MIRA INFORM REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
IN
COLLECTION LTD. |
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Registered Office : |
Room 901, 9/F., Harbour Centre, Tower 2, |
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Country : |
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Date of Incorporation : |
15.11.2005 |
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Com. Reg. No.: |
36196746 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
IN COLLECTION
LTD.
Company ADDRESS
Room 901, 9/F., Harbour Centre, Tower 2,
PHONE: 2311 3011
FAX: 2311 1167
E-MAIL: info@incollectiondiam.com
MANAGEMENT
Managing Director: Mr. Kamlesh
Jivanbhai Shah
SUMMARY
Incorporated on: 15th November, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$7,000,000.00
Issued: HK$7,000,000.00
Business Category: Diamond
Trader.
Annual Turnover: HK$42~47 million.
Employees: 7. (Including associated company)
Main Dealing Banker: Bank of
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 901, 9/F., Harbour Centre, Tower 2,
Associated Company:-
In Collection, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
36196746
COMPANY FILE NUMBER
1007854
MANAGEMENT
Managing Director: Mr. Kamlesh Jivanbhai Shah
CAPITAL
Nominal Share Capital: HK$7,000,000.00 (Divided into 7,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,000,000.00
SHAREHOLDER
(As per registry dated 15-11-2010)
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Name |
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No. of shares |
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Kamlesh Jivanbhai SHAH |
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7,000,000 ======= |
DIRECTOR
(As per registry dated 15-11-2010)
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Name (Nationality) |
Address |
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Kamlesh Jivanbhai SHAH |
Flat 901, 9/F., Harbour Centre, Tower 2, 8 Hok Cheung Street, Hung
Hom, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 15-11-2010)
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Name |
Address |
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World Link Business Services
Ltd. |
5/F., |
746596 |
HISTORY
The subject was incorporated
on 15th November, 2005 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 and jewellery products, emerald, precious stones, etc.
Employees: 7. (Including associated company)
Commodities Imported:
Markets: Hong Kong, other Asian
countries, North America,
Annual Turnover: HK$42~47 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$7,000,000.00 (Divided into 7,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Bank
of
Standing: Small.
GENERAL
Having issued 7 million
ordinary shares of HK$1.00 each, In Collection Ltd. is wholly owned by Mr. Kamlesh
Jivanbhai Shah who is an Indian. He is a
Hong Kong ID Card holder and has got the right to reside in
The subject has had an
associated company In Collection located at its operating address. In Collection is also operated and owned by
Shah.
Business commenced in June
2001, In Collection is a sole proprietorship set up and owned by Shah.
The subject is a jewellery
and diamond trader. It is engaged in
manufacturing, importing and exporting all kinds of jewellery products. It mainly produces 14K and 18K gold
jewellery accented with gemstones, diamonds, sapphires, emeralds, pearls and
semi-precious stones. It is trading in
diamond bracelets, diamond brooches, earrings, necklaces, diamond rings, pendants,
etc. Rough diamonds, cut and polished
diamonds are imported from
In order to penetrate the
international market further, In Collection has taken part in fairs and
exhibitions held in
HKIJS is organized by Hong
Kong Trade Development Council in
In Collection is a member of
The Indian Chamber of Commerce Hong Kong and Hong Kong Jewelry Manufacturers’
Association,
It was reported that the
subject had got an affiliated factory in
The annual sales turnover of
the subject and In Collection ranges from HK$42 to 47 million. Making a small profit every year.
The subject’s business is
chiefly handled by Shah himself.
As the history of the
subject in
COURT CASES: None
per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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05-01-2011 |
Instrument: Letter
of Lien Property: Date of Deposit: 10.01.2011 Mortgagee: Bank
of |
HK$10,000,000 |
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05-01-2011 |
Instrument: General
Letter of Hypothecation Property: Bills of exchange, and/or invoices, or any other
documents representing or relating to goods.
The company agree that the same and all goods thereby represented or
to which the document relate shall be hypothecated by way of first charge as
a continuing security for all sums in which the company from time to time be
actually or contingently indebted or liable to bank on any account. Mortgagee: Bank
of |
All the money
now granted by the Bank and the Company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.11 |
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1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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 |
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.