: Satisfactory.
Banker:
Indian Overseas
Bank, Hong Kong Branch.
Standing:
Small.
GENERAL
Ashapura Impex is a partnership concern
jointly owned by Mr. Rakesh Jayantilal Shah and Mr. Hetal Rakesh Shah. Being Indian, the two Shahs seem to be the
members of the Shah family.
The subject’s telephone number and fax number
have not registered with local telephone company nor listed on telephone
directories.
Business commenced in December 2003, the
subject is trading in loose diamonds, gem stones, precious stones,
semi-precious stones, sapphire, Tanzanite, etc. Raw materials are imported from India, Belgium and other European
countries. Gem stones and diamonds are
processed, polished and cut in Hong Kong.
Finished products are exported to Japan, other Asian countries and
Europe, etc.
The subject’s Manager Rakesh Jayantilal Shah
has been residing in Tokyo, Japan for a long time. He seems to be responsible for marketing the subject’s products
in Japan.
In order to penetrate the international
market further, the subject has taken part in fairs and exhibitions held in
Hong Kong and other foreign large cities.
For instance, the subject took part in the “International Jewelry
Vietnam 2008” which was held in Ho Chi Minh City, Vietnam from 2nd to 4th May,
2008.
The subject’s business is chiefly handled by
the Shah family who have closed business ties with the jewellery firms in
Mumbai, India.
The subject’s history in Hong Kong is less
than five years.
On the whole, consider the subject good for
small 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.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)