MIRA INFORM
REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PRATEEK
EXPORTS LTD. |
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Registered Office : |
Flat D & E, 8/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.12.2008 |
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Com. Reg. No.: |
50109894 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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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
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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 |
Bottom of Form
Company name
PRATEEK EXPORTS LTD.
Company ADDRESS
Flat D & E, 8/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2367 5960
FAX: 2367 6675
E-MAIL: prateekexp@netvigator.com
MANAGEMENT
Managing Director: Mr. Sunil Jain
SUMMARY
Incorporated on: 12th December, 2008.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Diamond Trader.
Annual Turnover: US$15~20 million (Including associate)
Employees: 7. (Including associate)
Main Dealing Banker: Dah Sing Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Flat D & E, 8/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
Associated Company:-
Prateek Exports, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
50109894
COMPANY FILE NUMBER
1294059
MANAGEMENT
Managing Director: Mr. Sunil Jain
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDER
(As per registry dated 12-12-2010)
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Name |
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No. of shares |
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Sunil JAIN |
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1,000,000 ======= |
DIRECTOR
(As per registry dated 12-12-2010)
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Name (Nationality) |
Address |
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Sunil JAIN |
Flat B, 11/F., Emperor Heights, 5 Cox’s Road, Jordan, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 12-12-2010)
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Name |
Address |
Co.
No. |
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Normsun Corporate Secretarial Services Ltd. |
Room 2403, 24/F., Tung Wai Commercial Building, 109-111 Gloucester Road, Wanchai, Hong Kong. |
0893275 |
HISTORY
The subject was incorporated on 12th December, 2008 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 and Exporter.
Lines: All kinds of diamonds.
Employees: 7. (Including associate)
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, India, other Asian countries, etc.
Annual Turnover: US$15~20 million (Including associate)
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Indebtedness: HK$7,811,080.43 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 12-12-2010)
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit.
Condition: Keeping in a rather active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Dah Sing Bank Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 1 million ordinary shares of HK$1.00 each, Prateek Exports Ltd. is wholly owned by Mr. Sunil Jain who is an Indian and has been in Hong Kong for a very long time. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. Jain is also the only director of the subject.
The subject has had an associated company Prateek Exports located at its operating office. Established on 8th January 1990, Prateek Exports is a diamond trader, so does the subject. Prateek Exports is a sole proprietorship owned by Jain.
The subject is trading in loose diamonds, single cut diamonds, tapper cut diamonds, full cut diamonds, etc. Most of the products are for watches and jewellery. Raw materials are chiefly imported from India. Rough diamonds are polished or processed in Hong Kong. Finished products are exported to the other Asian countries, Europe, the Middle East, etc. The subject has developed long term business ties with suppliers in India and buyers in Asia and the Middle East.
The total annual sales turnover of the subject and Prateek Exports ranges from US$15 to 20 million. Chiefly handled by Jain, the subject’s business is rather active and profitable.
The history of Prateek Exports is over twenty-one years and four months in Hong Kong.
On the whole, the subject is considered good for normal business engagements.
REMARKS:
Court Cases: None per our.
Property information of the company:-
Property Location: Unit 1 on 10/F., Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.
Owner: Prateek Exports Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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01-11-2010 |
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Dah Sing Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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01-11-2010 |
Instrument: Mortgage Property: 198/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No. 8670, Kowloon Inland Lot No.8567 and Kowloon Inland Lot No.7074 (Unit 1 on 10/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: Dah Sing Bank Ltd., Hong Kong. |
To secure all money in respect of general banking facilities |
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01-11-2010 |
Instrument: Rental Assignment Property: 198/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No. 8670, Kowloon Inland Lot No.8567 and Kowloon Inland Lot No.7074 (Unit 1 on 10/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: Dah Sing Bank Ltd., Hong Kong. |
To secure all money in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.07 |
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UK Pound |
1 |
Rs.63.57 |
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Euro |
1 |
Rs.72.97 |
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.