MIRA INFORM REPORT

 

 

Report Date :

26.09.2011

 

IDENTIFICATION DETAILS

 

Name :

CHINALINK  INDUSTRY

 

 

Registered Office :

C/o Louis Lai Co. Secretarial Services Ltd.

9/F., Surson Comercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.08.2006

 

 

Com. Reg. No.:

34244715-001-01

 

 

Legal Form :

Sole Ownership.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of gems, beads, diamonds, etc.

 

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 :

Moderate

 

 

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

 

CHINALINK  INDUSTRY

(Operated by ASIATIC TRADE LTD.)

 

 

Address:

c/o Louis Lai Co. Secretarial Services Ltd.

9/F., Surson Comercial Building,

140-142 Austin Road,

Tsimshatsui, Kowloon,

Hong Kong.

 

PHONE:                        2314 3668

 

FAX:                 2199 7822,  2314 3113

 

E-MAIL:                        gaurav@kataruka.com

 

 

MANAGEMENT

 

Manager:  Mr. Kishorilal Jhabarmal Kataruka

 

 

SUMMARY

 

Establishment:               2nd August, 2006.

 

Organization:                 Sole Ownership.

 

Capital:                         Not disclosed.

 

Business Category:        Jewellery Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     Bank of India, Hong Kong Branch.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

c/o Louis Lai Co. Secretarial Services Ltd.

9/F., Surson Comercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

Earth Stone Inc., India.

 

 

BUSINESS REGISTRATION NUMBER

 

34244715-001-01

 

 

MANAGEMENT

 

Manager:  Mr. Kishorilal Jhabarmal Kataruka

 

 

SOLE OWNER

 

Asiatic Trade Ltd., Hong Kong.  (See attachment)

 

 

HISTORY

 

The subject was established on 2nd August, 2006 as a sole ownership firm with Asiatic Trade Ltd. as the proprietor under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at 9/F., Surson Comercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong where is the operating office of Louis Lai Co. Secretarial Services Ltd., moved to 1/F., Xiu Ping Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong in February 2010, moved back to 9/F., Surson Comercial Building in March 2010.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of gems, beads, diamonds, etc.

 

Employees:                   Nil.

 

Commodities Imported:   Europe, India, other Asian countries, etc.

 

Markets:                       Europe, Middle East, South Korea, other Asian countries, Australia, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

Bank of India, Hong Kong Branch.

Indian Overseas Bank, Hong Kong Branch.

 

Standing:  Small.

 

 

GENERAL

 

Chinalink Industry is the business name of Asiatic Trade Ltd. [ATL] which is a Hong Kong-registered firm.  The subject is a gem, diamond and jewellery trader, so does ATL.

Having issued 1,000 ordinary shares of HK$10.00 each, ATL is equally owned by Kishorilal Jhabarmal Kataruka and Lata Kataruka, both of whom are India passport holders.  They are also directors of ATL and currently residing in Seoul, South Korea.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at 9/F., Surson Comercial Building, 140‑142 Austin Road, Tsimshatsui, Kowloon, Hong Kong known as Louis Lai Co. Secretarial Services Ltd. which is handling its correspondences and documents.  Louis Lai Co. Secretarial Services Ltd. is also the corporate secretary of ATL.

The registered address of ATL is located at a different address.  It is located at 1/F., Xiu Ping Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong where is the operating address of an accountant firm Fung & Pang C.P.A. Ltd.

The subject has no employees in Hong Kong.

The subject is an exporter and importer of diamonds, precious and semi‑precious stones, gem stones, beads, nugget beads, cabochons, fancy beads, cubic zirconium, pearl, jewellery, fresh water pearl, biwa pearl, keshi pearl, rough and related items.  Imported from India, the subject’s products are marketed in Hong Kong, and re-exported to South Korea.  It is likely that South Korea is the prime market of the subject.

The subject has got an affiliated manufacturing firm Earth Stone Inc. established in 1998 in Jaipur which is in the eastern part of Rajasthan, India.  This firm is one of the largest manufacturers of beads, gemstones, precious and semi-precious stones in India.

To our knowledge, the two Katarukas have set up a jewellery firm in Seoul, South Korea.

It is likely that the Korea firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The Korea firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

 

Company name and address

 

ASIATIC  TRADE  LTD.

(Business name: CHINALINK INDUSTRY)

 

ADDRESS:       c/o Fung & Pang C.P.A. Ltd.

1/F., Xiu Ping Commercial Building, 104 Jervois Street, Sheung Wan, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

34244715-000-01

 

 

COMPANY FILE NUMBER

 

0881141

 

 

DATE OF INCORPORATION

 

30th January, 2004.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 1,000 shares of HK$10.00 each)

 

Issued Share Capital: HK$10,000.00

 

SHAREHOLDERS

(As per registry dated 30-01-2011)

 

Name

 

No. of shares

Kishorilal Jhabarmal KATARUKA

 

500

Lata KATARUKA

 

500

 

 

–––––

 

Total:

1,000

====

 

DIRECTORS  

(As per registry dated 30-01-2011)

 

Name

(Nationality)

 

Address

Kishorilal Jhabarmal KATARUKA

107 Dong 2302 Ho, LG Han Gang Zai Apartment 430, I Chon-Dong, Youn San-Ku, Seoul, Korea.

 

Lata KATARUKA

107 Dong 2302 Ho, LG Han Gang Zai Apartment 430, I Chon-Dong, Youn San-Ku, Seoul, Korea.

 

 

SECRETARY

(As per registry dated 30-01-2011)

 

Name

Address

Co. No.

Louis Lai Co. Secretarial Services Ltd.

9/F., Surson Commercial Building, 140-142 Austin Road, Tsimshatsui, Kowloon, Hong Kong.

0686503

 

 

REMARKS

 

It was originally registered under the name of Potentia International Ltd., name changed to the present style on 22nd July 2009.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.67

UK Pound

1

Rs.76.50

Euro

1

Rs.66.98

 

 

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.