MIRA INFORM REPORT

 

 

Report Date :

29.01.2011

 

IDENTIFICATION DETAILS

 

Name :

PENTA  TRADES

 

 

Registered Office :

Flat 8, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong  

 

 

Date of Incorporation :

18.09.2001

 

 

Com. Reg. No.:

32073518-000-09

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

 

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 :

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

 

PENTA  TRADES

 

 

Company ADDRESS    

 

Flat 8, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2724 4759

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Razzak M. I. Hassan Riyash

 

 

SUMMARY

 

Establishment:                          18th September, 2001.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter, Commission Agent, etc.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

company ADDRESS

 

Head Office:-

Flat 8, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

Orient HK, Hong Kong.
(Also owned by Mr. Abdul Razzak M. I. Hassan Riyash)

 

 

BUSINESS REGISTRATION NUMBER

 

32073518-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Razzak M. I. Hassan Riyash

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Abdul Razzak M. I. HASSAN RIYASH

Residential Address:      Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 18th September, 2001 as a sole proprietorship concern owned by Mr. Abdul Razzak M. I. Hassan Riyash under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Flat B7, 11/F., Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat C2, 6/F. of the same building in July 2003; and further moved to the present address in November 2005.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:          Importer, Exporter, Commission Agent, etc.

Lines:                           All kinds of diamonds and jewellery products, emerald, precious stones, etc.

 

Employees:                   Nil.

 

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

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit & Loss:                Making a very small profit every year.

 

Condition:                      Business is normal.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:  Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Penta Trades is a sole proprietorship set up and owned by Mr. Abdul Razzak M. I. Hassan Riyash 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’s registered address is located at Flat 8, 16/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 Hassan Riyash has moved to this new address but has not made any amendments on the subject’s registration materials.  The subject’s operating address is also the sole proprietor’s new residential address.  Hassan Riyash moved to this address in November 2005.

Business commenced in September 2001, the subject is a diamond importer, exporter and wholesaler.  It is trading in single-cut diamond, fullcut loose diamond, carat size diamonds, etc.  Most of the loose diamonds are polished and cut in its affiliated factories in India.

Business commenced in September 2001, the subject is also engaged in the following business scope besides trading in diamonds:-

·         Remittance agent

·         Money exchanger

·         Commission agent

·         Importer, exporter and wholesaler

Diamond products and jewellery are marketed in Hong Kong, and exported to Japan, Taiwan and the other Asian countries.

The subject is just a one-man company.  Business is handled by Hassan Riyash himself.  Keeping a balance account or just making a very small profit in most of the years.

The subject has got an affiliated company Orient HK located at its operating office.  Established on 24th June, 2010, Orient HK is a Hong Kong-registered firm also owned by Mr. Abdul Razzak M. I. Hassan Riyash.  Orient HK is also a diamond trader.

The history of the subject in Hong Kong is over nine years and two months.

Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, consider it good for business engagements in small credit amounts.

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.74

UK Pound

1

Rs.72.73

Euro

1

Rs.62.73

 

 

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.