MIRA INFORM
REPORT
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Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
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Name : |
S
& S INTERNATIONAL |
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Registered Office : |
Flat B1, 7/F., |
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Country : |
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Date of Incorporation : |
17.06.1997 |
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Com. Reg. No.: |
21018163-000-06 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of diamonds, jewellery and liquor. |
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 : |
Usually Correct |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name
S & S
INTERNATIONAL
Company
ADDRESS
Flat B1, 7/F.,
PHONE: 2311 6353
FAX: 2366 6135
E-MAIL: ssinter@netvigator.com
MANAGEMENT
Manager: Mr. Mehul Girishbhai Tanna
SUMMARY
Establishment: 17th June, 1997.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Company
ADDRESS
Head Office:-
Flat B1, 7/F.,
Associated
Companies:-
· JKM Enterprises, Hong Kong. (Same address)
·
Ocean Diamonds,
·
Precious Jewels Ltd.,
BUSINESS
REGISTRATION NUMBER
21018163-000-06
MANAGEMENT
Manager: Mr. Mehul Girishbhai Tanna
SOLE
PROPRIETOR
Name: Mr. Mehul Girishbhai TANNA
Residential Address: Flat
B, 5/F.,
Kong.
HISTORY
The subject was established on 17th June, 1997 as a sole proprietorship concern owned by Mr. Manish Pravinbhai Kheni under the Hong Kong Business Registration Regulations. On 1st April, 1999, Mr. Mehul Girishbhai Tanna joined in as partner. However, Kheni retired on 1st April, 2000. Since then, the subject has become a sole proprietorship of Mr. Mehul Girishbhai Tanna.
Originally the subject was located at Room 506, 5/F., Hart Avenue Plaza, 5‑9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 8/F., Kam Ma Building, 16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong in January 2002, to Flat A5, 10/F., Block A, Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong in July 2004, and further moved to the present address in October 2009.
Apart
from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds, jewellery and liquor.
Employees: Nil.
Commodities Imported: Europe,
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Capital: Not disclosed.
Profit or Loss: Just made a very small profit in the past years.
Condition: Business is normal
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing: Small.
GENERAL
S
& S International is a sole proprietorship owned by Mr. Mehul Girishbhai Tanna
who is an Indian and has been in
The subject’s old registered address was located at Flat A5, 10/F., Block A, Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong where was in a private building. In October 2009, the subject moved to the present address. Its new office is also not in a commercial building but a residential building. It is likely that Tanna has moved to this new address but does not make any amendments on its registration materials. The subject’s operating address is also Tanna’s new residential address.
The premises where the subject is located are jointly owned by Mr. Mehul Girishbhai Tanna and Ms. Anjaly Mehul Tanna. They bought the premises on 21st September, 2009 at a consideration of HK$7.25 million.
The subject has got associated companies Ocean Diamond and JKM Enterprises located at its operating office. Ocean Diamonds is a sole proprietorship set up and owned by Tanna. This firm commenced business on 1st May, 2001. JKM Enterprises is also owned by Tanna and was established on 1st September, 1999.
The
subject is a diamond, jewellery and liquor trader. However, its main business seems to be
trading in diamond and jewellery. It
imports rough diamonds from
Business handled by Tanna himself, all the firms owned by him made very small profits or just kept a balance account in the past years. The subject is a one-man company.
On the whole, consider the subject good for normal business engagements in small credit amounts.
REMARKS:
Court Cases: None per our.
Property information of the proprietor:-
Property Location: Flat B on 7/F.,
Owner: Mehul Girishbhai Tanna & Anjaly Mehul Tanna
Date of Purchase: 21-09-2009
Purchased Price: HK$7,250,000
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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21-09-2009 |
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Dah Sing Bank Ltd., |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.71.97 |
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Euro |
1 |
Rs.63.23 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.