MIRA INFORM REPORT

 

 

Report Date :           

24.08.2011

 

IDENTIFICATION DETAILS

 

Name :

PAL  IMPEX  COMPANY

 

 

Registered Office :

Flat B, 18/F., Block 7, Parc Palais, 18 Wylie Road, Ho Man Tin, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.05.2002

 

 

Com. Reg. No.:

32586551-000-05

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of polished 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

 

 Bottom of Form

Company name

 

PAL  IMPEX  COMPANY

 

 

Company ADDRESS

 

c/o K. Girdharlal (Hong Kong) Ltd.

Room 916, 9/F., Peninsula Square, West Wing, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

PHONE:            2311 6551,  2311 6554

FAX:                 2311 6553

 

MANAGEMENT

 

Manager:  Ms. Laxmi Ajesh Shah

 

 

SUMMARY

 

Establishment:                          2nd May, 2002.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   4.  (Including affiliates)

 

Main Dealing Banker:     Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Registered Office:-

Flat B, 18/F., Block 7, Parc Palais, 18 Wylie Road, Ho Man Tin, Kowloon, Hong Kong.

 

Head Office:-

c/o K. Girdharlal (Hong Kong) Ltd.

Room 916, 9/F., Peninsula Square, West Wing, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

 

Affiliated Companies:-

·         Ace Carat Trading Company, Hong Kong.  (Same address)

·         Aspeco NV, Belgium.

·         Diamantina S.A., Luxembourg.

·         K. Girdharlal (Hong Kong) Ltd., Hong Kong.  (Same address)

·         K. Girdharlal Diamonds (India) Pvt. Ltd., India.

·         K. Girdharlal DMCC, UAE.

·         K. Girdharlal Inc., USA.

·         K. Girdharlal International Pvt. Ltd., India.

·         K. Girdharlal International Pvt. Ltd., India.

·         K. Girdharlal, India.

 

 

BUSINESS REGISTRATION NUMBER 

 

32586551-000-05

 

 

MANAGEMENT

 

Manager:  Ms. Laxmi Ajesh Shah

 

 

SOLE PROPRIETOR

 

Name:                           Ms. Laxmi Ajesh SHAH

Residential Address:      Flat C, 10/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 2nd May, 2002 as a sole proprietorship concern owned by Ms. Laxmi Ajesh Shah under the Hong Kong Business Registration Regulations.

At the very beginning, the subject’s registered office was located at Flat C, 10/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 2/F., Block 6, King’s Park Villa, 1 King’s Park Rise, Kowloon, Hong Kong in July 2004; and further moved to the present address in December 2006.  However, the subject’s head office is located at Room 916, 9/F., Peninsula Square, West Wing, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of polished diamonds, etc.

 

Employees:                   4.  (Including affiliates)

 

Commodities Imported:   India, Belgium, etc.

 

Markets:                       Singapore, Thailand, Taiwan, other Southeast Asian countries, US, Belgium, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Hang Seng Bank Ltd., Hong Kong.

 

Standing:                      Small.

 

GENERAL

 

Pal Impex Company is a sole proprietorship set up and owned by Ms. Laxmi Ajesh Shah who is an Indian.

The subject’s registered address is located at Flat B, 18/F., Block 7, Parc Palais, 18 Wylie Road, Ho Man Tin, Kowloon, Hong Kong where is the residential address of Ms. Laxmi Ajesh Shah.  However, the subject has not updated its information filed with the Inland Revenue Department Business Registration Office of the Hong Kong SAR Government.

The subject has got an affiliated company K. Girdharlal (Hong Kong) Ltd. [KGHK], a Hong Kong-registered firm, located at its operating address.  KGHK is chiefly owned by the Shah family.  In fact, Ms. Laxmi Ajesh Shah is also a member of the Shah family.

Engaged in the same lines of business as KGHK, the subject is a diamond importer, exporter and wholesaler.

KGHK is an associate of a major diamond-manufacturing group in Mumbai in India — K. Girdharlal International Pvt. Ltd. [KGIP] — which is a sightholder of the Diamond Trading Company.  In about 2001, KGIP in India took the initiative in diversifying into jewellery manufacturing and exporting its jewellery products.  Now, KGIP is engaged in manufacturing all kinds of cut and polished diamonds.

KGHK enjoys the support of this strong production capacity of fine-make diamonds and continues to focus its efforts on marketing loose diamonds and upgrading services to its customers in Southeast Asia.  KGHK exports its products to the Asian countries and has formed a strategic alliance with a well-established diamond wholesaler in China.  Sales offices have been set up in Shenzhen Special Economic Zone, Shanghai and Beijing.

KGHK has upgraded the craftsmanship and skills of its workers as well as polishing equipment at its factories in India.  It is supplying diamonds of fine make, which include quite substantial quantities of hearts-and-arrows diamonds, to its customers regularly.  Prime markets are the Greater China region, Singapore, Malaysia and Indonesia.  Business is rather active.

Now, KGIP has set up offices in Dubai, New York, Antwerp, etc.  KGIP is the main supplier of the subject.

The subject markets its products in Hong Kong, exported to China, Japan and the other Asian countries,  Business is rather active.

The subject is supported by KGIP and ultimately by the Shah family.  History in Hong Kong is over nine years and three months.

On the whole, consider the subject good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.69

UK Pound

1

Rs.75.29

Euro

1

Rs.65.77

 

 

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.