MIRA INFORM REPORT

 

 

Report Date :           

07.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SUNRAYS

 

 

Registered Office :

Flat B1, 15/F., Golden Crown Court, 66-70 Nathan Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

25.03.2008

 

 

Com. Reg. No.:

39076238-000-03

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

SUNRAYS

 

 

Company ADDRESS

 

Flat B1, 15/F., Golden Crown Court, 66-70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:                  Not available

FAX:                       Not available

 

 

MANAGEMENT

 

Manager:  Mr. Puran Singh Bajetha

 

 

SUMMARY

 

Establishment:                          25th March, 2008.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat B1, 15/F., Golden Crown Court, 66-70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-

·         Embassy International (H.K.) Ltd., Hong Kong.

·         Embassy International, Hong Kong.

 

Associated Companies:-

·         Gandhi Enterprises Co. Ltd., Thailand.

·         Gandhi Enterprises, India.

·         Gandhi Jewels, Hong Kong.

·         Gemporium Inc., USA.

·         H.K. Dia Trading, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

39076238-000-03

 

 

MANAGEMENT

 

Manager:                       Mr. Puran Singh Bajetha

 

 

PARTNERS

 

Name:                           Mr. Puran Singh BAJETHA

Residential Address:      Flat G, 12/F., Luna Court, 55 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Mr. Milan Girdharlal MEHTA

Residential Address:      151/3 Samarat Ashok, 714 R.R. Thakkar Marg, Walkeshwar, Mumbai-400006, India.

 

 

HISTORY

 

The subject was established on 25th March, 2008 as a partnership concern jointly owned by Mr. Puran Singh Bajetha and Mr. Milan Girdharlal Mehta under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat G, 12/F., Luna Court, 55 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of diamonds and jewellery products, emerald, precious stones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Japan, India, other Asian countries, Europe, USA, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit in the past two years.

 

Condition:                      Keeping in a fairly satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Sunray is a partnership jointly owned by Puran Singh Bajetha and Milan Girdharlal Mehta.  Both are Indian.  Bajetha is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  He is also the manager of the subject.

The subject’s registered address and operating office is located at a residential building which is not trespassed by outsiders.  Formerly the subject’s registered address was located at Flat G, 12/F., Luna Court, 55 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.  Now, it has moved to Flat B1, 15/F., Golden Crown Court, 66-70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong where is also the registered residential address of Bajetha.  It is likely that the subject has not updated its information filed with the Inland Revenue Department Business Registration Office of the Hong Kong SAR Government.  The subject moved to the new address in June 2010.  So did Bajetha.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.  It has no employees in Hong Kong.

The subject is a diamond and precious stone importer, exporter and wholesaler.  It is also a commission agent.  The subject is the supplier, importer and exporter of diamonds in a wide variety like rose cuts diamonds, rose cut heart, etc.  It also trades in emerald, ruby, sapphire, aqumarine, taurmaline amythist blue topaz, and other coloured stones.  Its diamonds are imported from India, Belgium and other European countries, etc.  Some of the commodities are polished and cut diamonds.  Finished products and polished diamonds are marketed in Hong Kong or exported or re-exported to Japan, India, other Asian countries, and the United States.  Business is fairly active.

The subject has had affiliated companies in Thailand, India and the United States.  Business is chiefly handled by Bajetha himself.

The subject has got an associated company H.K. Dia Trading located at the same operating address.  H.K. Dia Trading is a sole proprietorship set up and owned by Bajetha on 10th February, 2005.  The subject and H.K. Dia Trading are engaged in the same lines of business, more or less.  H.K. Dia Trading is a one-man company.  Keeping a balance account or making a very small profit in the past years.  History in Hong Kong is over six years.

On the whole, since the registered office of the subject is in a residential building, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.22

UK Pound

1

Rs.72.25

Euro

1

Rs.63.09

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.