MIRA INFORM
REPORT
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Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KOMAL
GEMS |
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Registered Office : |
Room 802, 8/F., Guardforce Centre, |
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Country : |
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Date of Incorporation : |
23.12.1991 |
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Com. Reg. No.: |
15157882-000-12 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery products, emerald, 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 : |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
KOMAL GEMS
Company ADDRESS
Room 802, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2311 9628, 2367 0121
FAX: 2311 4498
E-MAIL: komal@komalgems.com
MANAGEMENT
Manager: Mr. Rakesh Girdharlal Gajera
SUMMARY
Establishment: 23rd December, 1991.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: 8. (Including affiliate)
Main Dealing Banker: Wing Lung Bank Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
Room 802, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Affiliated
Companies:-
Cygnus Jewelry Inc.,
Komal Gems N.V.,
L. D. Creations,
Laxmi Dia Jewels Pvt. Ltd.,
Laxmi Diamond (HK) Ltd., Hong Kong. (Same address)
Laxmi Diamond (
Laxmi Diamond Pvt. Ltd.,
Laxmi Jewel Pvt. Ltd.,
Mili Star (N.Y.) Inc.,
Mili Star Co. Ltd.,
BUSINESS REGISTRATION NUMBER
15157882-000-12
MANAGEMENT
Manager: Mr. Rakesh Girdharlal Gajera
SOLE PROPRIETOR
Name: Mr. Rakesh Girdharlal GAJERA
Residential Address: Flat 8C, 8/F., Tower 12A, Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon,
HISTORY
The subject was established on 23rd December, 1991 as a partnership concern jointly owned by Mr. Rajeshkumar Chandanmal Shah and Mr. Ashok Kumar Haribhai Gajera under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
Name |
Incoming Date |
Outgoing Date |
|
Rajeshkumar Chandanmal SHAH |
23-12-1991 |
22-02-2006 |
|
Ashok Kumar Haribhai GAJERA |
23-12-1991 |
29-12-1993 |
|
Girdharbhai H. GAJERA |
05-05-1995 |
29-10-2002 |
|
Kiran Shambhu VAGHASHIYA |
28-06-1995 |
24-05-2000 |
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Lalit Jivraj PATEL |
24-05-2000 |
01-06-2008 |
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Vipulkumar Kesubhai BOGHANI |
03-01-2002 |
30-11-2009 |
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Rakesh Girdharlal GAJERA |
21-02-2006 |
- |
Initially the subject was located at Room 2208, 22/F., Melbourne Plaza, 33 Queen’s Road Central, Hong Kong, moved to Room 404, 4/F., Block C, Lip Seng Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in March 1992; to Room 914, 9/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in May 1993; to Room 906, 9/F., Hang Seng Tsim Sha Tsui Building, 18 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in August 1994; to Room 807, 8/F. of the same building in August 2000; and further moved to the present address in June 2004.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery products, emerald, etc.
Employees: 8. (Including affiliate)
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 & Loss: Maintaining a small profit every year.
Condition: Business is active and steady.
Facilities: Making active use of general banking facilities.
Payment: Met as contracted.
Commercial Morality: Satisfactory.
Bankers:-
·
Wing Lung Bank Ltd.,
·
Antwerpse
Standing: Small.
GENERAL
Komal
Gems was a partnership jointly owned by Mr. Vipulkumar Kesubhai Boghani and Mr.
Rakesh Girdharlal Gajera. However,
Boghani retired on 30th November, 2009, since then the subject has become a
sole proprietorship owned by the latter.
R. G. Gajera is a Hong Kong ID Card holder and has got the right to
reside in
The
subject has got an affiliated company Laxmi Diamond (HK) Ltd.
[Laxmi Diamond] located at its operating address. The directors of Laxmi Diamond are Monikaben
Rakesh Gajera and Ashokkumar Haribhai Gajera.
The Gajeras are the family member of R. G. Gajera. Laxmi Diamond is a subsidiary company of an
The subject also has got another affiliated company Komal Gems N.V. [Komal] which is a Belgium-based firm. Komal is a manufacturer and wholesaler of diamonds and gems.
Komal
is a subsidiary of Lamxi. It is one of
the largest diamond wholesalers in
Having
more than 30 years experience in manufacturing diamonds products, Laxmi is now
one of the largest diamond manufacturing companies in
Laxmi
becomes a “sightholder” of the Diamond Trading Company [DTC] of
Komal
is specialised in manufacturing star and melee from white to “TTLB”. It also produces a wide range of diamond in
round, princess cut, taper and marquise.
Possessing substantial stocks, Komal is able to supply customers with
diamonds in large quantities on diamonds.
The major markets of Komal are the
Komal is also trading in uncut diamonds. It is a diamond importer while Laxmi is an exporter and manufacturer.
Besides
the subject, Laxmi has got affiliated companies in
Laxmi
has had three jewellery brands, namely, “Cygnus” in
Currently, the Chairman of Laxmi Diamond Group is Mr. Vasant Gajera.
The subject is fully supported by Laxmi. Overall business is satisfactory.
On the whole, consider the subject good for normal business engagements.
REMARKS:
Court case record:-
|
Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Aug. 2003 |
H21 |
Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV) |
Komal Gems |
Assignment of Receivable |
Not stated |
Property information of the company:-
Property
Location: Unit No. 2 on 8/F.,
Guardforce Centre,
Owner: Laxmi Diamond (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
29-01-2008 |
- |
Wing Lung Bank Ltd., |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
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|
1 |
Rs.74.27 |
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Euro |
1 |
Rs.64.35 |
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.