MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
VENUS
JEWELS (HK) LTD |
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Registered Office : |
Rm 1302-3, Tern Plaza, 5 Cameron Road, Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong. |
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Date of Incorporation : |
6-8-2003 |
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Com. Reg. No.: |
856107 |
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Legal Form : |
Private Limited Co. |
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Line of Business : |
Engaged in trading of diamond. |
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
VENUS
JEWELS (HK) LTD.
RM 1302-3, TERN PLAZA, 5 CAMERON ROAD,
TSIMSHATSUI,
KOWLOON, HONG KONG.
TEL: 852 27214200
FAX: 852 23167695
EXECUTIVE SUMMARY
INCORPORATION DATE :
6-8-2003
REGISTRATION NO. :
856107
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : SETH HAMESH BHAGCHAND
(DIRECTOR)
STAFF STRENGTH : 7
AUTHORIZED CAPITAL : HKD 10M = 1M ORDINARY SHARES @ HKD10.-
PAID-UP CAPITAL : HKD 10M
BUSINESS LINE : TRADING OF DIAMOND
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 7.77750 = USD1 AS OF 2006-09-04
The correct name and address of SC are the heading
ones instead of those given by you.
SC is a private limited company registered under
incorporation file no. 856107 on 6-8-2003.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 6-8-2006) Number
of shares held
Parekh Saurabh 500,000
Seth Hamesh
Bhagchand 500,000
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1,000,000
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Directors (as at 6-8-2006)
Seth Hamesh Bhagchand / K971444(8)
Parekh Saurabh / B5040406
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
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 Index:
Year(s) in which mortgage registration(s) are
filed: 2004-2006
Year(s) in which mortgage satisfaction record(s)
are filed: 2005, 2006
Seth Hamesh Bhagchand, director:
- Embarked upon his career to present field in his
late 20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Flat C, 10/F,
Golden Crown Court, 66-70 Nathan Road, Kowloon, Hong Kong.
Property ownership: Current land search indicates
the said premises ownership as follows:
- Owner(s) : Seth Hamesh Bhagchand & Seth Seema
- Date of purchase & consideration : 31-5-2002
/ HKD2,750,000
- Date of mortgage & secured amount : 31-5-2002
/ ANS
- Mortgagee : HSBC
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
Parekh Saurabh, director:
- He is by Indian nationality
- Embarked upon his career to present field in his
late 20's
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as Seth Hamesh
Bhagchand.
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 : 2 Obtained scores : 65 (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 diamond.
Principal purchases :
Major types of sourcing :
Merchandise
Local--type of suppliers :
Importers
Buying terms :
Credit of 30 days & local L/C
Overseas--supplying countries :
India
Buying terms :
L/T & T/T
Principal market :
Local--type of customers :
Wholesalers & retailers
Selling terms :
Credit of 30 days & local L/C
Overseas--buying countries :
Japan & USA
Selling terms :
L/C & T/T
Total number of
employees : 7.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,600 square feet at a commercial
building in a commercial & shopping district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
Property ownership : Current land search indicates
the ownership details of the captioned premises as follows:
- Owner(s) : Seth Hamesh Bhagchand
- Date of purchase & consideration : 6-11-2002
/ HKD2,208,888 *
- Date of mortgage & secured amount :
20-9-2004/ ANS
- Mortgagee : Standard Chartered Bank (HK) Ltd.
* Our search indicated a sub-sale agreement for
sale and purchase of the said premises was made on 10-11-2005 at a
consideration of HKD7,668,000.
Jointly occupying the premises with Princess
Jewellery Co.
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:
- Bank of India
- Bank of Baroda (HK) Ltd.
- Public Bank Berhad
Upon a current contact, Ms. Lee, SC's staff member,
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.
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 6-8-2006 was nil.
SC is still in early stage of development while it
appears to possess adequate financial and operational backing to come into
moderate amount of credit dealings.
NOTE:
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Current land search indicates that SC was involved
in the following property transaction:
- Address:
13/F, Tung Wui Commrcial Bldg., 27 Prat Avenue, Tsimshatsui, Kowloon,
Hong Kong.*
- Assignor:
SC
- Assignee:
Daryanani Madhavdas Moolchand & Daryanani Jagdish Madhu
- Date of disposal & amount: 21-7-2006 / HKD2,450,000
* SC purchased the said premises on 18-8-2005 at a
consideration of HKD1,999,999.
NOTES:
Current land search indicates that SC owns the
following premises:
- Address: Unit B1, 6/F, Burlington House, 90
Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
- Owner(s): SC
- Date of purchase & consideration: 18-7-2006 /
HKD3,820,000
- Date of mortgage & secured amount: NA
- Mortgagee: NA
- Address:
Unit F1, 5/F, Hang Fung Ind'l Building Phase 1, 2G Hok Yuen St.,
Tokwawan, Kowloon, Hong Kong.
- Owner(s):
SC
- Date of purchase & consideration: 28-6-2006 / HKD4,800,000
- Date of mortgage & secured amount: NA
- Mortgagee:
NA
- Address:
Unit F, 12/F, Blk A, Windsor Mansion, 29-31 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong.
- Owner(s):
SC
- Date of purchase & consideration: 20-2-2004 / HKD818,888
- Date of mortgage & secured amount: NA
- Mortgagee:
NA
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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