MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRINCESS JEWELLERY CO. |
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Registered Office : |
Rooms 1101-02, 11/F, Cammer Commercial Building, Nos. 30‑32 Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.03.2002 |
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Com. Reg. No.: |
32462907 |
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Legal Form : |
Partnership. |
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Line of Business : |
Manufacturer
& Exporter of all kinds of fine jewellery with diamonds, & 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 : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name
PRINCESS JEWELLERY CO.
Address
Rooms 1101-02,
11/F., Cammer Commercial Building,
Nos. 30-32 Cameron
Road, Tsimshatsui,
Kowloon, Hong
Kong.
ADDRESS
Rooms 1101-02, 11/F., Cammer Commercial Building, Nos. 30-32 Cameron Road, Tsimshatsui, Kowloon,Hong Kong.
Phone: 2721 4200
Fax: 2316 7695
MANAGEMENT
Manager: Mr. Saurabh Parekh (Mobile Phone Number:
9630 4620)
SUMMARY
Establishment: 23rd
March, 2002.
Organization: Partnership.
Capital: Not
disclosed.
Business Category: Jewellery Trader.
Annual
Turnover: Approx. HK$60 million.
Employees: 3. (In Hong Kong) - jointly with associate
Main Dealing
Banker: Bank of India, Hong Kong
Branch.
Banking
Relation: Satisfactory.
ADDRESS
Registered Place of Business:-
Rooms 1101-02,
11/F., Cammer Commercial Building, Nos. 30‑32 Cameron Road,
Tsimshatsui, Kowloon, Hong Kong.
China Factory:-
6/F., No. 46 Yin Jian
Road, Daluo Tang Shiqiao 511400, Panyu, Guangzhou, Guangdong Province, China.
[Phone: (20) 3480
6750; Fax: (20) 3480 6760]
Associated with:-
Venus Jewel’s (HK)
Ltd., Hong Kong. (See attachment)
BUSINESS REGISTRATION NUMBER
32462907
MANAGEMENT
Manager: Mr. Saurabh Parekh (Mobile Phone Number:
9630 4620)
PARTNERS
1) Name:
Hemant Suparash Jain
Residential
Address: A-11-604 Siddharth Nagar Opp
Bhor Ind Borivali (E), Mumbai, India.
2) Name:
Pankaj Jain
Residential
Address: 12/F., Windsor Mansion,
29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was
originally established on 23rd March, 2002 as a sole proprietorship concern
owned by Mr. Vinay Shrimal under the Hong Kong Business Registration Regulations. Re-organized into a partnership business
since August 2004.
The following
table shows the changes of the partners since is establishment:-
|
Name |
Date admitted |
Date retired |
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Mr. Vinay Shrimal |
23-03-2002 |
01-08-2005 |
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Mr. Hemant Suparash Jain |
01-08-2004 |
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Mr. Pankaj Jain |
01-08-2005 |
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Its office was
initially located at Rooms 1302-3, 13/F., Tern Plaza, 5 Cameron Road,
Kowloon, Hong Kong. Relocated to Rooms 1101-02,
11/F., Cammer Commercial Building, Nos. 30-32 Cameron Road, Kowloon,
Hong Kong in December 2006; to Block 17, 6/F., 15-17 Cameron Road,
Kowloon, Hong Kong in January 2008; and finally returned to the present
address in July 2008.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer & Exporter.
Lines: All kinds of fine
jewellery with diamonds, & etc.
Employees: 3. (In Hong Kong) - jointly with associate
10. (In China)
Commodities
Imported: Mainly bought diamonds from
India.
Markets: Europe, Japan &
elsewhere.
Annual Turnover:
Approx. HK$60 million.
Terms/Sales: With or without L/C.
Terms/Buying: T/T or on credit basis.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss:
Operation is said to be profitable.
Condition: Kept in a normal manner.
Facilities: Is making use of general
banking facilities.
Payment: Regularly met.
Commercial
Morality: Satisfactory.
Bankers:-
Bank of India,
Hong Kong Branch.
DBS Bank
(Hong Kong) Ltd., Hong Kong.
Standing: Normal
GENERAL
Princess Jewellery
Co. [PJC] is a jewellery manufacturer which was originally founded in March
2002 by Mr. Vimay Shrimal, holder of India Passport No. Z1530767. Its office was formerly located at Rooms 1302-3,
13/F., Tern Plaza, 5 Cameron Road, Kowloon, Hong Kong.
PJC was
re-organized into a partnership business as Mr. H.S. Jain joined in as partner
in August 2004. Subsequently, Mr. Vimay
Shrimal quitted from the board and Mr. Pankaj Jain joined in as partner on 1st
August, 2005.
Currently, the
office of PJC is located at the same office of Venus Jewel’s (HK) Ltd. [VJHK].
With an issued
capital of HK$10 million, VJHK is jointly owned by Mr. Saurabh Parekh
(50%) and Mr. Hamesh Bhagchand Seth (50%).
VJHK is an importer and wholesaler of loose diamonds.
Main line of
business of PJC is engaged in the manufacture and export of fine jewellery with
diamonds and etc. It operates a China
factory at Panyu where it has a workforce of 10. All the marketing and sourcing activities are carried out in Hong
Kong office. China factory is only
responsible for the manufacturing works.
Products are mainly exported to Europe, Japan and etc.
Business is
maintained in a normal condition.
Nothing unfavourable heard about its activities.
May be considered
good for its normal business activities.
COURT CASES
None per our.
VENUS JEWELS
(HK) LTD.
ADDRESS
Rooms 1101-02, 11/F., Cammer Commercial Building, Nos. 30-32 Cameron Road, Tsimshatsui, Kowloon,Hong Kong.
BUSINESS REGISTRATION NUMBER
34101399
COMPANY FILE NUMBER
856107
DATE OF INCORPORATION
6th August, 2003.
CAPITAL
Nominal Share
Capital: HK$10,000,000.00 (Divided into 1,000,000 shares of HK$10.00 each)
Issued Share
Capital: HK$10,000,000.00
SHAREHOLDERS: (As
per registry dated 06-08-2008)
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Name |
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No. of shares |
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Saurabh PAREKH |
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500,000 |
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Hamesh Bhagchand SETH |
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500,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS: (As per
registry dated 06-08-2008)
Saurabh PAREKH
Seema SETH
Hamesh Bhagchand
SETH
SECRETARY
Lodestar
Secretaries Ltd., Hong Kong. (As per
registry dated 06-08-2008)
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)