MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

LOTUS  HONG  KONG

 

 

Registered Office :

Room 01, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

07.01.1988.

 

 

Com. Reg. No.:

11528053-000-01

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of industrial chemicals, etc.

 

 

No. of Employees :

3

 

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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

LOTUS  HONG  KONG

 

 

Address:           Room 01, 8/F., Guardforce Centre,

                        3 Hok Yuen Street East, Hunghom,

                        Kowloon, Hong Kong.

 

 

(Your enquiry given as:

LOTUS HONGKONG

of the same address.)

 

PHONE:            2723 4706

 

FAX:                 2311 9723

 

E-MAIL:                        sunil@uniquelotus.com.hk

 

 

MANAGEMENT

 

Manager:  Mr. Kumar Jain Sunil

 

 

SUMMARY

 

Establishment:                          7th January, 1988.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                    3.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

Room 01, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

Associated Company:-

Unique Lotus Gems, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

11528053-000-01

 

 

MANAGEMENT

 

Manager:  Mr. Kumar Jain Sunil

 

 

SOLE PROPRIETOR

 

Name:  Mr. Kumar Jain SUNIL

Residential Address:      Room C 18/F., Wah Fung Mansion, 17-23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 7th January, 1988 as a sole proprietorship concern owned by Mr. Kumar Jain Sunil under the Hong Kong Business Registration Regulations.

Originally the subject was registered under the name of Lotus Export-Import International, name changed to the present style on 15th September, 2005.

The subject has changed its registered address for four times.  Last time it was located at Room B1, 4/F., Green Field Terrace, 26 Ho Man Tin Hill Road, Kowloon, Hong Kong, moved to the present address in September 2005.

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

 

 

OPERATIONS

 

Activities:          Importer, Exporter and Wholesaler.

 

Lines:               All kinds of industrial chemicals, etc.

 

Employees:       3.

 

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

 

Markets:           India, other Asian countries, etc.

 

Terms/Sales:     As per contracted.

 

Terms/Buying:  L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

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 required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Lotus Hong Kong is a sole proprietorship set up and owned by Mr. Kumar Jain Sunil who is an Indian.  Being the manager of the subject, Sunil has been in Hong Kong for a very long time.

The subject is trading in all kinds of industrial chemicals.  Commodities are sourced from China, India, other Asian countries.  Prime markets are North America, Southeast Asia, other Asian countries, Western Europe, etc.  Business is normal.

The subject has got an associated company Unique Lotus Gems [ULG], a Hong Kong-registered firm, located at the same operating address.  ULG is Gems is also operated by Sunil.

ULG is trading in the following gems:-

Colour gem stones, Emeralds, Rubies & Sapphires, etc.

For sapphires ULG has black, blue, green, pink, yellow, orange, white and multi colours, etc. in the shape of Round (N/C & D/C), Baguette, Tapper, Oval, Pear Shape, Heart Shape, Princess Cut, Squar, etc.

The business of ULG and the subject are chiefly handled by Sunil.

As the history of the subject is over 24 years in Hong Kong, on the whole, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.