MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Name :

BOON  VENTURE

 

 

Registered Office :

c/o WinGate Business Ltd., Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

27.03.2009

 

 

Com. Reg. No.:

50482321-000-03

 

 

Legal Form :

Partnership

 

 

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 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

 

Company name

 

BOON  VENTURE

 

 

Company ADDRESS

 

c/o WinGate Business Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

PHONE:                        2830 9999

FAX:                 2830 9998

 

 

MANAGEMENT

 

Manager:  Mr. Nilesh Manharlal Chauhan

 

 

SUMMARY

 

Establishment:                          27th March, 2009.

 

Organization:                 Partnership.

 

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:-

c/o WinGate Business Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

 

Associated Company:-

Uni Star, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

50482321-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Nilesh Manharlal Chauhan

 

 

PARTNERS

 

Name:                           Nilesh Manharlal CHAUHAN

Residential Address:      Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Tarun KANDHARI

Residential Address:      12 Sunder Nagar, New Delhi-110003, India.

 

 

HISTORY

 

The subject was established on 27th March, 2009 as a sole proprietorship concern owned by Mr. Nilesh Manharlal Chauhan under the Hong Kong Business Registration Regulations.  Became a partnership firm as Mr. Tarun Kandhari joined in on 14th February, 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, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Europe, other Asian countries, etc.

 

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

 

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

 

Terms/Buying:               L/C, T/T, 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:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Boon Venture is a partnership jointly owned by Mr. Nilesh Manharlal Chauhan and Mr. Tarun Kandhari, both of whom are Indians.  The former is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently while the latter is an India passport holder.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong known as WinGate Business Ltd. which is handling its correspondences and documents.  The subject has no employees in Hong Kong.

It is likely that the operating address of the subject is in the Hong Kong residence of Chauhan.

The subject is trading in loose diamonds, emerald, precious stones, colour stones, ruby jade, gem sets, etc.  Polished and cut diamonds are imported from India, Belgium, other European countries, etc.  Some of the raw diamonds are polished or processed in Hong Kong or China.  Finished products and polished diamonds are marketed in Hong Kong, exported or re‑exported to India, the other Asian countries, Europe, etc.

It is likely that the subject has got an associated company in India which is also operated by Kandhari.  However, details are unknown.

Besides operating the subject, Chauhan is operating another firm known as Uni Star.  This firm was incorporated on 30th August, 2007 and registered in Hong Kong but located at a different address.  Uni Star is also a diamond trader.

The subject’s business in Hong Kong is fairly active.  The history of the subject is just over two years and three months in Hong Kong.

Since the subject does not have its own operating office, 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.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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.