MIRA INFORM REPORT

 

 

Report Date :

25.08.2011

 

IDENTIFICATION DETAILS

 

Name :

KTN  KOLORS

 

 

Registered Office :

Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

11.08.2009

 

 

Com. Reg. No.:

51006201-000-08

 

 

Legal Form :

Partnership

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones, 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 :

Regular

 

 

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 

 

KTN  KOLORS

 

 

company ADDRESS    

 

Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Jinang Chanakya Shah

 

 

SUMMARY

 

Establishment:                          11th August, 2009.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Fairly satisfactory.

company ADDRESS

 

Head Office:-

Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51006201-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Jinang Chanakya Shah

 

 

PARTNERS

 

Name:                           Mr. Jinang Chanakya SHAH

Residential Address:      Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong

Kong.

 

Name:                           Mr. Himanshu Ugrasen GANDHI

Residential Address:      Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 11th August, 2009 as a partnership concern jointly owned by Mr. Jinang Chanakya Shah and Mr. Himanshu Ugrasen Gandhi 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 gemstones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, Taiwan, other Asian countries, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

KTN Kolors is a partnership jointly owned by Mr. Jinang Chanakya Shah and Mr. Himanshu Ugrasen Gandhi, both of whom are Indian.  They are India passport holders and do not have the right to reside in Hong Kong permanently.

The subject’s registered address is located at Flat B, 6/F., Wah Fung Building, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  This is also the residence of Shah and Gandhi when they are in Hong Kong.  The residential building is not trespassed by outsiders.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject has no employees in Hong Kong.

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 range from 0.05 cts to 0.60 cts.  The two partners have got affiliated diamond suppliers in Mumbai, India.  Commodities are chiefly imported from India and other Asian countries.  After processing in Hong Kong or China, finished products are marketed in Hong Kong and exported to Japan, Taiwan and the other Asian countries.  Business is still under development.  The subject is also a commission agent.

Shah and Gandhi are responsible for the business of the subject.  History in Hong Kong is just over a year and six months.

Since the registered office of the subject is in a residential building, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.77

UK Pound

1

Rs.75.58

Euro

1

Rs.65.97

 

 

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.