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MIRA
INFORM REPORT
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Report No. : |
506859 |
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Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
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Name : |
BRILLIANT STANDARD LIMITED |
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Registered Office : |
Room 504-505, 5/F., Harbour Crystal Centre, |
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Country : |
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Date of Incorporation : |
04.09.2000 |
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Com. Reg. No.: |
31221700 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of
Garments, Accessories, Sundries, Household Products. |
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No. of Employees : |
35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
The Hong Kong Government is promoting the Special Administrative Region
(SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong
residents are allowed to establish RMB-denominated savings accounts;
RMB-denominated corporate and Chinese government bonds have been issued in
The mainland has long been Hong Kong's largest trading partner, accounting
for about half of
Credit expansion and a tight housing supply have caused
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Source
: CIA |
Company name and address
BRILLIANT
STANDARD LIMITED
ADDRESS: Room 504-505, 5/F., Harbour Crystal Centre,
PHONE: 852-2368
1951
FAX: 852-2368
1953
E-MAIL: mparvani@gmail.com
bstand04@netvigator.com
sridhar@bslhk.com
MANAGEMENT
Managing Director:
Mr. Madhulal Sadhuram Parvani
SUMMARY
Incorporated on: 4th September, 2000.
Organization: Private Limited Company.
Issued Share Capital: HK$20,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 35.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 504-505, 5/F., Harbour Crystal Centre, 100 Granville
Road, Tsimshatsui East, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
31221700
COMPANY FILE NUMBER
0730107
MANAGEMENT
Managing Director:
Mr. Madhulal Sadhuram Parvani
ISSUED SHARE CAPITAL
HK$20,000,000.00
SHAREHOLDERS
(As per registry dated 04-09-2017)
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Name |
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No. of shares |
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Madhulal Sadhuram PARVANI |
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6,000,000 |
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Sharda Madhulal PARVANI |
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6,000,000 |
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Sachin Madhulal PARVANI |
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4,000,000 |
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Dinesh Madhulal PARVANI |
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4,000,000 |
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––––––––– |
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Total: |
20,000,000 ======== |
DIRECTORS
(As per registry dated 04-09-2017)
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Name (Nationality) |
Address |
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Sachin Madhulal PARVANI |
Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road,
Mid-Levels, Hong Kong. |
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Dinesh Madhulal PARVANI |
Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road,
Mid-Levels, Hong Kong. |
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Sharda Madhulal PARVANI |
Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road,
Mid-Levels, Hong Kong. |
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Madhulal Sadhuram PARVANI |
Flat B, 14/F., Hong Kong Garden, 6-8 Seymour Road,
Mid-Levels, Hong Kong. |
SECRETARY
(As per registry dated 04-09-2017)
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Name |
Address |
Co. No. |
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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.
Formerly the subject was located at ‘Room 606, 6/F., Wing On
Plaza, 62 Mody Road, Tsimshatsui, Kowloon, Hong Kong’. It moved to the present address in November
2014.
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, accessories, sundries, household products.
Employees: 35.
Commodities Imported: China,
other Asian countries, etc.
Markets: India,
other Asian countries, Europe, US, South America, Middle East, Africa, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C, D/P, etc.
MEMBERSHIP
The Indian Chamber of Commerce Hong Kong, Hong Kong.
FINANCIAL INFORMATION
Issued Share Capital: HK$20,000,000.00
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: Regular
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Citibank, N.A., Hong Kong.
Bank of Baroda, Hong Kong Branch.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Australia and New Zealand Banking Group Ltd., Hong Kong.
Standing: Very Good.
GENERAL
Having issued 20 million ordinary shares of HK$1.00 each,
Brilliant Standard Limited is wholly owned by the Parvani family all of whom
are Indian. All the Parvanis have been
in Hong Kong for a very long time. They
are Hong Kong ID holders and have got the right to reside in Hong Kong. They are also directors of the subject.
The subject is a prominent apparel exporter and supplier in Hong
Kong. Now, it also trades in sundry
products.
The subject sources its products from the suppliers in China and
the other Asian countries.
The subject is an experienced manufacturer and exporter of
fashionable and affordable men’s, women’s and children’s clothing and
accessories. Strategically headquartered in Hong Kong, the subject’s management
has more than 35 years’ experience in the apparel industry.
The subject is specialised in casualwear and active
sportswear. It has had long-term
co-operation with a strong network of partners in some of
Its wide range of affordable casualwear includes cotton knits,
wovens, sportswear, sweaters, denims, skirts, outerwear, travel gear, headwear,
footwear and accessories.
The subject has staff of about 35, including a team of 8 creative
in-house designers.
The subject has had an associated factory in China. This is a 40,000 sq. ft. facility in Fujian
Province of China to accommodate up to 500 workers. This facility was put into operation in late
2012.
Products are exported to India, other Asian countries, Europe, the
United States, South America, the Middle East, Africa, etc. Business is rather active.
One of its garment customers is Tiendas La Gran Via Inc.
Besides garments, the subject also trades in the other products
such as the following:
LED candle sets, Collapsible Pet Feeders, Pen sets, general
household products, gifts and premiums, etc.
Most of the commodities are sourced from China. It is able to make a small profit every year.
As the history of the subject is over 17 years and six months in
Hong Kong, on the whole, consider it good for normal business engagements.
MORTGAGE OR CHARGE
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Date |
Description
of Instrument |
Mortgagee |
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19-05-2005 |
Mortgage |
The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
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04-02-2008 |
Memorandum |
Bank of Baroda, Hong Kong Branch. |
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12-10-2009 |
Memorandum |
Bank of Baroda, Hong Kong Branch. |
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10-03-2011 |
Security Agreement over Bank Account |
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong. |
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22-06-2012 |
Charge Over Deposit |
Australia & New Zealand Banking Group Ltd.,
Hong Kong Branch. |
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15-04-2013 |
Legal Charge/Mortgage |
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong. |
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15-04-2013 |
Rental Assignment |
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong. |
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02-03-2016 |
Deposit Deed |
Citibank N.A., Hong Kong Branch. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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HKD |
1 |
INR 8.49 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.