MIRA INFORM
REPORT
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Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
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Name : |
GEMGOLD
INT’L |
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Registered Office : |
Room 1101, 11/F., CFC Tower, 22-28 Mody Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.12.2007 |
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Com. Reg. No.: |
38763117-000-12 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds, 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 : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 |
Company name
GEMGOLD INT’L
Company ADDRESS
Room 1101, 11/F., CFC Tower, 22-28 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2367 2833
FAX: 2301 2733
E-MAIL: gemgoldintl@biznetvigator.com
MANAGEMENT
Manager: Mr. Shridhar Venkataiah Naidu
SUMMARY
Establishment: 19th December, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: US$4.0~4.5 million.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Room 1101, 11/F., CFC Tower, 22-28 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
38763117-000-12
MANAGEMENT
Manager: Mr. Shridhar Venkataiah Naidu
SOLE PROPRIETOR
Name: Mr. Shridhar Venkataiah NAIDU
Residential
Address: 3/F., Front Block, Ocean
View Court, 25 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 19th December, 2007 as a sole proprietorship concern owned by Mr. Shridhar Venkataiah Naidu under the Hong Kong Business Registration Regulations.
There was a firm known as Gemgold International which was set up on 20th April 1990 bearing business registration number 13545948. The sole proprietor of this firm was Mr. Poluru Venkataiah Naidu. This firm ceased business on 23rd October, 2007 as a result of the death of the owner on the same date. This firm was located at Room 1102, 11/F., CFC Tower, 22‑28 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
On 19th December, 2007, a new firm bearing the name of Gemgold Int’l but with different business registration number 38763117 was established. The new firm is located at the next door of the old firm which is no longer exists.
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, etc.
Employees: 6.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: US, UK, Japan, Taiwan, Switzerland, etc.
Annual Turnover: US$4.0~4.5 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making 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
Gemgold Int’l is a sole proprietorship set up on and owned by Mr. Shridhar Venkataiah Naidu who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject is the successor to the old Gemgold International which was established on 20th April, 1990. Located at the next door of the old firm, the subject was founded by Naidu who is a family member of the owner of the old firm.
The subject is trading in the following commodities: all kinds of loose diamonds, natural fancy colour diamonds, round cut diamonds, 34-83-carat diamonds, 27-29-carat diamonds, 41-83-carat diamonds, etc. Commodities are imported from India, Belgium, etc. Prime markets are Hong Kong, China, South Korea, Taiwan, the United States, the United Kingdom, Japan, Taiwan, Switzerland, etc.
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 also going to take part in Hong Kong International Jewellery Show which will be held during the period of 16th to 20th February, 2012.
The annual sales turnover of the subject ranges from US$4.0 to 4.5 million. Making a small profit every year.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.70.95 |
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Euro |
1 |
Rs.63.63 |
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.