MIRA INFORM
REPORT
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Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HANS
IMPEX |
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Registered Office : |
Flat K, 5/F., The Harbour Place, Tower 2, 8 Oi King Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.03.2009 |
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Com. Reg. No.: |
50327583-000-03 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Bottom of Form
Company name
HANS IMPEX
Company ADDRESS
Flat K, 5/F., The Harbour Place, Tower 2, 8 Oi King Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2301 4999
FAX: 2301 4998
MANAGEMENT
Manager: Mr. Nikhil Lalit Sheth
SUMMARY
Establishment: 2nd March, 2009.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Flat K, 5/F., The Harbour Place, Tower 2, 8 Oi King Street, Hunghom, Kowloon, Hong Kong.
Associated Companies:-
· L D Sheth (HUF), India.
· Likin Gems Pvt. Ltd., India.
· Viva Int’l Co. (HK) Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
50327583-000-03
MANAGEMENT
Manager: Mr. Nikhil Lalit Sheth
SOLE PROPRIETOR
Name: Mr. Nikhil Lalit SHETH
Residential Address: Flat K, 5/F., The Harbour Place, Tower 2, 8 Oi King Street, Hunghom, Kowloon, Hong
Kong.
HISTORY
The subject was established on 2nd March, 2009 as a sole proprietorship concern owned by Mr. Nikhil Lalit Sheth 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 diamonds and jewellery.
Employees: Nil.
Commodities Imported: India, Belgium, Israel, etc.
Markets: Southeast Asia, North America, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Made a small loss in 2010.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Hans Impex is a sole proprietorship set up and owned by Mr. Nikhil Lalit Sheth who is an Indian.
The subject does not have its own operating office. Located at Flat K on 5/F. of Tower 2, The Harbour Place, 8 Oi King Street, Kowloon, Hong Kong, the subject’s operating office is in the residence of Mr. Nikhil Lalit Sheth in Hong Kong. Business is just fairly active.
Mr. Nikhil Lalit Sheth is operating another firm Viva Int’l Co. (HK) Ltd. [Viva] which is also located at the same address. However, Viva’s registered address is located at a different address.
The subject is engaged in the same lines of business as Viva which was incorporated on 27th April, 2007.
The subject is a diamond importer, exporter and wholesaler. It is trading in loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, jewellery, etc. Raw materials are imported from India, Belgium and other European countries, etc. Some of the raw diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are exported or re-exported to Japan, other Asian countries, North America, Europe, etc.
Currently, it has had two affiliated companies in India, namely, Likin Gems Pvt. Ltd. [Likin Gems] and L D Sheth (HUF).
Likin Gems was established in the year 1958 under the leadership of Mr. Lalit SHETH and the guardianship of his father Mr. D. K. Sheth who was a well renowned character in the diamond business. Now, Likin Gems is run by Mr. Nikhil Lalit Sheth.
D. K. Sheth, father of Nikhil Lalit Sheth, successfully managed the family business of gems, diamonds and jewellery with their manufacturing units in Palanpur, Surat, Ahmedabad and Gujarat District much before the family decided to diversify and also venture into the business of trading in diamonds under the name of Likin Gems founded by Nikhil Lalit Sheth.
Likin Gems is a member of the Gem and Jewellery Export Promotion Council which is a well renowned body for the exports of cut and polished diamonds from India specially promoted by the Government of India and approved by the Reserve Bank of India as well.
The subject’s history in Hong Kong is just over two years and five months.
The subject is fully supported by Likin Gems.
The premises where the subject’s registered office is located is owned by Viva. It has been mortgaged to Hang Seng Bank Ltd. for securing general banking facilities.
On the whole, since the subject does not have its own operating office, history is short and has no employees in Hong Kong, consider it good for business engagements on secured basis.
REMARKS:
Property information
of affiliate:-
Property Location: Flat K on 5/F. of Tower 2, The Harbour Place, 8 Oi King Street, Kowloon, Hong Kong.
Owner: Viva Int’l Co. (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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11-09-2008 |
- |
Hang Seng Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.61 |
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UK Pound |
1 |
Rs.75.32 |
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Euro |
1 |
Rs.65.68 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.