MIRA INFORM REPORT

 

 

Report Date :

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

HONEYWELL  IMPEX

 

 

Registered Office :

C/o Success Business Centre

Unit 1006, 10/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.09.2009

 

 

Com. Reg. No.:

51189441-000-09

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products.

 

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

 

Name and address

 

HONEYWELL  IMPEX

 

 

ADDRESS:       c/o Success Business Centre

Unit 1006, 10/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2734 0418

 

FAX:                 2731 6199

 

 

MANAGEMENT

 

Manager:  Mr. Amitkumar Chhanalal Shah

 

 

SUMMARY

 

Establishment:             22nd September, 2009.

 

Organization:                 Sole Proprietorship.

 

Capital:                          Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

c/o Success Business Centre

Unit 1006, 10/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

 

Associated/Affiliated Companies:-

Divine Impex

Flat 1, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

Glow Star

Suite 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.  (Same owner)

 

 

BUSINESS REGISTRATION NUMBER

 

51189441-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Amitkumar Chhanalal Shah

 

 

SOLE PROPRIETOR

 

Name:  Mr. Amitkumar Chhanalal SHAH

Residential Address:      21/A, Baba Ramdas Building, Humucaloni Cross Road No. 2, Iraniwadi, Kandivali (W), India.

 

 

HISTORY

 

The subject was established on 22nd September, 2009 as a sole proprietorship concern owned by Mr. Amitkumar Chhanalal Shah under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat 1, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Room 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong in October 2009, and further moved to the present address in September 2010.

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.

 

Employees:                   Nil.

 

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

 

Markets:                       Hong Kong, Japan, 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:                Made a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Honeywell Impex is a sole proprietorship set up and owned by Mr. Amitkumar Chhanalal Shah who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office was in a commercial service firm located at Room 605, 6/F., Stag Building, 148‑150 Queen’s Road Central, Hong Kong known as KNG Consultants which is handling its correspondences and documents.  KNG Consultants is also an Indian firm operated by Nandan Kumar.

The subject moved to the present address in September 2010.  This address is the operating address of Success Business Centre which has had a number of branches in Hong Kong.

The subject is a diamond importer, exporter and wholesaler.  It is trading in single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc.  Most of the commodities are imported from India.  Prime markets are Hong Kong, Japan and the other Asian countries.  The subject is also a commission agent.  Business is still under development.

The subject is just a one-man-company.  History in Hong Kong is over one year and eight months.

The subject has got an affiliated company Divine Impex located at its old operating address.  Divine Impex is also a diamond trader.

Shah is also the owner of Glow Star which is located at a different address.  Established on 5th March, 2010, Glow Star is also a diamond trader.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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.