MIRA INFORM REPORT

 

 

Report Date :           

08.06.2011

 

IDENTIFICATION DETAILS

 

Name :

H.K.  GEMS  &  DIAMONDS

 

 

Registered Office :

Flat H, 5/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

25.02.1997

 

 

Com. Reg. No.:

20678528-000-02

 

 

Legal Form :

Partnership Concern

 

 

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

 

H.K.  GEMS  &  DIAMONDS

 

 

Company ADDRESS

 

Flat H, 5/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2367 6747,  2366 4226

FAX:                 2367 2798

E-MAIL:                        hkgd@hotmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Ajay Gandhi

 

 

SUMMARY

 

Establishment:                          25th February, 1997.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Annual Turnover:            HK$35~40 million  (Including affiliate)

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

 

Company ADDRESS

 

Head Office:-

Flat H, 5/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

A. World Trade Gems, Hong Kong.
[Formerly known as Allied Gems & Jewellery]  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

20678528-000-02

 

 

MANAGEMENT

 

Manager:  Mr. Ajay Gandhi

 

 

PARTNERS

 

Name:                           Ajay GANDHI

Residential Address:      Flat B, 12/F., Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:                           Anshu RANKA

Residential Address:      35 Waitee Lane, Silom Road, Bangrak, Bangkok, Thailand.

 

 

HISTORY

 

The subject was established on 25th February, 1997 as a partnership concern jointly owned by Mr. Ajay Gandhi and Mr. Surender Kumar Saini under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Ajay GANDHI

25-02-1997

-

Surender Kumar SAINI

25-02-1997

31-03-2002

Saket DAGA

01-04-2002

31-08-2002

Rishab CHANDALIYA

01-09-2002

30-11-2008

Anshu RANKA

01-12-2008

-

 

Initially the subject was located at Flat B, 12/F., Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 8/F., Hang Wan Building, 42-44 Granville Road, Tsimshatsui, Kowloon, Hong Kong in July 1997; to Flat D, 6/F., Lising Court, 34-36 Granville Road, Tsimshatsui, Kowloon, Hong Kong in May 1998; to Room 1609, 16/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in January 2001; to Flat D, 11/F., Comfort Building, 86-88 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in December 2001; to Room 1204-1206, 12/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in September 2006; and further moved to the present address in April 2009.

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, Thailand, Belgium, other European countries, USA, etc.

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, USA, etc.

 

Annual Turnover:            HK$35~40 million  (Including affiliate)

 

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 in the past years.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

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

·         Hang Seng Bank Ltd., Hong Kong.

 

Standing:  Small.

 

 

GENERAL

 

H.K. Gems & Diamonds is a partnership jointly owned by Mr. Ajay Gandhi and Mr. Anshu Ranka.  Both of whom are Indian while the former has been in Hong Kong for a very long time.

The subject moved to the present address in April 2009 where is in a residential building.  The residential building is not trespassed by outsiders.  It is likely that the partners of the subject are residing in the subject’s registered address.  They have moved to the this new address without making any amendments in the registration materials of the subject.

The subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds, loose sapphire stone, loose ruby stone, emerald, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite, Burma Ruby, etc.  Commodities are imported from India, Thailand, Belgium, other European countries, etc.  Finished products and polished diamonds are exported or re-exported to Japan, other Asian countries, the United States, Germany, the United Kingdom, Canada, etc.  Business is rather active.

The subject’s business is chiefly handled by Mr. Ajay Gandhi.

The subject has got an affiliated company A. World Trade Gems located at its operating address.  A. World Trade Gems was formerly known as Allied Gems & Jewellery, name changed to the present style in April 2009.  This firm is also a diamond trader.

The annual sales turnover of the subject and its affiliate ranges from HK$35 to 40 million.  Making a small profit every year.

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.  The latest exhibition taken part by the subject was Hong Kong International Jewellery Show 2011 which had been held during the period of 4th to 8th March, 2011.

Since the history of the subject in Hong Kong is over fourteen years and three months, on the whole, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.74

UK Pound

1

Rs.73.25

Euro

1

Rs.65.48

 

 

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.