MIRA
INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KOOL GEMS |
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Registered Office : |
Room 606, 6/F., |
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Country : |
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Date of Incorporation : |
07.02.2006. |
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Com. Reg. No.: |
36421416-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of gemstones and
diamonds, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
KOOL GEMS
ADDRESS: Room 606, 6/F.,
PHONE: 2722 6444
FAX: 3677 3574, 2366 7275
MANAGEMENT
Manager: Mr. Karan Koolwal
SUMMARY
Establishment: 7th
February, 2006.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Gemstone Trader.
Employees:
3. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 606, 6/F.,
Associated
Companies:-
Prime Gems, Hong Kong. (Same
address)
Shree Prakash Gems,
BUSINESS REGISTRATION NUMBER
36421416-000-02
MANAGEMENT
Manager: Mr. Karan Koolwal
SOLE PROPRIETOR
Name: Mr. Karan KOOLWAL
Residential Address: Flat B,
16/F.,
HISTORY
The subject was established on 7th February, 2006 as a partnership
concern jointly owned by Mr. Karan Koolwal and Mr. Brijraj Singh Rathore under
the Hong Kong Business Registration Regulations. The subject became a sole proprietorship as
Brijraj Singh Rathore retired on 16th June, 2008.
Initially the subject was located at Flat B, 16/F., Hart Avenue Court,
19‑23 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in July 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of gemstones and diamonds, etc.
Employees: 3. (Including associate)
Commodities Imported:
Markets: Hong
Kong, other Asian countries,
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P,
etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making a very small profit every year.
Condition: Business
has been active.
Facilities: Making
rather active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Kool Gems Hong Kong is a sole proprietorship set up and owned by
Mr. Karan Koolwal who is an Indian.
He is an
The subject shares the operating address with another firm Prime Gems
which is also a Hong Kong-registered firm.
The manager of Prime Gems Mr. Rajeev Vijayvargiya Vijay is also an
Indian.
The subject and Prime Gems are engaged in the same lines of business,
more or less. Prime Gems is an
affiliated company of Shree Prakash Gems [SPG] which is an India-based
firm. The subject has had business ties
with SPG.
Founded in 1981, SPG is one of the most prominent manufacturers in the
pendants gemstone business specialized in silver pendants, wholesale pendants
currently working with world’s top jewellery companies and networks in
Jaipur. In order to maintain quality of
pendants with competitive prices, rough stones are imported directly form the
mines. SPG’s mission is to investigate
the customer’s need of wholesale pendants via regular market research. It also deals in all other precious and
semi-precious on order basis.
It is likely that SPG is the main supplier of the subject and Prime
Gems.
The subject’s business is chiefly handled by Mr. Karan Koolwal
himself. The subject wholesales
pendants, gemstones in Hong Kong and re-exports to
On the whole, as the history of the subject in
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.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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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NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.