MIRA INFORM
REPORT
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Report Date : |
11.07.2011 |
IDENTIFICATION DETAILS
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Name : |
KOWLOON
RESOURCES AND SUPPLIES
LTD. |
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Registered Office : |
Flat C, 12/F., Block 5, Greenfield Garden, Tsing Yi, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.03.2008 |
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Com. Reg. No.: |
39066219 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of jewellery and diamond products. |
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
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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 |
Bottom of Form
Company name
KOWLOON RESOURCES AND
SUPPLIES LTD.
Company ADDRESS
Flat C, 12/F., Block 5, Greenfield Garden, Tsing Yi, New Territories, Hong Kong.
PHONE: Not available
FAX: Not available
MANAGEMENT
Managing Director: Mr. Gautam Shantilal Jhaveri
SUMMARY
Incorporated on: 11th March, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Flat C, 12/F., Block 5, Greenfield Garden, Tsing Yi, New Territories, Hong Kong.
Affiliated
Companies:-
· London Star Diamond Co., India.
· Vijay Orient Star Ltd.
· Flat B, 11/F., Cameron Plaza, 23-25 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
39066219
COMPANY FILE NUMBER
1216892
MANAGEMENT
Managing Director: Mr. Gautam Shantilal Jhaveri
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDER
(As per registry dated 11-03-2011)
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Name |
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No. of shares |
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Holdas Nominees Ltd, Hong Kong. |
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100 === |
DIRECTOR
(As per registry dated 11-03-2011)
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Name (Nationality) |
Address |
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Gautam Shantilal JHAVERI |
Flat F, 8/F., King Cheung Mansion, 5 King Kwong Street, Happy Valley, Hong Kong. |
SECRETARY
(As per registry dated 11-03-2011)
|
Name |
Address |
Co.
No. |
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Benta Nominees Ltd. |
20/F., Tung Wai Commercial Building, |
0042671 |
HISTORY
The subject was incorporated on 11th March, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of jewellery and diamond products.
Employees: Nil.
Commodities Imported: India, Europe, other Asian countries, etc.
Markets: Japan, South Korea, Southeast Asia, Europe, Middle East, etc.
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Profit or Loss: Kept a balance account in 2010.
Condition: Business is not very active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 100 ordinary shares of HK$1.00 each, Kowloon Resources And Supplies Ltd. is wholly owned by Benta Nominees Ltd. which is a Hong Kong-registered nominee firm.
The only director of the subject Mr. Gautam Shantilal Jhaveri is an Indian who has been in Hong Kong for a very long time. 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 C, 12/F., Block 5, Greenfield Garden, Tsing Yi, New Territories, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Jhaveri 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 Jhaveri’s residential address. The residential building is not trespassed by outsiders. The subject is chiefly controlled by Jhaveri himself.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject has got an affiliated company known as Vijay Orient Star Ltd. [VOSL] which is located at a different address in Hong Kong. The subject and VOSL are engaged in the same lines of business. Incorporated on 28th April, 1978, VOSL is jointly owned by Jhaveri, Mr. David Klagsbrun, Mr. Pradyot R. Kothari and Mr. Renuka Galitam Jhaveri. The second has passed away while the third is residing in Antwerp, Belgium.
The subject’s business is chiefly handled by Mr. Gautam Shantilal Jhaveri and Mr. Renuka Galitam Jhaveri. The latter is a family member of the former.
The subject and VOSL are trading in the following products:-
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Product/Service |
Product/Service
Remarks |
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Fine Jewellery |
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Precious and Semi-Precious Jewellery |
From India (Importer) |
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Jewellery – Semi-Precious Stone |
From India (Importer) From India (Exporter) |
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Jewellery – Platinum |
From India (Importer) From India (Exporter) |
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Jewellery – Pearl |
From India (Importer) From India (Exporter) |
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Jewellery – Gemset |
From India (Importer) From India (Exporter) |
The subject’s products include loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts. Most of the subject’s commodities are imported from India. After processing in Hong Kong or China, the subject’s jewellery products are exported to India, Japan, South Korea, Southeast Asia, Europe, the Middle East, etc. Business has been improving. It seems that Belgium has been a significant market of the subject.
Besides, the subject has had an affiliated company known as London Star Diamond Co. [London Star] in India. It is likely that London Star is the subject’s main supplier.
The history of the subject in Hong Kong is just over three years and three months.
On the whole, since the registered office of the subject is in a residential building, consider it good for normal business engagements on secured basis.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
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UK Pound |
1 |
Rs.70.74 |
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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.