MIRA INFORM REPORT

 

 

Report Date :

10.08.2011

 

IDENTIFICATION DETAILS

 

Name :

K  &  V

 

 

Registered Office :

Room 702, 7/F., Multifield Plaza,3 Prat Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.04.2008

 

 

Com. Reg. No.:

39338315-000-04

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

No Complaints

 

 

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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name 

           

K  &  V

 

 

Address

 

Room 702, 7/F., Multifield Plaza,3 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

(Your enquiry given as:

K And V

with former address located at:

Flat 4, 10/F., Hai Phong Mansion,

99-101 Nathan Road, Tsimshatsui,

Kowloon, Hong Kong.     )

 

PHONE:            2301 2030

 

FAX:                 2301 2031

 

 

MANAGEMENT

 

Manager:  Mr. Pyen Yeun Woo

 

 

SUMMARY

 

Establishment:             1st April, 2008.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                    2.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Room 702, 7/F., Multifield Plaza, 3 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

39338315-000-04

 

 

MANAGEMENT

 

Manager:  Mr. Pyen Yeun Woo

 

 

SOLE PROPRIETOR

 

Name:  Mr. PYEN Yeun Woo

Residential Address:      Flat D, 38/F., Mirador Mansion, 54-64B Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st April, 2008 as a sole proprietorship concern owned by Mr. Pyen Yeun Woo under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat D, 38/F., Mirador Mansion, 54‑64B Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1004, 10/F., Hai Phong Mansion, 99-101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in June 2009, and further to the present address in July 2011.

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, etc.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       South Korea, other Asian countries, etc.

 

Terms/Sales:                 As per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Made a small loss in 2009 and 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

K & V is a sole proprietorship set up and solely owned by Mr. Pyen Yeun Woo who is a South Korean.  Pyen is a South Korea passport holder and also a is a Hong Kong ID Card holder who has got the right to reside in Hong Kong permanently.

The subject moved to the present new address in July 2011.

The subject is a diamond and gemstone importer, exporter and wholesaler.  Most of the commodities are imported from India, Europe and other Asian countries.  Prime market is South Korea.

The subject also imports gemstones from other Asian countries such as Thailand, Sri Lanka, etc.  Its business is chiefly handled by Pyen himself.

The subject is made a small loss in 2009 and 2010.  Now, its business is improving.

Pyen has developed business ties with a number of jewellery and diamond wholesalers and retailers in Seoul, South Korea.

On the whole, since the history of the subject in Hong Kong is just three years and three months, consider it good for normal business engagements on L/C basis for the time being.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.17

UK Pound

1

Rs.73.72

Euro

1

Rs.64.26

 

 

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.