MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
COSMOPOLITAN GEMS |
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Registered Office : |
Room 1601, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.07.1996. |
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Com. Reg. No.: |
20027177-000-07 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds, Precious Stones, Semi-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
COSMOPOLITAN
GEMS
ADDRESS
Room 1601, 16/F.,
Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2366 9651
MANAGEMENT
Manager: Ms. Raj Shree Parwal
SUMMARY
Establishment: 1st July, 1996.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Fair.
ADDRESS
Head Office:-
Room 1601, 16/F.,
Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
20027177-000-07
MANAGEMENT
Manager: Ms. Raj Shree Parwal
SOLE PROPRIETOR
Name: Ms. Raj Shree PARWAL
Residential
Address: Flat 1, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon,
Hong Kong.
HISTORY
The subject was
established on 1st July, 1996 as a sole proprietorship concern owned by Ms. Raj
Shree Parwal under the Hong Kong Business Registration Regulations.
Formerly, the
subject was located at Flat E, 16/F., Star Mansion, 3-5 Minden Row,
Tsimshatsui, Kowloon, Hong Kong, moved to Flat A (renamed Flat 1 or Room 1601)
of the same floor and same building in June 2008.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds, precious stones, semi-precious stones, etc.
Employees: Nil.
Commodities Imported: India, Belgium, Israel, etc.
Markets: India, other Asian countries, etc.
Terms/Sales: L/C
or as per contracted.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Made small profits in the past years.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
GENERAL
Cosmopolitan Gems
is a sole proprietorship set up and owned by Ms. Raj Shree Parwal who is an
Indian residing in Hong Kong for a very long time. She is a Hong Kong ID Card holder.
The subject’s registered
and operating address is located at Flat 1, 16/F., Star Mansion, 3-5 Minden
Row, Tsimshatsui, Kowloon, Hong Kong which is in a residential building. The subject’s registered address is also the
residential address of the sole proprietor.
The subject is a
diamond, precious, semi-precious stone and jewellery product trader. Raw materials are imported from India,
Belgium and other European countries, etc.
The raw diamonds and precious stones are polished or processed in Hong
Kong. Finished products and polished
diamonds are exported to Japan, India and other Asian countries. Business is fairly active.
The subject’s
business is chiefly handled by Ms. Parwal herself. The subject has had no other employees.
Over the past
years, the subject managed to keep a balance account or just made very small
profits.
The subject’s
history in Hong Kong is over twelve years.
Since the subject
is a small diamond trading company, consider it good for normal business
engagements on L/C basis.
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.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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%)