MIRA INFORM
REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
PRISMDIA
LTD. |
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Registered Office : |
Room 1214, 12/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.12.2003 |
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Com. Reg. No.: |
34136445 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, gold and silver products, precious stones, luxury watches, 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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Hong Kong |
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
PRISMDIA LTD.
Company ADDRESS
Room 1214, 12/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 3523 0390, 3523 0391
FAX: 2314 8519
E-MAIL: hkg@prismgroup.in
hrd@prismgroup.in
prismdiahk@gmail.com
MANAGEMENT
Managing Director: Mr. Sureshkumar Ravjibhai Ghevriya
SUMMARY
Incorporated on: 5th December, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$6,000,000.00
Issued: HK$6,000,000.00
Business Category: Diamond Trader.
Annual Turnover: US$25~30 million.
Employees: 7.
Main Dealing Banker: Bank of India, Hong Kong Branch.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Room 1214, 12/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
Associated Companies:-
Prism Group of
Companies
Anand Enternational, India.
Colo Jewellery Company, Hong Kong. (Same address)
Prism (USA) Inc, USA.
Prism Diamond Co. Ltd., Thailand.
Prism International, India.
Prism Jewellery Company, Hong Kong. (Same address)
etc.
Affiliated Companies:-
Diasqua Group of
Companies
Billion City (H.K.) Ltd., Hong Kong. [Trading as Diafuego]
Diafuego, Belgium.
Diaglobe BVBA, Belgium.
Diaglobe Inc., USA.
Diamond Dealers HK Ltd., Hong Kong.
Diasqua (Pacific) Pty. Ltd., Australia.
Diasqua (Thailand) Co. Ltd., Thailand.
Diasqua Impex Pte. Ltd., Singapore.
Diasqua Inc., USA.
Diasqua India Pvt. Ltd., India.
Diasqua International
Ltd., Hong Kong.
[Trading as Diasqua (HK), Diaglobe (HK) and Diajewel (HK)]
Diasqua International Ltd., Taiwana Branch.
Diasqua Middle East LLC, UAE.
Diasqua Nippon Co. Ltd., Japan.
Diasqua Singapore Pte. Ltd., Singapore.
Pretty Jewellery International Ltd., Hong Kong.
etc.
BUSINESS REGISTRATION NUMBER
34136445
COMPANY FILE NUMBER
0873832
MANAGEMENT
Managing Director: Mr. Sureshkumar Ravjibhai Ghevriya
Contact Person: Mr. Zulu Ghevriya
CAPITAL
Nominal Share Capital: HK$6,000,000.00 (Divided into 6,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,000,000.00
SHAREHOLDERS
(As per registry dated 05-12-2010)
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Name |
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No. of shares |
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Nimesh Piyush MEHTA |
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1,950,000 |
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Rajul Nimesh MEHTA |
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1,950,000 |
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Sureshkumar Ravjibhai GHEVRIYA |
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2,100,000 |
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–––––––– |
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Total: |
6,000,000 ======= |
DIRECTORS
(As per registry dated 19-01-2011)
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Name (Nationality) |
Address |
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Nimesh Piyush MEHTA |
16B & C, 16/F., block 3, Parc Palais, 18 Wyle Road, Homantin, Kowloon, Hong Kong. |
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Sureshkumar Ravjibhai GHEVRIYA |
Flat E, 2/F., Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong. |
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Romy Piyush MEHTA |
Flat B2, 20/F., Greenfield Terrace, 26 Ho Man Tin Hill Road, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 05-12-2010)
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Name |
Address |
Co.
No. |
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First Island Secretaries Ltd. |
Room 905, 9/F., Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong. |
0049295 |
HISTORY
The subject was incorporated on 5th December, 2003 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 products, gold and silver products, precious stones,
luxury watches, etc.
Employees: 7.
Commodities Imported: Imported from India, Belgium, Israel, other European countries, etc.
Markets: Japan, India, other Asian countries, Middle East, etc.
Annual Turnover: US$25~30 million.
Terms/Sales: L/C, T/T, D/P, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
· Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
· Hong Kong Watch Manufacturers Association Ltd., Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$6,000,000.00 (Divided into 6,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,000,000.00
Mortgage or Charge: (See attachment)
Profit or 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 contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of India, Hong Kong Branch.
DBS Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 6 million ordinary shares of HK$1.00 each, Prismdia Ltd. is jointly owned by three Indian, namely, Mr. Sureshkumar Ravjibhai Ghevriya, holding 35.0% interests; Mr. Nimesh Piyush Mehta, holding 32.5%; and Mr. Rajul Nimesh Mehta, also 32.5%.
The subject is a diamond trader. It is trading in “Prism” colour diamonds. In fact, it is a member of the Prism Group which was set up in India. The subject is trading in the diamonds of the Group while most of the products bear the brand name “PRISM”.
The Prism Group is famous for its so-called “Coffee Collection”. It also trades in “PRISM” watches. In 2004, the Group started to trade in its “PRISM” watches which are claimed to be luxurious and made of Swiss movement and handcrafted.
