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MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANKIT GEMS (HONG KONG) LTD. |
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Registered Office : |
Room 905, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.01.2005. |
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Com. Reg. No.: |
35539751 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Gems and
Diamonds, Precious Stones, etc |
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 of the company
ANKIT GEMS (HONG KONG) LTD.
ADDRESS
Room 905, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2721 2642, 2721 4642
FAX: 2721 3642
E-MAIL: mkkuvadia@hotmail.com
MANAGEMENT
Managing Director: Mr. Manan Kishorkumar Kuvadia
SUMMARY
Incorporated on: 17th January, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$3,120,000.00
Issued: HK$3,120,000.00
Business Category: Jewellery and Gem Trader.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 905, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
35539751
COMPANY FILE NUMBER
946347
MANAGEMENT
Managing Director: Mr. Manan Kishorkumar Kuvadia
CAPITAL
Nominal Share Capital: HK$3,120,000.00 (Divided into 3,120,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,120,000.00
SHAREHOLDERS
(As per registry
dated 17-01-2008)
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Name |
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No. of shares |
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Ankit Arunbhai SHAH |
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1,560,000 |
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Manan Kishorkumar KUVADIA |
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1,560,000 |
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–––––––– |
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Total: |
3,120,000 ======= |
DIRECTORS
(As per registry
dated 12-03-2008)
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Name (Nationality) |
Address |
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Manan Kishorkumar KUVADIA |
A-54, Ashopalav Flats, Sharavan Talkies Road, Surendranagar, 363001, Gujarat, India. |
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Ankit Arunbhai SHAH |
703 Shivam Building, Doongarshi Road, Malbar Hill, Mumbai 400006, India. |
SECRETARY
(As per registry
dated 17-01-2008)
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Name |
Address |
Co. No. |
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Stevensec Ltd. |
4/F. & 5/F., Central Tower, 28 Queen’s Road Central, Hong Kong. |
879348 |
HISTORY
The subject was incorporated on 17th January, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Black Sand Ltd., name changed to Ankit Gems Ltd. on 18th February, 2005 and further to the present style on 27th September, 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of gems and diamonds, precious stones, etc.
Employees: 4.
Commodities Imported: India, Belgium, Israel, etc.
Markets: Asian countries, Thailand, Middle East, United States, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: Various terms.
FINANCIAL INFORMATION
Nominal Share Capital: HK$3,120,000.00 (Divided into 3,120,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,120,000.00
Profit & Loss: Making a small profit in 2007.
Condition: Business is improving.
Facilities: Adequate for current running.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 3,120,000 ordinary shares of HK$1.00 each, Ankit Gems (Hong Kong) Ltd. is equally owned by Ankit Arunbhai Shah and Mr. Manan Kishorkumar Kuvadia. Both of whom are Indian.
The subject is a diamond importer, exporter and wholesaler.
The subject has got an affiliated company in Mumbai, India known as Ankit Gems.
Ankit Gems is a leading Government Recognized Trading House Unit engaged in manufacturing and exporting of all kinds of cut and polished diamonds. The founders of the company Mr. Arvindbhai Shah, Mr. Arunbhai Shah, Mr. Vasantbhai Shah, Mr. Pravinbhai Shah, Mr. Dilipbhai Shah and Mr. Dilipbhai Soni have been engaged in the line of business for the last 25 years.
Ankit Gems exports polished diamond of various shapes to worldwide countries. It imports raw material from various sources like Belgium, South Africa, Israel and Russia. It has got a plant in Surat, India which employs skilled labours and has been equipped with advanced equipment.
Ankit Gems can provide international certification of grading on customer demand from reputed laboratories like GIA (Gemological Institute of America), IGI (Indian Gemological Institute), IDI (Indian Diamond Institute), etc.
Ankit Gems and the subject is owned by the Shah family.
The subject is fully supported by Ankit Gems in India.
On the whole, since the history of the subject is short, consider it good for small business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
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. |
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%)