MIRA
INFORM REPORT
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Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIRICH JEWELLERY LTD. |
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Registered Office : |
Room 902-903, 9/F., Hilder Centre, 2 Sung Ping Street, Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.05.2006 |
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Com. Reg. No.: |
36787961 |
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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, 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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – 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
UNIRICH JEWELLERY
LTD.
(Business name: UNIQUE DIAMONDS)
company Address
Room 902-903, 9/F., Hilder Centre,
2 Sung Ping Street, Hunghom,
Kowloon, Hong Kong.
PHONE: 2376 2007
FAX: 2376 3734
E-MAIL: info@unirichjew.com
MANAGEMENT
Managing Director: Mr. Sohan
Goenka
SUMMARY
Incorporated on: 26th
May, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$2,500,000.00
Issued: HK$2,500,000.00
Business Category: Jewellery Trader.
Employees:
33.
Main Dealing Banker: Citibank N.A., Hong Kong Branch.
Banking Relation: Satisfactory.
company ADDRESS
Registered Head
Office:-
Room 902-903, 9/F., Hilder Centre, 2 Sung Ping Street, Hunghom, Kowloon,
Hong Kong.
Business Name:-
Unique Diamonds, Hong Kong. [BR No. 36787961-001] (Same address)
Affiliated
Companies:-
Emgeen Gems Ltd., Thailand.
Rich Diamonds Inc., Japan.
Rich Gems Inc., USA.
Shanti Enterprises, India.
BUSINESS REGISTRATION NUMBER
36787961
COMPANY FILE NUMBER
1048060
MANAGEMENT
Managing Director: Mr. Sohan
Goenka
CAPITAL
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
SHAREHOLDERS
(As per registry dated 26-05-2011)
|
Name |
|
No. of shares |
|
Sohan GOENKA |
|
1,750,000 |
|
Asha GOENKA |
|
750,000 |
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|
–––––––– |
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Total: |
2,500,000 ======= |
DIRECTORS
(As per registry dated 26-05-2011)
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Name (Nationality) |
Address |
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Asha GOENKA |
Flat 5, 12/F., 5-7 Chatham Road South, Tsimshatsui, Kowloon, Hong
Kong. |
|
Sohan GOENKA |
Flat 5, 12/F., 5-7 Chatham Road South, Tsimshatsui, Kowloon, Hong
Kong. |
SECRETARY
(As per registry dated 26-05-2011)
|
Name |
Address |
Co. No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
HISTORY
The subject was incorporated on 26th May, 2006 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, emerald, precious stones, etc.
Employees: 33.
Commodities Imported: India, other Asian countries, etc.
Markets: Southeast
Asia, China, Japan, other Asian countries, North America, Western Europe, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares
of HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Group makes a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
Citibank
N.A., Hong Kong Branch.
Standing:
Normal.
GENERAL
Having issued 2.5 million
ordinary shares of HK$1.00 each, Unirich Jewellery Ltd. is jointly owned by Mr.
Sohan Goenka, holding 70% interests; and Mr. Asha Goenka, holding 30%. They are also directors of the subject.
The subject is a Hong Kong based
jewellery manufacturing and exporting company which has expanded its operations
worldwide. The subject is a member of
the Unirich Jewellery Group.
Unirich Jewellery Group was
founded in 1984 by Mr. Sohan Goenka, Chairman of the Group. The Group has been serving the gems and
jewellery industry for over two decades.
The subject sources its
diamonds from Mumbai, India.
The subject is trading in
the following commodities:-
|
Product/Service |
Product/Service Remarks |
|
Precious and Semi-Precious Jewellery |
From China (Importer) From China (Manufacturer) From China (Exporter) |
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Jewellery – Diamond |
From China (Importer) From China (Exporter) From China (Manufacturer) |
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Jewellery – Gemset |
Colour stone from China (Importer) Colour stone from China (Manufacturer) Colour stone from China (Exporter) |
Besides, the subject also
trades in fine jewellery including rings, earrings, pendants, necklaces, bracelets,
bangles, brooches, tie pins and clips, belt buckles and watches in 18K, 14K, pt
900 and pt 950 respectively. The
subject’s products have been exported to Southeast Asia, China, Japan, other
Asian countries, North America, Western Europe, etc. Business is rather active.
Unirich Jewellery Group has
set up marketing offices in some countries such as Japan, the United States,
Thailand and India. It also has set up
manufacturing units in India and China.
These factories have got modern machines for diamond cutting and
polishing operated by trained craftsmen.
The stones are then assorted and graded into different lots as per their
cut, colour, clarity and size.
In 2006, Unirich Jewellery
Group established a factory in Russia in order to produce more price
competitive diamonds.
The Group also has had
manufacturing unites for jewellery are located at West Panyu, Guangzhou City,
Guangdong Province, China. A team of
over 3,000 skilled craftsmen creates more than 250,000 pieces of novel jewellery
each year.
The Group now has achieved
a commendable growth rate with an annual turnover of US$100 million. As a leading manufacturer/exporter of
jewellery, the group is a member of jewellery board of Hong Kong, Thailand,
Japan and the United States.
The Group’s major markets
cover Honk Kong, South Korea, the Middle East, India, Pakistan, China, Japan,
Europe (Italy and the United Kingdom), Australia, and the United States. It is supplying fine jewellery to chain
stores, T.V. shopping channels, electronic retailers and importers/wholesalers
at vary competitive prices in the above-mentioned countries and have built a
reputation for honest and fair dealing with its customers over the years.
The Group is owned by the
Goenka family. The subject is fully
supported by the Group.
On the whole, consider the
subject good for normal business engagements.
REMARKS
Property information of the company:-
Property Location: Flat B on 57/F. & Flat B on 58/F. of Tower 3,
Harbourfront Landmark, 11 Wan Hoi Street, Kowloon, Hong Kong.
Owner: Unirich Jewellery Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date
of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
27-10-2006 |
- |
Citibank N.A., Hong Kong Branch. |
Legal charge to secure general banking facilities |
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
27-10-2006 |
Instrument: Legal Charge Property: 348/74,479th parts or shares of and in Kowloon Inland Lot No. 11055
(Flat B on 57/F. & Flat B on 58/F. of Tower 3 of Harbourfront Landmark,
11 Wan Hoi Street, Kowloon, Hong Kong.) Mortgagee: Citibank N.A., Hong Kong Branch. |
To secure all sums of money including general banking facilities |
|
27-10-2006 |
Instrument: Rental Assignment Property: 348/74,479th parts or shares of and in Kowloon Inland Lot No. 11055
(Flat B on 57/F. & Flat B on 58/F. of Tower 3 of Harbourfront Landmark,
11 Wan Hoi Street, Kowloon, Hong Kong.) Mortgagee: Citibank N.A., Hong Kong Branch. |
To secure all sums of money including general banking facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.79 |
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|
1 |
Rs.75.06 |
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Euro |
1 |
Rs.65.35 |
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 |
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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.