MIRA INFORM REPORT

 

 

Report Date :           

26.04.2011

 

IDENTIFICATION DETAILS

 

Name :

STERLING  STAR  (HK)  LTD.

 

 

Registered Office :

Room 803, 8/F., V. Heun Building, 138 Queen’s Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

07.04.2008

 

 

Com. Reg. No.:

53467140

 

 

Legal Form :

Private Limited Company.

 

 

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

 

STERLING  STAR  (HK)  LTD.

 

 

Company ADDRESS

 

Room 1007, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2724 8488

FAX:                 2724 3988

E-MAIL:            bhaveshjaveri@hotmail.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Bhavesh Deepak Javeri

 

 

SUMMARY

 

Incorporated on:             7th April, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Office:-

Room 803, 8/F., V. Heun Building, 138 Queen’s Road Central, Hong Kong.

 

Head Office:-

Room 1007, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Holding Company:-

Wilpac Ltd., Hong Kong.

 

Associated/Affiliated Companies:-

Lotus Jewellery DMCC, UAE.

Sterling Star Trading LLC, UAE.

 

 

BUSINESS REGISTRATION NUMBER 

 

53467140

 

 

COMPANY FILE NUMBER

 

1223841

 

 

MANAGEMENT

 

Managing Director:  Mr. Bhavesh Deepak Javeri

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00 (Subscriber’s share)

 

 

SUBSCRIBER

(As per registry dated 07-04-2010)

 

Name

 

No. of share

Wilpac Ltd., Hong Kong.

 

1

=

 

 

DIRECTOR    

(As per registry dated 16-12-2010)

 

Name

(Nationality)

 

Address

Bhavesh Deepak JAVERI

5 Navyug Niketan Teen Bhatti, 185 Walkeshwar Road, Mumbai MS 400006, India.

 

 

SECRETARY

(As per registry dated 16-12-2010)

 

Name

Address

Co. No.

Akin Professionals Ltd.

20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.

1273165

 

 

HISTORY

 

The subject was incorporated on 7th April, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Whiteland Consultants Ltd., name changed to the present style on 23rd December, 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:                   2.

 

Commodities Imported:   India, etc.

 

Markets:                       Asian countries, UAE, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00 (Subscriber’s share)

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Sterling Star (HK) Ltd. is a wholly-owned subsidiary of Wilpac Ltd. which is a Hong Kong-registered firm.  The managing director of the subject Bhavesh Deepak Javeri is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject is a diamond trader.  It has had associated companies in Dubai, the United Arab Emirates known as Sterling Star Trading LLC and Lotus Jewellery DMCC.  Located at the same address in the United Arab Emirates, both firms are operated by Javeri.  Lotus Jewellery DMCC is a member of Dubai Multi-Commodities Centre.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds, etc.  Commodities are sourced from India and other Asian countries, products are marketed in China, exported to Japan, other Asian countries and the United Arab Emirates.  Business is improving.

As the history of the subject in Hong Kong is just over three years, on the whole, consider it good for normal business engagements in small credit amounts.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.73.35

Euro

1

Rs.64.78

 

 

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

----

NB

New Business

----

 

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.