MIRA INFORM REPORT

 

 

Report Date :

22.06.2011

 

IDENTIFICATION DETAILS

 

Name :

STAROUGH  (H.K.)  LTD.

 

 

Registered Office :

Room 1204, 12/F., Winfield Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

24.12.2004

 

 

Com. Reg. No.:

35220847

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

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

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Regular

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

 

STAROUGH  (H.K.)  LTD.

 

 

Company ADDRESS

 

Room 1204, 12/F., Winfield Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2739 3021,  2186 6196

FAX:                 2739 3121,  2186 6197

E-MAIL:            kotharip@netvigator.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Priyank Kothari

 

 

SUMMARY

 

Incorporated on:             24th December, 2004.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$100,000.00

Issued:              HK$2.00

 

Business Category:        Diamond Trader.

 

Employees:                   4.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 1204, 12/F., Winfield Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-

Kothari Group of Companies

Harshit Diamonds Pvt. Ltd., India.

Luminas BVBA, Belgium.

Russel Diamonds FZCO, UAE.

Star-Rough (ISR) Ltd., Israel.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

35220847

 

 

COMPANY FILE NUMBER 

 

0942223

 

 

MANAGEMENT

 

Managing Director:  Mr. Priyank Kothari

 

 

CAPITAl

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2.00

 

 

SHAREHOLDERS

(As per registry dated 24-12-2010)

 

Name

 

No. of shares

Russel Punit KOTHARI

 

1

Priyank KOTHARI

 

1

 

 

––

 

Total:

2

=

 

DIRECTORS

(As per registry dated 24-12-2010)

 

Name

(Nationality)

 

Address

Priyank KOTHARI

Flat G, 6/F., Kimberly 26, 26 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

Russel Punit KOTHARI

Flat G, 6/F., Kimberly 26, 26 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY

 

Priyank KOTHARI  (As per registry dated 24-12-2010)

 

 

HISTORY

 

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

Last time, the subject was located at c/o Dhun’s Management Services Ltd., 7/F., Man On Commercial Building, 12-13 Jubilee Street, Central, Hong Kong, moved to the present address with effect from 23rd May, 2008.

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, precious stones, etc.

 

Employees:                   4.

 

Commodities Imported:   India, Belgium, Israel, other European and Asian countries, etc.

 

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

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2.00

 

Profit or Loss:                Making a small profit in the past years.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather 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

 

Starough (H.K.) Ltd. is equally owned by Mr. Russel Punit Kothari and Mr. Priyank Kothari.  The subject has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.  The former is an India passport holder while the latter is a Hong Kong ID Card holder.  Both of them resided in Israel but now they have moved to Hong Kong.  Belonging to the same family, they are also directors of the subject.  Priyank Kothari has got the right to reside in Hong Kong permanently.  He is also the individual secretary and Managing Director of the subject.  The two shareholders have got business concerns in Israel.

The subject is a member of the Kothari Group which includes the following firms apart from the subject:-

Harshit Diamonds Pvt. Ltd., India

Luminas BVBA, Belgium

Russel Diamonds FZCO, UAE

Star-Rough (ISR) Ltd., Israel

The headquarters of the Group seem to be in India and control by the Kothari family.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose, cut and polished diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, etc.  Commodities are chiefly imported from India and Israel.

The subject has got a business partner Hausman Diamond in Ramat Gan, Israel.  Ramat Gan, Israel is the international headquarters of Hausman Diamond.  Hausman Diamond’s Hong Kong company is known as Hausman Diamond Manufacturers H.K. Ltd. [Hausman HK] which was incorporated on 23rd June, 2005.  Long time ago, the subject shared the same office with Hausman HK in Hong Kong.

Now, the subject’s products are marketed in Hong Kong, exported to the other Asian countries, Europe, the Middle East and North America.  Business is rather active.

The subject’s business has become active since early June 2008.  Its business is chiefly handed by Priyank Kothari who resides in Hong Kong.  Russel Punit Kothari is responsible for the business of Star-Rough (ISR) Ltd. which is an Israel-based firm.

The subject is fully supported by the Kothari Group.

The history of the subject in Hong Kong is over six years and a months.

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.44.91

UK Pound

1

Rs.72.90

Euro

1

Rs.64.48

 

 

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

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.