MIRA INFORM REPORT
|
Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VSD GEMS |
|
|
|
|
Registered Office : |
14-B, Kok Pah
Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
18.04.2005 |
|
|
|
|
Legal Form : |
Sole
Proprietorship. |
|
|
|
|
Line of Business : |
Importer,
Wholesaler and Exporter of all kinds of Diamonds and Jewellery Products,
Emerald, Precious Stones, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
VSD GEMS
Address
14-B, Kok Pah
Mansion,
58-60 Cameron
Road,
Tsimshatsui,
Kowloon,
Hong Kong.
ADDRESS
14-B, Kok Pah
Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2368 5647
FAX: 2368 5646
E-MAIL: arihant@netvigator.com
MANAGEMENT
Manager: Mr. Sunil Kumar Lunawat
SUMMARY
Establishment: 18th
April, 2005.
Organization: Sole
Proprietorship.
Capital: Not
disclosed.
Business Category:
Diamond
Trader.
Annual
Turnover: HK$8-10 million (Including affiliate)
Employees: 3. (Including affiliate)
Main Dealing
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Head Office:-
14-B, Kok Pah
Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
Arihant Gems, Hong
Kong. (Same address)
BUSINESS REGISTRATION NUMBER
35555559-000-04
MANAGEMENT
Manager: Mr. Sunil Kumar Lunawat
SOLE PROPRIETOR
Name: Mr. Sunil Kumar LUNAWAT
Residential
Address: Flat
A-5, 8/F., Block A, Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was established
on 18th April, 2005 as a sole proprietorship concern owned by Mr. Sunil Kumar
Lunawat under the Hong Kong Business Registration Regulations.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Wholesaler and
Exporter.
Lines: All kinds of diamonds and
jewellery products, emerald, precious stones, etc.
Employees: 3.
(Including affiliate)
Commodities
Imported: India, Belgium, other European countries, etc.
Markets: Japan, Australia, South Africa,
US, the Philippines, etc.
Annual Turnover: HK$8-10 million (Including affiliate)
Terms/Sales: L/C.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Made a very small profit in 2007.
Condition: Business
is normal.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met
trade commitments on time.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
VSD Gems is a sole
proprietorship set up on 18th April, 2005 and owned by Mr. Sunil Kumar Lunawat,
an Indian who has been in Hong Kong for a very long time. Lunawat is a Hong Kong ID Card holder.
The subject is a
diamond and gem trader. It has got an
affiliate known as Arihant Gems, also a sole proprietorship, located at its
operating address. Arihant Gems and the
subject are engaged in the same lines of business.
The subject is an
importer and wholesaler of diamonds and colour precious stones. The subject is specialized in brilliant cut
diamonds of all colours and sizes (white, TTLB, TTLC,) and fancy shapes
(tapper, bagguate, marquise, princesscut, rose cut, briollete) in all price range
as well as carat size of all prices.
Besides, the
subject also carries colour stones in emerald, ruby, and sapphire (pink
sapphire, yellow sapphire, blue sapphire, green garnet [Tsavorite], princess
cut, marquise, ovals, round and fancy sapphire) and also semi precious stones
like Blue Topaz, Amethyst, Citrine, Peridot, Aquamarine, Garnet, etc. Commodities are imported from India,
Belgium, other European countries, etc.
Prime markets are Japan, Australia, South Africa, the United States, the
Philippines, etc. Business is normal.
The business of
the subject and Arihant Gems is chiefly handled by Lunawat himself. The annual sales turnover of the two firms
ranges from HK$8 to 10 million. Making
a small profit every year.
On the whole,
consider the subject good for small business engagements.
COURT CASES
None per our.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)