MIRA INFORM REPORT

 

 

Report Date :

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

kunming enterprises

 

 

Registered Office :

Flat C, 4/F., Han Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

26.08.2002

 

 

Com. Reg. No.:

32913398-000-08

 

 

Legal Form :

Partnership

 

 

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

 

Company name  and address

 

KUNMING  ENTERPRISES

 

 

ADDRESS:       Flat C, 4/F., Han Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2368 8599,  2367 2599

 

FAX:                 2368 9484

 

E-MAIL:            jakhotia@biznetvigator.com

 

 

MANAGEMENT

 

Manager:  Mr. Damodar Prasad Ramkishore Jakhotia

 

 

SUMMARY

 

Establishment:                          26th August, 2002.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond and Gem Trader.

 

Annual Turnover:            HK$25~30 million.

 

Employees:                   3.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Flat C, 4/F., Han Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

32913398-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Damodar Prasad Ramkishore Jakhotia

 

 

PARTNERS

 

Name:  Mr. Damodar Prasad Ramkishore JAKHOTIA

Residential Address:      Flat B7, 12/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:  Mr. Gita Devi JAKHOTIA

Residential Address:      Flat B7, 12/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 26th August, 2002 as a partnership concern jointly owned by Mr. Damodar Prasad Ramkishore Jakhotia and Mr. Rishi Jakhotia under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Damodar Prasad Ramkishore Jakhotia

26-08-2002

-

Rishi Jakhotia

26-08-2002

29-05-2009

Gita Devi Jakhotia

10-09-2004

-

 

Initially the subject was located at Flat B7, 12/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1506, 15/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in September 2002; and further moved to the present address in February 2005.

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:                   3.

 

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

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, etc.

 

Annual Turnover:            HK$25~30 million.

 

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 every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met obligations as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Kunming Enterprises is a partnership jointly owned by Mr. Damodar Prasad Ramkishore Jakhotia and Mr. Gita Devi Jakhotia, both of whom are Indian and belong to the Jakhotia family.  Both are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

According to the subject, the Jakhotia family has been trading in diamonds and gemstones since 1972.  It is specialised in rose cut, briolette, beads and fancy shapes in various sizes and quality.  It is also specialised in gemstones such as ruby, sapphire and emerald in cut and cabs and carving in various ranges.  The subject has got affiliated manufacturers in India.

 

The subject is trading in the following commodities:-

Product/Service

Product/Service Remarks

Emerald (necklace, etc.)

From India (Retailer)

From India (Exporter)

From India (Wholesaler)

Ruby

From India (Exporter)

Sapphire

From India (Exporter)

Diamond (Round-Cut, Faceted, Pear-Cut, etc.)

From India (Exporter)

 

The subject also carries the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, etc.  Most of the diamonds and gemstones are imported from India, Burma, Thailand, Sri Lanka, etc.  Its products are marketed in Hong Kong, exported to Southeast Asia, China, Eastern Europe, Japan, South Korea, the Middle East, North America, Taiwan, Western Europe, etc.  Business is rather active.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it had taken part in Hong Kong International Jewellery Show from 2007 to 2011.

It is also going to take part in Hong Kong International Jewellery Show which will be held during the period of 16th to 20th February, 2012.

The annual sales turnover of the subject ranges from HK$25 to 30 million.  Making a small profit every year.

The subject is chiefly handled by the two partners.  Regular suppliers and customers have been maintained.  History in Hong Kong is about nine years.

On the whole, consider the subject good for normal business engagements.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.12

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.