MIRA INFORM REPORT

 

 

Report Date :

26.02.2011

 

IDENTIFICATION DETAILS

 

Name :

GRAFTON  (HK)

 

 

Registered Office :

Flat A, 7/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong  

 

 

Date of Incorporation :

28.09.2009

 

 

Com. Reg. No.:

51211274-000-09

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler all 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 :

New Concern

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

GRAFTON  (HK)

 

 

company ADDRESS    

 

Flat A, 7/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:                  Not available

FAX:                       Not available

 

 

MANAGEMENT

 

Manager:  Mr. Trikam Tul Shibhai Savani

 

 

SUMMARY

 

Establishment:        28th September, 2009.

 

Organization:           Sole Proprietorship.

 

Capital:                   Not disclosed.

 

Business Category:  Diamond Trader.

 

Employees:             Nil.

 

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

 

Banking Relation:     Satisfactory.

 

 

company ADDRESS

 

Head Office:-

Flat A, 7/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

51211274-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Trikam Tul Shibhai Savani

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Trikam Tul Shibhai SAVANI

Residential Address:      Bhart Nivas, Bapu Vashi Road, Block No. A20, Vileparle (W), Mumbai, India.

 

 

HISTORY

 

The subject was established on 28th September, 2009 as a sole proprietorship concern owned by Mr. Trikam Tul Shibhai Savani 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 jewellery products, etc.

 

Employees:             Nil.

 

Commodities Imported: India, Europe, etc.

 

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

 

Annual Turnover:      Too early to obtain figure.

 

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

 

Grafton (HK) is a is a sole proprietorship set up and owned by Mr. Trikam Tul Shibhai Savani who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject’s registered address is located at Flat A, 7/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that this is the residential address of Savani when he is in Hong Kong.  The residential building is not trespassed by outsiders.

Business commenced in September 2009, the subject is a diamond trader.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds which are over 0.05 cts.  Most of the diamonds are imported from India.  To our knowledge, Savani has got affiliated suppliers in Mumbai, India.  Prime markets are Hong Kong, Japan, other Asian countries, etc.  Business is still under development.

Business handled by Savani himself, the subject is just a one-man company.

Since the history of the subject is just about a year in Hong Kong, consider it good for normal business engagements on L/C basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

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

 

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.