MIRA INFORM REPORT

 

 

Report Date :           

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

R  COMPANY  HK

 

 

Registered Office :

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

08.04.2011

 

 

Com. Reg. No.:

53904851-000-04

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

----

 

 

Litigation :

----

 

 

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

 

 Bottom of Form

Company name 

 

R  COMPANY  HK

 

 

Company ADDRESS    

 

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2312 2146

FAX:                 8266 5915

 

 

MANAGEMENT

 

Manager:  Mr. Niraj Pravinbhai Shah

 

 

SUMMARY

 

Establishment:                          8th April, 2011.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Too early to comment.

Company ADDRESS

 

Head Office:-

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Companies:-  (Same owner)

 

3 Lions HK

Room 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong.

 

BKK Gems

Flat C, 12/F., Po Lok Mansion, 150-164 Woosung Street, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

53904851-000-04

 

 

MANAGEMENT

 

Manager:  Mr. Niraj Pravinbhai Shah

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Niraj Pravinbhai SHAH

Residential Address:      Flat No. 208, B Wing, 2/F., Trishala Apartment, Devachand Nagar, 60 Feet Road,

Bhayander (W), Thane, Mumbai, India.

 

 

HISTORY

 

The subject was established on 8th April, 2011 as a sole proprietorship concern owned by Mr. Niraj Pravinbhai Shah 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 gemstones, diamonds, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, other Asian countries, etc.

 

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

 

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

 

R Company HK is a sole proprietorship set up and owned by Mr. Niraj Pravinbhai Shah who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a residential building at Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.  This address also seems to be the residential address of Shah when he is in Hong Kong.  The residential building is not trespassed by outsiders.

The subject has no employees in Hong Kong.

The subject is a diamond and gemstone importer, exporter and wholesaler.  It is also a commission agent.  Its commodities are chiefly imported from India and other Asian countries.  Products are marketed in Hong Kong and exported to the other Asian countries such as Japan.  Business is still under development.

Besides operating the subject, Shah is operating another firm known as BKK Gems which was established on 15th August, 2009.  This firm is also a diamond trader and located at a different address.

One more firm known as 3 Lions HK is also operated by Shah.  3 Lions HK does not have its own operating office.  Its registered office is in a commercial service firm located at Room 605, 6/F., Stag Building, 148‑150 Queen’s Road Central, Hong Kong known as KNG Consultants.  Established on 8th April, 2011, 3 Lions HK is also a diamond trader.

Business handled by Shah himself, the subject is a one-man company.

Since the history of the subject is just over four months in Hong Kong, on the whole, consider it good for normal business engagements on secured basis.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.25

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.