MIRA
INFORM REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SUPERB JEWELLERY |
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Registered Office : |
C/o Gurus & Lexes Consultants Ltd. |
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Country : |
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Date of Incorporation : |
21.09.2009 |
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Com. Reg. No.: |
51183495-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, 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 : |
Usually Correct |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
SUPERB JEWELLERY
company ADDRESS
c/o Gurus & Lexes Consultants Ltd.
PHONE: 2838 8530
FAX: 3157 7910
MANAGEMENT
Manager: Mr. Shiv Shankar Gopawat
SUMMARY
Establishment: 21st
September, 2009.
Organization: Sole
Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Fairly
satisfactory.
company ADDRESS
Head Office:-
c/o Gurus & Lexes Consultants Ltd.
Associated
Companies:- (Same owner)
Sharp Diamonds,
Supreme Trading FZE,
BUSINESS REGISTRATION NUMBER
51183495-000-09
MANAGEMENT
Manager: Mr. Shiv Shankar Gopawat
SOLE PROPRIETOR
Name: Mr. Shiv Shankar GOPAWAT
Residential Address: Po-Kharsan,
Via-Kheroda,
HISTORY
The subject was established on 21st September, 2009 as a sole
proprietorship concern owned by Mr. Shiv Shankar Gopawat 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 diamonds
and jewellery products, emerald, precious stones, etc.
Employees: Nil.
Commodities Imported:
Markets:
Annual Turnover: Too early to obtain figure.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, 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 contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Superb Jewellery is a sole
proprietorship set up on 21st September, 2009 and owned by Mr. Shiv Shankar
Gopawat who is an Indian. He is an
The subject does not have
its own operating office. Its registered
office is in a commercial service firm located at
The subject is a diamond
and jewellery importer, exporter and wholesaler. Most of the commodities are imported from
The subject is just a
one-man company. Business is chiefly
handled by Gopawat himself.
GOPAWAT is also the owner
of another firm Sharp Diamonds [Sharp] which was also registered in
Besides the subject and
Sharp, Gopawat is also the sole proprietorship of Supreme Trading FZE
[Supreme]. Business commenced in
September 2009, Supreme does not have its own operating office. Its registered office is also in the
operating office of Gurus & Lexes located at Room 1002, 10/F., Chuang’s
Tower,
Supreme is also a diamond
trader. Besides trading in diamonds, its
also trades in other commodities such as furniture, electronic products,
electric appliances, etc.
The history of the subject
in
Since the subject does not
have its own operating office and has no employees in Hong Kong, consider it
good for business engagements on secured basis.
COURT CASES: None
per our.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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1 |
Rs.77.58 |
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Euro |
1 |
Rs.67.58 |
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.