MIRA
INFORM REPORT
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Report Date : |
16th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
H. K.
GEMS & DIAMONDS |
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Registered Office : |
RM 1204-1206, 12/F, Rise
Commercial Bldg., 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong
Kong |
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Date of Incorporation : |
20.02.1997 |
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Com. Reg. No.: |
20678528 |
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Legal Form : |
Partnership |
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Line of Business : |
Engaged
in 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 : |
Regular |
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Litigation : |
Clear |
Company Name & Address
H. K. GEMS & DIAMONDS
RM 1204-1206, 12/F, RISE
COMMERCIAL BLDG., 5-11 GRANVILLE CIRCUIT, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 23676747
FAX: 852 23672798
EXECUTIVE SUMMARY
INCORPORATION
DATE : 20-2-1997
REGISTRATION
NO. : 20678528
REGISTERED
LEGAL FORM : PARTNERSHIP
CHIEF EXECUTIVE :
GANDHI AJAY (PARTNER)
STAFF
STRENGTH : 4.
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, 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 7.80875 =
USD1 AS OF 2007-2-15
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 20678528 on 20-2-1997 with present status as
partnership.
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
- Gandhi Ajay / M882659 12-B-Alpha
House,
27-33
Nathan Road,
Tsimshatsui,
Kowloon, HK.
- Chandaliya Rishab / ZZ5160994 Rm
D, 11/F, Comfort Bldg.,
36-88
Nathan Road, Kowloon, HK.
Certain
material change or amendment regarding SC within the last 4 years has been
traced & noted as follows:
Change
in principal(s):
Name(s) of admitted partner(s) Joining
date
Chandaliya Rishab 1-9-2002
Daga Saket 1-4-2002
Name(s) of retired partner(s) Leaving
date
Saini Surender Kumar 31-3-2002
Daga Saket 31-8-2002
Change
of business address : SC moved to the heading business address from Flat D,
11/F, Comfort Bldg., 86-88 Nathan Road, Tsimshatsui, Kowloon in Sept 2006.
Total number of employees: 4.
Location : Maintaining
its office at the heading business address which occupies a gross area of 600
square feet at a residential & commercial building in a commercial &
shopping district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
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.
Gandhi
Ajay, partner & main founder:
- In his
mid 40's
- He is
by Indian nationality
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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.
Registered
residential address: As stated above.
Property
ownership: Current land search indicates the said premises ownership as
follows:
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Owner(s) : Maheshwari Ajay
- Date
of purchase & consideration : 31-3-2003 / HK$750,000
- Date
of mortgage & secured amount : 31-3-2003 / ANS
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Mortgagee : Wing Lung Bank Ltd.
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
Chandaliya
Rishab, partner:
- He is
by Indian nationality
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 : 57 (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 of fine jewellery.
Items
available include diamond, precious stones, semi-precious stones, sapphire,
ruby, opal, emerald & coloured gemstones.
Principal
purchases :
Major types of
sourcing : Gemstones &
diamond
Local--type of
suppliers : Nil
Buying terms : Nil
Overseas--supplying
countries : SE Asia, India & Belgium
Buying terms : T/T & L/C
Principal
market :
Local--type of
customers : Nil
Selling terms : Nil
Overseas--buying
countries : USA & Europe
Selling terms : T/T & L/C
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 : Owing
to the nature of its business, SC is not an active seeker of local commerical
credit since merchandise/materials are imported. Its expenses in the form of
accruals and servicing are reportedly met in prompt manner.
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: Wing Lung Bank Ltd.
Upon a current contact, Gandhi
Ajay, SC's partner, declined forwarding any financial information on the ground
that it is the company's policy not releasing any data to a third party without
the benefit of knowing the identity of the inquiring party.
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 acceptable base to meet its
normal dealings. Credit up to moderate
amount may be considered.
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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