MIRA
INFORM REPORT
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Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
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Name : |
VIBRANT INTERNATIONAL |
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Registered Office : |
C/o Akin CPA Ltd. 20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.11.2011 |
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Com. Reg. No.: |
58643814-001-07 |
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Legal Form : |
Proprietorship Concern Owned By Supreme Base Corporation Limited |
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LINE OF BUSINESS : |
DIAMOND
IMPORTER, EXPORTER AND WHOLESALER |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong
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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 |
Company name and
address
VIBRANT INTERNATIONAL
(Operated by SUPREME BASE CORPORATION LTD.)
Address:
c/o Akin CPA Ltd.
20/F., Champion Building,
287-291 Des Voeux Road Central,
Sheung Wan, Hong Kong.
[Tel: 2541 4224; Fax: 2541 4225]
Sister Company:-
Star Line International, Hong Kong. (Same address)
[Also established on 14th November, 2011 and solely owned by Supreme Base
Corporation Ltd. under BR No. 58643814-002-07]
BUSINESS REGISTRATION NUMBER
58643814-001-07
ESTABLISHMENT
14th November, 2011.
MANAGEMENT
Manager: Mr. Arvind Kumar Soni
SOLE OWNER
Supreme Base Corporation Ltd., Hong Kong. (See attachment)
GENERAL
Vibrant International was established on 14th November, 2011 as one of
the business names of Supreme Base Corporation Ltd. [Supreme Base] which was
incorporated on 11th July, 2011. Supreme
Based is a private limited liability company set up under the Hong Kong
Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 20/F., Champion Building, 287-291 Des Voeux Road
Central, Sheung Wan, Hong Kong known as Akin CPA Ltd. [Akin] which is handling
its correspondences and documents. This
firm is also the corporate secretary of Supreme Based.
The subject has no employees in Hong Kong.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong, moved to the
present address with effect from 14th November, 2011.
Supreme Base has another business name known as Star Line International.
According to the Companies Registry of Hong Kong, Supreme Base has
issued just one ordinary share of HK$1.00 which is owned by Company Kit
Secretarial Services Ltd. which is also a commercial service provider in
Hong Kong. The director of Supreme
Base Arvind Kumar Soni is an Indian. He
is also the only director of Supreme Base.
He is an India passport holder and does not have the right to reside in
Hong Kong permanently. Soni is also the
manager of the subject.
The subject’s lines of business are unknown since the secretarial firm
declined to divulge any information about it.
It is likely that the subject is a diamond importer, exporter and
wholesaler. It is trading in loose,
polished and cut diamonds. Most of the
commodities are imported from India.
Prime markets are Hong Kong, Japan and the other Asian countries. Business is still under development.
The manager of the subject cannot be reached as he is in India.
It is likely that the subject has got an affiliated company in India
which is operated by Soni, however, details are unknown.
The India firm is doing business with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong.
The subject’s history in Hong Kong is just about a month.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on fully
secured terms.
Company name and address
SUPREME BASE CORPORATION
LTD.
(Business names: VIBRANT INTERNATIONAL and STAR LINE INTERNATIONAL)
ADDRESS:
c/o Akin CPA Ltd.
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong.
BUSINESS REGISTRATION NUMBER
58643814-000-07
COMPANY FILE NUMBER
1629395
DATE OF INCORPORATION
11th July, 2011.
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
SHAREHOLDER
(As per registry dated 11-07-2011)
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Name |
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No. of share |
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Company Kit Secretarial Services Ltd., Hong Kong. |
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1 = |
DIRECTOR
(As per registry dated 14-11-2011)
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Name (Nationality) |
Address |
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Arvind Kumar SONI |
Azad Mohalla, VPO-Bijai Nagar-305624, Distt - Ajmer, Rajasthan, India. |
SECRETARY
(As per registry dated 14-11-2011)
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Name |
Address |
Co. No. |
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Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong. |
1273165 |
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of themselves
made money from these businesses but their diamond companies have gone sick and
declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.39 |
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|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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 |
-- |
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.