MIRA INFORM REPORT

 

 

Report Date :           

02.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KEEN  JADE  LTD.

 

 

Registered Office :

Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.06.1991

 

 

Com. Reg. No.:

14851724

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of gemstones, jewellery, 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 :

Good

 

 

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 – 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

 

 

Company name

 

KEEN  JADE  LTD.

 

 

Company address

 

Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

PHONE:            2363 9677,  2363 8869

FAX:                 764 5923

E-MAIL:            sunita@keenjade.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Sunita Nahata

 

 

SUMMARY

 

Incorporated on:             6th June, 1991.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$2,200,000.00

Issued:              HK$2,000,004.00

 

Business Category:        Gemstone Trader.

 

Employees:                   8.

 

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

 

Banking Relation:           Good.

Company name

 

KEEN  JADE  LTD.

 

 

Company address

 

Registered Head Office:-

·         Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

·         P.O. Box 96426, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

14851724

 

 

COMPANY FILE NUMBER

 

0313580

 

 

MANAGEMENT

 

Managing Director:                     Mr. Sunita Nahata

Director & Contact Person:         Mr. Mahendra Kumar Nahata

 

 

CAPITAL

 

Nominal Share Capital: HK$2,200,000.00 (Divided into 2,200,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2,000,004.00

 

 

SHAREHOLDERS

(As per registry dated 06-06-2010)

 

Name

 

No. of shares

Sunita NAHATA

 

2,000,001

Mahendra Kumar NAHATA

 

3

 

 

––––––––

 

Total:

2,000,004

=======

 

 

DIRECTORS

(As per registry dated 06-06-2010)

 

Name

(Nationality)

 

Address

Mahendra Kumar NAHATA

Flat D, 4/F., Everwell Garden, 1 Sheung Hong Street, Kowloon, Hong Kong.

 

Sunita NAHATA

Flat D, 4/F., Everwell Garden, 1 Sheung Hong Street, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 06-06-2010)

 

Name

Address

Co. No.

Tam & Wongs Nominee Ltd.

1/F., Hang Lung House, 188 Queen’s Road Central, Hong Kong.

0187810

 

 

HISTORY

 

The subject was incorporated on 6th June, 1991 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat C, 10/F., Hankow Apartments, 43‑49A Hankow Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in March 2007.

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

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of gemstones, jewellery, etc.

 

Employees:                   8.

 

Commodities Imported:   India, other Asian countries, Europe, etc.

 

Markets:                       Hong Kong, Japan, China, other Asian countries, Middle East, Europe, etc.

 

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

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$2,200,000.00 (Divided into 2,200,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$2,000,004.00

 

Mortgage or Charge:       (See attachment)

 

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.

 

Bankers:-

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

·         Bank of India, Hong Kong Branch.

·         China Construction Bank (Asia) Corporation Ltd., Hong Kong.

·         Citibank (Hong Kong) Ltd., Hong Kong.

 

Standing:  Normal.

GENERAL

 

Keen Jade Ltd. is almost wholly-owned by Mr. Sunita Nahata who is an Indian.  The very minor shareholder is Mr. Mahendra Kumar Nahata.  The Nahatas are also directors of the subject.  Being Hong Kong ID Card holders, they have got the right to reside in Hong Kong permanently.

The subject is gemstone trader.  It has been trading in coloured stones and jewellery.  The subject is engaged in cutting fine gemstones meeting high standards.  Its factory is in India having 3,500 skilled workers cutting millions of pieces of variety gemstones.  The subject is able to deliver its products to worldwide customers in shorter lead time with consistent quality.  Its products are marketed in Hong Kong and exported to Western Europe, Eastern Europe, Thailand, Japan, North America, the Middle East, etc.

The subject is carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, moon stone, iolite, tanzanite, alexandrite, etc.

The business of the subject in Hong Kong is rather active.  Contact person is Mahendra Kumar Nahata.

The subject operates from its own office in Hong Kong.  The premises have been mortgaged to a Hong Kong bank for securing banking facilities.

The history of the subject in Hong Kong is over nineteen years and ten months.

On the whole, consider it good for normal business engagements.

 

REMARKS:

 

Court Cases:      None per our.

 

Property information of the company:-

1.     Property Location:       Unit 2 on 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street, Kowloon, Hong Kong.

Owner:     Keen Jade Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

15-07-2005

-

Bank of America (Asia) Ltd., Hong Kong.  [Now known as China Construction Bank (Asia) Corporation Ltd.]

Mortgage to secure general banking facilities

 

2.     Property Location:       Flat C on 10/F., Hankow Apartments, 43-49A Hankow Road, Kowloon, Hong Kong.

Owner:     Keen Jade Ltd.

Date of Purchase:  n.a.

Purchased Price:  n.a.

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

20-08-2003

-

GE Capital (Hong Kong) Ltd., Hong Kong.

First legal charge to secure general banking facilities

 

 

MORTGAGE OR CHARGE

 

Date

Particulars

Amount

10-04-2000

Instrument:      Letter of Set-off

Property:

Cash deposit No. 01H22/031842 & 01H33/031842-00 amounting to HK$1,050,000.95

Mortgagee:      Bank of India, Hong Kong Branch.

Advances and other banking facilities

20-08-2003

Instrument:      First Legal Charge

Property:

1/114th part or share of and in Kowloon Inland Lot No. 7306 (Flat C on 10/F. of Hankow Apartments, 43-49A Hankow Road, Kowloon, Hong Kong.)

Mortgagee:      GE Capital (Hong Kong) Ltd., Hong Kong.

To secure all monies in respect of general credit facilities

15-07-2005

Instrument:      Mortgage

Property:

18/3,442nd parts or shares of and in Section A of Kowloon Marine Inland Lot No. 113 (Unit 2 on 12/F. of Fu Hang Industrial Building, 1 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.)

Mortgagee:      Bank of America (Asia) Ltd., Hong Kong.  [Now known as China Construction Bank (Asia) Corporation Ltd.]

To secure all moneys in respect of general banking facilities

15-07-2005

Instrument:      Assignment of Rentals

Property:

18/3,442nd parts or shares of and in Section A of Kowloon Marine Inland Lot No. 113 (Unit 2 on 12/F. of Fu Hang Industrial Building, 1 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.)

Mortgagee:      Bank of America (Asia) Ltd., Hong Kong.  [Now known as China Construction Bank (Asia) Corporation Ltd.]

To secure all moneys in respect of general banking facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.89

UK Pound

1

Rs.73.85

Euro

1

Rs.64.76

 

 

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.