MIRA INFORM
REPORT
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Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
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Name : |
CORUNDUM
HONG KONG LTD. |
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Registered Office : |
Suite 804, 8/F., Hunghom Commercial Centre, Tower A, 39 Ma Tau Wai Road, Hunghom, Kolwoon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.08.1997 |
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Com. Reg. No.: |
21194107 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Exporter of all kinds of jewellery and diamond products |
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 |
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
CORUNDUM
HONG KONG LTD.
Company ADDRESS
Suite 804, 8/F., Hunghom Commercial Centre, Tower A, 39 Ma Tau Wai Road, Hunghom, Kolwoon, Hong Kong.
PHONE: 2367 9195
FAX: 2723 0167
E-MAIL: more@biznetvigator.com
MANAGEMENT
Managing Director: Mr. Deepak Kumar More
SUMMARY
Incorporated on: 11th August, 1997.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$20.00
Business Category: Jewellery Trader.
Annual Turnover: HK$45~50 million.
Employees: 6.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Suite 804, 8/F., Hunghom Commercial Centre, Tower A, 39 Ma Tau Wai Road, Hunghom, Kolwoon, Hong Kong.
BUSINESS REGISTRATION NUMBER
21194107
COMPANY FILE NUMBER
0620186
MANAGEMENT
Managing Director: Mr. Deepak Kumar More
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$20.00
SHAREHOLDER
(As per registry dated 11-08-2010)
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Name |
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No. of shares |
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Deepak Kumar MORE |
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2 = |
DIRECTORS
(As per registry dated 11-08-2010)
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Name (Nationality) |
Address |
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Deepak Kumar MORE |
28/F., Block 46, Lower Baguio Villa, 550 Victoria Road, Pokfulam, Hong Kong. |
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Smita MORE |
28/F., Block 46, Lower Baguio Villa, 550 Victoria Road, Pokfulam, Hong Kong. |
SECRETARY
(As per registry dated 11-08-2010)
|
Name |
Address |
Co. No. |
|
Champion Corporate Ltd. |
Room 2002, 20/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong. |
0657221 |
HISTORY
The subject was incorporated on 11th August, 1997 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 305, 3/F., Chevalier House, 45‑51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from 8th February, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer and Exporter.
Lines: All kinds of jewellery and diamond products.
Employees: 6.
Commodities Imported: India, China, Thailand, etc.
Markets: Taiwan, South Korea, Singapore, Malaysia, North America, etc.
Annual Turnover: HK$45~50 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of HK$10.00 each)
Issued Share Capital: HK$20.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 2 ordinary shares of HK$10.00 each, Corundum Hong Kong Ltd. is wholly owned by Mr. Deepak Kumar More who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. D. K. More is also a director of the subject.
The subject is a diamond product and gemstone trader. It is an importer, exporter and manufacturer of fine coloured gems, etc. It is specialised in “Optix Cut Stones”. It also carries ruby, sapphire, morganite, rubllite, tourmaline, aquamarine, peridot, kunzite, rhodolite and other coloured gemstones. Commodities are imported from India, China, Thailand, etc. Major Markets are North America, Japan, Taiwan, South Korea, Southeast Asia and Western Europe. Overall business is active.
The annual sales turnover of the subject ranges from HK$45 to 50 million. Making a small profit every year.
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, it took part in Hong Kong International Jewellery Show which had been held during the period of 4th to 8th March, 2011.
The subject actually is owned by the More family. History in Hong Kong is over thirteen years and eight months.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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03-10-1997 |
Instrument: Mortgage Property: The Company authorises the Lender to apply any credit balance to which the Company is at any time beneficially entitled on any account at any office of the Lender in Hong Kong and elsehwere and set-off any liabilities of the Lender to the Borrower or the Company which are due or to become due in or towards satisfaction of all or any of the Obligations Mortgagee: Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure for the discharge of the Obligations and the observance and performance by Splendid Milestone Ltd. and the Company |
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06-10-1997 |
Instrument: Mortgage Property: The Company authorises the Lender to apply any credit balance to which the Company is at any time beneficially entitled on any account at any office of the Lender in Hong Kong and elsehwere and set-off any liabilities of the Lender to the Borrower or the Company which are due or to become due in or towards satisfaction of all or any of the Obligations Mortgagee: Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure for the discharge of the Obligations and the observance and performance by Splendid Milestone Ltd. and the Company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.45 |
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|
1 |
Rs.73.35 |
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Euro |
1 |
Rs.64.78 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.