MIRA INFORM
REPORT
|
Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
HINI
STAR LTD. |
|
|
|
|
Registered Office : |
Unit 01-02, 10/F., Tower 2, Harbour Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
08.08.2003 |
|
|
|
|
Com. Reg. No.: |
33862215 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds, gems and jewellery |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
|
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) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
HINI STAR LTD.
Company ADDRESS
Unit 01-02, 10/F., Tower
2, Harbour Centre,
PHONE: 2724 4330
FAX: 2721 6516
E-MAIL: hini@karpgroup.com
MANAGEMENT
Managing Director: Mr. Rameshkumar Bhikhabhai Virani
SUMMARY
Incorporated on: 8th August, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$78,000,000.00
Issued: HK$78,000,000.00
Business Category: Diamond and Gem Trader.
Employees: 8.
Main Dealing Banker: Industrial & Commercial Bank of
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Affiliated Factory
in
8/A, Lal Darwaja, Surat-395008,
Associated/Affiliated
Companies:-
Karp
Group of Companies
·
Hini Star (
·
Hini Star (
· Hini Star Diamonds LLC, UAE.
·
Karp Diamonds Pvt. Ltd.,
·
Karp Impex HK Ltd.,
·
Karp Impex Ltd.,
·
Karp Impex N.V.,
·
·
Karp Jewellery Mfg. China Ltd.,
·
Karp Jewellery Mfg. HK Ltd.,
·
Karp Jewellery Pvt. Ltd.,
·
Karp Jewellery Taiwan Ltd.,
·
Karp Jewellery Taiwan Ltd.,
·
Karp Manufacturing Co.,
·
Karp Suisse (
· Park Infotech, India., etc.
BUSINESS REGISTRATION NUMBER
33862215
COMPANY FILE NUMBER
0856743
MANAGEMENT
· Managing Director: Mr. Rameshkumar Bhikhabhai Virani
·
General Manager:
Mr. Pankajkumar Vitthalbhai Khunt
· Contact Person: Mr. Ramesh Maldar
CAPITAL
Nominal Share Capital: HK$78,000,000.00 (Divided into 78,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$78,000,000.00
SHAREHOLDERS
(As per registry dated 08-08-2010)
|
Name |
|
No. of shares |
|
Rasila Ramesh VIRANI |
|
65,550,000 |
|
Rameshkumar Bhikhabhai
VIRANI |
|
11,700,000 |
|
Pankajkumar Vitthalbhai
KHUNT |
|
450,000 |
|
Karp Impex HK Ltd., |
|
300,000 |
|
|
|
––––––––– |
|
|
Total: |
78,000,000 ======== |
DIRECTORS
(As per registry dated 08-08-2010)
|
Name (Nationality) |
Address |
|
Rameshkumar Bhikhabhai VIRANI |
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street,
Hunghom, Kowloon, Hong Kong. |
|
Rasila Ramesh VIRANI |
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 08-08-2010)
|
Name |
Address |
|
|
RC Corporate Services Ltd. |
Room 2109, 21/F., |
0467057 |
HISTORY
The subject was incorporated on 8th August, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject moved to the present address in December 2005.
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, gems and jewellery.
Employees: 8.
Commodities Imported:
Markets: Europe,
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewelry
Manufacturers’ Association,
FINANCIAL INFORMATION
Nominal Share Capital: HK$78,000,000.00 (Divided into 78,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$78,000,000.00
Indebtedness: US$732,043.58 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 08-08-2010)
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active and steady condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
·
Industrial & Commercial Bank of
·
The Royal Bank of
·
The Hongkong & Shanghai Banking Corp. Ltd.,
·
Standard Chartered Bank (Hong Kong) Ltd.,
Standing:
GENERAL
Having
issued 78 million ordinary shares of HK$1.00 each, Hini Star Ltd. is chiefly
owned by Mr. Rasila Ramesh Virani who is holding 84.04% stake of the
subject. The subject is a member of the
Karp Group which is an Indian group in
The subject is an importer, exporter and wholesaler of fancy cut diamonds, polished diamonds, and round diamonds. Most of the products bear the brand name of “Tri-Star” and “Sky-Star”. Most of its commodities are supplied by Karp Impex Ltd. [Karp Impex] which is an India-based firm. Karp Impex is a main member of the Karp Group.
