MIRA INFORM REPORT

 

 

Report Date :

27.07.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

BRILLIANT  STANDARD  LTD.

 

 

Registered Office :

Room 606, 6/F., Wing On Plaza, 62 Mody Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

04.09.2000

 

 

Com. Reg. No.:

31221700

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of garments, etc.

 

 

No. of Employees :

07

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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

 

BRILLIANT  STANDARD  LTD.

 

 

Company ADDRESS

 

Room 606, 6/F., Wing On Plaza, 62 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2368 1951

FAX:                 2368 1953

E-MAIL:            mparvani@gmail.com

 

 

MANAGEMENT

 

Managing Director:         Mr. Madhulal Sadhuram Parvani

 

 

SUMMARY

 

Incorporated on:             4th September, 2000.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000,000.00

Issued:              HK$10,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Group Annual Turnover:  US$70-75 million.

 

Employees:                   7.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Room 606, 6/F., Wing On Plaza, 62 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

31221700

 

 

COMPANY FILE NUMBER

 

0730107

 

 

MANAGEMENt

 

Managing Director:  Mr. Madhulal Sadhuram Parvani

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)

Issued Share Capital:     HK$10,000,000.00

 

 

SHAREHOLDERS

 

(As per registry dated 04-09-2011)

Name

 

No. of shares

Madhulal Sadhuram PARVANI

 

3,000,000

Sharda Madhulal PARVANI

 

3,000,000

Sachin Madhulal PARVANI

 

2,000,000

Dinesh Madhulal PARVANI

 

2,000,000

 

 

–––––––––

 

Total:

10,000,000

========

 

DIRECTORS

 

(As per registry dated 04-09-2011)

Name

(Nationality)

 

Address

Sachin Madhulal PARVANI

Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road, Mid-Levels, Hong Kong.

 

Dinesh Madhulal PARVANI

Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road, Mid-Levels, Hong Kong.

 

Sharda Madhulal PARVANI

Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road, Mid-Levels, Hong Kong.

 

Sadhuram Parvani MADHULAL

Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road, Mid-Levels, Hong Kong.

 

 

SECRETARY

 

(As per registry dated 04-09-2011)

Name

Address

Co. No.

Akin Professionals Ltd.

20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.

1273165

 

 

HISTORY

 

The subject was incorporated on 4th September, 2000 as a private limited liability company under the Hong Kong Companies Ordinance.

 

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of garments, etc.

 

Employees:                   7.

 

Commodities Imported:   China, other Asian countries, etc.

 

Markets:                       India, other Asian countries, Europe, US, South America, Middle East, Africa, etc.

 

Group Annual Turnover:  US$70-75 million.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000,000.00

 

Mortgage or Charge:       (See attachment)

 

Profit or Loss:                Making a small profit every year.

           

Condition:                      Keeping in a satisfactory 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:                      Good.

 

 

GENERAL

 

Having issued 10 million ordinary shares of HK$1.00 each, Brilliant Standard Ltd. is wholly owned by the Parvani family who are Indian.  All the Parvanis have been in Hong Kong for a very long time.

The subject is a prominent Apparel Exporter and Supplier in Hong Kong.

The subject sources its products from the suppliers in China and the other Asian countries.  It is trading in the following commodities:-

·         Infant Wear;

Infant Rompers;

Infant 2 Piece Set;

Kids Wear;

Kids T-Shirts;

Kids Jackets;

Kids Hooded Jackets;

Kids Vest;

Kids Sweater;

Girls Wear;

Menswear;

Mens T-Shirts;

Mens Shirts;

Mens Jackets;

Mens Hooded Jackets;

Mens Vest;

Mens Shorts;

Mens Capri;

Mens Lower;

Mens Jeans; &

Mens Cargo Pants.

Products are exported to India, other Asian countries, Europe, the United States, South America, the Middle East, Africa, etc.  Business is rather active.

To our knowledge, the subject’s main products are garments.  However, it also trades in other commodities such as bags, cases, other textile products, electronic products, electric appliances, kitchen ware, etc.

The subject now has set up offices in Shenzhen Special Economic Zone, Dubai, Africa, Panama, etc.  Business is active.

The annual sales turnover of the subject ranges from US$70 to 75 million.  Making a small profit every year.

As the history of the subject is over 11 years in Hong Kong, on the whole, consider it good for normal business engagements.

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

19-05-2005

Instrument:      Mortgage

Property:

All those 31 equal undivided 3,416 parts or shares of and in Inland Lot No. 1409 (Flat B on the 14/F., and Car Park Spaces No. 5 & 5A on 3 Car Port Floor of Hong Kong Garden, No. 8 Seymour Road, Hong Kong.

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

All moneys in respect of general banking facilities

28-11-2007

Instrument:      Mortgage

Property:

All those 53/26, 500 parts or shares of and in Kowloon Inland Lot No. 10586,nit No. 6 on the 5/F., Wing On Plaza, Kowloon

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

All moneys

04-02-2008

Instrument:      Memorandum

Property:

Deposits US$258,689.93

Mortgagee:      Bank of Baroda, Hong Kong Branch.

Loan or credit or other facilities

12-10-2009

Instrument:      Memorandum

Property:

Deposits US$413,054.93

Mortgagee:      Bank of Baroda, Hong Kong Branch.

Loan or credit or other facilities

10-03-2011

Instrument:      Security Agreement over Bank Account

Property:

By way of a first fixed charge all of the Chargor’s rights in respect of any amount standing to the credit of the Account

Mortgagee:      Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

To secure the payment and satisfaction of all present and future obligations and liabilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.95

UK Pound

1

Rs.86.56

Euro

1

Rs.67.95

 

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%)

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.