MIRA INFORM
REPORT
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Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
PROFIT
CROWN ENTERPRISES LTD. |
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Registered Office : |
Room 1215, 12/F., Fu Hang Industrial Building, 1 Hok Yuen
Street East, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.06.1993 |
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Com. Reg. No.: |
18624066 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of jewellery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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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
PROFIT CROWN ENTERPRISES LTD.
Company ADDRESS
Room 1215, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2314 7585
FAX: 2723 7585
E-MAIL: tnkgems@netvigator.com
MANAGEMENT
Managing Director: Mr. Bhaven Nayan Jhaveri
SUMMARY
Incorporated on: 15th June, 1993.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Jewellery Trader.
Employees: 3. (Including affiliates)
Main Dealing Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 1215, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
P.O. Box 98085, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Business Names:- (Same BR No. and same address)
T.N.K. Gems, Hong Kong.
Moksh, Hong Kong.
Affiliated
Companies:-
Aki Enterprises, Hong Kong. (Same address)
Kokusai Shinju Co. Ltd., Japan.
Oasis Jewellery Ltd., Hong Kong. (Same address)
Tanvirkuma Diamonds Ltd., India.
BUSINESS REGISTRATION NUMBER
18624066
COMPANY FILE NUMBER
0427263
MANAGEMENT
Managing Director: Mr. Bhaven Nayan Jhaveri
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
SHAREHOLDERS
(As per registry
dated 15-06-2010)
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Name |
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No. of shares |
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Kuntal SHAH |
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2,500,000 |
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Hitesh R. JHAVERI |
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2,500,000 |
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–––––––– |
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Total: |
5,000,000 ======= |
DIRECTORS
(As per registry
dated 16-03-2011)
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Name (Nationality) |
Address |
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Hitesh R. JHAVERI |
Flat A, 10/F., Garden Mansion, 154-156 Austin Road, Tsimshatsui, Kowloon, Hong Kong. |
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Bhaven Nayan JHAVERI |
Flat J, 10/F., Block 2, Royal Peninsula, Hunghom, Kowloon, Hong Kong. |
SECRETARY
Bhaven Nayan
JHAVERI (As per registry dated
16-03-2011)
HISTORY
The subject was incorporated on 15th June, 1993 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of jewellery.
Employees: 3. (Including affiliates)
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, South Korea, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met on time.
Commercial Morality: Satisfactory.
Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Standing: Normal.
GENERAL
Having issued 5 million ordinary shares of HK$1.00 each, Profit Crown Enterprises Ltd. is equally owned by Mr. Kuntal Shah and Mr. Hitesh R. Jhaveri. Both of whom are Indian. The latter is also the director of the subject. Kuntal Shah has ceased to be the director of the subject since 16th March, 2011. The new director of the subject Mr. Bhaven Nayan Jhaveri is also the individual secretary of the subject.
The subject is sharing the office with Oasis Jewellery Ltd. [Oasis] which is a Hong Kong-registered firm. Oasis is chiefly owned by Mr. Jigesh Satish Shah who is holding 95%, and the balance 5% is held by Mr. Minal Kuntal Shah. Recently, the registered address of Oasis has changed to the residential address of its directors. All the Shahs belong to the same family.
The subject has been operating two companies T.N.K. Gems and Moksh which are also located at the same operating office. T.N.K. Gems, Moksh and the subject are engaged in the same lines of business.
The subject is a polished diamond trader, rough diamond supplier and jewellery manufacturer. Business has been active. It is also the agent of Eternity Jewels which is an India-based firm. Eternity Jewels has got other liaison offices in the United States, Japan, Thailand and affiliated firm in other countries of the world.
The subject also has got an affiliated factory Tanvirkuma Diamonds Ltd. which is an India-based firm. Tanvirkuma Diamonds is the subject’s main supplier.
The subject’s products are exported to Japan, South Korea, other Asian countries, Europe, North America, etc. Business is active.
The subject’s business is mainly handled by Bhaven Nayan Jhaveri. Long term business ties have been developed with some local and foreign buyers.
As the history of the subject in Hong Kong is about eighteen years, on the whole, consider it good for normal business engagements.
COURT CASES: None per our.
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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02-04-2002 |
Instrument: Charge on All Deposits to secure Obligations of the Chargor Property: All the right, title and interest of the Company whatsoever, present and future, in and to: (a) the Deposits; (b) all interest accruing from time to time on the Deposits; (c) without limitation of the foregoing, any rights the Company may have individually or any rights the Company may have through the Bank now or hereafter arising in or to any deposit account of the Company with the Bank; and (d) any certificate or other instruments relating to any or all of the above Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
All moneys and obligations and liabilities |
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15-07-2004 |
Instrument: Debenture Property: All the Company’s undertaking and property and assets Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
In consideration of the Bank agreeing to grant general banking facilities to the Company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.77 |
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UK Pound |
1 |
Rs.73.45 |
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Euro |
1 |
Rs.64.55 |
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.