MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
OM GEM CREATIONS LTD. |
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Registered Office : |
Rm 1002, 10/F, Fullcorp Ctr, 53-55
Chatham Rd, Tsimshatsui, Kln, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
17-9-2004 |
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Com. Reg. No.: |
923114 |
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Legal Form : |
Private Limited Co |
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Line of Business : |
Engaged in trading & wholesale of
fine jewellery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Regular
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Litigation : |
Clear |
Name & address
OM GEM CREATIONS LTD.
RM 1002, 10/F, FULLCORP CTR, 53-55
CHATHAM RD,
TSIMSHATSUI, KLN, HONG KONG.
TEL: 852 27230097 / 23012811
FAX: 852 23111884
EXECUTIVE SUMMARY
INCORPORATION DATE : 17-9-2004
REGISTRATION NO. : 923114
REGISTERED LEGAL FORM : PRIVATE
LIMITED CO.
CHIEF EXECUTIVE : GOYANI SATISH VITHALBHAI (DIRECTOR)
STAFF STRENGTH :
4
AUTHORIZED CAPITAL : HKD10,000 = 10,000 SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 10,000
BUSINESS LINE : TRADING & WHOLESALE OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.77554 = USD1 AS OF 2006-08-22
SC is a private limited company
registered under incorporation file no. 923114 on 17-9-2004.
SC's shareholders & directors are
shown to be as follows:
Shareholders (as at 17-9-2005) Number of
shares held
Patel Shailesh Kumar Vallabh Bhai 5,000
Goyani Satish Vithalbhai 5,000
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10,000
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Directors (as at 17-9-2005)
Goyani Satish Vithalbhai / R249960(5)
Patel Shailesh Kumar Vallabh Bhai /
P457929(5)
The above registration information is
based on SC's annual return filed at Companies Registry within the last 2
years.
SC was formed for taking over the
business of the former PM Gem Creations which was established by the existing
principals in 15-11-1997.
No material change or amendment
regarding SC has been traced & noted within last 2 years.
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) : None filed within the
last 2 years as per our current search.
Goyani Satish Vithalbhal, director:
- In his mid 40's & married
- He is by Indian nationality
Currently active in SC's day-to-day
operations & is responsible for its management.
Registered residential address: Same as
the heading business address.
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
Patel Shailesh Kumar Vallabh Bhai,
director:
- In his late 40's & married
- He is by Indian nationality
- Also currently principal of Diamond
Treasure Co.
Currently active in SC's day-to-day
operations & is responsible for its management.
Registered residential address: Same as
the heading business address.
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 : 60 (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 trading &
wholesale of fine jewellery.
Items available include semi-precious
& colored gemstones (including ruby, sapphires, tigers, rough color stones,
etc.), jade, cut diamond & other jewellery products
SC is a member of The Indian Chamber of
Commerce Hong Kong.
Principal purchases :
Major types of sourcing : Diamond & gemstones
Local--type of suppliers : Nil
Buying terms : Nil
Overseas--supplying countries : India (mainly), Sri Lanka, Pakistan &
SE Asia
Buying terms : L/C & T/T
Principal market :
Local--type of customers : Retailers
Selling terms : COD & credit of 30-45 days
Overseas--buying countries : PR China, SE Asia, USA & Europe
Selling terms : L/C & T/T
Total number of employees : 4.
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 district.
Condition inside the premises during
our visit : Normal.
Office/factory layout : Standard.
The premises is rented.
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.
Trade payment experience : SC did not provide any
name of trade/service suppliers and we have no other sources to conduct the
enquiry at present.
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: Hang Seng Bank Ltd.
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.
As per current co. search, total amount
of indebtedness of SC in respect of all mortgages and charges which are
required to be registered with Companies Registry as at 17-9-2005 was NA.
SC is considered a normally advancing
concern with steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can
be considered.
-- 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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