MIRA INFORM
REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BASILICA
JEWELRY LTD. |
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Registered Office : |
Room 505, 5/F., Beverley Commercial Centre, 89-105 Chatham
Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.12. 2007 |
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Com. Reg. No.: |
38766068 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds diamonds and jewellery products. |
RATING & COMMENTS
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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 |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Hong Kong |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
BASILICA JEWELRY LTD.
Company ADDRESS
Room 505, 5/F., Beverley Commercial Centre, 89-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
E-MAIL: vijenjhaveri@yahoo.com
MANAGEMENT
Managing Director: Mr. Vijen Girishchandra Jhaveri
SUMMARY
Incorporated on: 19th December, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$2,000,000.00
Business Category: Diamond Trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Room 505, 5/F., Beverley Commercial Centre, 89-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Companies:-
P.K. Impex, Hong Kong.
Pal Gems, India.
BUSINESS REGISTRATION NUMBER
38766068
COMPANY FILE NUMBER
1196645
MANAGEMENT
Managing Director: Mr. Vijen Girishchandra Jhaveri
CAPITAL
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
SHAREHOLDER
(As per registry
dated 19-12-2010)
|
Name |
|
No. of shares |
|
Vijen Girishchandra JHAVERI |
|
2,000,000 ======= |
DIRECTOR
(As per registry dated 19-12-2010)
|
Name (Nationality) |
Address |
|
Vijen Girishchandra JHAVERI |
2/F., 3 Swatow Street, Wanchai, Hong Kong. |
SECRETARY
(As per registry dated 19-12-2010)
|
Name |
Address |
Co.
No. |
|
Hmgc Corporate Practice Ltd. |
Room 460B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. |
1127329 |
HISTORY
The subject was incorporated on 19th December, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Easy Way Trading (HK) Ltd., name changed to the present style on 29th August, 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds diamonds and jewellery products.
Employees: 2.
Commodities Imported: India, other Asain countries, Europe, etc.
Markets: Hong Kong, India, Japan, Southeast Asia, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Alternation
of Capital:-
|
Initially |
paid up |
HK$ 1,000,000.00 |
|
07-12-2010 |
paid up |
HK$ 1,000,000.00 |
|
|
|
––––––––––––––– |
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Total: |
paid up |
HK$ 2,000,000.00 ============== |
Increases
of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$2,000,000.00 |
on |
07-12-2010 |
|
From |
HK$2,000,000.00 |
to |
HK$3,000,000.00 |
on |
03-01-2011 |
Profit or Loss: Making a small profit in 2010.
Condition: Business has been improving.
Facilities: Making rather 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
Having issued 2 million ordinary shares of HK$1.00 each, Basilica Jewelry Ltd. is wholly owned by Mr. Vijen Girishchandra Jhaveri. Jhaveri is the only director of the subject. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
Formerly, the subject issued just 1 million ordinary shares of HK$1.00 each and was equally owned by Mr. Vijen Girishchandra Jhaveri and Mr. Kailash Agarwal. On 27th September, 2010, Agarwal transferred all his shares to Jhaveri.
In December 2010, the subject increased its issued share capital to 2 million. The newly issued shares were all allotted to Jhaveri.
The subject’s operating office is located at Room 505, 5/F., Beverley Commercial Centre, 89-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
The subject is a diamond trader. It has got an affiliated company in India known as Pal Gems. The subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds. The subject imports loose, polished and cut diamonds from India. Pal Gems seems to be its main supplier. It is likely that Agarwal, the old shareholder of the subject, in India is administrating the business of Pal Gems. The subject markets its products in Hong Kong, exports to India, Japan, Southeast Asia, etc. Business has been improving. It made a small profit in 2010.
Besides Pal Gems, the subject has had another associate P.K. Impex in Hong Kong. P.K. Impex is also a diamond trader located at Flat E, 6/F., Cameron Plaza, 23-25 Cameron Road, Tsimshatsui, Kowloon, Hong Kong where is Jhaveri’s registered address in Hong Kong. It is likely that Jhaveri is also the owner of P.K. Impex.
The subject’s business is chiefly handled by Jhaveri himself.
As the history of the subject is just over three years and four months in Hong Kong, on the whole, consider it good for normal business engagements in small credit amounts.
COURT CASES: None per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.34 |
|
|
1 |
Rs.73.70 |
|
Euro |
1 |
Rs.65.75 |
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 |
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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 |
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NB |
New Business |
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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.