MIRA INFORM REPORT

 

 

Report Date :

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KOWLOON  TRADING  CO.

 

 

Registered Office :

Flat F, 14/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.05.1987

 

 

Com. Reg. No.:

10973982-000-05

 

 

Legal Form :

Partnership.

 

 

Line of Business :

Importer and Exporter of Diamond, gemstone and jade, sapphire, rube, emerald, coloured gemstone, 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

 

Company name and address

           

KOWLOON  TRADING  CO.

 

 

ADDRESS:       Flat F, 14/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2722 5540,  2721 7443

 

FAX:                 2311 4456

 

E-MAIL:            ktco@netvigator.com

 

 

MANAGEMENT

 

Manager:  Mr. Agrawal Anil

 

 

SUMMARY

 

Establishment:             1st May, 1987.

 

Organization:                 Partnership.

 

Capital:                          Not disclosed.

 

Business Category:        Diamond and Jewellery Trader.

 

Employees:                   5.

 

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

 

Banking Relation:           Satisfactory.

 

ADDRESS

 

Head Office:-

Flat F, 14/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-

GRK Gems Inc., USA.

Gupta Jewel Corporation, India.

 

 

BUSINESS REGISTRATION NUMBER 

 

10973982-000-05

 

 

MANAGEMENT

 

Manager:  Mr. Agrawal Anil

 

 

PARTNERS

 

Name:  Mr. Agrawal ANIL

Residential Address:      Flat 3, 10/F., Block C, Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

Name:  Mr. Kumar Gupta ASHOK

Residential Address:      31/3 Soi 13 Silom Road, Bangkok, Thailand.

 

 

HISTORY

 

The subject was established on 1st May, 1987 as a partnership concern jointly owned by Mr. Agrawal Anil and Mr. Kumar Gupta Suresh under the Hong Kong Business Registration Regulations.  On 1st January, 2001, Mr. Kumar Gupta Suresh retired and a new partner Mr. Kumar Gupta Ashok joined in.  The subject remains to be a partnership.

Initially the subject was located at Flat 3, 10/F., Block C, Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address of Mr. Anil Agrawal, moved to Flat 4, 10/F., Block C of the same building in January 1992; to 10/F., Rear Portion, Ocean View Court, 41 Mody Road, Tsimshatsui, Kowloon, Hong Kong in December 1995; to Flat D, 16/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong in March 2001; and further moved to Flat F, 14/F. of the same building in July 2005.

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

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           Diamond, gemstone and jade, sapphire, rube, emerald, coloured gemstone, etc.

 

Employees:                   5.

 

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

 

Markets:                       Japan, South Korea, Taiwan, Thailand, other Asian countries, etc.

 

Terms/Sales:                 As per contracted.

 

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

 

 

MEMBERSHIP

 

Hong Kong Jewellery & Jade Manufacturers Association, Hong Kong.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a normal condition.

 

Facilities:                      Making 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:                       Normal.

 

 

GENERAL

 

Kowloon Trading Co. is a partnership jointly owned by Mr. Agrawal Anil and Mr. Kumar Gupta Ashok.  Both of the partners are Indian while the latter is residing in Bangkok, Thailand.  Anil is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is trading in diamond, gemstone and jade, sapphire, ruby, emerald, coloured gemstone, etc.  Raw materials are imported from India, Thailand, Europe, etc.  After processing in Hong Kong or China, finished, cut or polished products are marketed in Hong Kong, exported to Japan, South Korea, Taiwan, Thailand, Malaysia, China, other Asian countries, Spain, the United States, etc.

According to the subject, it has got affiliated companies in Malaysia, Spain, Taiwan, Thailand and the United States.  The main one in Thailand is administered by Mr. Kumar Gupta Ashok.

In Hong Kong, the subject set up a retailing outlet in Hong Kong on 1st May, 2007.  However, this firm ceased business on 1st July, 2008.  However, the subject has had associated retail outlets in the United States, Thailand, Taiwan and India.

The subject’s business is chiefly handled by Anil who has been in Hong Kong for a very long time.

The subject in fact is an affiliated company of GRK Gems Inc. [GRK] which is a US-based firm.  Its corporate office is in New York, the United States.

Established in 1977, GRK is a manufacturer and wholesale supplier of diamonds, precious and semi-precious gemstones.  Its customers are all over the world.  Besides the subject, GRK has got associated firms in Bangkok, Bombay and Jaipur of India.

To our knowledge, the subject is also an associated company of Gupta Jewel Corporation [Gupta].  Gupta was founded in 1970.  It is a leading manufacturer, importer and exporter of a wide range of precious stones and semi-precious stones comprising of amethyst, citrine, lemon topaz, emerald, sapphire, garnet, diamond, aquamarine, etc.  Gupta also deals in gold and silver jewellery.  Today, Gupta is also a regular member of International Colored Association [ICA].

Gupta is engaged in manufacturing, importing and exporting of the following products:-

Diamonds

·         Loose Diamonds

·         Princess Cut Diamonds

·         Green Diamonds

·         Fancy Diamonds

 

Gemstones

·         Emerald Gemstones

·         Ruby Gemstones

·         Pink Sapphire Gemstones

·         Tanzanite Gemstones

·         Aquamarine Gemstones

·         Amethyst

·         Tourmaline Gemstones

·         Amethyst Gemstones

·         Citrine Gemstones

·         Blue Topaz Gemstones

·         Lemon Topaz Gemstones

·         Rodolite

·         Garnet Gemstones

 

Jewellery

·         Gold Jewellery

·         Silver Jewellery

The subject also trades in Gupta’s products such as those mentioned above.

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 going to take part in “Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2012.

The history of the subject in Hong Kong is over twenty-four years and a months.  Regular suppliers and customers have been maintained.  Business has been active.

On the whole, in view of the subject’s history and background, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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.