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Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SUPREME
TRADING FZE |
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Registered Office : |
c/o Gurus & Lexes Consultants Ltd., Room 1002, 10/F., Chuang’s Tower, 30-32 Connaught Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.09.2009 |
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Com. Reg. No.: |
51183550-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Diamonds, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUPREME TRADING FZE
c/o Gurus & Lexes Consultants Ltd.
Room 1002, 10/F., Chuang’s Tower, 30-32 Connaught Road Central, Hong Kong.
PHONE: 3749 7792
FAX: 3909 1679
Manager: Mr. Shiv Shankar Gopawat
Establishment: 21st September, 2009.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Gurus & Lexes Consultants Ltd.
Room 1002, 10/F., Chuang’s Tower, 30-32 Connaught Road Central, Hong Kong.
P.O. Box 92438, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Associated
Companies:- (Same owner)
Sharp Diamonds, Hong Kong.
Superb Jewellery, Hong Kong.
51183550-000-09
Manager: Mr. Shiv Shankar Gopawat
Name: Mr. Shiv Shankar GOPAWAT
Residential Address: Po-Kharsan, Via-Kheroda Udaipur, Raj, India.
The subject was established on 21st September, 2009 as a sole proprietorship concern owned by Mr. Shiv Shankar Gopawat under the Hong Kong Business Registration Regulations.
Initially the subject was located at Room 1008, 10/F., Prosperity Millennia Plaza, 663 King’s Road, Quarry Bay, Hong Kong where is the operating address of Gurus & Lexes Consultants Ltd. [Gurus & Lexes], moved to the present address in December 2009 where is the branch office of Gurus & Lexes.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Diamonds, etc.
Employees: Nil.
Commodities Imported: India, China, other Asian countries, etc.
Markets: Europe, North America, Asian countries, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
Profit or Loss: Kept a balance account in 2011.
Condition: Business is improving.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Supreme Trading FZE is a sole proprietorship set up and owned by Mr. Shiv Shankar Gopawat who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
Business commenced in September 2009, the subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 1002, 10/F., Chuang’s Tower, 30-32 Connaught Road Central, Hong Kong known as Gurus & Lexes Consultants Ltd. [Gurus & Lexes] which is handling its correspondences and documents. Your given phone number 852-3749 7792 and fax number 3909 1679 belong to Gurus & Lexes.
The subject has no employees in Hong Kong.
To our knowledge, the subject is chiefly trading in diamonds, etc. It also trades in other commodities as entrusted by customers. It is also a commission agent. Commodities are chiefly sourced from China, India and the other Asian countries. Prime markets are Europe, North America, Asian countries, the Middle East, etc.
The subject has got associated companies in India and Dubai of the United Arab of Emirates. Business is improving.
It is likely that the main business area of the subject is in Dubai of the United Arab of Emirates.
Besides operating the subject, Gopawat is also operating the following two firms: Superb Jewellery and Sharp Diamonds. The registered address of these two firms are also in the operating address of Gurus & Lexes. As Gurus & Lexes has more than one office in Hong Kong, the registered address of the above-mentioned two firms are not the same as the subject.
Trading in diamonds and jewellery, both firms are also incorporated on 21st September, 2009.
The history of the subject in Hong Kong is just over two years.
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.
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery
industry in India today may be more than Rs 60000 mil
and is rated amongst the fastest growing in the world. Indi ranks third in the world in domestic diamond
consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This
could be the biggest credibility crisis the Indian diamond industry has ever
faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat.
Until about two months ago, they had not repaid these dues. Bankers
believe many diamantaires borrowed money during the
economic downturn two years ago and diverted funds to businesses like real
estate and capital markets. Many of themselves made money from these businesses
but their diamond companies have gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.98 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.