MIRA INFORM REPORT

 

 

Report Date :

09.09.2011

 

IDENTIFICATION DETAILS

 

Name :

A.  V.  S.  EXPORTS  LTD.

 

 

Registered Office :

Unit A, 6/F., Prat Commercial Building, 17-19 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

05.06.2000

 

 

Com. Reg. No.:

30983509

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

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

 

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 

 

A.  V.  S.  EXPORTS  LTD.

 

 

company ADDRESS    

 

Unit A, 6/F., Prat Commercial Building, 17-19 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                  3101 9778

 

FAX:                       3407 9312

 

E-MAIL:                  avsexpltd@netvigator.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Sachin Shashikant Shah

 

 

SUMMARY

 

Incorporated on:             5th June, 2000.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:              HK$10,000.00

                               Issued:                 HK$10,000.00

 

Business Category:       Diamond Trader.

 

Employees:                   2.

 

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

 

Banking Relation:         Satisfactory.

 

company ADDRESS

 

Registered Head Office:-

Unit A, 6/F., Prat Commercial Building, 17-19 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

Fantasy Jewelry Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER 

 

30983509

 

 

COMPANY FILE NUMBER

 

  0719248

 

 

MANAGEMENT

 

Managing Director:  Mr. Sachin Shashikant Shah

Contact Person:  Ms. Elsa Chung

 

 

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 05-06-2011)

 

Name

 

No. of shares

Sachin Shashikant SHAH

 

5,000

Vrunali Sachin SHAH

 

5,000

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTORS

(As per registry dated 05-06-2011)

 

Name

(Nationality)

 

Address

Sachin Shashikant SHAH

Flat B, 3/F., 83-85 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Vrunali Sachin SHAH

Flat B, 3/F., 83-85 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 05-06-2011)

 

Name

Address

Co. No.

Excel Secretaries Ltd.

Room 1003, 10/F., World Wide House, 19 Des Voeux Road Central, Hong Kong.

0541950

 

 

HISTORY

 

The subject was incorporated on 5th June, 2000 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject moved to the present address in August 2005.

Formerly the subject was located at Unit A, 5/F., Prat Commercial Building, 17-19 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Unit A, 6/F. of the same building in March 2009.

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

 

OPERATIONS

 

Activities:                Importer, Exporter and Wholesaler.

 

Lines:                     All kinds of diamonds and jewellery.

 

Employees:             2.

 

Commodities

Imported                  India, Belgium, other European countries, other Asian countries, etc.

 

Markets:                 Japan, other Asian countries, Middle East, USA, Europe, 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:                   Making a small profit every year.

 

Condition:                        Keeping in an active condition.

 

Facilities:                         Making rather active use of general banking facilities.

 

Payment:                        Met obligations on time.

 

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, A. V. S. Exports Ltd. is equally owned by two Indian, Mr. Sachin Shashikant Shah and Mr. Vrunali Sachin Shah.  They are also directors of the subject.  The two Shahs are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

The subject is a diamond importer, exporter and wholesaler.  It has got an affiliated company Fantasy Jewelry Ltd. [Fantasy Jewelry] located at its operating address.  Incorporated on 1st August, 2003, Fantasy Jewelry is also a jewellery trader.  The brand name owned by Fantasy Jewelry is “Genie London”.  Fantasy Jewelry seems to be a business partner of the subject.

Business commenced in June 2000, the subject is trading in loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, etc.  Commodities are imported from India, Belgium and other European countries.  Gem stones and diamonds are processed, polished and cut in Hong Kong.  Finished products are marketed in Hong Kong, exported to Japan, other Asian countries, the Middle East, the United States, Europe, etc.  Business is steady.

The subject’s business is chiefly handled by the two Shahs who have had close business ties with some of the diamond firms in India.

The contact person of Fantasy Jewelry is Ms. Elsa Chung who is a Hongkongnese.  She is also the contact person of the subject.

In October 2009, the subject was sued by the Secretary for Justice of Hong Kong for a minor case, however, details were unknown.

Having a history of over eleven years in Hong Kong, on the whole, the subject is considered good for normal business engagements.

 

COURT CASES             None per our.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.18

UK Pound

1

Rs.73.65

Euro

1

Rs.64.95

 

 

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.