MIRA
INFORM REPORT
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Report Date : |
02.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARIHANT GEMS. |
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Registered Office : |
Flat B, 14/F, Kok Pah Mansion, 58-60 Cameron Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17-11-2003 |
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Com. Reg. No.: |
34068177 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading 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 : |
Usually correct |
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Litigation : |
Clear |
name & address
ARIHANT GEMS.
FLAT B, 14/F, KOK PAH MANSION, 58-60 CAMERON ROAD, TSIMSHATSUI,
KOWLOON, HONG KONG.
TEL : 852 23685647
FAX : 852 23685646
EXECUTIVE SUMMARY
INCORPORATION DATE :
17-11-2003
REGISTRATION NO. :
34068177
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : LUNAWAT DHARMENDRA
KUMAR (PARTNER)
STAFF STRENGTH :
5
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COS. ARE NOT
REQUIRED TO FILE ITS
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP CAPITAL
: NOT APPLICABLE
BUSINESS LINE :
TRADING OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81433 = USD1 AS OF 2007-04-02
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC was established under Business Registration number
34068177 on 17-11-2003 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
- Lunawat Dharmendra Kumar /
B1368538 Flat
14-B, Kok Pah Mansion,
58-60
Cameron Road,
Tsimshatsui,
Kowloon, HK.
Certain material change or amendment regarding SC within the
last 4 years has been traced & noted as follows:
Change of co. name : SC was formerly named Classic Gems and
adopted present name on 18-11-2003.
Change in principal(s):
Name(s) of admitted partner(s) Joining
date
Bohara Gourav 13-12-2005
Name(s) of retired partner(s) Leaving
date
Bohara Gourav 27-4-2006
Lunawat Dharmendra Kumar, partner:
- In his mid 30's
- He is by Indian nationality
- Embarked upon his career to present field as a junior
salesman in his mid 20's
Currently active in SC's day-to-day operations & is
responsible for its management.
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 : 58 (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.
During our report preparation, the principals could not be
contacted while the staff members hesitated to release financial information
without the principals' consent.
Banking relations are maintained principally with: Bank of
India
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 records 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.
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.
Business categories :
SC is engaged in trading of fine jewellery.
Items available include gemstones, jade, diamond, ruby,
sapphire, topaz, emerald & other precious stones.
Principal purchases :
Major types of sourcing :
Gemstones
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
The Middle East, India & Thailand
Buying terms :
T/T & special agreed terms
Principal market :
Local--type of customers :
Dealers & jewellery makers
Selling terms :
COD
Overseas--buying countries :
USA, PR China, Japan & South Korea
Selling terms :
Special agreed terms
Total number of employees : 5.
Location : Maintaining its office at the heading business
address which occupies a gross area of 700 square feet at a commercial &
residential building in a commercial & shopping 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.
SC is considered small-sized in its line locally with
acceptable base to meet its normal dealings.
Credit up to moderate amount may 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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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%)