MIRA INFORM REPORT

 

 

Report Date :

28.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SAFA  IMPEX

 

 

Registered Office :

8/F., Howard Building, 44 Hankow Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

24.03.2010

 

 

Com. Reg. No.:

51973341-000-03

 

 

Legal Form :

Partnership

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones, 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

 

SAFA  IMPEX

 

 

ADDRESS

 

8/F., Howard Building, 44 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            Not available

 

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Katheeb Seyed Alaui

 

 

SUMMARY

 

Establishment:                          24th March, 2010.

 

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.

ADDRESS

 

Head Office:-

8/F., Howard Building, 44 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51973341-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Katheeb Seyed Alaui

 

 

PARTNERS

 

Name:  Mr. Ibrahim HAMID

Residential Address:      Flat C4 & C6, 7/F., Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:  Mr. Katheeb Seyed ALAUI

Residential Address:      8/F., Howard Building, 44 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:  Mr. Jalal Khan SAYED MOHAMED

Residential Address:      Flat C6, 7/F., Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 24th March, 2010 as a partnership concern jointly owned by Mr. Ibrahim Hamid, Mr. Katheeb Seyed Alaui and Mr. Jalal Khan Sayed Mohamed under the Hong Kong Business Registration Regulations.

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 gemstones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries,

 

Annual Turnover:            Too early to obtain figure.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Too early to comment.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Safa Impex is a partnership jointly owned by Mr. Ibrahim Hamid, Mr. Katheeb Seyed Alaui and Mr. Jalal Khan Sayed Mohamed.  All the partners are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

 

The subject’s registered address is located at 8/F., Howard Building, 44 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  This is the residence of Mr. Katheeb Seyed Alaui.

 

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

 

The subject has no employees in Hong Kong.

 

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds and gem stones.  Commodities are chiefly imported from India.  After processing in Hong Kong or China, finished products are exported to Japan, Taiwan and the other Asian countries.

The business of the subject is handled by the partners.  History in Hong Kong is just over a year.  Business is under development.

Since the registered office of the subject is in a residential building, consider it good for normal business engagements on L/C basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.40

UK Pound

1

Rs.73.26

Euro

1

Rs.65.17

 

 

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.