MIRA INFORM REPORT

 

 

Report Date :

17.02.2012

 

IDENTIFICATION DETAILS

 

Name :

KARANI  ASSOCIATES

 

 

Registered Office :

Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.01.1974

 

 

Com. Reg. No.:

04042935-000-01

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Gemstones and jade, etc.

 

 

No. of Employees :

Not Available

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

 

KARANI ASSOCIATES

 

 

Company ADDRESS    

 

Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:                  2368 7630,  2139 4088

 

FAX:                       2722 7788,  2366 2786

 

E-MAIL:                  karani@hutchcity.com

 

 

MANAGEMENT

 

Manager:  Mr. Uvaisul Karani Muthuwappa

 

 

SUMMARY

 

Establishment               :  1st January, 1974.

 

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.

Company name

 

KARANI ASSOCIATES

 

 

Company ADDRESS

 

Head Office:-

Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

P.O. Box 97134, Tsimshatsui Post Office, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

04042935-000-01

 

 

MANAGEMENT

 

Manager:  Mr. Uvaisul Karani Muthuwappa

 

 

SOLE PROPRIETOR

 

Name:  Mr. Uvaisul Karani Muthuwappa

Residential Address: Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st January, 1974 as a partnership concern jointly owned by several Indian under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Mohamed Mohideen MUTHU WAPPA

01-01-1974

31-03-2008

Muthu Mohamed SHAMSUDEEN

01-01-1974

31-03-2008

Mrais Mohamed MEERASAHIH

23-02-1978

31-03-2008

Mohamed Mohideen MUTHU WAPPA

25-05-1990

31-03-2008

Muthu Ibrahim SHAMSUDEEN

28-10-1996

31-03-2008

Uvaisul Karani MUTHUWAPPA

28-10-1996

-

 

The subject has become a sole proprietorship since 31st March, 2008.

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

 

 

OPERATIONS

 

Activities                       : Importer, Exporter and Wholesaler.

 

Lines                            : Gemstones and jade, etc.

 

Employees                    : Nil.

 

Commodities Imported    : India, Sri Lanka, Thailand, Brazil, etc.

 

Markets                                    : China, Japan, South Korea, Taiwan, Southeast Asia, Europe, etc.

 

Terms/Sales                  :  L/C or as per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Capital                          : Not disclosed.

 

Profit or Loss                 : Making a very small profit in the past three years.

 

Condition                       : Business is normal.

 

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.

 

 

GENERAL

 

Karani Associates is a sole proprietorship owned by Mr. Uvaisul Karani Muthuwappa who is an Indian.  He joined in the subject on 28th October, 1996.  The subject’s registered office and operating office is located at the residence of Muthuwappa.

The subject is trading in the following products: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, moon stone, iolite, tanzanite, alexandrite, gemstone carving, etc.

Products are imported from India, Sri Lanka, Madagascar, Brazil, Thailand, etc.  Prime markets are Japan, Taiwan, Singapore, Thailand, Malaysia, Indonesia, Germany, other European countries, etc.

The subject is just a one-man company.  Muthuwappa solely operates the subject.  History in Hong Kong is over thirty-eight years.  Regular suppliers and foreign customers have been maintained.

On the whole, consider the subject good for normal business engagements in small credit amounts.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.77.45

Euro

1

Rs.64.89

 

 

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.