MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION DETAILS
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Name : |
SEJAL GEMS HONG KONG CO. LTD. |
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Registered Office : |
Flat C, 6/F, Golden Mansions, 83-85a Chatham Road, Tsimshatsui,
Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.02.2004 |
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Com. Reg. No.: |
881980 |
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Legal Form : |
Private Limited Company |
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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 : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
SEJAL GEMS HONG KONG CO. LTD.
FLAT C, 6/F,
GOLDEN MANSIONS, 83-85A CHATHAM ROAD, TSIMSHATSUI, KOWLOON, HONG KONG.
TEL: 852 31103550
FAX: 852 31103580
EXECUTIVE SUMMARY
INCORPORATION DATE :
11-2-2004
REGISTRATION NO. :
881980
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : SHAH RITESH KIRTILAL (DIRECTOR)
STAFF STRENGTH :
2
AUTHORIZED CAPITAL : HKD 4M = 4M SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 4M
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 7.81294 = USD1 AS OF 2007-02-14
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 is a private limited company registered under incorporation file no.
881980 on 11-2-2004.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 11-2-2006) Number
of shares held
Tanvi International Pte Ltd. 1,800,000
S.M. Jewels Pte Ltd. 1,000,000
Shah Ritesh Kirtilal 1,000,000
Shah Jigneshkumar Narotamdas 200,000
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4,000,000
=======
Directors (as at 11-2-2006)
Shah Ritesh Kirtilal / Z1544982
Shah Jigneshkumar Narotamdas / B0082011
Shah Darshan / B1291459
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Shares allotments on 22-7-2005:
Allottee(s) No.
of share(s)
Shah Ritesh Kirtilal 1,000,000
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) : None filed since
its incorporation date.
Tanvi International Pte Ltd., shareholder, whose partial information is
as follows:
Year established : NA
Registered/business
address : 545 Orchard Road, #09-10, Far
East Shopping Centre, Singapore 238882
Business line : As an investment
holding co. with core interests in trading of diamond
No. of employees : NA
Civil litigation & winding-up petition records : None in our
database
Turnover :
NA
Current search indicates that SC is affiliated to Sejal Gems Pvt. Ltd.
whose partial information is as follows:
Year established : Late 1970's
Registered/business
address : 335-A & B Panchratna, Opera
House, Mumbai 400004, India.
Business line : It is engaged in
manufacturing, import & export of polished diamond. It provides a wide range of diamond cut, available in all sizes &
exported to Asia & USA.
No. of employees : NA
Civil litigation & winding-up petition records : None in our
database
Turnover :
NA
Shah Ritesh Kirtilal, director:
- He is by Indian nationality
- Also currently director of S.M. Jewels Pte. Ltd. (in Singapore)
Currently residing in Singapore & only visits Hong Kong for business
occasionally.
Registered residential address: Blk 2, Jalan Batu, #09-57, Singapore
431002.
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
Shah Jigneshkumar Narotamdas, director:
- He is by Indian nationality
- Also currently director of C & S Gems & Jewels Sdn. Bhd. (in
Malaysia)
Currently residing in Malaysia & only visits Hong Kong for business
occasionally.
Registered residential address: Blk 2, Jalan Batu, #09-57, Singapore
431002.
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 : 60 (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 in all sizes & quality (including
round shape, marquise shape, princess shape, tapers & baugetes shape).
Principal purchases :
Major
types of sourcing : Diamond
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : SC's affiliates
Buying
terms :
Intercompany account basis
Principal market :
Local--type
of customers : Manufacturers,
wholesalers, retailers & counterparts
Selling
terms : Credit of 14
to 30 days
Overseas--buying
countries : PR China
Selling
terms : L/C &
T/T
Total number of employees : 2.
Location: Maintaining its office
at the heading business address at a residential building in a shopping &
residential district.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Shum Yuk Chan
- Date of purchase & consideration : 15-5-1986 / HKD490,000
- Date of mortgage & secured amount : NA
- Mortgagee : NA
SC's local affiliate:
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- S. M. Jewels HK Ltd.
SC's overseas affiliates:
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- Sejal Diam Inc. (in USA)
- Sejal Gems (in India)
- Ariha Diamond Jewellery Pvt Ltd.
(in India)
- S.M. Jewels Pte Ltd. (in
Singapore)
- C & S Gems & Jewels Sdn. Bhd.
(in Malaysia)
- Priti Gems Co. Ltd. (in Thailand)
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average ( ) Fair (
) Poor (X) 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
operation, SC is not an active seeker of local commercial credit. Its expenses
in the form of accruals and servicing are reportedly met in a 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:
- Bank of China (HK) Ltd.
- Bank of India
- DBS Bank (HK) Ltd.
Upon a current contact,
Shah Darshan, SC's director, 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 11-2-2006 was nil.
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions