MIRA
INFORM REPORT
|
Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GEM STONE COMPANY |
|
|
|
|
Registered Office : |
Room 1102, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kolwoon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.04.1988 |
|
|
|
|
Com. Reg. No.: |
11754484-000-04 |
|
|
|
|
Legal Form : |
Partnership. |
|
|
|
|
Line of Business : |
Importer and Exporter of Emerald, Ruby, Sapphire, Semi-Precious Stones, Beads, Jewellery Products, 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
GEM
STONE COMPANY
Address
Room 1102, 11/F., Block A, Focal Industrial Centre,
21 Man Lok Street, Hunghom, Kolwoon,
Hong Kong.
ADDRESS
Room 1102, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kolwoon, Hong Kong.
Phone: 2376 2154
Fax: 2376 2289
E-Mail: balugsco@netvigator.com
MANAGEMENT
Manager: Mr. Bal Kishan Agarwal
SUMMARY
Establishment: 25th April, 1988.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Jewellery Trader.
Annual Turnover: HK$18-20 million.
Employees: 15.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong..
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1102, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kolwoon, Hong Kong.
P.O. Box 90864, Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
Gem Stone Company Workshop, Hong Kong. (Same address)
[Established on 18-05-2005 under BR No. 11754484-003-04]
BUSINESS REGISTRATION NUMBER
11754484-000-04
MANAGEMENT
Manager: Mr. Bal Kishan Agarwal
PARTNERS
Name: Bal Kishan AGARWAL
Residential
Address: Flat B, 16/F., Windsor
Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Name: Ashishkumar SATYANARAYANAN
Residential
Address: 13-31 Ishwarya Appartments,
11th Cross Thillai Nagar, Trichy, India.
HISTORY
The
subject was established on 25th April, 1988 as a sole proprietorship concern
owned by Ravi Kant Agrawal under the Hong Kong Business Registration
Regulations.
The changes of owners are listed in the following table:-
|
Name |
Incoming Date |
Outgoing Date |
|
Ravi Kant Agrawal |
25-04-1988 |
04-01-1993 |
|
Bal Kishan Agarwal |
01-04-1991 |
|
|
Hari Kishan Agarwal |
01-04-1991 |
31-03-2001 |
|
Kumar Goyal Krishan |
14-02-1995 |
01-04-1997 |
|
Ashishkumar Satyanarayanan |
05-09-2004 |
|
At the very beginning, the subject was located at Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 16/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong in November 1988; to Flat D, 3/F., Hang Kwong Mansion, 25-29 Hankow Road, Tsimshatsui, Kowloon, Hong Kong in December 1991; to Flat C, 12/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong in April 2004; and further moved to the present address in December 2003.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: Emerald, ruby, sapphire, semi-precious stones, beads, jewellery products, etc.
Employees: 15.
Commodities Imported: India, Thailand, Europe, US, etc.
Markets: Europe, Asian countries, US, etc.
Annual Turnover: HK$18-20 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong..
Standing: Normal.
GENERAL
Gem Stone Company is a partnership jointly owned by Mr. Bal Kishan Agarwal and Mr. Ashishkumar Satyanarayanan. Being India passport holders, both of the partners have been in Hong Kong for a very long time.
The subject is a gemstone trader and jewellery product manufacturer. It imports, exports and wholesales the following commodities: Amethyst, Aquamarine, Citrine, Emerald, Gamet, Moonstone, Topaz, Tourmaline, Other Coloured Gemstones, etc.
In May 2005, the subject set up a workshop known as Gem Stone Company Workshop which is also located at the subject’s operating address. With the same business registration number, this workshop is engaged in processing and manufacturing all kinds of jewellery products.
The subject’s raw materials are chiefly imported from India, Thailand, Europe, US, etc. After processing, finished products are exported to Europe, Asian countries, the United States, etc. Business is rather active. Annual sales turnover ranged from HK$18 to 20 million. Making a small profit every year.
The subject’s business is handled by the two partners.
As the history of the subject is over twenty years in Hong Kong, consider it good for normal business engagements.
COURT CASES
None per our.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.71 |
|
UK Pound |
1 |
Rs.83.57 |
|
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%)