MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KUMKUM
TRADING FZC |
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Registered Office : |
c/o Wingate Business Group Ltd., Suite 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.03.2010 |
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Com. Reg. No.: |
51943716-000-03 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler
of Diamonds, gemstones, jewellery, etc. |
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 : |
Unknown |
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Litigation : |
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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
KUMKUM TRADING
FZC
company ADDRESS
c/o Wingate Business Group Ltd.
Suite 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
PHONE: 2830 9999
FAX: 2830 9998
MANAGEMENT
Manager: Mr. Rajesh Bhupatrai Kamdar
SUMMARY
Establishment: 18th March, 2010.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
c/o Wingate Business Group Ltd.
Suite 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Associated/Affiliated
Companies:-
· Anjali Diam, Hong Kong.
· Arpit Trading, Hong Kong.
· Arrow Diamond, Hong Kong.
· Oracle Impex, Hong Kong.
· Rejoice Trading FZC, Hong Kong.
BUSINESS REGISTRATION NUMBER
51943716-000-03
MANAGEMENT
Manager: Mr. Rajesh Bhupatrai Kamdar
SOLE PROPRIETOR
Name: Mr. Rajesh Bhupatrai KAMDAR
Residential Address: 505/A,
Nagwekar II CH5, Akruti Main Road, Kandiwalt (E), Mumbai-101, India.
HISTORY
The subject was established on 18th March, 2010 as a sole proprietorship concern owned by Mr. Rajesh Bhupatrai Kamdar under the Hong Kong Business Registration Regulations.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Diamonds, gemstones, jewellery, etc.
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: Hong Kong, other Asian countries, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Kumkum Trading FZC is a sole proprietorship set up and owned by Mr. Rajesh Bhupatrai Kamdar who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
Kamdar is the manager of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Suite 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong known as Wingate Business Ltd. which is handling its correspondences and documents.
The subject has no employees in Hong Kong.
The subject is trading in loose diamonds, emerald, precious stones, colour stones, ruby jade, gem sets, etc. Raw materials and rough diamonds are imported from India, Belgium, other European countries, etc. Jewellery products and polished diamonds are marketed in Hong Kong, exported or re‑exported to Japan, other Asian countries, Europe, etc. Business is improving.
According to the subject, it is also trading in other products entrusted by customers. It is also a commission agent.
Besides the subject, Kamdar is operating another firm known as Rejoice Trading FZC [Rejoice] which is located at a different address.
Rejoice does not have its own operating office. Its registered office is in an accountant firm located at Unit B, 14/F., Empireland Commercial Centre, 81‑85 Lockhart Road, Wanchai, Hong Kong known as CCS & Company which is handling its correspondences and documents. Rejoice also has no employees in Hong Kong.
Rejoice is a member of the Rejoice Group. Rejoice Group is a young dynamic business group in the United Arab Emirates, with significant involvement in food distribution, international trade, building material trading, electrical products, navigational aids, instrumentation, industrial and oil field supplies, machineries and material handling equipments, safety products, raised flooring, indenting and corporate services.
The history of the subject in Hong Kong is just about a year and six months.
On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.81 |
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UK Pound |
1 |
Rs.75.16 |
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Euro |
1 |
Rs.65.11 |
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.