MIRA INFORM
REPORT
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Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SUNNY
GEM CO. |
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Registered Office : |
Unit 15, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.01.1989 |
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Com. Reg. No.: |
12388773-000-01 |
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Legal Form : |
Partnership concern |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and gem stones, 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 : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
Company name
SUNNY GEM
CO.
Company ADDRESS
Unit 15, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2722 5574
FAX: 2311 0850
E-MAIL: sales@sunnygemco.com
MANAGEMENT
Manager: Mr. Sunil Mundra
SUMMARY
Establishment: 5th January, 1989.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Gem and Precious Stone Trader.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COMPANY ADDRESS
Head Office:-
· Unit 15, 11/F., Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
· P.O. Box 97152, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
China Office:-
Guangzhou, Guangdong Province, China.
[Tel: (86-20) 6194 1655, 6194 1669; Fax: (86-20) 6194 1645]
BUSINESS REGISTRATION NUMBER
12388773-000-01
MANAGEMENT
Manager: Mr. Sunil Mundra
PARTNERS
Name: Mr. Sunil MUNDRA
Residential Address: House C, 11B Cambridge Road, Kowloon Tong, Kowloon, Hong Kong.
Name: Mr. Priyanka MUNDRA
Residential Address: House C, 11B Cambridge Road, Kowloon Tong, Kowloon, Hong Kong.
HISTORY
The subject was established on 5th January, 1989 as a sole proprietorship concern owned by Mr. Rajendra Kumar Maheshwari under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Rajendra Kumar Maheshwari |
05-01-1989 |
20-04-1989 |
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Rajendra Kumar Mundra |
10-04-1989 |
01-04-1998 |
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Simla Mundra |
01-04-1993 |
26-05-1994 |
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Sunil Mundra |
01-04-1995 |
02-05-2002 |
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Vinod Mundra |
04-07-1996 |
01-04-2003 |
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Priyanka MUNDRA |
01-04-2010 |
- |
Initially the subject was located at Flat C, 17/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong., moved to Flat F & G, 16/F. of the same building in January 1996; to Flat F & G, 17/F.of the same building in December 1998; moved back to Flat C, 17/F. of the same building in July 2004; and further to the present address in June 2005.
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 gem stones, emerald, precious stones, etc.
Employees: 3.
Commodities Imported: India, Belgium, Israel, Thailand, etc.
Markets: Japan, Southeast Asia, Europe, Middle East, Scandinavia, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers Association, Hong Kong.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Sunny Gem Co. is a partnership owned by the Mundra family. Set up on 5th January, 1989, the subject was jointly owned by three Indian partners: Rajendra Kumar Mundra, Simla Mundra and Sunil Mundra. On 1st April, 2010, the partners were changed. Now, the subject is jointly owned by Sunil Mundra and Priyanka Mundra. The latter joined in the subject as a partner on 1st April, 2010.
The subject is trading in the following commodities:-
|
Product/Service |
Product/Service Remarks |
|
Emerald (Round-Cut and Oval-Cut) |
From India |
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Ruby |
From India |
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Sapphire (blue or coloured) |
From India |
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Diamond |
From India |
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Other Precious Stones |
From
India |
The subject has got a number of affiliated suppliers in India. Prime markets are Hong Kong, Japan, Southeast Asia, Taiwan, North America, Eastern & Western Europe, etc.
In Hong Kong, the subject has had a business partner known as Sunlight Jewelers Hong Kong Ltd. [Sunlight]. Sunlight has had an affiliated factory in China employing about 200 persons. At present, Sunlight is located at the next door of the subject.
The subject has set up an office in Guangzhou, Guangdong Province, China.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2012.
Since the history of the subject in Hong Kong is over twenty-two years and seven months, it has developed closed business with a number of regular suppliers and foreign customers. Business is rather active.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.61 |
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UK Pound |
1 |
Rs.75.32 |
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Euro |
1 |
Rs.65.68 |
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.