MIRA INFORM
REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
R.A.
GEM CENTRE LTD. |
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Registered Office : |
Room 912-913, 9/F., |
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Country : |
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Date of Incorporation : |
05.06.1998 |
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Com. Reg. No.: |
21790383 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer, Wholesaler and Exporter of all kinds of diamonds, precious stones, gems, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
R.A. GEM CENTRE
LTD.
Company ADDRESS
Room 912-913, 9/F.,
PHONE: 2721 8360, 2774 8000, 2723 8587
FAX: 2311 9377
E-MAIL: info@ragemcentre.com
MANAGEMENT
Managing Director: Mr. Ketan Kantilal Shah
SUMMARY
Establishment: 1989.
Incorporated on: 5th June, 1998.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Diamond Trader.
Employees: 35.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
company ADDRESS
Registered Head
Office:-
Room 912-913, 9/F.,
Holding Company:-
S.Vinodkumar International Pte. Ltd.,
Affiliated
Companies:-
S.Vinodkumar Group of Companies
Gemini Diamonds Inc.,
IDI Jewels Inc.,
Indian Diamond Imports Inc.,
S.V. Gems NV,
S.V.K. Jewels Pvt. Ltd.,
S.Vinodkumar Diamonds Pvt. Ltd.,
S.Vinodkumar DMCC, UAE.
etc.
BUSINESS REGISTRATION NUMBER
21790383
COMPANY FILE NUMBER
0646505
MANAGEMENT
Managing Director: Mr. Ketan Kantilal Shah
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDER
(As per registry dated 05-06-2010)
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Name |
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No. of shares |
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S.Vinodkumar International Pte. Ltd. 80, |
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100 === |
DIRECTORS
(As per registry dated 05-06-2010)
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Name (Nationality) |
Address |
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Ketan Kantilal SHAH |
Flat B, 21/F., Tower 1,
Harbourfront Landmark, 11 Wan Hoi Street, |
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Nilesh Vinodrai SHAH |
Flat H, 8/F., |
SECRETARY
(As per registry dated 05-06-2010)
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Name |
Address |
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Hojin SEC Ltd. |
Room 301, 3/F., Sun Hung Kai Centre, |
0612527 |
HISTORY
The subject was originally established in 1989 under the name of R.A. Gem Centre. Re-organized and incorporated on 5th June, 1998 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1201, 12/F., Chevalier House, 45‑51 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to Unit 30‑31, 4/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong in May 2003, and further to the present address in March 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer, Wholesaler and Exporter.
Lines: All kinds of diamonds, precious stones, gems, etc.
Employees: 35.
Materials/Commodities: Imported
from Europe,
Markets:
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: L/C, T/T and D/P.
MEMBERSHIP
·
Hong Kong Jewelry Manufacturers’ Association,
·
Shanghai Diamond
·
The Indian Chamber of Commerce Hong Kong,
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge: (See attachment)
Profit & Loss: Traded at a small profitable angle.
Condition: Keeping in a normal state.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd.,
The Royal Bank of
Antwerpse
Industrial & Commercial Bank of
Standing:
GENERAL
R.A. Gem Centre Ltd. is a private limited company incorporated in June 1998. It was jointly owned by two Indian: Mr. Ketan Kantilal Shah and Ms. Abhaykumar Sumatilal Shah. Now, it has become a wholly-owned subsidiary of S.Vinodkumar International Pte. Ltd. which is a Singapore‑based firm. The directors of the subject remains to be Ketan Kantilal Shah and Nilesh Vinodrai Shah.
The subject is a diamond importer and exporter.
For
three consecutive years since 1988, the subject has been awarded the “Second
Highest Importer of Diamonds” (
Mr. Shah established R.A. Gem Centre, which was the subject’s predecessor, in 1989. Now, the subject is engaged in manufacturing, wholesaling and exporting loose diamonds, brownish yellow diamonds, etc. Most of the diamonds have been certified by GIA, HRD and IGI.
The subject has been serving the jewellery manufacturing customers for over 20 years. It is catering to more than 300 customers, both jewellery manufacturers and retailers.
The
subject is one of the members of S.Vinodkumar Group of Companies [Group] of
In April 2003, the subject moved to Hunghom where is the jewellery district of Hong Kong. The subject’s floor area including a workshop covers nearly 14,000 sq.ft. with more than 35 staff. This office is fully equipped with fuller and wider range of diamonds in all colours and sizes, providing a one-stop shop for all walks of customers.
The
latest development of the Group is the penetration of the
Besides
the subject in Hong Kong, the Group has established several branch offices in
other major cities such as
The
subject’s major markets are
Rough
stones used by the subject are sourced from
The subject is also specialized in providing certified stones from sizes 0.30 to 5.00 carats.
The subject constantly has maintained a stock in abundance in order to cater not only general orders but big ones as well.
In
In
The
subject gets its supply of smaller sizes of medium to commercial make from
manufacturers in
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in
The annual sales turnover of the Group is very significant.
The
subject is fully supported by the Group and the Shah family of
On the whole, consider it good for normal business engagements.
REMARKS:
Court Cases: None per our records.
Property information of the company:-
Property Location: Workshop Unit No. 12 & 13 on 9/F..
Owner: R.A. Gem Centre 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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13-06-2008 |
- |
Antwerpse |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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15-10-2003 |
Instrument: Debenture Property: 1) All freehold and leasehold property of the Company 2) All stocks shares bonds and securities of any kind whether marketable or otherwise and all other interests including loan capital of the Company 3) All book and other debts revenues and claims 4) The uncalled goodwill and all patents patent applications trade marks trade names registered designs and copyrights and all licences and ancillary and connected rights relating to the intangible property 5) The undertaking and all other assets of the Company Mortgagee: Antwerpse |
The general credit faciliteis for the sum of HK$46,800,000 |
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13-06-2008 |
Instrument: Mortgage Property: 172/13,205th parts or shares of and in Section F of Kowloon Marine Lot No. 113 and Section H of Kowloon Marine Lot No. 113 (Workshop Unit No. 12 & 13 on 9/F. of Harbour Centre Tower 1, 1 Hok Cheung Street, Kowloon, Hong Kong.) Mortgagee: Antwerpse |
All sums |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.53 |
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|
1 |
Rs.72.56 |
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Euro |
1 |
Rs.60.62 |
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.