MIRA INFORM REPORT

 

 

Report Date :           

27.08.2011

 

IDENTIFICATION DETAILS

 

Name :

KWAN  CHEUNG

 

 

Registered Office :

c/o Business Centre, Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

18.10.2007

 

 

Com. Reg. No.:

38510801-000-10

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of ll kinds of diamonds and jewellery products, 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

 

KWAN  CHEUNG

 

 

Company ADDRESS

 

c/o Business Centre

Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Harsh Vinodbhai Vyas

 

 

SUMMARY

 

Establishment:                          18th October, 2007.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

c/o Business Centre

Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

 

Associated Company:-

Sun Sui Co., Hong Kong.  (Same address and same owner)

 

 

BUSINESS REGISTRATION NUMBER

 

38510801-000-10

 

 

MANAGEMENT

 

Manager:  Mr. Harsh Vinodbhai Vyas

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Harsh Vinodbhai VYAS

Residential Address:      1700, Godhuli Opp. Vaibhav Cinema, Near Ambaii Temple, Vallabh Vidya Nagar, Anand,

Gujarat, India.

 

 

HISTORY

 

The subject was established on 18th October, 2007 as a sole proprietorship concern owned by Mr. Harsh Vinodbhai Vyas under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Unit J-2, 8/F., Kaiser Estate, Phase 2, 51 Man Yue Street, Hunghom, Kowloon, Hong Kong, moved to Flat 13B, 13/F., Block B, Ocean View Court, 27A Chatham Road, Tsimshatsui, Kowloon, Hong Kong in early August 2008; to Flat 13C, 13/F., Block C, Winston Mansion, 121-123 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in mid August 2008; and further to the present address in October 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 products, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, 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:                Suffering from a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:  Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Kwan Cheung is a sole proprietorship set up and owned by Mr. Harsh Vinodbhai Vyas who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is also the manager of the subject.

The subject does not have its own operating office.  Its registered office is in a business centre located at Unit M, 2/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.  The business centre is handling its correspondences and documents.  The subject has no employees in Hong Kong.

Business commenced in October 2007.  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, etc.  Commodities are chiefly imported from India.  After processing in Hong Kong or China, finished products are exported to Japan, Taiwan and the other Asian countries.  The subject has got a number of diamond suppliers in India.

Besides operating the subject, Vyas is operating another firm located at the same address known as Sun Sui Co.  Sun Sui Co. and the subject are engaged in the same lines of business.

It is likely that the subject has had an associated company which is also operated by Vyas.  The India firm is trading under the name of the subject.

The subject’s business is chiefly handled by Vyas himself.  History in Hong Kong is just over three years and ten months.

On the whole, consider it good for normal business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.20

Euro

1

Rs.66.48

 

 

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.