MIRA INFORM REPORT

 

 

Report Date :

21.12.2011

 

IDENTIFICATION DETAILS

 

Name :

HARSH  UNIVERSAL  (HK)  LTD.

 

 

Registered Office :

Room 1204, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

04.08.2008

 

 

Com. Reg. No.:

39641134

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds, etc.

 

 

No. of Employees :

2.

 

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 :

Moderate

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

HARSH  UNIVERSAL  (HK)  LTD.

 

 

ADDRESS:       Room 1204, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                        6227 7648,  9525 5068

 

FAX:                 2721 5677

 

 

MANAGEMENT

 

Managing Director:  Mr. Mansukhlal Shambhubhai Vamja

 

 

SUMMARY

 

Incorporated on:             4th August, 2008.

 

Organization:                  Private Limited Company.

 

Capital:                         Nominal:           HK$100,000.00

Issued:              HK$100,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Registered Head Office:-

Room 1204, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Holding Company:-

Vamja Exports

303, Hariom Apartment, Opposite Ramnagar, A.K. Road, Varachha, Surat, Gujrat-395 006, India.

[Tel: 91-261-2556226;  Fax: 91-261-2556227]

 

 

BUSINESS REGISTRATION NUMBER

 

 39641134

 

 

COMPANY FILE NUMBER

 

1261898

 

 

MANAGEMENT

 

Managing Director:  Mr. Mansukhlal Shambhubhai Vamja

Contact Person:  Mr. Niesh Narodiya

 

 

CAPITAL

 

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$100,000.00

 

 

SHAREHOLDER

(As per registry dated 04-08-2011)

 

Name

 

No. of shares

Vamja Exports

303, Hariom Apartment, Opposite Ramnagar, A.K. Road, Varachha, Surat, Gujrat-395 006, India.

 

100,000

======

 

DIRECTOR    

(As per registry dated 04-08-2011)

 

Name

(Nationality)

 

Address

Mansukhlal Shambhubhai VAMJA

168, Ankur Society, Ashwani Kumar Road, Varachha, Surat, Gujrat-395006, India.

 

 

SECRETARY

(As per registry dated 04-08-2011)

 

Name

Address

Co. No.

CBS Pacific Ltd.

8A, Kam Chung Commercial Building, 19‑21 Hennessy Road, Wanchai, Hong Kong.

0582043

 

 

HISTORY

 

The subject was incorporated on 4th August, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

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, etc.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, Europe, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, North America, Western Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:                 HK$100,000.00

 

Profit or Loss:                            Making a small profit in 2010.

 

Condition:                                  Keeping in a normal manner.

 

Facilities:                                  Making rather active use of general banking facilities.

 

Payment:                                  Met trade commitments as required.

 

Commercial Morality:                 Satisfactory.

 

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

 

Standing:                                  Small.

 

 

GENERAL

 

Harsh Universal (HK) Ltd. is a wholly-owned subsidiary of Vamja Exports which is an India-based firm.

The only director of the subject Mr. Mansukhlal Shambhubhai Vamja is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject is a loose diamond trader.  It is trading in all kinds of loose diamonds, polished colour diamonds and fancy diamonds which are imported from India, other Asian countries, and Europe.  Products are exported to worldwide countries.  Business is normal.

According to the subject, it is able to provide customers with a variety of diamonds in different carats, cuts and colours.

It is worthwhile to note that Vamja Exports is trading in home appliances.  Established in 1991, Vamja Exports has been rapidly advancing in the field of kitchen and home appliances.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 16th to 20th February, 2012.

The contact person of the subject Mr. Niesh Narodiya. is also an Indian.

 

As the history of the subject is over three years and four months in Hong Kong, on the whole, consider it good for normal business engagements in small credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.03

UK Pound

1

Rs.82.34

Euro

1

Rs.68.99

 

 

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.