MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
NASAA GEM
AND JEWELLERY COMPANY |
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Registered Office : |
Flat D, 9/F., Lising Court, 34-36 Granville Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.09.2006. |
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Com. Reg. No.: |
37151931-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds and Gem Stones. |
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
NASAA
GEM AND JEWELLERY
COMPANY
ADDRESS
Flat D, 9/F.,
Lising Court, 34-36 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2301 3888, 2301 2680
FAX: 2312 7888
E-MAIL: aakash@ctimail3.com
[The correct style of “Gaanyille” should be
“Granville”.]
MANAGEMENT
Manager: Mr. Sagar Mukesh Modi
SUMMARY
Establishment: 14th September, 2006.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond and Gem Trader.
Employees: Nil.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat D, 9/F., Lising
Court, 34-36 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
N. R. Gem Exports,
Hong Kong. (Same address)
Associated Company:-
N Kirtikumar &
Company, India.
BUSINESS REGISTRATION NUMBER
37151931-000-09
MANAGEMENT
Manager: Mr. Sagar Mukesh Modi
SOLE PROPRIETOR
Name: Mr. Sagar Mukesh MODI
Residential
Address: Flat D, 9/F., Lising Court, 34-36 Granville Road, Tsimshatsui,
Kowloon, Hong Kong.
HISTORY
The subject was
established on 14th September, 2006 as a sole proprietorship concern owned by
Ms. Nimisha Mukesh Modi under the Hong Kong Business Registration
Regulations. On 26th May, 2008, Mr.
Sagar Mukesh Modi joined in and replaced Ms. Nimisha Mukesh Modi as the sole proprietor. Ms. Nimisha Mukesh Modi retired on 27th May,
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 and gem stones.
Employees: Nil.
Materials/Commodities: Imported from India, Europe, etc.
Markets: Hong Kong, Southeast Asia, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making a very small profit in 2007.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd., Hong Kong.
Standing: Small.
GENERAL
Nasaa Gem and
Jewellery Company is a sole proprietorship owned by Mr. Sagar Mukesh Modi
who is an Indian.
The subject does
not have its own operating office. Its
registered address, located at Flat D, 9/F., Lising Court, 34-36 Granville Road
Tsimshatsui, Kowloon, Hong Kong, is also the residence of the sole
proprietor. Business is not very active
in Hong Kong.
The subject has
not employees in Hong Kong.
The subject is a
diamond and jewellery product trader.
Raw materials are imported from India and other European countries,
etc. Some of the commodities are
polished diamonds. Some of the raw
diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are exported or
re-exported to Taiwan, the Philippines, China, the United States, etc.
The subject has
got an affiliated company N. R. Gem Exports that is also in the subject’s
address. Established on 10th May, 1995,
N. R. Gem Exports is jointly owned by Ms. Nimisha Mukesh Modi and Mr. Mukesh
Babulal Modi. The former was the old
sole proprietor of the subject. The
business of N. R. Gem Exports is chiefly handled by Mr. Mukesh Babulal Modi.
The subject and N.
R. Gem Exports are owned and operated by the Modi family.
The subject has
got an associated firm in India known as N Kirtikumar & Company which seems
to be the subject’s supplier.
The subject’s
history in Hong Kong is just over two years.
Since the subject
does not have its own operating office and has no employees in Hong Kong,
consider it good for 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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)