MIRA INFORM
REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
KARP
IMPEX HK LTD. |
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Registered Office : |
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.02.2003 |
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Com. Reg. No.: |
33374139 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
Company name
KARP IMPEX
HK LTD.
Company ADDRESS
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2369 3000, 2724 4330
FAX: 2369 8700, 2721 6516
E-MAIL: hini@karpgroup.com
MANAGEMENT
Managing Director: Mr. Anilkumar Bhikhabhai Virani
SUMMARY
Incorporated on: 19th February, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$5,460,000.00
Business Category: Diamond Trader.
Total Income of Parent: Rs. 12,152,986,000 (Year ended 31-03-2010)
Employees: 7. (Including affiliates)
Main Dealing Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 01-02, 10/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
India Factory:-
8/A, Lal Darwaja, Surat-395 008, Gujarat, India.
Holding Company:-
Karp Impex Ltd., India.
Affiliated
Companies:-
Karp Group of Companies
Hini Star (Bangkok) Ltd., Thailand.
Hini Star (Taiwan) Ltd., Taiwan.
Hini Star Diamonds LLC, UAE.
Hini Star Ltd., Hong Kong. (Same address)
Karp Diamond Pvt. Ltd., India.
Karp Impex N.V., Belgium.
Karp Infotech, India.
Karp Jewellery Mfg. China Ltd., Hong Kong. (Same address)
Karp Jewellery Mfg. HK Ltd., Hong Kong. (Same address)
Karp Jewellery Pvt. Ltd., India.
Karp Jewellery Taiwan Ltd., Hong Kong.
Karp Jewellery Taiwan Ltd., Taiwan.
Karp Manufacturing Co., India.
Park Infotech, India.
etc.
BUSINESS REGISTRATION NUMBER
33374139
COMPANY FILE NUMBER
0833706
MANAGEMENT
Managing Director: Mr. Anilkumar Bhikhabhai Virani
CAPITAL
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,460,000.00
SHAREHOLDERS
(As per registry
dated 19-02-2011)
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Name |
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No. of shares |
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Karp Impex Ltd. Shanta Bhuvan, 66 Kumudwadi, Bhavnagar-364002 (Gujarat), India. |
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5,459,999 |
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Anilkumar Bhikhabhai VIRANI |
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1 |
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–––––––– |
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Total: |
5,460,000 ======= |
DIRECTORS
(As per registry
dated 19-02-2011)
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Name (Nationality) |
Address |
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Anilkumar Bhikhabhai VIRANI |
Jal-Mayur Chs., 5th Floor, 51 Laxmi Vilas, 87 Nepean Sea Road, Mumbai-400006, India. |
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Kishorkumar Bhikhalal VIRANI |
Jal-Mayur Chs., 5th Floor, 51 Laxmi Vilas, 87 Nepean Sea Road, Mumbai-400006, India. |
SECRETARY
(As per registry
dated 19-02-2011)
|
Name |
Address |
Co.
No. |
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RC Corporate Services Ltd. |
Room 2109, 21/F., China Resources Building, 26 Harbour Road, Wanchai, Hong Kong. |
0467057 |
HISTORY
The subject was incorporated on 19th February, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1505, 15/F., Tung Shun Hing Commercial Centre, 20-22 Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in December 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.
Employees: 7. (Including affiliates)
Commodities Imported: Belgium, India, Israel, US, etc.
Markets: Europe, Japan, Israel, Thailand, US, etc.
Total Income of Parent: Rs. 10,118,699,000 (Year ended 31-03-2006)
· Rs. 10,316,745,000 (Year ended 31-03-2007)
· Rs. 10,297,778,000 (Year ended 31-03-2008)
· Rs. 11,273,929,000 (Year ended 31-03-2009)
· Rs. 12,152,986,000 (Year ended 31-03-2010)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,460,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
· Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
· The Royal Bank of Scotland N.V., Hong Kong Branch.
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 5,460,000 ordinary shares of HK$1.00 each, Karp Impex HK Ltd. is a wholly-owned subsidiary of Karp Impex Ltd. [Karp Impex] which is an India-based firm. The subject is controlled by Mr. Anilkumar Bhikhabhai Virani who is holding a very minor stake of the subject. Virani is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject is a member of the Karp Group which is an Indian Group in India trading in jewellery and diamonds.
The subject is an importer, exporter and wholesaler of fancy cut diamonds and round diamonds.
The subject has got an affiliated company Hini Star Ltd. [Hini Star] located at the subject’s operating address.
With well-established offices in worldwide, the subject offers clients with the full spectrum of fancy cut diamonds including taper, baguette, marquise, pear, oval, princess, heart, trillion, round pointer, and brilliant cut diamonds from 0.01 to 10 carat, also “Hearts & Arrows” ideal cut with GIA / HRD / IGI certificate.
The subject’s affiliate Hini Star has been named the No. 1 diamond importer in Southeast Asia by the Gem and Jewellery Export Promotion Council in India since 1996.
The Karp Group is owned by the Maldar family and was formed in the early 60’s in India. Now, the Group is controlled by the third generation of the family.
Hini Star is administered by Mr. Rameshkumar Bhikhabhai Virani who is one of the key members of the Karp Group.
Karp Impex is recognized by the Government of India as a “Star Trading House”. For the year ended 31st March, 2010, the total income of Karp Impex was Rs. 12,152,986,000 (2009: Rs. 11,273,929,000), grew by 7.8% as compared with previous years. Business is profitable.
The subject is fully supported by the Karp Group. History is over eight years and three months.
On the whole, consider the subject good for normal business engagements.
REMARKS:
Court Cases: None per our.
Property
information of affiliate:-
Property Location: Workshop Unit No. 01 & 02 on 10/F., Harbour Centre Tower
2,
8 Hok Cheung Street, Kowloon, Hong Kong.
Owner: Hini Star Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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01-09-2005 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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07-09-2007 |
- |
- ditto - |
Deed of variation and further charge to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.64.58 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.