MIRA INFORM REPORT

 

 

Report Date :           

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

PANCHAGULI  COMPANY

 

 

Registered Office :

c/o WinGate Business Ltd., Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.02.2011

 

 

Com. Reg. No.:

53761027-000-02

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New 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 

 

PANCHAGULI  COMPANY

 

 

Company ADDRESS

 

c/o WinGate Business Ltd.

Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.

PHONE:            2830 9999

FAX:                 2830 9998

 

 

MANAGEMENT

 

Manager:  Mr. Bhanuchandra Vrajlal Laljee

 

 

SUMMARY

 

Establishment:                          21st February, 2011.

 

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:           Too early to comment.

Company ADDRESS

 

Registered Head Office:-

c/o WinGate Business Ltd.

Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

53761027-000-02

 

 

MANAGEMENT

 

Manager:  Mr. Bhanuchandra Vrajlal Laljee

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Bhanuchandra Vrajlal LALJEE

Residential Address:      Flat 606, 6/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 21st February, 2011 as a sole proprietorship concern owned by Mr. Bhanuchandra Vrajlal Laljee under the Hong Kong Business Registration Regulations.

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, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, other Asian 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:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

Panchaguli Company is a sole proprietorship set up and owned by Mr. Bhanuchandra Vrajlal Laljee who is an Indian.  Laljee is a UK-passport holder and does not have the right to reside in Hong Kong permanently.

The subject commenced business in February 2011.  It does not have its own operating office.  Its registered office is in a commercial service firm located at Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong known as WinGate Business Ltd. which is handling its correspondences and documents.  This firm also offers the subject with other related services.  The subject has no employees in Hong Kong.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds.  It carries those loose diamonds like marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut, etc.  Commodities are chiefly imported from India.  Products are marketed in Hong Kong, exported to Japan, other Asian countries, the United Kingdom, etc.  It is likely that United Kingdom is the prime market of the subject.  The subject is also a commission agent.

It is likely that the subject has got an associated company in the United Kingdom which is also operated by Laljee.  However, details are unknown.

It is likely that the UK firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The UK firm also exports diamonds to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is just over four months.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.05

UK Pound

1

Rs.71.92

Euro

1

Rs.64.37

 

 

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.