MIRA INFORM
REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Name : |
IG
EXPORTS |
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Registered Office : |
Room 1223, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.05.2007 |
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Com. Reg. No.: |
37990420-000-05 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of Sapphire, ruby, emerald, gemstone, diamond, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Hong Kong |
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
IG EXPORTS
Company
ADDRESS
Room 1223, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2366 4499
FAX: 2366 5599
E-MAIL: iskcongems@biznetvigator.com
MANAGEMENT
Manager: Ms. Sunita Agarwal
SUMMARY
Establishment: 29th May, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Precious Stone and Diamond Trader.
Employees: 5. (Including affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company
ADDRESS
Head Office:-
Room 1223, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
Affiliated
Companies:-
IGM Exports, India.
Iskcon Gems, Hong Kong. (Same address)
Navaratna Exports Ltd., Thailand.
BUSINESS
REGISTRATION NUMBER
37990420-000-05
MANAGEMENT
Manager: Ms. Sunita Agarwal
SOLE
PROPRIETOR
Name: Ms. Sunita AGARWAL
Residential Address: Flat B, 15/F., Harbourfront Landmark, Tower 2, 11 Wan Hoi Street, Hunghom, Kowloon,
Hong Kong.
HISTORY
The subject was established on 29th May, 2007 as a sole proprietorship concern owned by Ms. Sunita Agarwal under the Hong Kong Business Registration Regulations.
Apart from these, neither material
change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Sapphire, ruby, emerald, gemstone, diamond, etc.
Employees: 5. (Including affiliates)
Commodities Imported: India, Africa, Burma, Brazil, etc.
Markets: Asia, North America, South America, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Capital: Not disclosed.
Profit or Loss: Made a small profit in 2010.
Condition: Business is normal.
Facilities: Making rather active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
IG Exports is a sole proprietorship set up on 29th May, 2007 and owned by Ms. Sunita Agarwal who is an India businesswoman. She is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject has got an affiliated company known as Iskcon Gems located at its operating address. Iskcon Gems is owned by Mr. Pinky Agarwal who is supposed to be a family member of Sunita Agarwal.
The subject and Iskcon Gems are engaged in the same lines of business. Currently, Iskcon Gems is trading in the following commodities:-
|
Product/Service |
Product/Service
Remarks |
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Fine Jewellery |
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Semi-Precious Stone |
Citrine, Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite (Importer) Citrine, Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite (Exporter) |
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Sapphire |
From Thailand, Australia, Ceylon (Importer) From Thailand, Australia, Ceylon (Exporter) |
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Ruby |
From Thailand, Burma, Africa (Importer) From Thailand, Burma, Africa (Exporter) |
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Emerald |
From Brazil, Zambia, Columbia (Importer) From Brazil, Zambia, Columbia (Exporter) |
The subject’s main products carried are loose diamonds, loose gemstones and loose blue topaz. Most of the commodities are import from Thailand, Burma, Africa, India, etc. Business is rather active. Finished products are exported to Asian countries, North America, South America, Europe, etc.
Besides, the subject and Iskcon Gems have got an affiliated company Navaratna Exports Ltd. [Navaratna] which is a Thailand-based firm. Navaratna is in Bangkok, Thailand.
Another affiliated firm of Iskcon Gems in India is known as IGM Exports. This firm is in Jaipur, India. IGM Exports is trading in sapphire, ruby, emerald, and other kinds of semi-precious stones. Overall business is good.
In order to penetrate the international market further, Iskcon Gems has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. The history of Iskcon Gems is over twenty-five years in India.
The subject is fully supported by its affiliated firms both in Hong Kong and overseas. Business is normal.
The history of the subject in Hong Kong is about four years.
On the whole, consider it good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
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|
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.69 |
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.