MIRA INFORM REPORT
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Report Date : |
04.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ABEE
IMPEX |
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Registered Office : |
Room 1225, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.04.1991 |
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Com. Reg. No.: |
14399546-000-04 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery, diamond watches, 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 : |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
ABEE IMPEX
Company ADDRESS
Room 1225, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2723 8220
FAX: 2723 8330
E-MAIL: info@abeeimpex.com
MANAGEMENT
Manager: Mr. Bharatkumar Jairambhai Patel
SUMMARY
Establishment: 16th April, 1991.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: US$18~22 million.
Employees: 6.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Room 1225, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
Affiliated Company:-
Abee Impex Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
14399546-000-04
MANAGEMENT
Manager: Mr. Bharatkumar Jairambhai Patel
PARTNERS
Name: Mr. Bharatkumar Jairambhai PATEL
Residential Address: Flat F, 5/F., Henley House, 68-80 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Virendrakumar J. PATEL
Residential Address: C/3 Trikamnagar-1, Lambe Hanuman Road, Surai, India.
HISTORY
The subject was established on 16th April, 1991 as a sole proprietorship concern owned by Mr. Bharatkumar Jairambhai Patel under the Hong Kong Business Registration Regulations.
On 1st July, 1999, Mr. Virendrakumar J. Patel joined in as a partner and the subject has become a partnership since then.
Originally the subject was registered under the name of Superb Diamond, name changed to the present style on 11th April, 1996.
Initially the subject was located at Flat F, 5/F., Henley House, 68-80 Canton Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address of Mr. Bharatkumar Jairambhai Patel, moved to 14/F., Chun Fook Mansion, 1 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong in November 1994; to Flat B, 4/F., Kimbry Court, 58-60 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in May 1995; to Room 906, 9/F., Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in March 1997; to Flat C, 8/F., 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in August 2000; to Room 703, 7/F., Taurus Building, 21 Granville Road, Tsimshatsui, Kowloon, Hong Kong in December 2002; and further moved to the present address in May 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery, diamond watches, etc.
Employees: 6.
Commodities Imported: India, US, Europe, Asian countries, etc.
Markets: Taiwan, US, Germany, other European countries, etc.
Annual Turnover: US$18~22 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal state.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Abee Impex is a partnership jointly owned by Mr. Bharatkumar Jairambhai Patel and Mr. Virendrakumar J. Patel, both of whom are Indian and belong to the same family. Both are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
The subject has had an associated company Abee Impex Ltd. [AIL], a Hong Kong-registered firm, located at its operating address. AIL is also owned and operated by the Patel family. AIL and the subject are engaged in the same lines of business.
The subject is a manufacturer and wholesaler of the following products: marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut, etc. It also provides customers with a wide selection of diamonds and assortment in various sizes. Raw materials and products are imported from the United States, Europe and India. The subject has had a production base for diamonds in India. Finished products are exported to Taiwan, the United States, Germany, other European countries, etc. Besides diamond and jewellery, the subject also trades in gentlemen’s diamond watches, ladies’ diamond watch sets and watches. Its diamond watches bear their own brand name owned by the subject.
Besides, the subject actively markets its products to major jewellery and watch manufacturers from all over the world through major trade shows in Hong Kong with its dynamic sales team. Fairs and exhibitions participated in Hong Kong are such as Hong Kong International Jewellery Show, Hong Kong Jewellery & Watch Fair and Hong Kong Watch & Clock Fair, etc. The first is held in March, while the second and third are held in September every year.
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.
Annual sales turnover of the subject ranges from US$18 to 22 million. Business is rather active. Regular suppliers and overseas clients have been maintained.
As the subject’s history in Hong Kong is over twenty years and four months, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.90 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.65.41 |
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.