MIRA INFORM REPORT

 

 

Report Date :           

25.03.2011

 

IDENTIFICATION DETAILS

 

Name :

BRIGHTEX  ENTERPRISES

 

 

Registered Office :

Unit E, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.08.1986

 

 

Com. Reg. No.:

10478461-000-08

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of mobile phones, accessories, semiconductors, computer hardware and software, peripheral, drives and storage devices, 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 – 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

 

BRIGHTEX  ENTERPRISES

 

 

Company ADDRESS

 

Unit E, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon, Hong Kong.

PHONE:                        2367 8582,  3962 2200

FAX:                 2311 1469

E-MAIL:            sales@brightex.net

 

 

MANAGEMENT

 

Manager:  Mr. Rama Kant Agrawal

 

 

SUMMARY

 

Establishment:                          21st August, 1986.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Annual Turnover:            US$20~25 million.

 

Employees:                   5.

 

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

 

Banking Relation:           Satisfactory.

Company address

 

Head Office:-

Unit E, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon, Hong Kong.

 

Affiliated Companies:-

·         Brightex (Pvt) Ltd., Hong Kong.  [Also trading as Brightex Enterprises (BR No. 30900256-002)]  (Same address)

·         Brightex Distribution Pakistan Pvt. Ltd., Pakistan.

·         Brightex Enterprises UK Ltd., UK.

·         Brightex Singapore Pte. Ltd., Singapore.

 

 

BUSINESS REGISTRATION NUMBER

 

10478461-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Rama Kant Agrawal

 

 

PARTNERS

 

Name:                           Rama Kant AGRAWAL

Residential Address:      Flat E, 4/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Usa AGRAWAL

Residential Address:      Flat E, 4/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was originally established on 21st August, 1986 as a sole proprietorship concern owned by Mr. Rama Kant Agrawal under the Hong Kong Business Registration Regulations.  Converted into a partnership firm in August 1990.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Rama Kant AGRAWAL

21-08-1986

-

Govind Lal SANGHAI

01-08-1990

13-08-1992

Usa AGRAWAL

13-08-1992

-

 

Initially the subject was located at Flat E, 4/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon, Hong Kong, moved to Room 714, 7/F., Wing On Plaza, 62 Mody Road, Tsimshatsui, Kowloon, Hong Kong in November 2000; and further to the present address in 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 mobile phones, accessories, semiconductors, computer hardware and software, peripheral, drives and storage devices, etc.

 

Employees:                               5.

 

Commodities Imported:               China, other Asian countries, etc.

 

Markets:                                   Hong Kong, India and the Middle East.

 

Annual Turnover:                        US$20~25 million.

 

Terms/Sales:                             On various terms.

 

Terms/Buying:                           L/C or as per contracted.

 

 

FINANCIAL INFORMATION

 

Capital:                                     Not disclosed.

 

Profit & Loss:                            Traded at a small profitable angle.

 

Condition:                                  Keeping in a normal condition.

 

Facilities:                                  Making active use of general banking facilities.

 

Payment:                                  Met trade commitments on time.

 

Commercial Morality:                 Satisfactory.

 

Banker:                                     Indian Overseas Bank, Hong Kong Branch.

 

Standing:                                  Small.

 

GENERAL

 

Brightex Enterprises is a partnership jointly owned by Rama Kant Agrawal and Usa Agrawal.  Both are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

According to the subject, it is one of the leading mobile phones distributing companies in Hong Kong having offices in Singapore, China, India, Bangladesh, the United Kingdom and Dubai.  Since its inception in 1986, the subject has grown significantly in terms of turnover, staff strength and even geographical coverage.

The subject is a manufacturer of GSM mobile phones under the name and style of “R.Tec”, “Sky Tec” and “Itel”.  Besides, its Tecno and Maximus mobile phones have been exported to worldwide countries.  The subject’s affiliated factory is in China employing about 100 people.

The subject is one of the distributors of VA Cell Inc. which is one of the leading cellphone distribution companies with a network across the United States, Latin America and the Caribbean.  VA Cell Inc. is in Miami of the United States.  As a vital link in the cellphone value chain, VA Cell Inc. creates sales and profitability opportunities for vendors, carriers and resellers through unique marketing programs, outsourced logistics services, technical support, product aggregation and distribution.

VA Cell Inc. is the dealer of the following products: Sony Ericsson, HTC, SBB, Blackberry, NOKIA, LG, Samsung, etc.  The subject also trades in the above-mentioned products.

The subject trades in electronic components and semi-conductors for more than twenty years.  It is doing volume business in Hynix, Issi, and Samsung semiconductors.  It also trades in computer hardware and software, peripheral, drives and storage devices, etc.  Business is rather active.

The annual sales turnover of the subject ranges from US$20 to 25 million.  Making a small profit every year.

As the history of the subject in Hong Kong is over twenty-four years and seven 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.44.77

UK Pound

1

Rs.72.66

Euro

1

Rs.63.06

 

 

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.