MIRA
INFORM REPORT
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Report Date : |
02.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ROSY BLUE HONG KONG LTD. |
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Registered Office : |
Room 403-404, 4/F., Harbour Centre, Tower 2, |
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Country : |
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Date of Incorporation : |
15.07.1986 |
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Com. Reg. No.: |
10439855 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter, Wholesaler and Distributor of all kinds of diamond and jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
ROSY BLUE
HONG KONG LTD.
company ADDRESS
Room 403-404, 4/F., Harbour Centre, Tower 2,
PHONE: 2523 9475
FAX: 2845 0940, 2523 9030,
2523 9538
E-MAIL: info@rosyblue.com
MANAGEMENT
Managing Director: Mr. Maiank
Mehta
SUMMARY
Incorporated on: 15th
July, 1986.
Organization: Private
Limited Company.
Capital: Nominal:HK$10,000.00
& US$3,700,000.00
Issued: HK$3.00 &
US$3,700,000.00
Business Category: Diamond and Jewellery Trader.
Employees:
20.
Main Dealing Banker: The Royal Bank of
Banking Relation: Satisfactory.
company ADDRESS
Registered
Office:-
31/F., The Center, 99 Queen’s Road Central,
Head Office:-
Room 403-404, 4/F., Harbour Centre, Tower 2,
Holding Company:-
Prime Investments S.A.,
Ultimate Holding
Company:-
Rosy Blue Investments
Affiliated
Companies:-
Rosy Blue Group of Companies
R.B. Solitaires Inc.,
Rosy Blue (
Rosy Blue (
Rosy Blue (
Rosy Blue Diamond Co. Ltd.,
Rosy Blue Diamond Sales Ltd.,
Rosy Blue Fine Inc.,
Rosy Blue Inc.,
Rosy Blue International S.A.,
Rosy Blue Jewellery (HK) Ltd., Hong Kong.
Rosy Blue Ltd.,
Rosy Blue N.V.,
Rosy Blue Overseas Holdings Ltd.,
Rosy Blue Trading (Pty) Ltd.,
Rosy Blue Trading Inc.,
Rosy Blue Trading LLC, UAE.
etc.
BUSINESS REGISTRATION NUMBER
10439855
COMPANY FILE NUMBER
0171832
MANAGEMENT
Executive Director & Group Chief Executive Officer: Mr. Dilip Ramniklal Mehta
Managing Director: Mr. Maiank
Mehta
CAPITAL
Nominal Share Capital: HK$10,000.00 & US$3,700,000.00
(Divided into 10,000 Ordinary shares of HK$1.00 each and
3,700,000 Redeemable Preference shares of US$1.00 each)
Issued Share Capital: HK$3.00 & US$3,700,000.00
SHAREHOLDERS
(As per registry
dated 15-07-2010)
|
Name |
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No. of shares |
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Redeemable Preference |
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Maiank MEHTA |
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1 |
- |
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Prime Investments S.A. 63, Boulevard Prince Felix, L-1513 |
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2 |
3,700,000 |
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–– |
–––––––– |
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Total: |
3 = |
3,700,000 ======= |
DIRECTORS
As per registry
dated 15-07-2010)
|
Name (Nationality) |
Address |
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Maiank MEHTA |
Flat A, 7/F., Block 1, |
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Dilip Ramniklal MEHTA |
1200 Shanu Deep, |
SECRETARY
(As per registry
dated 15-07-2010)
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Name |
Address |
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EQ Secretaries Ltd. |
31/F., The Center, 99 Queen’s Road Central, |
0099444 |
HISTORY
The subject was incorporated on 15th July, 1986 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Jade Made Enterprises
Ltd., name changed to R.B. Diamond Sales Ltd. on 7th October, 1986; and further
to the present style on 17th January, 1997.
Formerly the subject’s registered office was located at 18/F., Lincoln
House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong, moved to the
present address in August 2005.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter, Wholesaler and Distributor.
Lines: All
kinds of diamond and jewellery.
Employees: 20.
Commodities Imported: Imported from
Markets:
Terms/Sales:
On various terms.
Terms/Buying: L/C.
MEMBERSHIP
·
·
The Hong Kong General Chamber of Commerce,
[Membership No. HKR0306]
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 &
US$3,700,000.00
(Divided into 10,000 Ordinary shares of
HK$1.00 each and 3,700,000 Redeemable Preference shares of US$1.00 each)
Issued Share Capital: HK$3.00 &
US$3,700,000.00
Indebtedness: HK$12,899,416.12 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 15-07-2010)
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year.
Condition: Keeping
in an active condition.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade commitments as
required.
Commercial Morality: Satisfactory.
Bankers:-
The Royal Bank of
Antwerpse
Standing:
GENERAL
Incorporated in 1986, Rosy
Blue Hong Kong Ltd. is one third owned by Mr. Maiank Mehta and two thirds
held by Prime Investments S.A., a Luxembourg-registered firm. The subject in fact is a member of the Rosy
Blue Group with headquarters in
The subject is trading in
fine diamonds and jewellery. It is able
to provide customers with a wide range of polished diamonds with different
sizes, colour cuttings and quantities.
Moreover, it provides finished jewellery products to the worldwide. Main products of the subject are diamond
pendants, white gold diamond pendants, 18K gold rings, white gold rings, white
gold pendants, gold ring, loose diamonds, carat size diamonds, diamond
necklaces and earrings, etc.
