MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
FINE COLOURS |
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Registered Office : |
Flat 4A, 4/F., Block A, Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.03.2005 |
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Com. Reg. No.: |
35381403-000-03 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery products, emerald, 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 : |
Regular |
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Litigation : |
Clear |
name
FINE COLOURS
Address
Flat 4A, 4/F., Block A, Prat Mansion,
26-36 Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
(Your enquiry given as:
FINE COLORS
of the same address.)
ADDRESS
Flat 4A, 4/F., Block A, Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
Phone: Not Available
Fax: Not Available
MANAGEMENT
Manager: Mr. Ravi Todwal
SUMMARY
Establishment: 3rd March, 2005.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Jewellery Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat 4A, 4/F., Block A, Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
35381403-000-03
MANAGEMENT
Manager: Mr. Ravi Todwal
SOLE PROPRIETOR
Name: Mr. Ravi TODWAL
Residential Address: Flat F, 12/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 3rd March, 2005 as a partnership concern jointly owned by Ravi Todwal and Abhishek Khandelwal under the Hong Kong Business Registration Regulations. Became a sole proprietorship on 14th November, 2006 as the latter retired.
At the very beginning, the subject was located at Flat F, 12/F., Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat A, 6/F., Rear Ocean View Court, 31-33 Mody Road, Tsimshatsui, Kowloon, Hong Kong in September 2005; moved to Flat C, 9/F., Block A, Winglee Building, 27-33 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in July 2007; and further 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 and jewellery products, emerald, etc.
Employees: Nil.
Commodities Imported: India, Belgium, etc.
Markets: Japan, other Asian countries, etc.
Terms/Sales: L/C.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a very small profit every year.
Condition: Keeping in a fair manner.
Facilities: Rather actively using general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Fine Colours is a sole proprietorship owned by Mr. Ravi Todwal who is an Indian. Todwal is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject does not have its own operating office. Its registered address is in the residence of the sole proprietor although the new address of the sole proprietor has not registered with the Hong Kong authority. Business seems not very active in Hong Kong
The subject is a diamond, gem stone and jewellery product trader. 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 Asian countries and Europe, etc.
Being a one-man-company, the subject’s business is handled by Mr. Ravi Todwal himself. Just makes a very small profit every year.
On the whole, since the subject does not have its own office and has no employees in Hong Kong, consider it good for 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.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%)