MIRA INFORM REPORT

 

 

Report Date :           

03.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SHREY  INTERNATIONAL

 

 

Registered Office :

Room 615A, 6/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

16.07.2005

 

 

Com. Reg. No.:

35827508-000-07

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Coloured gemstones, diamonds, 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     

 

SHREY INTERNATIONAL

 

 

company ADDRESS    

 

Room 615A, 6/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

PHONE:            2721 4630,  2180 7475

FAX:                 2721 4617,  3011 6225

 

 

MANAGEMENT

 

Manager:  Mr. Dharmendra Mutha  (Mobile: 9196 4709)

 

 

SUMMARY

 

Establishment:                          16th July, 2005.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 615A, 6/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35827508-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Dharmendra Mutha

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Dharmendra MUTHA

Residential Address:      14A, Kok Pah Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 16th July, 2005 as a sole proprietorship concern owned by Mr. Dharmendra Mutha under the Hong Kong Business Registration Regulations.

Initially the subject was located at 13B, Kok Pah Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in November 2006.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Coloured gemstones, diamonds, etc.

 

Employees:                   2.

 

Commodities Imported:   India, Europe, etc.

 

Markets:                       India, Taiwan, Japan other Asian countries, Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a normal manner.

 

Facilities:                      Making 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

 

Shrey International is a sole proprietorship set up and owned by Mr. Dharmendra Mutha who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  Mutha is also the Manager of the subject.  He can be reached at his mobile phone number 852‑9196 4709.

Business commenced in July 2005, the subject moved to the present address in November 2006.

The subject is a diamond importer, exporter and wholesaler.  It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts.  The subject is carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, etc.  It also trades in coloured gemstones.  The followings are the subject’s main commodities:-

·         Loose Ruby Stone

·         Loose Topaz Stone

·         Loose Emerald Stone

·         Imperial Garnet

Most of the commodities are sourced from India and some of the European countries.  Some of the rough diamonds and gemstones are polished, cut or processed in Hong Kong.  Finished products and polished diamonds are exported or re-exported to Japan and the other Asian countries.  Business is rather active.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it takes part in Hong Kong International Jewellery Show which is held in Hong Kong every year.

The history of the subject in Hong Kong is over five years and nine months.  Business is chiefly handled by Dharmendra Mutha himself.

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.44.33

UK Pound

1

Rs.73.89

Euro

1

Rs.65.57

 

 

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.