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MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
LAXMI DIAMOND
(HK) LTD. |
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Registered Office : |
Room 802, 8/F, Guardforce Centre, 3 Hok Yuen Street East, Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.12.2003 |
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Com. Reg. No.: |
34135130 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter
of All kinds of Diamonds and Jewellery Products, Emerald, 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 compay
LAXMI
DIAMOND (HK) LTD.
ADDRESS
Room 802, 8/F, Guardforce
Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2311 9628
FAX: 2311 4498
E-MAIL: laxmi@laxmidiamondhk.com
MANAGEMENT
Managing
Director: Mr. Monikaben Rakesh Gajera
SUMMARY
Incorporated on: 5th December, 2003.
Organization: Private
Limited Company.
Capital: Nominal: HK$8,000,000.00
Issued: HK$800,000.00
Business Category: Diamond Trader.
Employees: 8.
Main Dealing
Banker: Wing Lung Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 802, 8/F,
Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Affiliated Companies:-
Komal Gems N.V.,
Belgium.
Laxmi Dia Jewels
Pvt. Ltd., India.
Laxmi Diamond
(Shanghai) Ltd., China.
Laxmi Diamond Pvt.
Ltd., India.
Laxmi Jewel Pvt.
Ltd., India.
Mili Star (N.Y.)
Inc., US.
Mili Star Co.
Ltd., Thailand.
BUSINESS REGISTRATION NUMBER
34135130
COMPANY FILE NUMBER
874076
MANAGEMENT
Managing
Director: Mr. Monikaben Rakesh Gajera
CAPITAL
Nominal Share
Capital: HK$8,000,000.00 (Divided into 8,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$800,000.00
SHAREHOLDERS
(As per registry dated 05-12-2007)
|
Name |
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No. of shares |
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Lalit Jivraj
PATEL |
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120,000 |
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Vipulkumar Kesubhai
BOGHANI |
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112,000 |
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Laxmi Jewel Pvt. Ltd. GJ-66 SDF VII,
Seepz, Andheri (E), Mumbai 400 096, India. |
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160,000 |
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Hirenkumar Rameshbhai KHUNT |
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408,000 |
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––––––– |
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Total: |
800,000 ====== |
DIRECTORS
(As per registry dated 16-05-2008)
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Name (Nationality) |
Address |
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Monikaben Rakesh GAJERA |
Room
802, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong
Kong. |
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Ashokkumar Haribhai GAJERA |
GJ-66
SDF VII, Seepz, Andheri (E), Mumbai 400 096, India. |
SECRETARY
(As per registry dated 05-12-2007)
|
Name |
Address |
Co. No. |
|
Wilson Business Administration Ltd. |
Room 1406&
1412, 14/F., 655 Nathan Road, Mongkok, Kowloon, Hong Kong. |
143657 |
HISTORY
The subject was
incorporated on 5th December, 2003 as a private limited liability company under
the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Komal Gems Ltd., name changed to the
present style on 19th November, 2005.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and
jewellery products, emerald, etc.
Employees: 8.
Commodities Imported:
India, Belgium, Israel, etc.
Markets: Japan, Thailand, other Asian
countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewelry
Manufacturers’ Association, Hong Kong.
FINANCIAL INFORMATION
Nominal Share
Capital: HK$8,000,000.00 (Divided into 8,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$800,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Maintaining a small profit every year.
Condition: Business is active and steady.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
Wing Lung Bank
Ltd., Hong Kong.
Antwerpse
DiamantBank NV, Hong Kong Branch.
Standing: Normal.
GENERAL
Laxmi Diamond (HK)
Ltd. is jointly owned by four Indian of whom Hirenkumar Ramsehbhai Khunt is the
largest shareholder holding 51% interest.
Being an
affiliated company of Laxmi Diamond Pvt. Ltd. [Laxmi Diamond], the subject is
one of the major diamond wholesalers in Southeast Asia. Having more than 30 years experience in
manufacturing diamonds products, Laxmi Diamond is now one of the largest
diamond manufacturing companies in India.
Laxmi Diamond is a
“sightholder” of the Diamond Trading Company [DTC] of India.
The subject is
specialised in diamonds, precious stones such as the following products:
·
Round Brilliant:
o
White -2, -6.5, +11, +15.5
o
TTLB -2, -6.5, +6.5, +11, +15.5 (All Shades)
o
Natts -2, -6.5, +6.5, +11, +15.5
·
Fancy Sharp:
o
1) Princess
o
2) Rose Cut
o
3) Tappers
·
Special Cut:
o
Gabrielle Diamond (105 facet)
Products are
exported to Southeast Asia, Eastern Europe, Japan, South Korea, North America,
Scandinavia, Taiwan, Western Europe, etc.
Besides the
subject, Laxmi Diamond has got affiliated companies in India, Belgium, China,
Thailand and the United States.
Laxmi Diamond has
had three jewellery brands: Cygnus in India, Noor in the United States and a
branded diamond Gabrielle also in the United States.
Currently, the
Chairman of Laxmi Diamond Group is Mr. Vasant Gajera.
The subject is
fully supported by Laxmi Diamond.
Overall business is satisfactory.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court Cases: None per our.
Property
information of the company:-
Property Location: Unit No. 2 on 8/F., Guardforce
Centre, 3 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Laxmi Diamond (HK) Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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29-01-2008 |
- |
Wing Lung Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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19-01-2005 |
Instrument: Debenture Property: 1) All stocks, shares, bonds and
securities of any kind whether marketable or othersiwe and all other
interests including loan capital of the Company 2) All book and other debts
revenues and claims 3) The uncalled capital
goodwill and all patents, patent applications, trade marks, trade names,
registered designs and copyrights and all licences and ancillary and
connected rights 4) The undertaking and all other assets of the
Company Mortgagee: Antwerpse
DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong
Branch. |
All money and liabilities |
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29-01-2008 |
Instrument: Mortgage Property: 5/718th parts or shares of and in Section
E of Kowloon Marine Lot No. 113 (Workshop Unit No. 2 on 8/F. of Guardforce
Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.) Mortgagee: Wing
Lung Bank Ltd., Hong Kong. |
All sums |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)