Formally established in India in 1997 under the leadership of Mr. Manish P. Jivani, Prism Group is a group of companies having its subsidiaries as Prism International in India, Prism (USA) Inc. in the United States, Prism Diamond Co. Ltd. in Thailand and the subject in Hong Kong.
Prism has been a diamond manufacturing, exporting and importing company since 1970. It is also a major player on the international diamond market. Prism Group has got manufacturing unit in Surat of India. The factory, engaged in manufacturing all kinds of quality diamonds, is the Prism Group’s state-of-the-art factory which is equipped with the latest and advanced technology.
The subject provides treated fancy colour diamonds and high-temperature-processed [HTHP] diamonds in a wide range of sizes, shapes and colours. With its own manufacturing plant in Mainland China and an in-house design team in Hong Kong, the subject produces more than 1,000 new designs annually to meet the needs of the medium to high market. Most of the products, about 60%, are exported to the United States, the remaining 40% are exported to Europe and the Middle East. Apart from wholesalers and department stores, chain stores also contribute to its client base.
The Group’s products include fancy colour diamonds, natural fancy colour diamonds and fancy cut diamonds. Fancy collared diamonds are natural diamonds that have been treated with electron accelerators operating at various energy levels as per colour requirement.
Prism is a member of GJEPC in Mumbai, India. In 2004, the Group launched its brand “COLO Collection”. Famous products are black tear, ocean heart, stripey square, diamond earrings, diamond ring, jewellery analogue watch, ladies’ jewellery watch, ladies’ diamond watch, men’s diamond chronograph, golden butterfly, diamond pendant, etc. Prism began trading in colour diamond jewellery and diamond studded luxury watches in 2004.
Prism Group has the state-of-the-art factory in Mainland China and India and in-house Research & Development Team in Hong Kong for product design & development.
The subject has taken part in the following fairs, exhibitions and shows:-
United
States
· JCK Las Vegas Show
Hong
Kong
· HK Int’l Jewellery Show
· HK Jewellery & Gem Fair
· HK Watch & Clock Fair
Macau
· Macau Jewellery & Gem Fair
· Macau Int’l Jewelry & Watch Fair
Asia (other than Hong Kong and China)
· Bangkok Gems & Jewelry Fair, Thailand
· India International Jewellery Show
· Bangkok Gems & Jewelry Fair, Thailand
Middle
East
· Jewellery Arabia, Bahrain
It is going to take part in Hong Kong Jewellery & Gem Fair which will be held during the period of 23rd to 26th June, 2011, and is also going to take part in Hong Kong International Jewellery Show which will be held during the period of 16th to 20th February, 2012.
Mr. Nimesh Piyush Mehta is also the Manager of Diasqua (HK) which is operated by Diasqua International Ltd. [Diasqua Intl]. Diasqua Intl is a Hong Kong-registered firm.
Established on 20th March, 2000, Diasqua (HK) is a member of the Diasqua Group. It is trading in fancy diamonds, certificated diamonds, diamond studded gold jewellery, etc.
Besides Diasqua (HK), Diasqua Intl is operating another firm known as Diaglobe (HK) which is also a diamond trader in Hong Kong.
The annual sales turnover of the subject ranges from US$25 to 30 million. Business is profitable.
The subject is fully supported by the Prism Group. History in Hong Kong is over seven years and five months.
On the whole, consider the subject good for normal business engagements.
REMARKS:
Court Cases: None per our.
Property
information of the company:-
Property Location: Unit
14 on 12/F. of West Wing, Peninsula Square,
18
Sung On Street, Kowloon, Hong Kong.
Owner: Prismdia Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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12-12-2005 |
- |
DBS Bank (Hong Kong) Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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12-12-2005 |
Instrument: Mortgage Property: 2,009/588,444th parts or shares of and in Kowloon Inland Lot No. 10985 (Unit 14 on 12/F. of West Wing, Peninsula Square, 18 Sung On Street, Kowloon, Hong Kong.) Mortgagee: DBS Bank (Hong Kong) Ltd., Hong Kong. |
To secure all moneys in respect of general banking facilities |
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10-01-2008 |
Instrument: Charge and Hypothecation of Book Debts Property: Hypothecation and charge to the Bank by way of charge on all the book debts outstanding, moneys receivable, claims and bills Mortgagee: Bank of India, Hong Kong Branch. |
US$1,500,000 |
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10-01-2008 |
Instrument: Letter of Lien Property: Nature
of Deposit: TDR Mortgagee: Bank of India, Hong Kong Branch. |
US$1,500,000 |
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10-01-2008 |
Instrument: Hypothecation of Tangible Moveable Property Property: All tangible moveable assets of borrower including in particular stocks of all goods of diamonds, gem, precious stones, jewellery, gold furniture and fixtures and plant and machinery, etc. Mortgagee: Bank of India, Hong Kong Branch. |
US$1,500,000 |
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10-01-2008 |
Instrument: General Letter of Hypothecation Property: Bills of exchange, and/or invoices, or any other documents representing or relating to goods Mortgagee: Bank of India, Hong Kong Branch. |
All the money |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.79 |
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UK Pound |
1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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 |
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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.