MIRA INFORM REPORT

 

 

Report Date :

27.05.2011

 

IDENTIFICATION DETAILS

 

Name :

GLOBUS  GEMS  (HK)

 

 

Registered Office :

Flat B, 12/F., Tak Cheung Building, 22-24 Wing Lok Street, Sheung Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.08.2007

 

 

Com. Reg. No.:

38310695-000-08

 

 

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

 

Name and address

 

GLOBUS  GEMS  (HK)

 

 

ADDRESS:       Flat B, 12/F., Tak Cheung Building, 22-24 Wing Lok Street, Sheung Wan, Hong Kong.

 

PHONE:                        2122 9776

 

FAX:                 2122 9857

 

 

MANAGEMENT

 

Manager:  Mr. Kishorkumar Gemanjibhai Patel

 

 

SUMMARY

 

Establishment:                          23rd August, 2007.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Gem Trader.

 

Employees:                   3.  (Including associates)

 

Main Dealing Banker:     Hang Seng Bank Ltd., Hong Kong.

 

Banking Relation:           Fair.

ADDRESS

 

Head Office:-

Flat B, 12/F., Tak Cheung Building, 22-24 Wing Lok Street, Sheung Wan, Hong Kong.

 

Affiliated/Associated Companies:-

Agnes B. Trading Co., Hong Kong.  (Same address)

Globus Gems (HK) Ltd., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

38310695-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Kishorkumar Gemanjibhai Patel

 

 

PARTNERS

 

Name:  Mr. Kishorkumar Gemajibhai PATEL

Residential Address:      A/602, Indraprasth Apt., Opp. Nakinawadi Sumul Diary Road, Surat Kujrat, India.

 

Name:  Mr. Keshor Gemajibhai JIVANI

Residential Address:      A/602, Indraprasth Apt., Opp. Nakinawadi Sumul Diary Road, Surat Kujrat, India.

 

 

HISTORY

 

The subject was established on 23rd August, 2007 as a sole proprietorship concern owned by Mr. Kishorkumar Gemajibhai Patel under the Hong Kong Business Registration Regulations.  It became a partnership as Mr. Keshor Gemajibhai Jivani joined in as a partner on 9th July, 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:                   3.  (Including associates)

 

Commodities Imported:   India, Europe, etc.

 

Markets:                       Hong Kong, 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:                Kept a balance account in 2010.

 

Condition:                      Business is under development.

 

Facilities:                      Trying to make use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Hang Seng Bank Ltd., Hong Kong.

 

Standing:                       Small.

 

 

GENERAL

 

Globus Gems (HK) is a partnership jointly owned by Mr. Kishorkumar Gemajibhai Patel and Mr. Keshor Gemajibhai Jivani, both of whom are Indian.  They are also India passport holders and do not have the right to reside in Hong Kong permanently.

The subject has had an affiliated company Agnes B. Trading Co. [ABTC], a Hong Kong-registered firm, located at its operating address.  It seems that ABTC is a business partner of the subject.

The owner of ABTC is Mr. Au Yeung Yu Lam who is a Hong Kong merchant.

The subject has had an associated company Globus Gems (HK) Ltd. located at its registered address.  It is likely that this firm is also owned by the partners of the subject.

The subject is a diamond importer, exporter and wholesaler.  It is trading in the following commodities: single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc.

Most of the diamonds are imported from India.  ABTC is also a diamond trader.  It is likely that ABTC is responsible for the distribution of the diamonds.  Hong Kong is its prime market.

It is likely that the partners of the subject are operating a diamond manufacturing firm in India.  The India firm is supplying ABTC with all kinds of polished, cut and loose diamonds.

The partners of the subject are not in their office most of the time.  It seems that ABTC is handling the correspondence of the subject and handling its documents.

On the whole, since the history of the subject is just over three years and nine months, consider it good for normal business engagements on L/C basis.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

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%)

 

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