MIRA INFORM REPORT

 

 

Report Date :           

26.04.2011

 

IDENTIFICATION DETAILS

 

Name :

VENUS  JEWELS  (HK)  LTD.

 

 

Registered Office :

Room 1101-1102, 11/F., Cammer Commercial Building, 30-32 Cameron Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

25.01.2011

 

 

Com. Reg. No.:

53684095

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Nb

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

VENUS  JEWELS  (HK)  LTD.

 

 

Company ADDRESS

 

Room 1101-1102, 11/F., Cammer Commercial Building, 30-32 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2721 4200

FAX:                 2316 7695

E-MAIL:            venusjewels@hotmail.com

hameshseth@hotmail.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Hamesh Bhagchand Seth

 

 

SUMMARY

 

Incorporated on:             25th January, 2011.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Jewellery Trader.

 

Employees:                   3.  (Including associates in Hong Kong)

 

Main Dealing Banker:     Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Banking Relation:           Too early to comment.

 

Company ADDRESS

 

Registered Head Office:-

Room 1101-1102, 11/F., Cammer Commercial Building, 30-32 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

 

China Factory:-

6/F., 46 Yin Jian Road, Daluo Tang Shiqiao 511400, Panyu, Guangzhou, Guangdong Province, China.

[Tel: (86-20) 3480 6750;  Fax: (86-20) 3480 6760]

 

Holding Company:-

Excellent Diamonds Ltd., Hong Kong.

[Formerly known as Venus Jewels (HK) Ltd.]

 

Affiliated/Associated Companies:-  (Same address)

Mercury Impex, Hong Kong.

Princess Jewellery Co., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

53684095

 

 

COMPANY FILE NUMBER

 

1555504

 

 

MANAGEMENT

 

Managing Director:  Mr. Hamesh Bhagchand Seth

 

 

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

SHAREHOLDER

(As per registry dated 25-01-2011)

 

Name

 

No. of shares

Venus Jewels (HK) Ltd., Hong Kong.

[Now known as Excellent Diamonds Ltd.]

 

10,000

=====

 

 

DIRECTORS  

(As per registry dated 25-01-2011)

 

Name

(Nationality)

 

Address

Hamesh Bhagchand SETH

Flat A1-A5, 16/F., Portion No. 83, Main Roof, Hankow Centre, Tsimshatsui, Kowloon, Hong Kong.

 

Gorabh Vinodkumar JAIN

203 Jogani Apartments, Doongershi Road, Malabar Hill, Mumbai-6, M.S., India.

 

Seema SETH

Flat A1-A5, 16/F., Portion No. 83, Main Roof, Hankow Centre, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 25-01-2011)

 

Name

Address

Co. No.

Lodestar Secretaries Ltd.

13/F., Wah Kit Commercial Centre,
302 Des Voeux Road Central, Hong Kong.

0113023

 

 

HISTORY

 

The subject was incorporated on 25th January, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Excellent Diamonds Ltd., name changed to Prestige Diamonds Ltd. on 17th March, 2011, and further to the present style on 6th April, 2011.

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, etc.

 

Employees:                               3.  (Including associates in Hong Kong)

 

Commodities Imported:               India, Belgium, other European countries, etc.

 

Markets:                                   Hong Kong, Japan, other Asian countries, etc.

 

Annual Turnover:                        Too early to obtain figure.

 

Terms/Sales:                             L/C, T/T, etc.

 

Terms/Buying:                           L/C, 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

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Too early to comment.

 

Banker:                         Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Venus Jewels (HK) Ltd. has issued 10,000 ordinary shares of HK$1.00 each.  It is a wholly-owned subsidiary of Excellent Diamonds Ltd. [Excellent Diamonds], a Hong Kong-registered firm located at the same operating address.  The directors of the subject are Mr. Hamesh Bhagchand Seth, Mr. Gorahb Vinodkumar Jain and Mr. Seema Seth.  All the directors are Indian while the first and third are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

Having issued 1,702,000 ordinary shares of HK$10.00 each and incorporated on 6th August, 2003, Excellent Diamonds is equally owned by Mr. Saurabh Parekh and Mr. Hamesh Bhagchand Seth.  Excellent Diamonds was formerly also known as Venus Jewels (HK) Ltd., name changed to the present style on 28th March, 2011.  The subject and Excellent Diamonds are engaged in the same lines of business.

The subject is a diamond importer, exporter and wholesaler.  Products include single cuts, full cuts and fancy shapes — such as princess, baguettes, marquise, pearl, oval, emerald and heart.  Raw materials are imported from India, Belgium and other European countries.  Gemstones and diamonds are processed, polished and cut in China.  Finished products are marketed in Hong Kong, exported to Asian countries and Europe, etc.

The subject has got an affiliated factory in Panyu, Guangzhou, Guangdong Province, China.  This factory supplies the subject and Excellent Diamonds with all kinds of jewellery products.

In order to penetrate the international market further, Excellent Diamonds has taken part in fairs and exhibitions held in Hong Kong and other foreign countries such as Vietnam.

Since the history of the subject in Hong Kong is just over three months, on the whole, consider it good for normal business engagements on secured basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.73.35

Euro

1

Rs.64.78

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.