MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
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 |
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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 : |
Import & Supply of Diamond & Other
Jewellery Products |
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 |
Company name & Address
BLUE GEMS
UNIT 1707, 17/F, WORKINGPORT COMMERCIAL BLDG.,
3 HAU FOOK ST., TSIMSHATSUI, KOWLOON, HONG KONG.
TEL : 852 23147661
FAX : 852 23147811
EXECUTIVE SUMMARY
INCORPORATION
DATE : 2-9-1991
REGISTRATION
NO. :
14845597
REGISTERED
LEGAL FORM : SOLE PROPRIETORSHIP
STAFF
STRENGTH : 2
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 : IMPORT
& SUPPLY OF DIAMOND & OTHER JEWELLERY
PRODUCTS
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 : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.78068
= USD1 AS OF 2006-11-14
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 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 House,
/ H630649 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.
- 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:
- Owner(s) :
Wong Choi Yun & others
- Date of purchase & consideration : 16-5-1995 / $850,000
- Date of mortgage & secured amount : Nil
- 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 a development history of 15 years.
Credit dealings with SC in 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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