MIRA INFORM
REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
A.K.
GEMS |
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Registered Office : |
4/F.,
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Country : |
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Date of Incorporation : |
06.05.2009 |
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Com. Reg. No.: |
50638122-000-05 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, precious stones, 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 : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
company name
A.K. GEMS
company ADDRESS
4/F.,
PHONE: Not available
FAX: Not available
MANAGEMENT
Manager: Mr. Chetan Ramanlal Shah (Mobile: 9077 2514)
SUMMARY
Establishment: 6th May, 2009.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
4/F.,
BUSINESS REGISTRATION NUMBER
50638122-000-05
MANAGEMENT
Manager: Mr. Chetan Ramanlal Shah
PARTNERS
Name: Mr. Chetan Ramanlal SHAH
Residential Address: Flat
A, 5/F.,
Kong.
Name: Mr. Kanubhai Valchand PAREKH
Residential Address: 702
Megh-Mayur Apartment 2,
395007,
HISTORY
The subject was established on 6th May, 2009 as a sole proprietorship concern owned by Mr. Chetan Ramanlal Shah under the Hong Kong Business Registration Regulations. It became a partnership as Mr. Kanubhai Valchand Parekh joined in as a partner on 1st April, 2010.
Initially the subject was located at Flat A, 5/F., Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to 4/F., Ocean View Court, 37 Mody Road, Tsimshatsui, Kowloon, Hong Kong in August 2009; to Room 1206, 12/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong in July 2010; and moved back to 4/F., Ocean View Court, 37 Mody Road, Tsimshatsui, Kowloon, Hong Kong in January 2011.
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, precious stones, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Suffered from a small loss in 2009 and 2010.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing: Small.
GENERAL
A.K.
Gems was a sole proprietorship set up and owned by Mr. Chetan Ramanlal Shah who
is an Indian. He is a Hong Kong ID Card
holder and has got the right to reside in
The
subject’s registered address is located at 4/F.,
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
Business
commenced on 6th May, 2009, the subject is a diamond trader. It is carrying loose diamonds, polished and
cut diamonds. Most of the commodities
are imported from
The subject’s business is chiefly handled by Shah who can be reached at his mobile phone number 9077 2514. Business is still under development.
On the whole, since the history of the subject 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.45.09 |
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1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
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 |
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.