MIRA INFORM
REPORT
|
Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
HEARTS
& ARROWS LTD |
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Registered Office : |
6/F., Tung Fai Building, 27-27A Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.05.2008 |
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Com. Reg. No.: |
39283350 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of All kinds of diamonds and jewellery products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Hong Kong |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
HEARTS & ARROWS
LTD.
Company ADDRESS
6/F., Tung Fai Building, 27-27A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2367 3060
FAX: 2367 1162
MANAGEMENT
Managing Director: Mr. Romil Devendrabhai Shah
SUMMARY
Incorporated on: 9th May, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$2,200,000.00
Business Category: Jewellery Trader.
Employees: 8. (Including affiliate)
Main Dealing Banker: Dah Sing Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
6/F., Tung Fai Building, 27-27A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Company:-
A. K. Export, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
39283350
COMPANY FILE NUMBER
1236191
MANAGEMENT
Managing Director: Mr. Romil Devendrabhai Shah
CAPITAL
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,200,000.00
SHAREHOLDERS
(As per registry
dated 09-05-2011)
|
Name |
|
No. of shares |
|
Romil Devendrabhai SHAH |
|
1,000,000 |
|
Sumitkumar Dineshchandra SHAH |
|
1,200,000 |
|
|
|
–––––––– |
|
|
Total: |
2,200,000 ======= |
DIRECTORS
(As per registry
dated 09-05-2011)
|
Name (Nationality) |
Address |
|
Romil Devendrabhai SHAH |
Flat B, 9/F., Rear Portion, A Kun Lock Building, 178 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. |
|
Sumitkumar Dineshchandra SHAH |
Flat A, 13/F., Southsea Mansion, 81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 09-05-2011)
|
Name |
Address |
Co.
No. |
|
Wilson Business Administration Ltd. |
Room 1406 & 1412, 14/F., 655 Nathan Road, Mongkok, Kowloon, Hong Kong. |
0143657 |
HISTORY
The subject was incorporated on 9th May, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered office was located at Unit A, 16/F., Brilliant Coaurt, 78 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong, moved to combine with its current head office at the present address in May 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 and jewellery products.
Employees: 8. (Including affiliate)
Commodities Imported: India, Belgium, other Asian countries, etc.
Markets: Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,200,000.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 1,000,000.00 |
|
26-11-2010 |
paid up |
HK$ 1,200,000.00 |
|
|
|
––––––––––––––– |
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Total: |
paid up |
HK$ 2,200,000.00 ============== |
Profit or Loss: Making a small profit in 2010.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Dah Sing Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Incorporated in 9th May, 2008 and having issued 1 million ordinary shares of HK$1.00 each, Hearts & Arrows Ltd. was wholly-owned by Mr. Romil Devendrabhai Shah who was an Indian residing in Navsari, Gujarat, India.
Subsequently, the subject had issued 1.2 million ordinary shares more, also of HK$1.00 each, which all were allotted to Mr. Sumitkumar Dineshchandra Shah. Now, the subject is jointly owned by the two Shahs while the former is holding 45.5%, the latter, holding 54.5%. The two Shahs are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
The subject has got an associated company A. K. Export located at the subject’s operating address. A. K. Export and the subject are engaged in the same lines of business. A. K. Export is owned by Mr. Atul Shah and Mr. Pradip Nagindas Shah. The two partners, including R. D. Shah of the subject, belong to the Shah family.
The subject is a diamond and jewellery product trader. Rough diamonds are imported from India, Belgium and other European countries, etc. Some of the commodities are polished diamonds while some of the rough diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are marketed in Hong Kong, exported or re-exported to Japan, India and other Asian countries. Business is improving.
The subject’s another director Sumitkumar Dineshchandra Shah was in Japan for a rather long time. Now, he is residing in Hong Kong. However, he is still responsible for distributing the subject’s products in Japan.
The subject’s business is chiefly handled by the shareholders of the subject. Business is improving.
Since the history of the subject is over three years and two months, on the whole, consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.05 |
|
UK Pound |
1 |
Rs.72.40 |
|
Euro |
1 |
Rs.63.46 |
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 |
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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.