MIRA
INFORM REPORT
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Report Date : |
3rd
April 2006 |
IDENTIFICATION
DETAILS
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Name : |
BLUE GEMS |
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Registered Office : |
Unit 1707, 17/F, Workingport Commercial Bldg., 3 Hau Fook St., Tsimshatsui, Kowloon, Hong Kong |
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Country : |
Hong Kong |
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Date of Incorporation : |
02-09-1991 |
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Com. Reg. No.: |
14845597 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers & suppliers of diamond & other jewellery products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NAME
BLUE GEMS
ADDRESS
UNIT 1707, 17/F, WORKINGPORT COMMERCIAL BLDG.,
3 HAU FOOK ST., TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23147661
FAX : 852 23147811
EXECUTIVE SUMMARY
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INCORPORATION DATE |
2-9-1991 |
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REGISTRATION NO. |
14845597 |
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REGISTERED LEGAL FORM |
SOLE
PROPRIETORSHIP |
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STAFF STRENGTH |
2 |
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AUTHORIZED
CAPITAL |
[IN HK,
UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE
(THE INLAND REVENUE)] |
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PAID-UP
CAPITAL |
NOT
APPLICABLE |
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BUSINESS LINE |
IMPORT
& SUPPLY OF DIAMOND & OTHER JEWELLERY PRODUCTS |
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TURNOVER |
N/A (AS OF DEC. 31, 2004) |
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EQUITIES |
N/A (AS OF DEC. 31, 2004) |
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PAYMENT |
AVERAGE |
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RECOMM. CREDIT RANGE |
MODERATE AMOUNT |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
FAIRLY STEADY |
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GENERAL REPUTATION |
AVERAGE |
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EXCHANGE RATE |
HKD 7.75444 =
USD1 AS OF 2005-10-26 |
SC was
established under Business Registration number 14845597 on 2-9-1991 with
present status as sole proprietorship.
Currently
obtained BR copy indicate the particulars of SC's principal(s) are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered address
- Shah Pareshkumar Himmatlal 14/F,
Blk E, Hanley
/ H630649 House,
68-80 Canton
Road,
Tsimshatsui,
Kowloon,
HK.
No
material change or amendment regarding SC has been traced & noted since its
inception.
Total number of employees : 2.
Location : Maintaining
its office at the heading business address which occupies a gross area of 700
square feet at a commercial building in a commercial & shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
No
signboard was seen on display at entrance to the premises.
The
premises is rented.
This
section will contain the civil litigations & winding-up petitions filed
against SC for the last 6 years (as stored in our database), and the
mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges by an unlimited
co is not required to be registered in the public records.
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) :
In HK, unlimited companies are not required to file its charge particulars for
public inspection.
Shah
Pareshkumar Himmatlal, sole proprietor:
- In his
late 30's.
- He is
by Indian nationality.
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Embarked upon his career to present field as a small businessman in his mid
20's.
Currently
active in SC's day-to-day operations & is responsible for its management.
Registered
residential address: As stated above.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Wong Choi Yun & others
- Date of
purchase & consideration : 16-5-1995 / $850,000
- Date of
mortgage & secured amount : Nil
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Mortgagee : Nil
Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:
Civil litigation as defendants : None in our database
Bankruptcy/winding-up petitions : None in our database
Delinquent payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership
background appraisal
Rating : 3 Obtained scores : 55 (see explanatory notes
below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The
rating indicates the personal financial & operational strength of SC's
major principals. It is calculated from
a composite of scores obtained from the following 5 factors which carry equal
weight in our analysis:
Personal
financial strength, credit history & trade reputation, business experience
& track record, market connection and management skill.
Business
categories
SC is
engaged in import & supply of diamond & other jewellery products.
Items
available include fine jewellery, coloured gemstones (such as jade & loose
diamond), etc.
Principal
purchases
Major types of
sourcing :
Diamond & other jewellery products
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying
countries : SE Asia, India
& Thailand
Buying terms : L/C
Principal
market
Local--type of
customers :
Exporters & fine jewellery suppliers
Selling terms :
Credit of 30 days & local L/C
Overseas--buying
countries : Nil
Selling terms : Nil
SC is not known to have any subsidiary at present.
Overall payment appraisal
( ) Excellent ( ) Good (X) Average ( ) Fair ( )
Poor ( ) Not yet determined
The
appraisal serves as a reference to reveal SC's payments habits and ability to
pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment records
and our debt collection record concerning SC.
Delinquent
payment record
None in our
database.
Debt collection
record
No overdue amount owed by SC was placed to us for collection within the last 6 years.
Banking
relations are maintained principally with: HSBC.
Upon a current contact, SC's
principal(s) declined forwarding any financial information on the ground that
SC is a private venture whose data is not required for public inspection.
Re: In HK, only the public listed cos.,
financial institutions & overseas cos. are obligated to file their
financial statements to Companies Registry for public search. Generally, the private limited cos. &
unlimited cos. always keep those data as highly confidential matter.
SC is
considered small-sized in its line locally.
With regard to its size of operation & limited growth potential,
credit in the range of small to moderate amount can be considered.
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Asset Tracing --
Upon our
current investigation, our database & sources consulted indicate that SC
was not involved in any property transaction (both purchase & disposal) in
Hong Kong for the last 6 years.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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