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MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
GEM
CREATION (HK) |
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Registered Office : |
Flat D, 14/F., Block 8, Whampoa Garden, Site 5, 7 Tak Fung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.08.2005 |
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Com. Reg. No.: |
35903788-000-08 |
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Legal Form : |
Sole Proprietorship |
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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 : |
Slow |
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Litigation : |
Exists |
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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Hong Kong |
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
GEM CREATION (HK)
Company
ADDRESS
Flat D, 14/F., Block 8, Whampoa Garden, Site 5, 7 Tak Fung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 9847 4464 (Mobile)
MANAGEMENT
Manager: Mr. Alpesh Devchand Bhai Ranpariya
SUMMARY
Establishment: 10th August, 2005.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
Company
ADDRESS
Head Office:-
Flat D, 14/F., Block 8, Whampoa Garden, Site 5, 7 Tak Fung Street, Hunghom, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
35903788-000-08
MANAGEMENT
Manager: Mr. Alpesh Devchand Bhai Ranpariya
SOLE
PROPRIETOR
Name: Mr. Alpesh Devchand Bhai RANPARIYA
Residential Address: Flat B, 6/F., Luxury Court, 9 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 10th August, 2005 as a sole proprietorship concern owned by Mr. Alpesh Devchand Bhai Ranpariya under the Hong Kong Business Registration Regulations.
Initially the subject was located at Unit M-9, 2/F., Kaiser Estate, Phase 3, 9‑11A Hok Yuen Street, Hunghom, Kowloon, Hong Kong, moved to the present address in May 2009.
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: Nil.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Capital: Not disclosed.
Profit or Loss: Keeping a balance account.
Condition: Business is fairly active.
Facilities: Making fairly active use of general banking facilities.
Payment: Delay payment experienced.
Commercial Morality: Fair.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Gem Creation (HK) is a sole proprietorship set up and owned by Mr. Alpesh Devchand Bhai Ranpariya who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject does not have its own operating office. Its registered address is in a private building located at Flat D, 14/F., Block 8, Whampoa Garden, Site 5, 7 Tak Fung Street, Hunghom, Kowloon, Hong Kong. This address is supposed to be the new residence of the sole proprietor. The subject has no employees in Hong Kong.
Business commenced in August 2005, the subject is a diamond importer, exporter and wholesaler. It is trading in cut and polished loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, etc. Commodities are imported from India, Belgium and other European countries, etc. After processing in Hong Kong, finished products are exported to Japan and other Asian countries. Business is just fair.
India is the subject’s main supplying country. Ranpariya has had business ties with a number of suppliers in India.
The subject is just a one-man company. Keeping a balance account or making a very small profit in the past years.
The subject’s business is chiefly handled by Ranpariya himself. He is trying to co-operate with the other Indian diamond traders in Hong Kong in order to expand its business.
In February 2011, Ranpariya was claimed by Pankaj Diamond, a diamond trading firm, for an amount due of HK$13,319,848.17.
Since the subject does not have its own operating office, has no employees and a litigation has been found in Hong Kong, on the whole, consider it good for business engagements on fully secured terms.
REMARKS:
Court case record:-
|
Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Feb. 2011 |
00186 |
Pankaj Diamond |
Alpesh Devchand Bhai Ranpariya trading as Gem Creation (HK) |
Debt |
HK$13,319,848.17 |
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 |
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.