MIRA INFORM REPORT

 

 

Report Date :           

18.07.2011

 

IDENTIFICATION DETAILS

 

Name :

PHOENIX  IMPEX

 

 

Registered Office :

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.07.2007

 

 

Com. Reg. No.:

38171239-000-07

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, 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

 

 Bottom of Form

Company name

 

PHOENIX  IMPEX

 

 

Company ADDRESS

 

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Nishank Harshaobhai Dagli

 

 

SUMMARY

 

Establishment:                          17th July, 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:           Fairly satisfactory.

Company ADDRESS

 

Head Office:-

Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Company:-

Technic Trade, Hong Kong.  (Same owner)  [Business ceased]

 

 

BUSINESS REGISTRATION NUMBER

 

38171239-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Nishank Harshaobhai Dagli

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Nishank Harshaobhai DAGLI

Residential Address:      Room 1701, 17/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

and

C-19 Alok Apartment, P.T College Road, Near Sabar Flats, Paldi, Ahemdabad-380007, India.

 

 

HISTORY

 

The subject was established on 17th July, 2007 as a sole proprietorship concern owned by Mr. Nishank Harshaobhai Dagli under the Hong Kong Business Registration Regulations.

Originally the subject was registered under the name of Phoenix Gems, name changed to the present style on 25th July, 2007.

At the very beginning, the subject was located at Flat 7, 9/F., Star Mansion, 3‑5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 1, 11/F. of the same building in January 2009; and further to the present adress in December 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 and jewellery products, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European 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 or Loss:                Kept a balance account in 2010.

 

Condition:                      Business is improving.

 

Facilities:                      Trying to make 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

 

Phoenix Impex is a sole proprietorship set up and owned by Mr. Nishank Harshaobhai Dagli who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered address is located at Flat C, 6/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui, Kowloon, Hong Kong which is in a residential building.  The subject moved to this new address in early December 2010.  It is also likely that this is the new residence of Dagli when he is in Hong Kong.

The subject is a diamond importer, exporter and wholesaler.

Business commenced in July 2007, the subject is trading in loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, etc.  Most of its commodities are imported from India, Belgium and other European countries, etc.  Business is still under development.

The subject is just a one-man-company.  It made a small loss in 2008.

Besides the subject, Dagli had set up another firm known as Technic Trade located at a different address.  Established on 10th February, 2009, Technic Trade was located at Room 728, 7/F., Beverly Commercial Centre, 87 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.  Technic Trader was also a diamond trader.  However, this firm has ceased business since 6th December, 2010.

The history of the subject is about four years in Hong Kong.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, 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.44.53

UK Pound

1

Rs.71.91

Euro

1

Rs.62.98

 

 

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.