MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ROSEY
GEMS |
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Registered Office : |
Flat C, 6/F, Hang Wan Building,42-44 Granville Road,
Tsimshatsui, Kowloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.03.2004 |
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Com. Reg. No.: |
34320830 |
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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 : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
ROSEY
GEMS
FLAT
C, 6/F, HANG WAN BUILDING,42-44 GRANVILLE ROAD, TSIMSHATSUI, KOWLOON, HONG
KONG.
TEL : 852 64939667 / 23698444
FAX : 852 23698444
EXECUTIVE SUMMARY
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INCORPORATION
DATE |
2-3-2004 |
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REGISTRATION
NO. |
34320830 |
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REGISTERED
LEGAL FORM |
PARTNERSHIP |
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CHIEF
EXECUTIVE |
PARIKH JIGAAR
(PARTNER) |
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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 |
TRADING OF FINE 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 |
SMALL AMOUNT |
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MARKET
CONDITION |
COMPETITIVE |
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FINANCIAL
CONDITION |
STABLE |
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OPERATIONAL
TREND |
FAIRLY STEADY |
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GENERAL
REPUTATION |
AVERAGE |
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EXCHANGE
RATE |
HKD 7.81507 = USD1 AS OF 2007-3-12 |
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
The correct address of SC is the heading one instead of
"P.O. Box No.92271, TST, Kowloon" given by you.
SC was established under Business Registration number
34320830 on 2-3-2004 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
- Shah Samir Indulal / ZZ4101021 2/F,
Navjivan Society,
Lamington
Road, Bombay, India.
- Shah Priyesh Arun / ZZ4194313 162 J S
S Rd, 1/7, Mohun Bldg.,
Next
to Maiestic Shopping Ctr.,
Girgaum
Mumbai 40004, India.
- Shah Jimeet Girishbhai /
ZZ5262517 Same
as heading business address
- Parikh Jigaar / A9043587 Flat
G, 5/F, Windsor Mansion,
29-31
Chatham Road,
Tsimshatsui,
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
Jhaveri Atul Bharat Kumar 24-5-2005
Name(s) of retired partner(s) Leaving
date
Shah Samir Indulal 20-9-2004
Shah Priyesh Arun 24-5-2005
Shah Jimeet Girishbhai 19-12-2006
SC's registered address:
Flat D, 14/F, Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon,
HK.
Total number of employees :
2.
Location :
Maintaining its office at the
heading business address which occupies a gross area of 350 square feet at a
commercial & residential building in a shopping & residential district.
Condition inside the premises during our visit :
Normal.
Office/factory layout :
Standard.
Reportedly, SC also maintains representative office in
Shenzhen, Guangdong Province, PR China.
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.
Parikh Jigaar, partner:
- Born in 1985
- He is by Indian nationality
- He has 4 years of experience in present field
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
Shah Jimeet Girishbhai, 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 : 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 trading of fine jewellery.
Items available include diamond, precious &
semi-precious stones
Principal purchases :
Major types of sourcing :
Diamond
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Wholesalers
Selling terms :
COD & credit of 30 to 60 days
Overseas--buying countries :
PR China & Thailand
Selling terms :
L/C & T/T
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
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: HSBC.
Upon a
current contact, Parikh Jigaar, 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.
SC is considered a new concern just starting, with a
comparatively limited track record in its performance. Credit should be confined to small amount at
present.
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%)