MIRA
INFORM REPORT
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Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
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Name : |
VEER ENTERPRISES |
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Registered Office : |
Room 906, 9/F., |
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Country : |
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Date of Incorporation : |
25.04.2006 |
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Com. Reg. No.: |
36674968-000-04 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer, Exporter and Wholesaler of all
kinds of diamonds and jewellery, 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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
VEER ENTERPRISES
ADDRESS
Room 906, 9/F.,
PHONE: 2723 2313
MANAGEMENT
Manager: Mr. Kirit Jayantilal
Morakhia
SUMMARY
Establishment: 25th April, 2006.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 906, 9/F.,
BUSINESS REGISTRATION NUMBER
36674968-000-04
MANAGEMENT
Manager: Mr. Kirit Jayantilal
Morakhia
PARTNERS
Name: Mr. Kirit Jayantilal
MORAKHIA
Residential Address: Block C,
8/F.,
Name: Ms. Harshaben Kiritbhai
MORAKHIA
Residential Address: Block C,
8/F.,
Name: Mr. Rahul Kiritbhai
MORAKHIA
Residential Address: Block C,
8/F.,
HISTORY
The subject was established on 25th April, 2006 as a partnership concern
jointly owned by three Indians under the Hong Kong Business Registration
Regulations.
The following table shows the partners and their incoming dates:-
|
Name |
Incoming Date |
Outgoing Date |
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Kirit Jayantilal MORAKHIA |
25-04-2006 |
- |
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Harshaben Kiritbhai MORAKHIA |
25-04-2006 |
- |
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Rahul Kiritbhai MORAKHIA |
01-01-2008 |
- |
Initially the subject was located at Block C, 8/F., Camma Building,
16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address in March 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, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making a small profit in 2009.
Condition: Business
has been normal.
Facilities: Trying
to make use of general banking facilities.
Payment:
Unknown.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Veer Enterprises is a partnership set up on 25th April, 2006 and jointly
owned by three Indians. All the partners
belong to the Morakhia family. Each of
them is holding an
The subject moved to the present address in March 2010. Its old registered address located at Block
C, 8/F., Camma Building, 16 Cameron Road, Tsimshatsui, Kowloon, Hong Kong is
also the residential address of the partners.
The subject is trading in loose diamonds, emerald, precious stones, ruby
jade, gem sets, semi-precious stones, blue or coloured sapphire, etc. Loose, cut and polished diamonds are imported
from
The subject is a three-man company.
Kept a balance account in 2009.
The history of the subject is over four years and eight months in
On the whole, consider the subject good for normal business engagements
in small credit amounts.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.32 |
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|
1 |
Rs.70.54 |
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Euro |
1 |
Rs.58.70 |
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 |
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NB |
New Business |
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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.