MIRA INFORM
REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
DORERA
LTD. |
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Registered Office : |
Room 505, 5/F., Peter Building, 58 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.12.1985 |
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Com. Reg. No.: |
10115524 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of jewellery, gemstones, jade, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Exists |
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) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
DORERA LTD.
Company ADDRESS
Room 505, 5/F., Peter Building, 58 Queen’s Road Central, Hong Kong.
PHONE: 2521 4336, 2526 5194
FAX: 2845 9276, 2877 2445
E-MAIL: dorera@carnetjewellery.com
MANAGEMENT
Managing Director: Mr. Avraham Nagar
SUMMARY
Incorporated on: 13th December, 1985.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Jewellery Trader.
Annual Turnover: HK$60~65 million.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 505, 5/F., Peter Building, 58 Queen’s Road Central, Hong Kong.
Retailing Shops:- [Trading under
the name of “Carnet”]
Shop 119, Prince’s Building,
10 Charter Road, Central, Hong Kong.
[Tel: 2805 0113; Fax: 2805 0180]
Shop 114, Chater House, 8
Connaught Road Central, Hong Kong.
[Tel: 2805 0118, 2805 0117]
Holding Companies:-
Russelli Inc., Republic of Liberia.
Tranquilla Inc., British Virgin Islands.
BUSINESS REGISTRATION NUMBER
10115524
COMPANY FILE NUMBER
0163135
MANAGEMENT
Managing Director: Mr. Avraham Nagar
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 13-12-2010)
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Name |
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No. of shares |
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Russelli Inc. 80 Broad Street, City of Monrovia, County of Montserrado, Republic of Liberia. |
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5,000 |
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Tranquilla Inc. P.O. Box 3174, Road Town, Tortola, British Virgin Islands. |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 13-12-2010)
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Name (Nationality) |
Address |
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Avraham NAGAR |
Flat A, 19/F., Hollywood Heights, 6 Old Peak Road, Hong Kong. |
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Michelle ONG |
Flat B, 20/F., Hollywood Heights, 6 Old Peak Road, Hong Kong. |
SECRETARY
(As per registry dated 13-12-2010)
|
Name |
Address |
Co.
No. |
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Benta Nominees Ltd. |
20/F., Tung Wai Commercial Building, |
0042671 |
HISTORY
The subject was incorporated on 13th December, 1985 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of jewellery, gemstones, jade, etc.
Employees: 8.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Hong Kong, Japan, Southeast Asia, Europe, Middle East, etc.
Annual Turnover: HK$60~65 million.
Terms/Sales: COD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Diamond Federation of Hong Kong, China Ltd., Hong Kong.
Hong Kong Jewellery & Jade Manufacturers Association, Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active and satisfactory 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: Normal.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Dorera Ltd. is equally held by Russelli Inc. and Tranquilla Inc. The former was registered in the Republic of Liberia while the latter was registered in the British Virgin Islands.
The subject in fact is controlled by Mr. Avraham Nagar who is an Indian and Ms. Michelle Ong who is a Hong Kong businesswoman. Avraham Nagar is an Indian who is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject has been operating a firm known as “Carnet” located at its operating office. Carnet and the subject are engaged in the same lines of business.
Carnet is a jeweller with an international presence. Founded by Ms. Michelle Ong and Mr. Avi Nagar, Carnet has had two retailing outlets which are located in Central, Hong Kong. The two outlets mainly receive tourists.
Besides the Hong Kong outlets, Carnet also has set up a retailing shop in New York, the United States.
The products of the subject and Carnet are bracelets, brooches, earrings, necklaces, rings, pendants, timepieces, The Da Vinci Code, etc. Raw materials such as polished and cut diamonds, rough diamonds are imported from India, other Asian countries and Europe. The subject also exports its products to Japan, Europe, Southeast Asia, etc. Business is active.
Ms. Michelle Ong was born and lives in Hong Kong, but spent part of her formative years in North America. She is a famous jewellery designer. She is also a member of Board of Governors of Hong Kong Philharmonic Orchestra and Honorary Vice President of the Girl Guides Association. She has three children.
The subject is a member of Diamond Federation of Hong Kong, China Ltd. which is a Hong Kong-based association. Representatives of the subject are Ms. Michelle Ong, Mr. Avraham Nagar and Ms. Reggie Yu Kim Har. The third seems to be an employee of the subject.
In late 2003, the subject got a litigation involving in an amount due of over HK$530,000.00. However, no more litigation has been heard since then.
The annual sales turnover of the subject ranges from HK$60 to 65 million. Making a small profit every year. Regular suppliers and customers have been maintained.
As the history of the subject in Hong Kong is over twenty-five years and four months, on the whole, consider it good for normal business engagements.
REMARKS:
Court case record:-
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Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Dec. 2003 |
H106 |
L.P. Contractors & Construction Co. (Hong Kong) Ltd. |
Dorera Ltd. |
Money Due/Owing |
HK$536,003 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.44.34 |
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|
1 |
Rs.73.70 |
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Euro |
1 |
Rs.65.75 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.