MIRA INFORM REPORT

 

 

Report Date :           

21.07.2011

 

IDENTIFICATION DETAILS

 

Name :

RONAK  GEMS

 

 

Registered Office :

Flat J, 3/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.10.1989

 

 

Com. Reg. No.:

13129493-000-10

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, 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 :

Small Company 

 

 

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

 

 Bottom of Form

 

Company name

 

RONAK  GEMS

 

 

Company ADDRESS

 

Flat J, 3/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong.

PHONE:            2311 2102

FAX:                 2721 0173

 

 

MANAGEMENT

 

Manager:  Mr. Rajendrakumar Jayantilal Soni

 

 

SUMMARY

 

Establishment:                          30th October, 1989.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Gemstone Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat J, 3/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong.

 

P.O. Box 86207, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

 

Affiliated Company:-

Hong Kong Capital Co., Hong Kong.  (Same owner and same address)

 

 

BUSINESS REGISTRATION NUMBER

 

13129493-000-10

 

 

MANAGEMENT

 

Manager:  Mr. Rajendrakumar Jayantilal Soni

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Rajendrakumar Jayantilal SONI

Residential Address:      14/F., Front Portion, Ocean View Court, 25 Chatham Road, Tsimshastui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 30th October, 1989 as a sole proprietorship concern owned by Mr. Rajendrakumar Jayantilal Soni under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Rajendrakumar Jayantilal Soni

30-10-1989
10-10-2001

07-07-1992
-

Mayur Gambhirdas Gandhi

06-07-1992

02-10-1998

Pravin Kirtilal Mehta

01-10-1998

11-10-2001

 

Initially the subject was located at Flat E, 16/F., Windsor Mansion, 29‑31 Chatham Road, Tsimshastui, Kowloon, Hong Kong, moved to 13/F., 23 Chatham Road, Tsimshastui, Kowloon, Hong Kong in July 1990; to Flat A, 5/F., Hilton Tower, 96 Granville Road, Tsimshastui, Kowloon, Hong Kong in February 1992; to Room 501, 5/F., Polly Commercial Building, 21-23A Prat Avenue, Tsimshastui, Kowloon, Hong Kong in May 1993; to Flat D & E, 16/F., Cameron Plaza, 23-25A Cameron Road, Tsimshastui, Kowloon, Hong Kong in November 1993; to Room 108, 1/F., Wing On Plaza, 62 Mody Road, Tsimshastui East, Kowloon, Hong Kong in October 1998; to Flat 7 & 8, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong in May 2004; to 14/F., Front Portion, Ocean View Court, 25 Chatham Road, Tsimshastui, Kowloon, Hong Kong in July 2004; to Flat B, 7/F., Golden Mansion, 83-85 Chatham Road, Tsimshastui, Kowloon, Hong Kong in August 2005; to Flat F, 26/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong in July 2007; to Flat D, 18/F., Block 1 of the same building in July 2008; to Flat G, 3/F., Block 2 of the same building in December 2009; and further moved to Flat J, 3/F., Block 2 of the same building in January 2010.

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 products, emerald, precious stones, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European and Asian countries, etc.

 

Markets:                       Hong Kong, other Asian countries, North America, Western Europe, etc.

 

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 normal condition.

           

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

·         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

·         DBS Bank (Hong Kong) Ltd., Hong Kong.

 

Standing:  Small.

 

 

GENERAL

Ronak Gems is a sole proprietorship set up and owned by Rajendrakumar Jayantilal Soni who is an Indian.  Soni retired from the subject in July 1992 but joined in again in October 2001.  Now, the subject is still controlled by him.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject’s registered address is located at Flat J, 3/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that Soni has moved to this new address but does not make any amendments on the subject’s registration materials.  It seems that the subject’s operating address is also Soni’s residential address.  The residential building is not trespassed by outsiders.  Soni moved to this new address in January 2010.

The subject has no employees in Hong Kong.

Besides the subject, Soni is operating another firm known as Hong Kong Capital Co. which is also located at the same office.  Incorporated on 14th April, 1994, Hong Kong Capital Co. and the subject are diamond and gemstone traders.

The subject is a diamond and gemstone trader.  It is dealing in fine coloured diamonds and rare gemstones.  Products include fancy coloured diamonds, unusual rose cut and briolette cut diamonds and all kinds of loose diamonds.  Diamonds and gemstones are imported from India, Belgium and other European countries, etc.  Some of the commodities are polished diamonds.  Polished and cut diamonds are exported or re-exported to Japan, other Asian countries, Europe, the Middle East and North America.  Business is rather active.

The subject also trades in the following gem stones: amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, emerald, garnet, lapis‑lazuli, ruby, sapphire, rose quartz, etc.

The subject is just a one-man-company.  Keeping a balance account or making a very small profit in most of the past years.

On the whole, since the history of the subject in Hong Kong is over twenty‑one years and eight months, consider it good for normal business engagements.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.67

Euro

1

Rs.62.94

 

 

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.