MIRA INFORM
REPORT
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Report Date : |
11.07.2011 |
IDENTIFICATION DETAILS
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Name : |
DAZZLE
INTERNATIONAL LTD |
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Registered Office : |
Flat E, 13/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.08.2009 |
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Com. Reg. No.: |
50992219 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds |
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 : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
DAZZLE INTERNATIONAL LTD.
Company ADDRESS
Flat E, 13/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2890 7575
FAX: 2577 7153
MANAGEMENT
Managing Director: Mr. Kunal Ashokkumar Kothari
SUMMARY
Incorporated on: 7th August, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$1,180,000.00
Issued: HK$1,180,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COMPANY ADDRESS
Registered Head
Office:-
Flat E, 13/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Associated
Company:-
Dilash & Co., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
50992219
COMPANY FILE NUMBER
1360151
MANAGEMENT
Managing Director: Mr. Kunal Ashokkumar Kothari
CAPITAL
Nominal Share Capital: HK$1,180,000.00 (Divided into 1,180,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,180,000.00
SHAREHOLDERS
(As per registry dated
07-08-2010)
|
Name |
|
No. of shares |
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Bhavik Ashokkumar KOTHARI |
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5,000 |
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Kunal Ashokkumar KOTHARI |
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1,175,000 |
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|
–––––––– |
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Total |
1,180,000 ======= |
DIRECTOR
(As per registry
dated 07-08-2010)
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Name (Nationality) |
Address |
|
Kunal Ashokkumar KOTHARI |
Flat A, 10/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 07-08-2010)
|
Name |
Address |
|
Bhavik Ashokkumar KOTHARI |
Flat A, 10/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
HISTORY
The subject was incorporated on 7th August, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat A, 10/F., Union Mansion, 33‑35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to Flat E, 13/F. of the same building with effect from 20th August, 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.
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: Hong Kong, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,180,000.00 (Divided into 1,180,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,180,000.00
Alternation of Capital:-
|
07-08-2009 |
paid up |
HK$ 10,000.00 |
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29-10-2009 |
paid up |
HK$ 780,000.00 |
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09-04-2010 |
paid up |
HK$ 390,000.00 |
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|
––––––––––––––– |
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Total: |
paid up |
HK$ 1,180,000.00 ============== |
Increases of Nominal Capital:-
|
From |
HK$ 10,000.00 |
to |
HK$ 790,000.00 |
on |
29-10-2009 |
|
From |
HK$790,000.00 |
to |
HK$1,180,000.00 |
on |
09-04-2010 |
Profit or Loss: Kept a balance account in 2010.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 1,180,000 ordinary shares of HK$1.00 each, Dazzle International Ltd. is jointly-owned by Mr. Kunal Ashokkumar Kothari, holding 99.6%, and Mr. Bhavik Ashokkumar Kothari, holding 0.4%. Belonging to the same family, the two Kotharis are Indian.
Formerly the subject had just issued 790,000 ordinary shares, increased to the present number in 2010.
The subject has got an associated company Dilash & Co. [Dilash], a Hong Kong-registered firm, located at the same operating address. Dilash is also a diamond trader. This firm is jointly owned by three partners, namely, Mr. Kunal Ashokkumar Kothari, Mr. Ashok Muktilal Kothari and Mr. Bhavik Ashokkumar Kothari. The subject and Dilash are engaged in the same lines of business.
The subject does not have its own operating office. Its registered office is in a residential building located at Flat E, 13/F., Union Mansion, 33-35 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. It is likely that K. A. Kothari has moved to this new address too. He is also the only director of the subject. Being a Hong Kong ID Card holder, he has got the right to reside in Hong Kong permanently.
It is also likely that the secretary of the subject Mr. Bhavik Ashokkumar Kothari is also residing at the above-mentioned new address. The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
The subject is a diamond trader. It is trading in the following commodities: single-cut diamond, fullcut loose diamond, carat size diamonds, etc. Most of the commodities are imported from India. Prime markets are Hong Kong, Japan and the other Asian countries.
The history of the subject in Hong Kong is just over one year and eleven months.
Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on secured basis.
COURT CASES: None per our records.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
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UK Pound |
1 |
Rs.70.74 |
|
Euro |
1 |
Rs.63.65 |
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.