MIRA INFORM REPORT

 

 

Report Date :

10.01.2011

 

IDENTIFICATION DETAILS

 

Name :

BALAJI  EXPORT

 

 

Registered Office :

Flat 3, 9/F., Block A, Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong  

 

 

Date of Incorporation :

20.01.2010

 

 

Com. Reg. No.:

51704863-000-01

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

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

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

New Concern

 

 

Payment Behaviour :

Unknown

 

 

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

 

BALAJI  EXPORT

 

 

company ADDRESS

 

Flat 3, 9/F., Block A, Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Dilip Kumar Sen

 

 

SUMMARY

 

Establishment:                          20th January, 2010.

 

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:           Too early to comment.

company ADDRESS

 

Head Office:-

Flat 3, 9/F., Block A, Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

51704863-000-01

 

 

MANAGEMENT

 

Manager:  Mr. Dilip Kumar Sen

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Dilip Kumar SEN

Residential Address:      Village Bara Asan Post Bari, Via Bijainagar District, Ajmer, Rajasthan 305624, India.

 

 

HISTORY

 

The subject was established on 20th January, 2010 as a sole proprietorship concern owned by Mr. Dilip Kumar Sen under the Hong Kong Business Registration Regulations.

Initially the subject was located at 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong where is the operating address of C. L. Liu & Company which is an accountant firm, moved to the present address in July 2010.

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, etc.

 

Markets:                                  Hong Kong, other Asian countries, etc.

 

Annual Turnover:                        Too early to obtain figure.

 

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

 

Terms/Buying:                           L/C.

 

 

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:                                  Unknown 

 

Commercial Morality:                 Too early to comment.

 

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

 

Standing:                                  Small.

 

 

GENERAL

 

Balaji Export is a sole proprietorship set up and owned by Mr. Dilip Kumar Sen 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 telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject’s registered address is located at Flat 3, 9/F., Block A, Pacific Building, 65-67 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that Sen has moved to this new address but does not make any amendments on the subject’s registration materials.  It seems that the subject’s operating address is also Sen’s residential address when he is in Hong Kong.  The residential building is not trespassed by outsiders.

The subject is a diamond importer, exporter and wholesaler.  It is trading in single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc.  Most of the commodities, chiefly loose white and colour diamonds, are imported from India and Europe.  Prime markets are Hong Kong, Japan and the other Asian countries.

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

Since the history of the subject is just over nine months 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.70.38

Euro

1

Rs.58.93

 

 

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%)

 

 

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.