MIRA INFORM REPORT

 

 

Report Date :           

11.07.2011

 

IDENTIFICATION DETAILS

 

Name :

FINE  STAR

 

 

Registered Office :

Flat A, 10/F., Golden Mansion, 83-85A Chatham Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

31.05.2007

 

 

Com. Reg. No.:

38002397-000-05

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, 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 :

Small Concern

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

FINE  STAR

 

 

Company ADDRESS    

 

Flat A, 10/F., Golden Mansion, 83-85A Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Ashish Babubhai Beladia

 

 

SUMMARY

 

Establishment:                          31st May, 2007.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Head Office:-

Flat A, 10/F., Golden Mansion, 83-85A Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

38002397-000-05

 

 

MANAGEMENT

 

Manager:  Mr. Ashish Babubhai Beladia

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Ashish Babubhai BELADIA

Residential Address:      Plot No. 5 Bajrang Society, Bachudadani Wadi Shashtrinagar, Bhavnagar 364001, India.

 

 

HISTORY

 

The subject was established on 31st May, 2007 as a sole proprietorship concern owned by Mr. Ashish Babubhai Beladia under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat C, 5/F., South Sea Apartments, 81 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in January 2011.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or

coloured sapphire, etc.

 

Employees:                   Nil.

 

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

 

Markets:                       Hong Kong, Japan, other Asian countries, North America, Western Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Keeping a balance account.

 

Condition:                      Business is fairly active.

 

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

 

Fine Star is a sole proprietorship set up and owned by Mr. Ashish Babubhai Beladia under the Hong Kong Business Registration Regulations.  Beladia is an Indian holding an India passport and does not have the right to reside in Hong Kong permanently.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject does not have its own operating office.  Its registered address was in a residential building located at Flat C, 5/F., South Sea Apartments, 81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong where was supposed to be the Hong Kong residential address of Beladia.  Now, the registered address of the subject is located at Flat A, 10/F., Golden Mansion, 85‑85A Chatham Road, Tsimshatsui, Kowloon, Hong Kong where is supposed to be the new Hong Kong residential address of Beladia.  The residential building is not trespassed by outsiders.  The subject has no employees in Hong Kong.

To our knowledge, the subject is trading in loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, etc.  Rough diamonds, polished or cut diamonds are imported from India, Belgium, etc.  Some of the polished diamonds are wholesaled in Hong Kong or re-exported to the other Asian countries, Europe, etc.  Business is just fairly active.  It is likely that the subject has got a number of regular suppliers in India.

Business chiefly handled by Beladia himself, the subject is just a one-man company.  Kept a balance account in 2009 and 2010.

The history of the subject is just over four years and a month in Hong Kong.

On the whole, since the subject does not have its own operating office and has no employees, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.70.74

Euro

1

Rs.63.65

 

 

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

----

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%)

 

 

 

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.