MIRA INFORM REPORT

 

 

Report Date :

07.10.2011

 

IDENTIFICATION DETAILS

 

Name :

VEE  DESIGN  (HK)  LTD.

 

 

Registered Office :

Unit Q10, 6/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hung Hom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

13.04.2007

 

 

Com. Reg. No.:

37823352

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of jewellery and diamonds.

 

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 :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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 and address

 

VEE  DESIGN  (HK)  LTD.

 

 

ADDRESS:       Unit Q10, 6/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.

 

PHONE:            3549 6797

 

FAX:                 3747 7384

 

 

MANAGEMENT

 

Managing Director:  Mr. Pradip Natubhai Sanchpara

 

 

SUMMARY

 

Incorporated on:             13th April, 2007.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                    2.

 

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

 

Banking Relation:            Satisfactory.

ADDRESS

 

Registered Head Office:-

Unit Q10, 6/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.

 

Holding Company:-

Diaspark N.V., Belgium.

 

 

BUSINESS REGISTRATION NUMBER

 

37823352

 

 

COMPANY FILE NUMBER 

 

1123221

 

 

MANAGEMENT

 

Managing Director:  Mr. Pradip Natubhai Sanchpara

 

 

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

 

 

SHAREHOLDER

(As per registry dated 13-04-2011)

 

Name

 

No. of shares

Diaspark N.V.

2018 Antwerp, Pelikaan Straat 62, Office 627, Belgium.

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 13-04-2011)

 

Name

(Nationality)

 

Address

Pradip Natubhai SANCHPARA

1772/A/2 Sarvoday Soc Bh Vikram, Bunglows Sardarnagar, Bhavnagar-364001, India.

 

 

SECRETARY

(As per registry dated 13-04-2011)

 

Name

Address

Co. No.

Champion Corporate Ltd.

Room 2002, 20/F., Emperor Group Centre, 288 Hennessy Road, Wanchai, Hong Kong.

0657221

 

 

HISTORY

 

The subject was incorporated on 13th April, 2007 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 and diamonds.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, etc.

 

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

 

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

 

 

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:                Kept a balance account in 2010.

 

Condition:                      Business is improving.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Vee Design (HK) Ltd. is a wholly-owned subsidiary of Diaspark N.V. which is a Belgium-based firm.

The subject is located at a business centre specially for diamond traders located at Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.

The Managing Director of the subject Mr. Pradip Natubhai Sanchpara is an Indian who is an India passport holder.  Currently he is residing in India.

The subject is trading in diamond necklaces, round brilliant diamonds, loose diamonds, etc.  Its diamonds are more than one carets and less than one carats GIA, IGI white single cut diamonds, white full cut diamonds, dark brown diamonds, etc.  Most of its commodities are imported from India and Belgium.  Prime markets are Hong Kong, Japan, other Asian countries, Europe, etc.  Business improving.

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 is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2012.

The history of the subject in Hong Kong is just over four years and five months.

On the whole, consider the subject good for normal business engagements in small credit amounts.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

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.