MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
MOMENTUM TRADING CO. |
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Registered Office : |
Room F, 13/F., |
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Country : |
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Date of Incorporation : |
24.04.2008 |
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Com. Reg. No.: |
39203500-000-04 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer, Exporter and Wholesaler of all Kinds of Ruby, Emerald and Sapphire, Etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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
MOMENTUM TRADING CO.
Company ADDRESS
Room F, 13/F.,
Formerly located at:- Room 1104-6, 11/F.,
5-11 Granville Circuit, Tsimshatsui,
PHONE: 2722 4443
FAX: 2368 8963
E-MAIL: info@houseofjewel.com
MANAGEMENT
Manager: Mr. Bharat Gulabrai Daswani
SUMMARY
Establishment : 24th April, 2008.
Organization : Sole Proprietorship.
Capital : Not disclosed.
Business Category : Ruby & Gemstone Trader.
Employees : 2.
Main Dealing Banker :
The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation : Satisfactory.
Company ADDRESS
Head Office:-
Room F, 13/F.,
Associated Company:-
House of Jewels, Hong Kong. (Same
address)
BUSINESS REGISTRATION NUMBER
39203500-000-04
MANAGEMENT
Manager: Mr. Bharat Gulabrai Daswani
SOLE PROPRIETOR
Name : Mr. Bharat Gulabrai DASWANI
Residential
Address : 12/F., Block A,
HISTORY
The
subject was established on 24th April, 2008 as a sole proprietorship concern
owned by Mr. Bharat Gulabrai Daswani under the Hong Kong Business
Registration Regulations.
Formerly
the subject was located at Room 1104-6, 11/F.,
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities : Importer, Exporter and Wholesaler.
Lines : All kinds of ruby, emerald and sapphire, etc.
Employees : 2.
Commodities Imported :
Markets :
Terms/Sales :
L/C or as per contracted.
Terms/Buying :
L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital : Not disclosed.
Profit or Loss : Making a small profit.
Condition : Keeping in a satisfactory 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.,
Standing : Small.
GENERAL
Momentum
Trading Co. is a sole proprietorship set up and owned by Mr. Bharat
Gulabrai Daswani who is an Indian. He is
a Hong Kong ID Card holder and has got the right to reside in
The
subject commenced business in April 2008.
Besides operating the subject, Daswani is operating another firm known
as House of Jewels, a Hong Kong-registered firm located at the same
operating address of the subject. The
subject and House of Jewels are engaged in the same lines of business, more or
less. House of Jewels commenced business
in
House
of Jewels is specialized in loose diamonds range from 0.3 pts up and 18 K
diamond and gemstone jewellery.
The
subject is trading in the following precious stones:
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Ruby (from
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Sapphire (from Ceylon &
Kanchanapuri)
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Emeralds (from Columbus &
Zambia)
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Fancy Sapphire
Finished
products include bracelets, brooches, earrings, necklaces, rings, pendants,
etc. Most of the products are marketed
in Hong Kong, exported to Eastern and
House
of Jewels has had an affiliated factory in
The
businesses of the subject and House of Jewels are chiefly handled by Daswani
himself.
Since
the history of House of Jewels in
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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1 |
Rs.73.16 |
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Euro |
1 |
Rs.61.88 |
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 Company |
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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.