Originally, Rosy Blue was
established in 1960 in
As a sightholder and client
of the Diamond Trading Company, BHP, Rio Tinto Diamonds and Alrosa, Rosy Blue
is a key infrastructure provider to both small and large businesses.
Rosy Blue is one of the
renowned diamond and jewellery companies in the world. Founded in 1960, Rosy Blue has grown from a
single workshop specialized in polishing small diamonds to a global
corporation. In 1973, Rosy Blue opened
its new international headquarters in
As a family-owned
corporation with over 40 years of experience, the skill and knowledge of Rosy
Blue have passed from generation to generation, each driven by a passion for
innovation and quality.
Rosy Blue has its
headquarters in
Rosy Blue is now a global
leader in the design, manufacture and distribution of fine diamonds and
jewellery – a dynamic corporation built on expertise and integrity. From an exceptional supply of rough diamonds,
through state‑of-the-art diamond manufacturing, Rosy Blue provides a
comprehensive selection of polished diamonds and a complementary range of
finished jewellery. In accordance with
its highest ethical standards, Rosy Blue takes great care to verify the
provenance of its rough diamonds. Its
internal distribution systems are designed to track the diamonds through the
manufacturing and finishing processes.
The rough diamonds range from the smallest to the largest, in all forms
and colours of sawables, makeables, cleavages, industrials and crystals. Rosy Blue procures diamonds from miners in
Rose Blue’s clients range
from the world’s most prestigious brands to small, specialty jewellery
houses. It also supplies the leading
diamond manufacturers, distributors and retailers in every part of the world
with a comprehensive range of diamonds, from the smallest polished stones, to
single diamonds of the very highest quality.
The Rosy Blue Group has a
significant involvement in jewellery manufacturing and distribution through
various operations around the world, including Intergold, the Group’s jewellery
manufacturing facility and the largest Indian exporter of diamond
jewellery. Major customers are diamond
brokers, diamond wholesalers and jewellery manufacturers.
The subject’s total amount
outstanding registered with the Companies Registry as at mid-July 2010 amounted
to US$12.9 million.
The subject is fully
supported by the Rosy Blue Group and ultimately by the Mehta family in
In order to penetrate the international
market further, the subject has taken part in fairs and exhibitions held in
As the history of the
subject in
REMARKS
Court case:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Sept. 1995 |
H9184 |
R.B. Diamond Sales Ltd. [Now known as Rosy Blue Hong Kong Ltd.] |
La Venti Co. Ltd. |
Amount due |
HK$294,485 |
|
Dec. 1998 |
H21734 |
Rosy Blue Hong Kong Ltd. |
Asian Gem Distributors ( |
Amount due |
HK$252,829 |
|
Nov. 2003 |
H1243 |
Rosy Blue Hong Kong Ltd. |
Anson Fine Jewellery Ltd. |
Companies Winding Up Proceedings |
Not stated |
Property information of
the company:-
1. Property Location: Workshop Unit 2 on 4/F., Harbour
Centre, Tower 2,
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
28-09-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland
N.V.] |
Mortgage to secure general banking facilities |
2. Property Location: Workshop Unit 3 on 4/F., Harbour
Centre, Tower 2,
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
28-09-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland
N.V.] |
Mortgage to secure general banking facilities |
3. Property Location: Workshop Unit 4 on 4/F., Harbour
Centre, Tower 2,
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
30-11-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland
N.V.] |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
24-01-2002 |
Instrument: Debenture Property: 1) All freehold and
leasehold property of the Company 2) All stocks shares bonds
and securities of any kind whether marketable or otherwise and all other
interests including loan capital of the Company 3) All book and other
debts revenues and claims 4) The uncalled capital
goodwill and all patents patent applications trade marks trade names
registered designs and copyrights and all licences and ancillary and
connected rights relating to the intangible property 5) The undertaking and
all other assets of the Company Mortgagee: Antwerpse |
The general credit facilities of sum of HK$78,000,000 |
|
16-07-2003 |
Instrument: Debenture Property: All the Company’s undertaking and property and assets whatsoever and wheresoever
both present and future including all book and other debts revenues and
claims Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
General banking facilities |
|
27-04-2006 |
Instrument: Supplemental Debenture Property: The subject matter of the charge contained in the Debenture dated
16-07-2003, namely all the Company’s undertaking and property and assets
whatsoever and wheresoever both present and future including all book and
other debts revenues and claims Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
General banking facilities |
|
28-09-2007 |
Instrument: Mortgage Property: 56/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine
Lot No. 113 (Workshop Unit 2 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung
Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
All moneys, obligations and liabilities |
|
28-09-2007 |
Instrument: Rental Assignment Property: 56/5,767th parts or shares of and in The Remaining Portion of Kowloon
Marine Lot No. 113 (Workshop Unit 2 on 4/F. of Harbour Centre, Tower 2, 8 Hok
Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
All moneys, obligations and liabilities |
|
28-09-2007 |
Instrument: Mortgage Property: 54/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine
Lot No. 113 (Workshop Unit 3 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung
Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
All moneys, obligations and liabilities |
|
30-11-2007 |
Instrument: Mortgage Property: 66/5,767th parts or shares of and in The Remaining Portion of Kowloon
Marine Lot No. 113 (Workshop Unit 4 on 4/F. of Harbour Centre, Tower 2, 8 Hok
Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
All moneys, obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
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 |
|
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 |
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.