MIRA INFORM REPORT

 

 

Report Date :           

21.03.2011

 

IDENTIFICATION DETAILS

 

Name :

FAB  CRYSTAL

 

 

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 :

29.06.2010

 

 

Com. Reg. No.:

52512780-000-06

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

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

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

FAB  CRYSTAL

 

 

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. Nagesh Goose

 

 

SUMMARY

 

Establishment:                          29th June, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     Indian Overseas Bank, Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

c/o WinGate Business Ltd.

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

 

 

BUSINESS REGISTRATION NUMBER 

 

52512780-000-06

 

 

MANAGEMENT

 

Manager:  Mr. Nagesh Goose

 

 

SOLE PROPRIETOR

 

Name:                           Nagesh GOOSE

Residential Address:      Flat 203, 137, Nyniappa Naickan Street, Park Town, Chennai 600003, Tamilnadu, India.

 

 

HISTORY

 

The subject was established on 29th June, 2010 as a sole proprietorship concern owned by Mr. Ritesh Kailesh Chauhan under the Hong Kong Business Registration Regulations.

A new partner Mr. Nagesh Goose joined in on 8th July, 2010 while Ritesh Kailesh Chauhan retired on 16th July, 2010.  Now, the sole proprietor of the subject is Nagesh Goose.

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:                   Nil.

 

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

 

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

 

Terms/Sales:                 L/C, etc.

 

Terms/Buying:                L/C.

 

 

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:                         Indian Overseas Bank, Hong Kong Branch.

 

Standing:                      Small.

 

 

GENERAl

 

Fab Crystal is a sole proprietorship set up and owned by Mr. Nagesh Goose 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 is in a business centre located at Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong known as WinGate Business Ltd. which had handled its correspondences and documents.

The subject had no employees in Hong Kong.

The old proprietor Mr. Ritesh Kailesh Chauhan is operating another firm Windiam Trading Co. [Windiam].  Windiam is a sole proprietorship set up and owned by Chauhan on 19th January, 2006.  The registered address of Windiam is located at Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that this is the residence of Chauhan.

The subject and Windiam are engaged in the same lines of business.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose, cut and polished diamonds.  Raw materials and products are chiefly imported from India, Thailand, Belgium, etc.  Processed diamonds or jewellery products are marketed in Hong Kong and exported to the United States, Europe or the Middle East.  Business is fairly active.

The business of the subject is chiefly handled by Goose himself.

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.45.09

UK Pound

1

Rs.72.82

Euro

1

Rs.63.43

 

 

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%)

 

 

 

 

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.