MIRA INFORM REPORT

 

 

Report Date :

27.01.2011

 

IDENTIFICATION DETAILS

 

Name :

COSMOPOLITAN  GEMS

 

 

Registered Office :

Room 1601, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.07.1996

 

 

Com. Reg. No.:

20027177-000-07

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer and Exporter of all kinds of diamonds, precious stones, semi-precious stones, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

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

 

COSMOPOLITAN  GEMS

 

 

company ADDRESS    

 

Room 1601, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2366 9651

 

 

MANAGEMENT

 

Manager:  Ms. Raj Shree Parwal

 

 

SUMMARY

 

Establishment:                          1st July, 1996.

 

Organization:                  Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     Indian Overseas Bank, Hong Kong Branch.

 

Banking Relation:           Fair.

company ADDRESS

 

Head Office:-

Room 1601, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

20027177-000-07

 

 

MANAGEMENT

 

Manager:  Ms. Raj Shree Parwal

 

 

SOLE PROPRIETOR

 

Name:                           Ms. Raj Shree PARWAL

Residential Address:      Flat 1, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st July, 1996 as a sole proprietorship concern owned by Ms. Raj Shree Parwal under the Hong Kong Business Registration Regulations.

Formerly, the subject was located at Flat E, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat A (renamed Flat 1 or Room 1601) of the same floor and same building in June 2008.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of diamonds, precious stones, semi-precious stones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, Israel, etc.

 

Markets:                       India, other Asian countries, etc.

 

Terms/Sales:                  L/C or as per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit & Loss:                Made very small profits in the past years.

 

Condition:                      Business is fairly active.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments on time.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Indian Overseas Bank, Hong Kong Branch.

 

Standing:                      Small.

 

 

GENERAL

 

Cosmopolitan Gems is a sole proprietorship set up and owned by Ms. Raj Shree Parwal who is an Indian residing in Hong Kong for a very long time.  She is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject’s registered and operating address is located at Flat 1, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong which is in a residential building.  The subject’s registered address is also the residential address of the sole proprietor.

The subject is a diamond, precious, semi-precious stone and jewellery product trader and wholesaler.  Loose diamonds and rough diamonds are chiefly imported from India, Belgium and other European countries, etc.  Rough diamonds and precious stones are polished or processed in Hong Kong or China.  Finished products, cut and polished diamonds are exported to Japan, India and other Asian countries.  Some of the products are also wholesaled in Hong Kong.  Business is fairly active.

The subject’s business is chiefly handled by Ms. Parwal herself.  It has had no other employees.  Seemed to be a one-person-company.

Over the past years, the subject managed to keep a balance account or just made very small profits.

The subject’s history in Hong Kong is over fourteen years.

On the whole, since the subject is just a small diamond trading company, consider it good for normal business engagements in small credit amounts.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.53

UK Pound

1

Rs.72.78

Euro

1

Rs.62.14

 

 

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

 

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.