MIRA INFORM
REPORT
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Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
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Name : |
INTERJEWEL
(HK) CO. LTD. |
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Formerly Known As : |
Diamond World
Holdings Ltd |
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Registered Office : |
Room 608, 6/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon |
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Country : |
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Date of Incorporation : |
10.05.1994 |
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Com. Reg. No.: |
18854001 |
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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. |
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No. of Employees
: |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
INTERJEWEL (HK) CO. LTD.
Room 608, 6/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2367 8455
FAX: 2366 4177
E-MAIL: info@interjewel.com.hk
Managing Director: Mr. Pratish Rupen Kothari
Incorporated on: 10th May, 1994.
Organization: Private Limited Company.
Capital: Nominal: HK$50,000,000.00
Issued: HK$50,000,000.00
Business Category: Jewellery Trader.
Employees: 9.
Main Dealing Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 608, 6/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Trading as:-
Little Rocks (H.K.) Company, Hong Kong. [BR No. 18854001-001]
Holding Company:-
Interjewel Singapore Pte. Ltd., Singapore.
Associated
Companies:-
· Interjewel Designs, India.
· Interjewel Europe NV, Belgium.
· Interjewel Pvt. Ltd., India.
· Interjewel Thailand Co. Ltd., Thailand.
· Interjewel USA Inc., USA.
18854001
0477617
Managing Director: Mr. Pratish Rupen Kothari
Nominal Share Capital: HK$50,000,000.00 (Divided into 50,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000,000.00
(As per registry
dated 10-05-2011)
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Name |
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No. of shares |
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Interjewel Singapore Pte. Ltd. 80 Raffles Place, #25-01 UOB Plaza, Singapore 048624. |
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25,500,000 |
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Pratish Rupen KOTHARI |
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24,500,000 |
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––––––––– |
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Total: |
50,000,000 ======== |
(As per registry
dated 31-10-2011)
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Name (Nationality) |
Address |
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Pratish Rupen KOTHARI |
Flat B, 10/F., Tower 2, Harbourfront Landmark, 11 Wan Hoi Street, Hunghom, Kowloon, Hong Kong. |
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Ketan Suresh MEHTA |
603, K.B.S. Building, 30-38 Mahaesak Soi 3, Bangkok 10500, Thailand. |
(As per registry
dated 10-05-2011)
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Name |
Address |
Co.
No. |
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Gem Glad Secretaries Ltd. |
Room 1601, 16/F., Sing Pao Building, 101 King’s Road, North Point, Hong Kong. |
1001061 |
The subject was incorporated on 10th May, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Diamond World Holdings Ltd., name changed to the present style on 24th August, 2007.
Formerly the subject was located at Unit E1, 2/F., Kaiser Estate, Phase 1, 41 Man Yue Street, Hunghom, Kowloon, Hong Kong, moved to the present address with effect from 4th June, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 9.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Hong Kong, Japan, other Asian countries, Belgium, US, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$50,000,000.00 (Divided into 50,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active and satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· The Royal Bank of Scotland N.V., Hong Kong Branch.
· Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong Branch.
Standing: Normal.
Having issued 50 million ordinary shares of HK$1.00 each, Interjewel (HK) Co. Ltd. is jointly owned by Interjewel Singapore Pte. Ltd. which is a Singapore-based firm holding 51%, and Mr. Pratish Rupen Kothari who is an Indian holding 49%.
The subject is a diamond importer, exporter and wholesaler. It has had an affiliated company in India known as Interjewel Pvt. Ltd. [Interjewel]. Besides the subject, Interjewel has set up a number of associated companies in Thailand, Belgium and the United States.
The subject is trading in carat diamonds, loose diamonds, colour and white diamonds. It also offers clients with all kinds of diamond manufacturing service.
The predecessor of the subject Diamond World Holdings Ltd. was an affiliated firm of D. Navinchandra & Co., also an India-based firm.
Established in 1970, D. Navinchandra & Co. is one of the leading exporters of cut and polished diamonds, carat diamond and diamond studded jewellery in India. It is a registered trading house recognised by the Government of India, Ministry of Commerce.
Having been ISO 9001 certified, D. Navinchandra & Co. is one of the few diamond companies which is able to get rough diamonds from four of the leading miners of the world, namely, Diamond Trading Company [DTC] and Argyle Diamond Mine (Australia), Diavik Diamond Mine (Canada) and Murowa Mines (Zimbabwe).
D. Navinchandra & Co. has established a global network with offices in large cities of the world. It is exporting Cut & Polished diamonds to many countries which include the United States, Belgium, Italy, Germany, Japan, the Middle East, Hong Kong, Singapore and Thailand.
Now, the subject still has had business ties with D. Navinchandra & Co. Its jewellery and diamonds are chiefly imported from India and Belgium. Prime markets are the United States, Belgium, Japan, Singapore and the other Asian countries. Singapore is its prime market as its holding company is a Singapore-based firm.
The business of the subject is chiefly handled by Mr. Kothari Pratish Rupen.
Overall business of the Interjewel Group is active and steady. Business is lucrative.
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 took part in “HKTDC Hong Kong International Jewellery Show 2012” which had been held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 16th to 20th February, 2012.
Besides, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2013” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 5th to 9th March, 2013.
On the whole, since the history of the subject in Hong Kong is about eighteen years, consider it good for normal business engagements.
REMARKS:
Property information of the company:-
Property Location: Workshop Unit No. 8 on 6/F., Heng
Ngai Jewelry Centre,
4 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Interjewel (HK) Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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19-08-2010 |
- |
The Royal Bank of Scotland N.V., Hong Kong Branch. |
Mortgage to secure general banking facilities |
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Date |
Particulars |
Amount |
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23-01-2002 |
Instrument: Debenture Property: 1) All freehold and leasehold property of the Company 2) All stocks, shares, bonds and securities of any kind whether marketable or otherwise and all other interests including loan capital of the Company 3) All book and other debts, revenues and claims 4) The uncalled capital, goodwill and all patents, patent applications, trade marks, trade names, registered designs and copyrights and all licences and ancillary and connected rights relating to the intangible property 5) The undertaking and all other assets of the Company Mortgagee: Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong Branch. |
General credit facilities of sum of HK$7,800,000 |
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28-01-2002 |
Instrument: Debenture Property: All the Company’s undertaking and property and assets Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
General banking facilities |
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19-08-2010 |
Instrument: Mortgage Property: 19/4,978th parts or shares of and in Section D of Kowloon Marine Lot No. 113 (Workshop Unit No. 8 on 6/F. of Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.) Mortgagee: The Royal Bank of Scotland N.V., Hong Kong Branch. |
General banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.99 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
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.