MIRA INFORM
REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
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Name : |
S.
B. GEMS LTD. |
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Registered Office : |
Room 306, 3/F., Block A102, Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.07.2009 |
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Com. Reg. No.: |
50936956 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, 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
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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 |
Bottom of Form
Company name
S. B. GEMS
LTD.
Company ADDRESS
Room 306, 3/F., Block A102, Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2142 0069
FAX: 2142 0100
MANAGEMENT
Managing Director: Mr. Sanjay Padamshibhai Vithani
SUMMARY
Incorporated on: 28th July, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 306, 3/F., Block A102, Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Associated/Affiliated
Companies:-
S. B. Gems Ltd., India.
Sanjay Brothers, India.
BUSINESS REGISTRATION NUMBER
50936956
COMPANY FILE NUMBER
1355366
MANAGEMENT
Managing Director: Mr. Sanjay Padamshibhai Vithani
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDER
(As per registry
dated 01-11-2010)
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Name |
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No. of shares |
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Sanjay Padamshibhai VITHANI |
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10,000 ===== |
DIRECTOR
(As per registry
dated 28-07-2010)
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Name (Nationality) |
Address |
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Sanjay Padamshibhai VITHANI |
Room 1901, 19/F., Dhavalgiri Building, Papnas Wadi, Nana Chowk, Mumbai-400036, India. |
SECRETARY
(As per registry
dated 28-07-2010)
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Name |
Address |
Co.
No. |
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Dhun’s Management Services Ltd. |
7/F., Man On Commercial Building, 12‑13 Jubilee Street, Central, Hong Kong. |
0027006 |
HISTORY
The subject was incorporated on 28th July, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
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, etc.
Employees: 3.
Commodities Imported: India, Europe, Other Asian countries, etc.
Markets: Hong Kong, India, China, United States, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Alternation of Capital:-
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28-07-1009 |
paid up |
HK$ 1.00q |
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01-11-2010 |
paid up |
HK$ 9,999.00 |
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––––––––––––– |
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Total: |
paid up |
HK$ 10,000.00 ============ |
Profit or Loss: Kept a balance account in 2010.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, S. B. Gems Ltd. is wholly owned by Mr. Sanjay Padamshibhai Vithani who is an Indian. Formerly the subject had just issued 1 ordinary share of HK$1.00, increased to 10,000 shares of the same value each on 1st November, 2010.
Vithani is also the only director of the subject. He is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject is a jewellery and diamond trader. It is engaged in manufacturing single cut and full cut diamonds. It has got an associated company in Mumbai, India which is also operated by Vithani.
To our knowledge, the subject’s associate in India is also known as S. B. Gems Ltd. which has been put into operation since 1965. The subject has another affiliate in India is known as Sanjay Brothers which is also a diamond trader.
The subject’s main products are polished while diamonds. Most of its products are provided by its affiliated company in India. It also imports rough diamonds and other raw materials from Europe and other Asian countries. The major markets of the subject are Hong Kong, India, China, United States, Australia, the Middle East, etc. Business is still under development.
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 took part in Hong Kong Watch & Clock Fair which had been held during the period of 6th to 10th September, 2010; took part in Hong Kong Jewellery & Gem Fair which had been held during the period of 14th to 18th September, 2010. It also took part in Hong Kong International Jewellery Show 2011 which had been held during the period of 4th to 8th March, 2011
On the whole, since the history of the subject in Hong Kong is just over a year and ten months, consider it good for normal business engagements on secured basis for the time being.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.61 |
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UK Pound |
1 |
Rs.73.28 |
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Euro |
1 |
Rs.65.47 |
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.