MIRA INFORM REPORT

 

 

Report Date :           

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

JAVA  TRADING  LTD.

 

 

Registered Office :

Room 1605, 16/F., Wing Kwok Centre, 182 Woosung Street, Jordan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

24.03.2004

 

 

Com. Reg. No.:

34407553

 

 

Legal Form :

Private Limited Company.

 

 

Line of Business :

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

 

JAVA  TRADING  LTD.

 

 

Company ADDRESS

 

Room 1605, 16/F., Wing Kwok Centre, 182 Woosung Street, Jordan, Kowloon, Hong Kong.

PHONE:            2367 9893,  2770 1607

FAX:                 2770 5121

 

 

MANAGEMENT

 

Managing Director:  Mr. Abhay Suresh Parikh  (Mobile: 9580 6110)

 

 

SUMMARY

 

Incorporated on:             24th March, 2004.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           US$10,000.00

Issued:              US$10,000.00

 

Business Category:        Diamond Trader.

 

Employees:                   4.  (Including associates)

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1605, 16/F., Wing Kwok Centre, 182 Woosung Street, Jordan, Kowloon, Hong Kong.

 

Holding Company:-

Paras Diamonds Pvt. Ltd.

Nagin Mahal, 6th Floor, 82, Veer Nariman Road, Churchgate, Mumbai-400020, Maharashtra, India.

[Tel:      91-22-2204 6537, 2204 2776

Fax:      91-22-2204 1807

E-mail:  pdpl@bom5.vsnl.net.in ]

 

Associated Companies:-  (Same address)

·         China Development International Ltd., Hong Kong.

·         Excel Victor Trading Ltd., Hong Kong.

·         Yetfar Trading (HK) Ltd., Hong Kong.

·         Yetfar Trading Co. Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

34407553

 

 

COMPANY FILE NUMBER

 

0891315

 

 

MANAGEMENT

 

Managing Director:  Mr. Abhay Suresh Parikh

 

 

CAPITAL

 

Nominal Share Capital: US$10,000.00 (Divided into 10,000 shares of US$1.00 each)

 

Issued Share Capital:     US$10,000.00

 

SHAREHOLDER  

(As per registry dated 24-03-2011)

 

Name

 

No. of shares

Paras Diamonds Pvt. Ltd.

Nagin Mahal, 6th Floor, 82, Veer Nariman Road, Churchgate, Mumbai-400020, Maharashtra, India.

 

10,000

=====

 

 

DIRECTORS

(As per registry dated 24-03-2011)

 

Name

(Nationality)

 

Address

Abhay Suresh PARIKH

19-Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai-400020, Maharashtra, India.

 

Atul Kirtilal PARIKH

19-Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai-400020, Maharashtra, India.

 

 

SECRETARY 

(As per registry dated 24-03-2011)

 

Name

Address

BR No.

Standard Authorised Associates

Room 2808-2810, 28/F., Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong.

33032773

 

 

HISTORY

 

The subject was incorporated on 24th March, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat A, 9/F., Hanley House, 68-80 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present office with effect from 1st May, 2008.

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

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of diamonds and jewellery products, precious stones, emerald, etc.

 

Employees:                   4.  (Including associates)

 

Commodities Imported:   India, Belgium, Thailand, etc.

 

Markets:                       Asia, Europe, North America, Middle East, etc.

 

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

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   US$10,000.00 (Divided into 10,000 shares of US$1.00 each)

 

Issued Share Capital:     US$10,000.00

 

Profit or Loss:                Business is profitable.

 

Condition:                      Keeping in an active condition.

           

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met obligations as contracted.

 

Commercial Morality:  Satisfactory.

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of US$1.00 each, Java Trading Ltd. is a wholly-owned subsidiary of Paras Diamonds Pvt. Ltd. [Paras] which is an India-based firm.  Paras is owned by the Indian Parikh family.

Besides the subject, the following firms are also located at the operating office of the subject:-

·         China Development International Ltd.

·         Excel Victor Trading Ltd.

·         Yetfar Trading (HK) Ltd.

·         Yetfar Trading Co. Ltd.

Trading in jewellery and diamonds, all the above-mentioned firms are Hong Kong-registered companies.  It is likely that they are business partners of the subject.  The subject is a buying and marketing office of Paras in Hong Kong.

The subject is engaged in the same lines of business as Paras.  Paras is a diamond and jewellery product trader and so does the subject.  Raw materials, mainly rough diamonds, are imported from India, Thailand, Belgium and other European countries, etc.  Some of the products are polished, cut or processed in Hong Kong or China.  Finished products and polished diamonds are marketed in Hong Kong, exported to Japan, India, other Asian countries, Europe, North America, the Middle East, etc.  Business is active.  It also exports and distributes Paras’ products.

Paras in India is engaged in exporting cut and polished colour diamonds.  It also imports rough diamonds.

The subject’s directors Mr. Abhay Suresh Parikh and Mr. Atul Kirtilal Parikh are also the directors of Paras.  Holding India passports, the two Parikhs are residing in Mumbai, India administering the business of Paras.  Paras has had a diamond factory in Mumbai, India.  According to Paras, it is specialised in white diamonds, blue diamond and other colour diamonds.  Business keeps on improving.

The subject is fully supported by Paras.

As the history of the subject is over seven years and four months in Hong Kong, on the whole, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.13

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.