MIRA INFORM REPORT

 

 

Report Date :           

14.06.2011

 

IDENTIFICATION DETAILS

 

Name :

PRECIOUS  JEWELS  LTD.

 

 

Registered Office :

c/o Hong Kong Professional Secretarial Services Ltd., Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

19.03.2010

 

 

Com. Reg. No.:

51976179

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery

 

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 :

Unknown

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

 

PRECIOUS  JEWELS  LTD.

 

 

Company ADDRESS

 

c/o Hong Kong Professional Secretarial Services Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

PHONE:            2830 9999

FAX:                 3012 1328

 

 

MANAGEMENT

 

Managing director:  Mr. Mehul Girishbhai Tanna

 

 

SUMMARY

 

Incorporated on:                         19th March, 2010.

 

Organization:                             Private Limited Company.

 

Capital:                                     Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:                    Jewellery Trader.

 

Employees:                               Nil.

 

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

 

Banking Relation:                       Fairly satisfactory.

Company ADDRESS

 

Registered Head Office:-

c/o Hong Kong Professional Secretarial Services Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

 

Affiliated Companies:-

JKM Enterprises, Hong Kong.

Ocean Diamonds, Hong Kong.

S & S International, Hong Kong.

 

Note:    All are located at:

Flat B1, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

51976179

 

 

COMPANY FILE NUMBER

 

1433402

 

 

MANAGEMENT

 

Managing director:  Mr. Mehul Girishbhai Tanna

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

 

SHAREHOLDER

(As per registry dated 19-03-2011)

Name

 

No. of shares

Mehul Girishbhai TANNA

 

10,000

=====

 

DIRECTOR    

(As per registry dated 19-03-2011)

 

Name

(Nationality)

 

Address

Mehul Girishbhai TANNA

Flat B1, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

SECRETARY

(As per registry dated 19-03-2011)

 

Name

Address

Co. No.

Wingate Professional Secretalial Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

1426081

 

 

HISTORY

 

The subject was incorporated on 19th March, 2010 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.

 

Employees:                   Nil.

 

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

 

Markets:                       India, Middle East, Europe, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

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

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

Profit or Loss:                Making a small profit

 

Condition:                      Business is normal.

           

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, Precious Jewels Ltd. is wholly owned by Mr. Mehul Girishbhai Tanna who is an Indian and has been in Hong Kong for a very long time.  Tanna is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong known as Hong Kong Professional Secretarial Services Ltd. which is handling its correspondences and documents.  Hong Kong Professional Secretarial Services Ltd. is an affiliated company of Wingate Professional Secretarial Ltd. [Wingate] which is also located at the above-mentioned address.  Wingate is also the corporate secretary of the subject.  The subject has no employees in Hong Kong.

The subject has had an associated company Ocean Diamonds located at a different address.  Ocean Diamonds and the subject are engaged in the same lines of business.  Both firms are operated by Tanna.

Ocean Diamonds’ registered address is located at Flat B1, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.  This office is not in a commercial building but a residential building.  It is likely that Mr. Tanna is residing in this address.

Ocean Diamonds has got two associated companies JKM Enterprises and S & S International located at the private building.  Both firms are sole proprietorship concerns also set up and owned by Tanna.  The former firm commenced business on 1st September, 1999 while the latter, commenced business on 17th June, 1997.

The subject is a diamond, jewellery and liquor trader.  However, its main business seems to be trading in diamond and jewellery.  Products are marketed in Hong Kong, exported to Japan, Taiwan, other Asian countries, the Middle East, North America, Western Europe, etc.  Business is fairly active.

Business handled by Tanna himself, the subject and its affiliates made very small profits or just kept a balance account in the past years.  The subject is just a one-man company.

The history of the subject is just a year and two months in Hong Kong.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

 

REMARKS:

 

Court Cases:           None per our records.

 

Property information of director:-

Property Location:                   Flat B on 7/F., Far East Mansion, 5-6 Middle Road, Kowloon, Hong Kong.

Owner:  Mehul Girishbhai Tanna & Anjaly Mehul Tanna

Date of Purchase:  21-09-2009

Purchased Price:  HK$7,250,000

Incumbrances:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

21-09-2009

-

Dah Sing Bank Ltd., Hong Kong.

Mortgage to secure general banking facilities

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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.