MIRA INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
KAN-CHI
INTERNATIONAL LTD. |
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Registered Office : |
Rear Portion, 14/F., Ocean View Court, 25 Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.03.2004 |
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Com. Reg. No.: |
34387050 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter
and Wholesaler of all kinds of diamonds and jewellery products, emerald,
precious stones, etc. |
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No. of Employees : |
2 |
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 : |
No Complaints |
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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
KAN-CHI INTERNATIONAL LTD.
Company ADDRESS
Rear Portion, 14/F., Ocean View Court, 25 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 8004, 3178 2370
FAX: 2723 4438, 3580 8932
E-MAIL: kajan.jewel@gmail.com
MANAGEMENT
Managing Director: Mr. Pankil Shah
SUMMARY
Incorporated on: 5th March, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$4,200,000.00
Issued: HK$4,200,000.00
Business Category: Diamond Trader.
Employees: 2.
Main Dealing Banker: Bank of India, Hong Kong Branch.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Rear Portion, 14/F., Ocean View Court, 25 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Associated Companies:-
Kajan Jewellery Ltd., Hong Kong. (Same address)
Kan-Chi International, Hong Kong. [Jointly owned by Mr. Pankil Shah and Mr. Priyal Pankil Shah] [Ceased business]
BUSINESS REGISTRATION NUMBER
34387050
COMPANY FILE NUMBER
0886918
MANAGEMENT
Managing Director: Mr. Pankil Shah
CAPITAL
Nominal Share Capital: HK$4,200,000.00 (Divided into 4,200,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,200,000.00
SHAREHOLDERS
(As per registry
dated 05-03-2011)
|
Name |
|
No.
of shares |
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Pankil
SHAH |
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3,360,000 |
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Priyal Pankil SHAH |
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840,000 |
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–––––––– |
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Total: |
4,200,000 ======= |
DIRECTORS
(As per registry
dated 05-03-2011)
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Name (Nationality) |
Address |
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Pankil SHAH |
Rear Portion, 14/F., Ocean View Court, 25
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
|
Priyal Pankil
SHAH |
Rear Portion, 14/F., Ocean View Court, 25 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
Pankil SHAH (As per registry dated 05-03-2011)
HISTORY
The subject was incorporated on 5th March, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat A, 9/F., Ocean View Court, 27A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in 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 products, emerald, precious stones, etc.
Employees: 2.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, Southeast Asia, Europe, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$4,200,000.00 (Divided into 4,200,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,200,000.00
Mortgage or Charge
(since 2009): (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· Bank of India, Hong Kong Branch.
· Bank of Communications Co. Ltd., Hong Kong Branch.
Standing: Small.
GENERAL
Having
issued 4.2 million ordinary shares of HK$1.00 each, Kan-Chi International Ltd.
is jointly owned by Pankil Shah, holding 80% interests; and Priyal Pankil Shah,
holding 20%. Being Indian merchants,
they are also directors of the subject.
They are also Hong Kong ID Card holders and have got the right to reside
in Hong Kong permanently.
The
subject’s registered and operating office is in a private building known as
Ocean View Court. Its operating address
is also the residence of the two shareholders.
The
subject has got an associated company Kanjan Jewellery Ltd. [Kanjan] located at
the same operating address. Having
issued 4 million ordinary shares of HK$1.00 each, Kajan is jointly owned by
Pankil Shah, holding 55% interests; and Priyal Pankil Shah, holding 45%. Kanjan and the subject are engaged in the
same lines of business.
The
subject is a jewellery and diamond trader.
It provides customers with all kinds of jewellery including platinum,
14K and 18K gold jewellery set with diamonds, precious stones and semi-precious
stones, etc. According to the subject,
it possesses “unique and innovative designs at competitive prices with a
variety of selection”. Its significant
products are diamond earrings, diamond rings with different designs and
specifications, etc. It has expanded its
markets to the other Asian countries, Europe, the Middle East and the United
States, etc. Commodities such as
polished diamonds, loose diamonds, etc. are chiefly imported from India. After processing in Hong Kong or China, finished
products are exported to the above-mentioned markets. The subject is also trading in South Sea
pearls, white and colour diamonds, diamond jewellery, gemset jewellery,
platinum jewellery, etc.
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it was an exhibitor of the Hong
Kong International Jewellery Show 2009 and 2010.
The
subject 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.The business of the subject and Kajan is chiefly handled by
the Shah family.
Since
the history of the subject is over seven years and six months, on the whole,
consider it good for normal business engagements in small credit amounts.
MORTGAGE OR CHARGE
(Since 2009)
|
Date |
Particulars |
Amount |
|
27-07-2011 |
Instrument: Hypothecation of Tangible Moveable
Property Property: All tangible
moveabel assets of borrower including in particular Furniture, Fixture, Plant
and Machinery and stocks of all goods of precious stones, gem, jewellery,
gold, etc., wheresoever situate and/or in transit Mortgagee: Bank of India, Hong Kong Branch. |
HK$30,000,000.00 |
|
27-07-2011 |
Instrument: Charge and Hypothecation of Book Debts Property: Hypothecation
and charge to the Bank by way of charge on all the book debts outstanding,
moneys receivable, claims and bills Mortgagee: Bank of India, Hong Kong Branch. |
HK$30,000,000.00 |
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27-07-2011 |
Instrument: Letter of Lien Property: Nature of
Deposit: TDR TDR Mortgagee: Bank of India, Hong Kong Branch. |
HK$30,000,000.00 |
|
10-08-2011 |
Instrument: Letter of Lien Property: Nature of
Deposit: TDR Mortgagee: Bank of India, Hong Kong Branch. |
US$1,000,000.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
UK Pound |
1 |
Rs.77.84 |
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Euro |
1 |
Rs.64.54 |
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.