MIRA INFORM REPORT

 

 

Report Date :           

21.07.2011

 

IDENTIFICATION DETAILS

 

Name :

VIJISAN  (H.K.)

 

 

Registered Office :

Flat E, 22/F., Hong King Building, 28 Hong Keung Street, San Po Kong, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

13.04.2000

 

 

Com. Reg. No.:

30876950-000-04

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, 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 Company 

 

 

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

 

VIJISAN  (H.K.)

 

 

Company ADDRESS

 

Flat E, 22/F., Hong King Building, 28 Hong Keung Street, San Po Kong, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Samad Ibrahim Solkar

 

 

SUMMARY

 

Establishment:                          13th April, 2000.

 

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 E, 22/F., Hong King Building, 28 Hong Keung Street, San Po Kong, Kowloon, Hong Kong.

 

P.O. Box 86487, Gillies Avenue Post Office, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

30876950-000-04

 

 

MANAGEMENT

 

Manager:  Mr. Abdul Samad Ibrahim Solkar

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Abdul Samad Ibrahim SOLKAR

Residential Address:      14/F., Ocean View Court, 25 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 13th April, 2000 as a sole proprietorship concern owned by Mr. Rajendrakumar Jayantilal Soni under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Rajendrakumar Jayantilal SONI

13-04-2000

02-06-2000

Abdul Samad Ibrahim SOLKAR

01-06-2000

-

 

Initially the subject was located at 14/F., Ocean View Court, 25 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 7/F., Golden Mansion, 83-85 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in August 2005; to Room 804, 8/F., Cheong Shing Court, 7 San Lau Street, Hunghom, Kowloon, Hong Kong in June 2006; to Flat 2, 2/F., King Wing Building, 57 Man Tai Street, Hunghom, Kowloon, Hong Kong in November 2007; to Flat A, 11/F., Po Sun Mansion, 87 Bulkeley Street, Hunghom, Kowloon, Hong Kong in March 2009; and further moved to the present address in March 2011.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, emerald, precious stones, etc.

 

Employees:                   Nil.

 

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

 

Markets:                       Hong Kong, 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:                Making a small profit in the past years.

 

Condition:                      Business is fairly active.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

GENERAL

 

Vijisan (H.K.) is a sole proprietorship set up in April 2000 and now owned by Mr. Abdul Samad Ibrahim Solkar who is an Indian.  He is the subject’s manager holding an India passport.  Solkar joined in the subject in June 2000.

The subject’s registered address is located at Flat E, 22/F., Hong King Building, 28 Hong Keung Street, San Po Kong, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that Solkar 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 Solkar’s latest residential address.  The residential building is not trespassed by outsiders.  The subject moved to this new address in March 2011.

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

The subject has no employees in Hong Kong.

The subject is a gemstone trader.  It is dealing in fine coloured diamonds and rare gemstones.  Products include fancy coloured diamonds, unusual rose cut and briolette cut diamonds.  Diamonds and gemstones are imported from India, Belgium and other European countries, etc.  Some of the commodities are polished diamonds.  Polished and cut diamonds are exported or re‑exported to Japan, other Asian countries, Europe, the Middle East and North America.  Business is just fairly active.

Originally, the subject was set up by Rajendrakumar Jayantilal Soni who is also an Indian.  Prior to setting up the subject, on 30th October, 1989, Soni set up a diamond trading firm “Ronak Gems”.  Soni retired from the subject on 2nd June, 2000 and has paid more attention on Ronak Gems.  Now, Ronak Gems is still operated by Soni.  Besides Ronak Gems, Soni is also the sole proprietor of Hong Kong Capital Co.  Established on 14th April, 1994, Hong Kong Capital Co. is also a diamond trader.

The subject is just a one-man company.  Keeping a balance account or making a very small profit in most of the past years.

On the whole, since the history of the subject in Hong Kong is over eleven years and three months, consider it good for normal business engagements in small credit amounts.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.67

Euro

1

Rs.62.94

 

 

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.