MIRA
INFORM REPORT
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Report Date : |
27.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
JIN GEMS |
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Registered Office : |
Flat C, 12/F., Mass Resources Development Building, 12 Humphreys
Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.06.1991 |
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Com. Reg. No.: |
14616728-000-06 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds and Jewellery Products, Emerald, 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
JIN GEMS
ADDRESS
Flat C, 12/F.,
Mass Resources Development Building, 12 Humphreys Avenue, Tsimshatsui, Kowloon,
Hong Kong.
PHONE: 2186 8785, 2367 1373
FAX: 2367 1511
E-MAIL: jingems@gmail.com
MANAGEMENT
Manager: Mr. Rajendra Kumar Daga
SUMMARY
Establishment: 19th June, 1991.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$90-110 million.
Employees: 6.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Flat C, 12/F., Mass
Resources Development Building, 12 Humphreys Avenue, Tsimshatsui, Kowloon, Hong
Kong.
BUSINESS REGISTRATION NUMBER
14616728-000-06
MANAGEMENT
Manager: Mr. Rajendra Kumar Daga
SOLE PROPRIETOR
Name: Mr. Rajendra Kumar DAGA
Residential Address:
Flat E, 13/F., Star Mansion, 3-5 Minden Road, Mody Road, Tsimshatsui, Kowloon,
Hong Kong.
HISTORY
The subject was
established on 19th June, 1991 as a sole proprietorship concern owned by Mr.
Rajendra Kumar Daga under the Hong Kong Business Registration Regulations.
At the very
beginning, the subject was located at Flat E, 13/F., Star Mansion, 3-5 Minden
Road, Mody Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat C, 4/F., Heung
Sun Mansion, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in December
1993, and further moved to the present address in May 2001.
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, precious stones, etc.
Employees: 6.
Commodities
Imported: India, Europe, etc.
Markets: Thailand, China, Taiwan, Japan,
Southeast Asia, Europe, North America, etc.
Annual Turnover: HK$90-110 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit & Loss: Making profits in the past years.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Normal.
GENERAL
Jin Gems is a sole
proprietorship set up and owned by Mr. Rajendra Kumar Daga who is an Indian. He is an India passport holder as well as a
Hong Kong ID Card holder.
Business commenced
in June 1991, the subject is trading in loose diamonds, emerald, precious
stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire,
Tanzanite, etc. Size of diamonds
supplied ranges from 0.50 point to 0.80 carat.
Diamonds supplied can be full cut or single cut.
The subject has
got marketing representative offices in Thailand, China, New York and
Malaysia. It also has got manufacturing
and administration office in Bombay, Surat and Jaipur of India.
The subject’s
overall business is satisfactory.
Annual sales turnover ranges from HK$90 to 110 million. Making a small profit every year.
Since the
subject’s history in Hong Kong is over seventeen years, consider it good for
normal business engagements.
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%)