MIRA INFORM REPORT

 

 

Report Date :

16.08.2011

 

IDENTIFICATION DETAILS

 

Name :

LOTUS  STAR  LTD.

 

 

Registered Office :

Room 1201, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.07.2009

 

 

Com. Reg. No.:

50881543

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

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

Usually Correct

 

 

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  and address

 

LOTUS  STAR  LTD.

 

 

ADDRESS:       Room 1201, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            3175 5343

 

 

MANAGEMENT

 

Managing Director:  Mr. Prit Saileshbhai Savani

 

 

SUMMARY

 

Incorporated on:             10th July, 2009.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$1,000,000.00

Issued:              HK$1,000,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

 ADDRESS

 

Registered Head Office:-

Room 1201, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

50881543

 

 

COMPANY FILE NUMBER 

 

1352271

 

 

MANAGEMENT

 

Managing Director:  Mr. Prit Saileshbhai Savani

 

 

CAPITAL

 

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$1,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 10-07-2010)

 

Name

 

No. of shares

Prit Saileshbhai SAVANI

 

500,000

Shail Vijay SHAH

 

500,000

 

 

––––––––

 

Total:

1,000,000

=======

 

DIRECTOR

(As per registry dated 10-07-2010)

 

Name

(Nationality)

 

Address

Prit Saileshbhai SAVANI

Room 5, Flat A, 4/F., South Sea Apartments, 81 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 10-07-2010)

 

Name

Address

Bayani Divino Bautista PONCE

13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 10th July, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Unit A, 16/F., Brilliant Court, 78 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong, moved to Unit E2, 6/F., Summit Building, 30 Man Yue Street, Hunghom, Kowloon, Hong Kong with effect from 9th October, 2009.  It moved to the present address in early 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 and jewellery products, etc.

 

Employees:                   2.

 

Commodities Imported:   India, Europe, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, Taiwan, Middle East, 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$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

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

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active 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

 

Having issued 1 million ordinary shares of HK$1.00 each, Lotus Star Ltd. formerly was wholly-owned by Sujalkumar Kerulbhai Mehta who was an Indian.  Now, it is equally owned by Mr. Prit Saileshbhai Savani and Mr. Shail Vijay Shah.  Currently, the latter is residing in Mumbai, India.

Residing in Hong Kong, Savani is the only director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject has moved to the present address since early 2011.

The subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds.  Most of the commodities are imported from Mumbai, India.  Prime markets are Hong Kong, Japan, Taiwan, other Asian countries, the Middle East,  etc.  Business is still under development.

Shah has had a number of affiliated diamond suppliers in Mumbai so that he is responsible for the supplying of the commodities to the subject.

The individual secretary of the subject Bayani Divino Bautista Ponce is also an Indian who is a Hong Kong ID card holder.  To our knowledge, Ponce is one of the directors of a Hong Kong-registered firm Facets Hong Kong Ltd., and is also the secretary of a number of Indian firms in Hong Kong.

Since the history of the subject in Hong Kong is just over two years and a month, on the whole, 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.45.37

UK Pound

1

Rs.73.53

Euro

1

Rs.64.36

 

 

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.