MIRA INFORM REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
BHAVANI HONG KONG
LTD. |
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Registered Office : |
Room 404, 4/F., Chevalier House, |
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Country : |
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Date of Incorporation : |
16.03.2006 |
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Com. Reg. No.: |
36549048 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery
products, emerald, precious stones, 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 : |
Moderate |
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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 |
Company
name
BHAVANI HONG
KONG LTD.
company
ADDRESS
Room 404, 4/F., Chevalier House,
PHONE: 2368 6769, 2368 4330
FAX: 2368 6979
E-MAIL: alpesh@bhavanihk.com
MANAGEMENT
Managing Director: Mr. Alpesh
Manubhai Ahir (Mobile: 6305 2889)
SUMMARY
Incorporated on: 16th
March, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$50~55
million.
Employees:
7.
Main Dealing Banker: Hang Seng Bank Ltd.,
Banking Relation: Satisfactory.
company
ADDRESS
Registered Head Office:-
Room 404, 4/F., Chevalier House,
Headquarters:-
Bhavani Gems
101, Prasad Chambers, M. P. Marg, Opera House, Mumbai-400004,
[Tel: 91-22-2367 9521, 4034
9500 (100 lines)
Fax: 91-22-2363 3538
E-mail: info@bhavanigems.com]
Affiliated Companies:-
Instyle Jewellery,
Star Diam
Super Diam B.V.B.A.,
BUSINESS
REGISTRATION NUMBER
36549048
COMPANY
FILE NUMBER
1030955
MANAGEMENT
Managing Director: Mr. Alpesh
Manubhai Ahir
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 16-03-2010)
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Name |
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No. of shares |
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Pradeep Jagdish JHAVERI |
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5,000 |
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Khadela SAMIR |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 16-03-2010)
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Name (Nationality) |
Address |
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Alpesh Manubhai AHIR |
Flat B, 12/F., |
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Khadela SAMIR |
49 Quinten Matsijslei, B-2018 |
SECRETARY
(As per registry dated 16-03-2010)
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Name |
Address |
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Willie Management Services Ltd. |
Room 907, 9/F., Wing Tuck Commercial Centre, |
1159285 |
HISTORY
The subject was incorporated on 16th March, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1206, 12/F., Hang Seng Tsim Sha
Tsui Building, 18 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address with effect from 2nd June, 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 7.
Commodities Imported:
Markets:
Annual Turnover: HK$50~55
million.
Terms/Sales:
L/C, T/T, D/P, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL
INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Mortgage or Charge:-
Date of Mortgage: 30-04-2010
Amount: All moneys
Property: 98/19,060th parts or shares of and in
The Remaining Portion of Kowloon Inland Lot No. 7072 and Kowloon Inland Lot No.
8670, 8567 & 7074 (Unit 4 on 4/F. of Chevalier House, 45‑51 Chatham
Road South, Kowloon, Hong Kong.)
Mortgagee: Hang
Seng Bank Ltd.,
Profit & Loss: Making a small profit in 2009.
Condition: Business
is improving.
Facilities: Adequate
for current running.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Hang Seng Bank Ltd.,
The Hongkong & Shanghai Banking Corp.
Ltd.,
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Bhavani Hong Kong
Ltd. is equally owned by Mr. Pradeep Jagdish Jhaveri and Mr. Khadela
Samir. Both of the shareholders are
Indian. The first is residing in
Hong Kong while the latter is an
The subject’s Managing Director Mr. Alpesh Manubhai Ahir has been in
The subject is trading in cut and polished diamonds, diamond and gold
jewellery, carat size diamonds, fancy diamonds, loose diamonds, diamond
jewellery, platinum jewellery, etc.
Products are mainly imported from
The subject is an affiliate of Bhavani Gems which is an India-based
firm. The subject is responsible for
promoting Bhavani Gems throughout the Asia Pacific region by distributing its
products in the form of “Regular, high-end gems and diamonds in pointers carat
plus sizes”.
Mr. Manjibhai Dholakia is the senior partner and founder of Bhavani
Gems.
The subject has got an affiliated company known as Instyle Jewellery
which is also an India-based firm.
Instyle Jewellery has been a Sightholder of DTC (Diamond Trading
Company) since 1996, and is an ISO 9001 certified company. It is a major manufacturer of round and
tapers polished diamonds, and offers jewellery manufacturers and retailers in
the
Bhavani Gems offers customers worldwide with consistent assortment and
just in time delivery. It is trading in
three types of products: Gems, High and Regular. Bhavani Gems markets diamonds of various
sizes in rounds, princess and fancy shapes.
Bhavani Gems is a Sightholder of DTC.
It also has got the ISO-9001:2000 certification and it is the winner of
GJEPC India’s export award which is a symbols of its “hard work and
achievement”. Currently, it is operating
twelve factories in
In April 2008, DTC released the names of all 79 companies that are UK
Sightholders for the 2008 to 2011 contract period while Bhavani Gems is one of the
firms. In 2009, Bhavani Gems introduced
B2B online website for business development.
In 2010, Bhavani Gems started to manufacture “Bhavani Mikro Diamond”
which is the world’s smallest certified polished diamond which are Weshing
0.0003 Crt or 0.00006 Gram (3333.33 pcs per Carat). This record has also been acknowledged by
“Limca book of record”. Bhavani Gems
installed the 1st ever Quazer II Sarin laser machine in the world in its
factory in
The subject is engaged in the same lines of business as Instyle
Jewellery.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in
Bhavani Gems’ business is handled by Mr. Nilesh Jhaveri who seems to be
a family member of Mr. Pradeep Jagdish Jhaveri.
The subject has had an affiliate Super Diam B.V.B.A. in
The subject is fully supported by Bhavani Gems. Annual sales turnover ranges from HK$50 to 55
million. Business is improving.
Since the history of the subject is over four years and nine months in
REMARKS
Court Cases: None per our.
Property information of
the company:-
Property
Location: Unit 4 on 4/F.,
Chevalier House,
Owner: Bhavani
Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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30-04-2010 |
- |
Hang Seng Bank Ltd., |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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1 |
Rs.72.56 |
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Euro |
1 |
Rs.63.92 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.