MIRA INFORM
REPORT
|
Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHEUNG
LUNG TRADING |
|
|
|
|
Registered Office : |
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
23.01.2006 |
|
|
|
|
Com. Reg. No.: |
51214387-005-09 |
|
|
|
|
Legal Form : |
Sole Ownership. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Diamonds, 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 |
Company name
CHEUNG LUNG TRADING
company ADDRESS
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
MANAGEMENT
Manager: Mr. Piyush Bhagchand Kala
SUMMARY
Started on: 23rd January, 2006. (Sole Proprietorship)
Establishment: 22nd September, 2009.
Organization: Sole Ownership.
Capital: Provided by Sole Owner.
Business Category: Importer, Exporter and Wholesaler.
Employee: 1. (Including sister companies)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong.
Sister
Companies:- (Same BR No.)
Beauty-Diam, Hong Kong. [BR No. 51214387-001-09]
Kris Diamond, Hong Kong. [BR No. 51214387-002-09]
Pola Hong Trading Co., Hong Kong. [BR No. 51214387-003-09]
River Code Infotech, Hong Kong. [BR No. 51214387-004-09]
Affiliated
Companies:-
Beauty - Diam, Hong Kong. [BR No. 20640474-000-01]
Beauty - Diam, India.
Kris Diamond, Hong Kong.
BUSINESS REGISTRATION NUMBER
51214387-005-09
MANAGEMENT
Manager: Mr. Piyush Bhagchand Kala
SOLE OWNER
Beauty Diam Co. Ltd., Hong Kong. (See attachment)
HISTORY
The subject was established on 22nd September, 2009 as a sole ownership firm with Beauty Diam Co. Ltd. as the proprietor under the Hong Kong Business Registration Regulations.
The predecessor of the subject was also known as Cheung Lung Trading [Old Cheung Lung] which was established on 23rd January, 2006 as a sole proprietorship concern owned by Ms. Ruchika under the Hong Kong Business Registration Regulations. The BR No. of Old Cheung Lung was 36391122-000-01 and was also located at Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong. However, Old Cheung Lung ceased business on 1st December, 2009. The subject has taken over the business of Old Cheung Lung since then.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Diamonds, precious stones, etc.
Employee: 1. (Including sister companies)
Commodities Imported: Europe and other Asian countries, etc.
Markets: Hong Kong, Southeast Asia, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Provided by Sole Owner.
Profit or Loss: Kept a balance account in 2010.
Condition: Business is under development.
Facilities: Trying to make 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
Cheung Lung Trading is a sole ownership firm owned by Beauty Diam Co. Ltd. [BDCL] which is a Hong Kong-registered firm located at Room 908, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
The registered address of the subject is in a private building located at Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong. This address is the residence of Mr. Piyush Bhagchand Kala who is the manager of the subject. Kala is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The predecessor of the subject, bearing BR No. of 36391122, was also known as Cheung Lung Trading which has ceased business since 1st December, 2009.
Business commenced in September 2009, the subject is trading in loose diamonds, emerald, precious stones, etc. Raw materials are imported from India and European countries. The subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts. Gemstones and diamonds are processed, polished and cut in Hong Kong or China. Finished products such as diamond jewellery are marketed in Hong Kong, exported to other Asian countries, Europe, etc. Business is still under development.
Besides the subject, BDCL also has had the following business names in Hong Kong:-
|
Business Name |
BR
No. |
Establishment |
Address |
|
Beauty-Diam |
51214387-001-09 |
22-09-2009 |
Room 908, 9/F., Hart
Avenue Plaza, |
|
Kris Diamond |
51214387-002-09 |
22-09-2009 |
Room 908, 9/F., Hart
Avenue Plaza, |
|
Pola Hong Trading Co. |
51214387-003-09 |
22-09-2009 |
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong. |
|
River Code Infotech |
51214387-004-09 |
22-09-2009 |
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong. |
All the above-mentioned firms are diamond trading companies. However, the third and the fourth are also trading in telecommunication equipment, electronic products, etc.
Having issued 10,000 ordinary shares of HK$1.00 each, BDCL is wholly owned by Kala. It was incorporated on 22nd September, 2009.
The subject made a small loss in 2009 but kept a balance account in 2010. Business is improving.
On the whole, since the history of the subject is just over a year and ten months, on the whole, consider it good for normal business engagements on secured basis.
COURT
CASES: None per our.
Company name
BEAUTY
DIAM CO. LTD.
(Business names: BEAUTY-DIAM, KRIS DIAMOND, POLA HONG TRADING CO., RIVER CODE
INFOTECH and CHEUNG LUNG TRADING)
company ADDRESS
Room 908, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
51214387-000-09
COMPANY FILE NUMBER
1375624
DATE OF INCORPORATION
22nd September, 2009.
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry
dated 22-09-2010)
|
Name |
|
No. of shares |
|
Piyush Bhagchand KALA |
|
10,000 ===== |
DIRECTOR
(As per registry
dated 22-09-2010)
|
Name (Nationality) |
Address |
|
Piyush Bhagchand KALA |
Flat F, 47/F., Block 2, Grand Waterfront, 38 San Ma Tau Street, Tokwawan, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 22-09-2010)
|
Name |
Address |
Co.
No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong. |
0975326 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
UK Pound |
1 |
Rs.72.49 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.