MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
RA GEM CENTRE LTD |
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Registered Office : |
Unit 30-31, 4FL Focal Industrial Centre - Block B, |
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Country : |
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Date of Incorporation : |
June 5, 1998 |
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Com. Reg. No.: |
646505 |
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Legal Form : |
Private |
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Line of Business : |
Trading diamonds and jewelry. |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name &
address
RA GEM CENTRE LTD
UNIT 30-31, 4FL FOCAL INDUSTRIAL CENTRE - BLOCK B
TEL : 852-27218360
FAX : 852-23119377
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 5, 1998
REGISTRATION NO. :
646505
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KETAN KANTILAL SHAH (MANAGING DIRECTOR)
STAFF STRENGTH :
25
CAPITAL :
US$ 1,279
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82896 = US$1 AS OF 2007-8-7
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M million
HKD
*Company Registration*
===================
(1)
License number : 646505
Date issued : 5 June,
1998
Issuing authority : Companies
Registry
Type of license : Corporate
license
(2)
License number : 21790383-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business license
*Company History*
===============
April 2003 - Moved to
present address.
*Office & Facilities*
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Size : 7,000 sq. feet
Location : Jewelry district of Hong Kong
Other Contact Details
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E-mail : sales@ragemcentre.com
Website : www.jewelry.org.hk
*Capital Details*
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Authorized capital :
HKD 10,000.00
Issued & paid-up capital : HKD 100.00 divided into 100 ordinary
shares at HKD 1.00/-each
*Approved Signatures*
==================
Only Mr. Nilesh Vinodrai Shah can sign on behalf of the company with
seal affixed.
www.ragemcentre.com The design is
professional and the content is well organized. At present it is in English
version.
E-mail: info@ragemcentre.com
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country
Party's Name
Plaintiff
Case Issue : A petition to the Court claiming overdue payment for
services rendered (filed under case no. SCTC16283/2003).
Court : District Court,
Date Commenced : 25 March, 2003
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country
Party's Name
Plaintiff
Case Issue : A petition to the Court to rule over a labour dispute
(filed under case no. LBTC4528/2003).
Court : District Court,
Date Commenced : 19 June, 2003
Status : Not stated
Litigation ( 3 ) Not
Adverse
Position : Plaintiff
Other Parties Involved : Position Country
Party's Name
Defendant Hong
Kong GAINWAY INT'L LTD
Case Issue : A petition to the Court claiming overdue payment amounting
to HKD 511,763.96 for goods sold and delivered (filed under case no.
DCCJ3085/2003).
Court : District Court,
Date Commenced : 20 May, 2003
Status : Not stated
Litigation ( 4 ) Not Adverse
Position : Plaintiff
Other Parties Involved : Position Country
Party's Name
Defendant Hong
Kong TRUMP GOLD KORN JEWELRY CO LTD
Case Issue : A petition to the Court claiming overdue payment amounting
to HKD 18,327.20 for goods sold and delivered (filed under case no.
DCCJ3135/2003).
Court : District Court,
Date Commenced : 29 May, 2003
Status : Not stated
Litigation ( 5 ) Not
Adverse
Position : Plaintiff
Other Parties Involved : Position Country
Party's Name
Defendant Hong
Kong DAILY JEWELLERY CO
Defendant
Case Issue : A petition to the Court claiming overdue payment amounting
to HKD 143,000.00 for goods sold and delivered (filed under case no.
DCCJ4138/2003).
Court : District Court,
Date Commenced : 12 July, 2003
Status : Not stated
Litigation ( 6 ) Not
Adverse
Position : Plaintiff
Other Parties Involved : Position Country
Party's Name
Defendant Hong
Kong PROFIT GEM INT'L LTD
Case Issue : A petition to the court claiming overdue payment for goods
sold and delivered (filed under case no. A100/2004).
Court : High Court,
Date Commenced : 17 January, 2004
Status : Not stated
*Major Shareholders*
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Total number of shareholder
: 1
Total number of ordinary shares : 100
Shareholder's Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
--------------------------- ------------------------------ ------------------------------ ----------------
S VINODKUMAR INT'L PTE LTD 100 100.00 100.00
*Director's Details*
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Nilesh Vinodrai Shah
HKID no : P601966(1)
Address : Flat A, 8Fl
Kam Ma Bldg 16 Cameron Rd Tsimshatsui Kowloon,
*Corporate Secretary*
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HOJIN LTD
Address : 25Fl Man Yee Bldg 60-68 Des Voeux Rd Central,
CR no. : 127424
Management: Mr. Ketan Kantilal Shah, Managing Director
Name Nationality
Job Description
Mr. Ketan Kantilal Shah Indian
Managing Director
*Key Personnel*
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Ketan Kantilal Shah
HKID no : P055945(1)
Address : Flat A &
B, 8Fl
Kong
Responsibility : Handles the overall management of the company.
*Main Products & Services*
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Specializes in trading diamonds and jewelry.
Carries the following brands :
- SIGHTHOLDER
- DTC
Products: Diamond jewelry
Fine jewelry
Jewelry
Polished
diamonds
Precious metals
*Payment Terms*
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Sales
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Local : Cash or Credit
Purchases
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Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Exhibition Participation*
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Exhibition fair : Hong Kong
International Jewellery Show
Date attended : 6-10 March, 2007
Location :
Future Local Exhibition
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Exhibition fair : September
Date attended : 25-29 September,
2007
Location :
*Associations*
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Member of the following associations :
- Hong Kong Jewelry Manufacturers' Association
- Shanghai Diamond Exchange
- Hong Kong Indian Chamber of Commerce
*Awards*
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Received the following awards:
(1)
Award : The Highest
Import of Diamonds from
Awarded by : The Gem &
Jewellery Export Promotion Council of
Year : 1998-2004
& 2005-2006
(2)
Award : The Best
Supporter
Awarded by : Mr. Henry Ying-yin
Tang of GSP JP
Year :
2002-2006
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*International Exhibition Participation*
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Future International Exhibition
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Exhibition/Fair : Shenzhen International Jewellery Fair 2007
Date attended : 13 -17
September, 2007
Location : Hall 1,
Shenzhen Convention & Exhibition Centre
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a branch office in
PAYMENT RATING : 3 OBTAINED SCORES : 52
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts
depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
*Bank Details*
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Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Attached:
trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7102100000 Diamonds,
unsorted
Trading 7102290000 Industrial
diamonds, worked
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry
of precious or semiprecious stones
Trading 9100 Clocks
& watches & parts thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Precious
stones
Trader Watches
Trader Precious
metals
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Importing from
Importing from
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 SCs 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%)