MIRA INFORM
REPORT
|
Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROSEY
GEMS |
|
|
|
|
Registered Office : |
Flat C, 10/F., Hillwood Mansion, 45-47 Hillwood Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
02.03.2004 |
|
|
|
|
Com. Reg. No.: |
34320830-000-03 |
|
|
|
|
Legal Form : |
Partnership |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, 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
ROSEY GEMS
Company ADDRESS
Flat C, 10/F., Hillwood Mansion, 45-47 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 6303 9459
FAX: 2369 8444
MANAGEMENT
Manager: Mr. Jigar Parikh
SUMMARY
Establishment: 2nd March, 2004.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Flat C, 10/F., Hillwood Mansion, 45-47 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong.
P.O. Box 92271, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Affiliated
Company:-
Ayu Diam (H.K.) Co. Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
34320830-000-03
MANAGEMENT
Manager: Mr. Jigar Parikh
PARTNERS
Name: Mr. Jigar PARIKH
Residential Address: Flat
G, 5/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Samir Indulal SHAH
Residential Address: 2/4
Navjivan Society, Lamington Road, Bombay, India.
Name: Mr. Priyesh Arun SHAH
Residential
Address: 162 J S S Road, 1/7 Mohun
Building, next to Maiestic Shopping Centre, Girgaum, Mumbai 400004, India.
HISTORY
The subject was established on 2nd March, 2004 as a partnership concern jointly owned by Mr. Atul Bharat Kumar Jhaveri and Mr. Jigar Parikh under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Atul Bharat Kumar JHAVERI |
02-03-2004 |
24-05-2005 |
|
Jigar PARIKH |
02-03-2004 |
- |
|
Samir Indulal SHAH |
20-09-2004 |
- |
|
Priyesh Arun SHAH |
24-05-2005 |
- |
|
Jimeet Girishbhai SHAH |
19-12-2006 |
10-07-2007 |
At the very beginning, the subject was located at Flat G, 5/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat D, 14/F. of the same building in July 2004, and further to the present address in June 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, etc.
Employees: Nil.
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Japan, Southeast Asia, Europe, Middle East, etc.
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: Business has been improving.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Rosey Gems is a partnership jointly owned by Mr. Jigar Parikh, Mr. Samir Indulal Shah and Mr. Priyesh Arun Shah. All the partners are Indian.
The subject’s registered address and operating office is located at a residential building, Hillwood Mansion, which is not trespassed by outsiders. It is likely that the partners of the subject reside in this address when they are in Hong Kong.
The subject is dealing in fine coloured diamonds and rare gemstones. Products include fancy coloured diamonds, unusual rose cut and briolette cut diamonds. Rough or polished, cut diamonds, loose diamonds and gems are imported from India, Belgium and other European countries, etc. After processing in Hong Kong, finished products and polished diamonds are marketed in Hong Kong, exported or re-exported to Japan and other Asian countries. Business is improving. Made a very small profit in the past three years.
The subject has got an affiliated company Ayu Diam (H.K.) Ltd. [Ayu Diam] which is located at the subject’s operating address. Ayu Diam is also a diamond trader.
Having issued 7.8 million ordinary shares of HK$1.00 each, Ayu Diam is chiefly owned by Mr. Jenish Hasmukhkumar Shah while the minor shareholder is Mr. Nilesh Vinoobhai Shah. It is likely that Samir Indulal Shah, Priyesh Arun Shah and the shareholders of Ayu Diam belong to the same family.
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 Show the subject taken part was the Hong Kong International Jewellery Show which was held in February 2011 in Hong Kong.
The subject’s business is chiefly handled by the subject’s partners.
As the history of the subject in Hong Kong is over seven years and three months, on the whole, consider it good for business engagements in small credit amounts.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
UK Pound |
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.60 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.