MIRA INFORM REPORT

 

 

Report Date :

17.01.2011

 

IDENTIFICATION DETAILS

 

Name :

AGELESS  ENTERPRISES

 

 

Registered Office :

Flat F, 11/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.02.2010

 

 

Com. Reg. No.:

51835886-000-02

 

 

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 :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

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

 

AGELESS  ENTERPRISES

 

 

Company ADDRESS    

 

Flat F, 11/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            8135 1343

FAX:                 3914 6726

 

 

MANAGEMENT

 

Manager:  Mr. Shailesh Ganmal Jain

 

 

SUMMARY

 

Establishment:                          22nd February, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Fairly satisfactory.

 

company ADDRESS

 

Head Office:-

Flat F, 11/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51835886-000-02

 

 

MANAGEMENT

 

Manager:  Mr. Shailesh Ganmal Jain

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Shailesh Ganmal JAIN

Residential Address:      Flat F, 11/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 22nd February, 2010 as a sole proprietorship concern owned by Mr. Shailesh Ganmal Jain 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, other Asian countries and Europe.

 

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

 

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

 

Terms/Buying:               Prepayment, L/C, 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:                      Unknown

 

Commercial Morality:     Too early to comment.

 

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

 

Standing:                      Small.

 

 

GENERAL

Ageless Enterprises is a sole proprietorship set up and owned by Mr. Shailesh Ganmal Jain who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject commenced business in February 2010.  It does not have its own operating office.  Its registered and operating address is in the residence of the sole proprietor.  The residential building is not trespassed by outsiders.

The subject has no employees in Hong Kong.  It is a diamond importer, exporter and wholesaler.  It is trading in single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc.  The subject is also a commission agent.  Business is still under development in Hong Kong.

To our knowledge, Jain has been trading in diamonds for a very long time.  The business of the subject is just handled by Jain himself.

Most of the commodities are imported from India, other Asian countries and Europe.  Prime markets are Hong Kong, Japan, India and the other Asian countries.

Since the history of the subject is just about eleven months in Hong Kong, on the whole, 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.45.30

UK Pound

1

Rs.71.73

Euro

1

Rs.60.40

 

 

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

----

NB

New Business

----

 

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.