MIRA INFORM REPORT

 

 

Report Date :           

21.09.2011

 

IDENTIFICATION DETAILS

 

Name :

VICTORY  JEWELLS

 

 

Registered Office :

Room 1124, 11/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

29.09.1989

 

 

Com. Reg. No.:

13054173-000-09

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of gemstones, 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

 

 Bottom of Form

Company name

 

VICTORY  JEWELLS

 

 

Company ADDRESS

 

Room 1124, 11/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

PHONE:            2368 4534

FAX:                 2739 2433

E-MAIL:                        jain@netvigator.com

 

 

MANAGEMENT

 

Manager:  Mr. Rakesh Kumar Jain

 

 

SUMMARY

 

Establishment:                          29th September, 1989.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Gemstone Trader.

 

Employees:                   6.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 1124, 11/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

P.O. Box 91428, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

13054173-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Rakesh Kumar Jain

 

 

PARTNERS

 

Name:                           Rakesh Kumar JAIN

Residential Address:      Flat B, 10/F., Lip Seng Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kowloon, Hong

Kong.

 

Name:                           Seema JAIN

Residential Address:      Flat B, 10/F., Lip Seng Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kowloon, Hong

Kong.

 

 

HISTORY

 

The subject was established on 29th September, 1989 as a partnership concern under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Rakesh Kumar JAIN

29-09-1989

-

Vijendra KANSAL

29-09-1989

15-08-1993

Vijay KEDIA

15-08-1993

31-03-1997

Seema JAIN

01-04-1997

-

 

At the very beginning, the subject was located at Flat B, 10/F., Lip Seng Mansion, 15-19 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to 6/F., Block 11A, Liberty Mansion, 9-11 Liberty Avenue, Waterloo Road, Kowloon, Hong Kong in December 1989; moved back to Lip Seng Mansion in July 1990; to Room 602, 6/F., Fung Lee Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in July 1995; moved back to Lip Seng Mansion again in September 1996; to Flat 7, 14/F., 7 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong in January 2001; to Flat F, 12/F., Hilton Tower, 96 Granville Road, Tsimshatsui East, Kowloon, Hong Kong in February 2003; to Flat A, 12/F., Valiant Commercial Building, 22-24 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in August 2003; and further moved to the present address in January 2007.

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

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of gemstones, etc.

 

Employees:                   6.

 

Commodities Imported:   India, Thailand, Europe, US, etc.

 

Markets:                       Hong Kong, other Asian countries, Middle East, etc.

 

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

 

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

 

 

MEMBERSHIP

 

Hong Kong Gemstone Manufacturers’ Association Ltd., Hong Kong.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit every year.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Normal.

 

 

GENERAL

 

Victory Jewells is a partnership jointly owned by Mr. Rakesh Kumar Jain and Mr. Seema Jain.  Both of whom are Indian belonging to the Jain family.  The two Jains have been in Hong Kong for a very long time.

The subject is a diamond and gemstone trader.  It is trading in loose diamonds like marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut, etc.  Its significant products are rubellite stones, black diamonds, briolette-cut diamonds, diamond necklace, black diamonds, etc.

The subject is also a leading manufacturer, wholesaler and exporter of cut stones, beads, cabs, toumbles and chips.  Its products include emerald, ruby, sapphire, rose, cut diamond, tourmaline, garnet, moonstone, amethyst, citrine, peridot, blue topaz, rose quartz smoky, camelian, etc.  The subject exports its products to Japan, North America, Taiwan, Europe, the Middle East, etc.

Rakesh Kumar Jain is the vice president of (HKGMA) Hong Kong Gemstone Manufacturers’ Association Ltd.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2012.

The history of the subject in Hong Kong is about twenty-two years.

On the whole, consider the subject good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.22

UK Pound

1

Rs.75.63

Euro

1

Rs.65.65

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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