With well-established offices in worldwide, the subject offers clients with a full spectrum of fancy cut diamonds including taper, baguette, marquise, pear, oval, princess, heart, trillion, round pointer, heart-shape, and brilliant cut diamonds from 0.01 to 10 carats, also “Hearts & Arrows” ideal cut with GIA/HRD/IGI certificate.
The Karp Group has got an affiliated company Karp Impex HK Ltd. which is also located at the operating address of the subject. It is also a holding company of the subject holding 0.38% stake. From 2004 to 2008, Karp Impex HK Ltd. had got the “Best of Show Award of Hong Kong Jewellery Design Competition”.
The
Group was formed in the early 60’s in
KARP has been privileged to be a DTC Sightholder since 1993. While such privilege ensures access to reliable and consistent supplies of rough diamonds across a wide range of sizes, it also reflects the kind of responsibilities that KARP accepts. These represent KARP’s commitment to its suppliers, channel partners, eventual consumers and its own social conscience.
KARP
is recognized by the Government of India as a “Star Trading House”. Being one of the well respected diamond
companies in
Mr.
Rameshkumar Bhikhabhai Virani who is residing in
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in Hong Kong and other foreign large cities such
as Las Vegas of the United States, Basel of Switzerland, Hyderabad of India,
Macau, Shenzhen of China, etc. For
instance, it is going to take part in the Hong Kong Jewellery & Gem Fair
which will be held between 4th to 8th March, 2011 in
Over the past years, the subject has taken part in the following exhibitions and fairs:-
·
JCK
·
·
·
·
·
Mainland
·
Jewelry
·
· Shenzhen International Jewellery Fair
·
The annual sales turnover of the subject is very significant.
Sharing the same operating office with Karp Impex HK Ltd., the subject is fully supported by the Karp Group and the Virani family.
The subject has had the following three main affiliated companies:-
Hini
Star (
Hini
Star (
Hini
Star Diamonds LLC,
Over the past years, the subject has got the following GJEPC awards:-
|
1996-97 |
GJEPC Award — Highest
Importers of Diamonds from |
|
1997-98 |
GJEPC Award — Highest
Importers of Diamonds from |
|
1998-99 |
GJEPC Award — Highest
Importers of Diamonds from |
|
1999-00 |
GJEPC Award — Highest
Importers of Diamonds from |
|
2000-01 |
GJEPC Award — Highest
Importers of Diamonds from |
|
2001-02 |
GJEPC Award — Highest
Importers of Diamonds from |
Karp
Impex, an affiliate of the subject, is in
Another
main firm of the Group Karp Diamonds Pvt. Ltd. which is in Jasdan,
At present, the Group employs over 8,000 personnel at its state-of-the-art diamond cutting and polishing factories. The factories are well equipped with cutting edge diamond processing technology such as VibFree console; Hi‑Gain, 5-axes laser technology, Auto-Pol console and Russian Pacor technology for the production of both fancy and brilliant cut diamonds as well as personalised cuts.
From more than 47 years of diamond cutting and distribution experience KARP has developed in-house ERP & CRM software to manage the complexities of the diamond trade. From the point of allocation, through every stage, until the final sale, each step is well managed and controlled by a loyal and responsible management team.
The contact person of the subject Mr. Ramesh Maldar is also an Indian.
The
history of the subject in
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
REMARKS:
Court Cases: None per our.
Property information of the company:-
Property
Location: Workshop Unit No. 01
& 02 on 10/F.,
Owner: Hini Star Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
01-09-2005 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
|
07-09-2007 |
- |
- ditto - |
Deed of variation and further charge to secure general banking facilities |
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
01-09-2005 |
Instrument: Mortgage Property: 103/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit No. 01 & 02 on 10/F. of Harbour Centre Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., |
To secure the Secured Indebtedness |
|
07-09-2007 |
Instrument: Deed of Variation and Further Charge Property: 103/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit No. 01 & 02 on 10/F. of Harbour Centre Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., |
To secure all moneys in respect of general banking facilities |
|
26-04-2010 |
Instrument: Security Agreement over Bank Account (Own Obligations) Property: By way of a first fixed charge to the Bank all of the Chargor’s rights in respect of any amount standing to the credit of the Account and the debt represented by it Mortgagee: Standard Chartered Bank, Hong Kong
Branch. [Business transferred to
Standard Chartered Bank ( |
To secure for the payment and satisfaction of all present and future obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.58 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.01 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.