MIRA
INFORM REPORT
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Report Date : |
13th March, 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
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INCORPORATION DATE |
2-9-1991 |
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REGISTRATION NO. |
14845597 |
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REGISTERED LEGAL FORM |
SOLE PROPRIETORSHIP |
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STAFF STRENGTH |
2 |
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AUTHORIZED
CAPITAL |
[IN HK, UNLIMITED COS. ARE NOT
REQUIRED TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE INLAND REVENUE)] |
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PAID-UP CAPITAL |
NOT APPLICABLE |
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BUSINESS LINE |
IMPORT & SUPPLY OF DIAMOND & OTHER JEWELLERY |
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TURNOVER |
N/A (AS OF DEC. 31,
2005) |
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EQUITIES |
N/A (AS OF DEC. 31,
2005) |
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PAYMENT |
AVERAGE |
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RECOMM. CREDIT RANGE |
MODERATE AMOUNT |
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MARKET CONDITION |
COMPETITIVE |
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FINANCIAL CONDITION |
STABLE |
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OPERATIONAL TREND |
STEADY |
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GENERAL REPUTATION |
AVERAGE |
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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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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%)