MIRA INFORM REPORT

 

 

Report Date :           

02.08.2011

 

IDENTIFICATION DETAILS

 

Name :

PARAM  DIAJEWELS

 

 

Registered Office :

Front Portion, 4/F., Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.10.2008

 

 

Com. Reg. No.:

39864522-000-10

 

 

Legal Form :

Partnership

 

 

Line of Business :

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

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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  

 

PARAM  DIAJEWELS

 

 

Company ADDRESS

 

Front Portion, 4/F., Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Jignesh Dilip Gosalia

 

 

SUMMARY

 

Establishment:                          9th October, 2008.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

 

 

Company ADDRESS

 

Head Office:-

Front Portion, 4/F., Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

39864522-000-10

 

 

MANAGEMENT

 

Manager:  Mr. Jignesh Dilip Gosalia

 

 

PARTNERS

 

Name:                           Mr. Utkarsh Hemkapur PATEL

Residential Address:      Front Portion, 4/F., Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon, Hong

Kong.

 

Name:                           Mr. Jignesh Dilip GOSALIA

Residential Address:      10/F., Creative Mansion, 6 Chatham Court, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 9th October, 2008 as a partnership concern jointly owned by Mr. Utkarsh Hemkapur Patel and Mr. Jignesh Dilip Gosalia under the Hong Kong Business Registration Regulations.

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, etc.

 

Employees:                   Nil.

 

Commodities Imported:                India, other Asian countries, etc.

 

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

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Keeping a balance account in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Param Diajewels is a partnership jointly owned by Mr. Utkarsh Hemkapur Patel and Mr. Jignesh Dilip Gosalia, both of whom are Indian.  The two partners are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

The subject’s registered address is located at 4/F., Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  This is also the residential address of Utkarsh Hemkapur Patel.  Jignesh Dilip Gosalia is residing at a different address.  Currently, he is residing at the premises owned by him located at 10/F., Creative Mansion, 6 Chatham Court, Tsimshatsui, Kowloon, Hong Kong.  The subject has no employees in Hong Kong.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

Business commenced in October 2008, the subject is a diamond trader.  It is carrying loose diamonds, polished and cut diamonds.  Most of the commodities are imported from India, other Asian countries and Europe.  Prime markets are Hong Kong, Japan and the other Asian countries.

The subject’s business is handled by the two partners.  Business is fairly active.

On the whole, since the history of the subject is just over two years and nine months and its office is in a residential building, consider it good for normal business engagements on secured basis.

 

REMARKS:

 

Property information of the partner:-

Property Location:                   10/F., Creative Mansion, 6 Chatham Court, Kowloon, Hong Kong.

Owner:  Darshna Hemkapur Patel & Jignesh Dilip Gosalia (Joint tenants)

Date of Purchase:  12-06-2008

Purchased Price:  HK$2,590,000

 

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

12-06-2008

-

DBS Bank (Hong Kong) Ltd., Hong Kong.

Mortgage to secure general banking facilities

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.05

UK Pound

1

Rs.72.40

Euro

1

Rs.63.46

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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