MIRA INFORM REPORT

 

 

Report Date :           

18.08.2011

 

IDENTIFICATION DETAILS

 

Name :

WHITE  STARS  LTD.

 

 

Registered Office :

Room 804, 8/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.07.2008

 

 

Com. Reg. No.:

39547421

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery.

 

 

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

 

 Bottom of Form

 

Company name

 

WHITE  STARS  LTD.

 

 

Company ADDRESS

 

Room 804, 8/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2366 6054

FAX:                 2366 6055

 

 

MANAGEMENT

 

Managing Director:  Mr. Vipul Suresh Shah

 

 

SUMMARY

 

Incorporated on:             10th July, 2008.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$3,000,000.00

Issued:              HK$1,500,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 804, 8/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

39547421

 

 

COMPANY FILE NUMBER

 

1255031

 

 

MANAGEMENT

 

Managing Director:  Mr. Vipul Suresh 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$1,500,000.00

 

 

SHAREHOLDER

(As per registry dated 10-07-2011)

 

Name

 

No. of shares

Vipul Suresh SHAH

 

1,500,000

=======

 

 

DIRECTORS

(As per registry dated 10-07-2011)

 

Name

(Nationality)

 

Address

Vipul Suresh SHAH

Flat A3, 13/F., Burlington House, 90-94 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

Priti Vipul SHAH

   [Reserve Director]

Flat A3, 13/F., Burlington House, 90-94 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 10-07-2011)

 

Name

Address

Bayani Divino Bautista PONCE

Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung, Lantau Island, Hong Kong.

 

 

HISTORY

 

The subject was incorporated on 10th July, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject moved to the present address in February 2009.

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.

 

Employees:                   2.

 

Commodities Imported:   India, Europe, 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$1,500,000.00

 

Indebtedness:                HK$1,491,637.50  (Total amount outstanding on all mortgages and charges as per last

Annual Return dated 10-07-2011)

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Kept a balance account in 2010.

 

Condition:                      Business is improving.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

White Stars Ltd. is wholly-owned by Mr. Vipul Suresh Shah who is an Indian.  He is also the director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  The reserve director of the subject is Mr. Priti Vipul Shah who is also an Indian.

The subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing and marketing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds.  Most of the commodities are imported from India and Europe.  Prime markets are Hong Kong, Japan and the other Asian countries.  Business is normal.

The subject’s business is chiefly handled by Vipul Suresh Shah himself.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.

It is going to take part in “Hong Kong International Jewellery Show” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2011.

As the history of the subject in Hong Kong is just over three years and a month, consider it good for normal business engagements in small credit amounts.

 

REMARKS:

 

Property information of the company:-

Property Location:              Office E on 12/F., Cheung Lee Commercial Building,
                                        25 Kimberley Road, Kowloon, Hong Kong.

Owner:  White Stars Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

30-09-2008

-

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

Mortgage to secure general banking facilities

 

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

30-09-2008

Instrument:      Mortgage

Property:

2/263rd parts or shares of and in Kowloon Inland Lot No. 7420 (Office E on 12/F. of Cheung Lee Commercial Building, 25 Kimberley Road, Kowloon, Hong Kong.)

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

All moneys

30-09-2008

Instrument:      Rent Assignment

Property:

2/263rd parts or shares of and in Kowloon Inland Lot No. 7420 (Office E on 12/F. of Cheung Lee Commercial Building, 25 Kimberley Road, Kowloon, Hong Kong.)

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

All moneys

18-09-2008

Instrument:      Assignment of Receivables – General with Notice of Assignment

Property:

In consideration of the Banking Facilities, the Customer, as beneficial owner and by way of security for the payment of the Secured Monies, hereby assigns, and agrees to assign, to the Bank the Receivables until all the Secured Monies have been paid or discharged

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

To secure all monies in respect of banking facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.74.56

Euro

1

Rs.65.34

 

 

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.