MIRA INFORM REPORT

 

 

Report Date :

14.07.2011

 

IDENTIFICATION DETAILS

 

Name :

KA  SHING  JEWELLERY  CO.

 

 

Registered Office :

Flat F, 47/F., Tower 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.03.2011

 

 

Com. Reg. No.:

53866249-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of loose diamonds

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

Name and address

 

KA  SHING  JEWELLERY  CO.

 

 

ADDRESS:       Flat F, 47/F., Tower 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.

 

PHONE:            Not available

 

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Ms. Ruchika  (Mobile: 6486 0832)

 

 

SUMMARY

 

Establishment:             1st March, 2011.

 

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:           Too early to comment.

ADDRESS

 

Head Office:-

Flat F, 47/F., Tower 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.

 

Associated Companies:-

Cheung Lung Trading, Hong Kong.  [Operated by Beauty Diam Co. Ltd.]  (Same address)

Kris Diamond, Hong Kong.  (Same owner)

 

 

BUSINESS REGISTRATION NUMBER

 

53866249-000-03

 

 

MANAGEMENT

 

Manager:  Ms. Ruchika

 

 

SOLE PROPRIETOR

 

Name:  Ms. RUCHIKA

Residential Address:      Flat F, 47/F., Tower 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st March, 2011 as a sole proprietorship concern owned by Ms. Ruchika under the Hong Kong Business Registration Regulations.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of loose diamonds.

 

Employees:                   Nil.

 

Commodities Imported:   India, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, etc.

 

Annual Turnover:            Too early to obtain figure.

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               L/C, prepayment, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Too early to comment.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Ka Shing Jewellery Co. was established and owned by Ms. Ruchika (or known as Ms. Ruchika Kala) who is an India businesswoman.  She is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  Ruchika is the Manager of the subject.

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 is in a private building located at Flat F, 47/F., Tower 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.  This address is the residence of Ruchika.  However, Ruchika can be reached at her mobile phone number 6486 0832.  The residential building is not trespassed by outsiders.

The subject has no employees in Hong Kong.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose, polished and cut diamonds.  Most of the commodities are imported from India.  Prime markets are Hong Kong, Japan and the other Asian countries.  Business is still under development.

The subject is just a one-person company.  Business is chiefly handled by Ruchika herself.  History in Hong Kong is just over four months.

Besides the subject, Ruchika is operating another diamond trading firm known as Kris Diamond which was established on 1st January, 2004.

Located at the same address, another diamond trading firm known as Cheung Lung Trading is housed.  Established on 22nd September, 2009, this firm is operated by Beauty Diam Co. Ltd., a Hong Kong-based firm.  Cheung Lung Trading is managed by Mr. Piyush Bhagchand Kala who is supposed to be a family member of Ruchika Kala.

Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.07

Euro

1

Rs.62.40

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.