MIRA INFORM REPORT

 

 

Report Date :

24.01.2011

 

IDENTIFICATION DETAILS

 

Name :

J.D.  STAR

 

 

Registered Office :

Flat G, 8/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.07.2009

 

 

Com. Reg. No.:

50932821-000-07

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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

 

J.D.  STAR

 

 

Company ADDRESS

 

Flat G, 8/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

PHONE/FAX:              2219 9969

 

 

MANAGEMENT

 

Manager:  Mr. Tejaskumar Rameshchandra Shah  (Mobile: 6749 2369)

 

 

SUMMARY

 

Establishment:                          29th July, 2009.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Jewellery Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

 

company ADDRESS

 

Head Office:-

Flat G, 8/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

50932821-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Tejaskumar Rameshchandra Shah

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Tejaskumar Rameshchandra SHAH

Residential Address:      Nagarwado, Khambhat, Anand 388620 (GUJ), India.

 

HISTORY

 

The subject was established on 29th July, 2009 as a sole proprietorship concern owned by Mr. Tejaskumar Rameshchandra Shah under the Hong Kong Business Registration Regulations.

At the beginning, the subject was located at Flat D, 7/F., Hang Wan Building, 42-44 Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat C, 17/F., Caribbean Coast, Tower 8, 1 Kin Tung Road, Tung Chung, New Territories, Hong Kong in August 2009, and further 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 products, emerald, precious stones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

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

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Made a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:  Too early to comment.

 

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

 

Standing:                      Small.

 

GENERAL

 

J.D. Star is a sole proprietorship set up and owned by Mr. Tejaskumar Rameshchandra Shah 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 registered address is located at Flat G, 8/F., Star Mansion, 3‑5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that Mr. Shah 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 Shah’s latest residential address.  Shah has moved to this new address in March 2010.  The residential building is not trespassed by outsiders.  Shah can be reached at the mobile phone number 852-6749 2369.

The subject is a diamond importer, exporter and wholesaler.  Most of the commodities such as cut and polished loose diamonds are imported from India and Europe.  Prime markets are Hong Kong, Japan and the other Asian countries.  The subject is just a one-man-company.  Business is under development.

On the whole, since the history of the subject in Hong Kong is just over a year and five months, 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.45.70

UK Pound

1

Rs.72.78

Euro

1

Rs.61.65

 

 

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.