MIRA INFORM REPORT

 

 

Report Date :           

18.11.2011

 

IDENTIFICATION DETAILS

 

Name :

ASIA  GEMS

 

 

Registered Office :

Flat B, 10/F., Hang Lung Bank Building, 46-48 Granville Road, Tsimshatsui, Kowloon,

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.09.2011

 

 

Com. Reg. No.:

 54122680-000-09

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of gems.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Business

 

 

Payment Behaviour :

----

 

 

Litigation :

----

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

ASIA  GEMS

 

 

Company ADDRESS

 

Flat B, 10/F., Hang Lung Bank Building, 46-48 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Ms. Tanvi Jigar Shah

 

 

SUMMARY

 

Establishment:                          1st September, 2011.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   2.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Too early to comment.

Company ADDRESS

 

Head Office:-

Flat B, 10/F., Hang Lung Bank Building, 46-48 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

54122680-000-09

 

 

MANAGEMENT

 

Manager:  Ms. Tanvi Jigar Shah

 

 

SOLE PROPRIETOR

 

Name:  Ms. Tanvi Jigar SHAH

Residential Address:      Front, 6/F., 31 Ocean View Court, 31-33 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 1st September, 2011 as a sole proprietorship concern owned by Ms. Tanvi Jigar Shah under the Hong Kong Business Registration Regulations.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of gems.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, etc.

 

Markets:                       Hong Kong, Japan, other Asian countries, etc.

 

Annual Turnover:            Too early to obtain figure.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Too early to comment.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Asia Gems is a sole proprietorship set up and owned by Ms. Tanvi Jigar Shah who is an Indian businesswoman.  She is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  She is the manager of the subject.

The subject commenced business in September 2011.  However, Shah has been in Hong Kong and engaged in gems trading for a long time.

The subject is a gemstone importer, exporter and wholesaler.  It also trades in loose, polished and cut diamonds.

The subject is carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, etc.  Most of the commodities are imported from India, Sri Lanka, Thailand, etc..  Prime markets are Hong Kong, Japan and the other Asian countries.  Business is still under development.

The subject’s business is chiefly handled by Shah herself.  History in Hong Kong is just over two months.

On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on secured basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.72

UK Pound

1

Rs.79.88

Euro

1

Rs.68.64

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.