MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

WICKRICH  LTD.

 

 

Registered Office :

Flat D4, 14/F., Winston Mansion, 121-123 Chatham Road South, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.09.2009

 

 

Com. Reg. No.:

51553826

 

 

Legal Form :

Private Limited Company.

 

 

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 :

Unknown

 

 

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  

 

WICKRICH  LTD.

 

 

Company ADDRESS

 

Flat D4, 14/F., Winston Mansion, 121-123 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Managing Director:  Mr. Rajkumar Sancheti

 

 

SUMMARY

 

Incorporated on:             9th September, 2009.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$1.00

 

Business Category:        Diamond Trader.

 

Employee:                     1.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Flat D4, 14/F., Winston Mansion, 121-123 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Company:-

Fortune Jewellery, Hong Kong.  (Same owner and same address)

 

 

BUSINESS REGISTRATION NUMBER 

 

51553826

 

 

COMPANY FILE NUMBER

 

1371637

 

 

MANAGEMENT

 

Managing Director:  Mr. Rajkumar Sancheti

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

 

SHAREHOLDER  

(As per registry dated 09-09-2010)

 

Name

 

No. of share

Rajkumar SANCHETI

 

1

=

 

DIRECTOR    

(As per registry dated 09-09-2010)

 

Name

(Nationality)

 

Address

Rajkumar SANCHETI

20 Om Dariya Mahal, 80 Neapen Sea Road, Mumbai, Maharashtra, India.

 

 

SECRETARY

(As per registry dated 09-09-2010)

 

Name

Address

Co. No.

Akin Professionals Ltd.

20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.

1273165

 

 

HISTORY

 

The subject was incorporated on 9th September, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Unit H, 9/F., Windsor Mansion, 29‑31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from 15th December, 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, emerald, precious stones, etc.

 

Employee:                     1.

 

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

 

Markets:                       Hong Kong, Japan, other Asian countries, Middle East, etc.

 

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

 

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

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1.00

 

Profit or Loss:                Suffering from a small loss in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Fairly satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Wickrich Ltd. is wholly-owned by Mr. Rajkumar Sancheti who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  However, most of the time, Sancheti is residing in Dubai, the United Arab Emirates.  He is also the only director of the subject.

The subject has had an associated company Fortune Jewellery [Fortune] located at its operating address.  Fortune is a sole proprietorship set up and owned by Sancheti.

The subject and Fortune are located at Flat D4, 14/F., Winston Mansion, 121‑123 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong where is in a private building.  The subject and Fortune are engaged in the same lines of business.

The subject is trading in loose diamonds, emerald, precious stones, etc.  Raw materials are imported from India, Belgium and other European countries.  Diamonds are processed, polished and cut in Hong Kong or China.  Finished products are marketed in Hong Kong, exported to Asian countries, Europe, the Middle East, etc.

It is likely that the subject has got an associated company which is also operated by Sancheti in the United Arab Emirates.  The subject is responsible for the sourcing of products and commodities for the United Arab Emirates firm.

The subject’s business is chiefly handled by Sancheti himself.  Business is still under development.

Since the history of the subject is just over a year and nine months, on the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

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.