MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

STAR BRIGHT GEMS (HK) LTD.

 

 

Registered Office :

Room 346, 3/F., Conic Investment Building, 13 Hok Yuen Street, Hung Hom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

10.01.2012

 

 

Com. Reg. No.:

59333785

 

 

Legal Form :

Private Limited Company.

 

 

line of business :

Importer and Exporter of All kinds of gemstones, etc.

 

 

No. of Employees :

2.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

-

NB

                                       New Business

-

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and Address

 

STAR  BRIGHT  GEMS  (HK)  LTD.

 

ADDRESS:       Room 346, 3/F., Conic Investment Building, 13 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.

 

PHONE:            2142 8555

 

 

MANAGEMENT

 

Managing Director:  Mr. Manish Punabhai Chandpara

 

 

SUMMARY

 

Incorporated on:             10th January, 2012.

 

Organization:                 Private Limited Company.

 

Capital: Nominal:           US$100,000.00

 

Issued:                          US$80,000.00

 

Business Category:        Gemstone Trader.

 

Employees:                   2.

 

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

 

Banking Relation:           Satisfactory.

Company Name and Address

 

STAR  BRIGHT  GEMS  (HK)  LTD.

 

 

ADDRESS

 

Registered Head Office:-

Room 346, 3/F., Conic Investment Building, 13 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

59333785

 

 

COMPANY FILE NUMBER

 

1698032

 

 

MANAGEMENT

 

Managing Director:  Mr. Manish Punabhai Chandpara

 

 

CAPITAL

 

Nominal Share Capital: US$100,000.00 (Divided into 100,000 shares of US$1.00 each)

 

Issued Share Capital: US$80,000.00

 

 

SHAREHOLDERS

 

(As per registry dated 10-01-2012)

Name

 

No. of shares

Punabhai Vallabhbhai CHANDPARA

 

48,000

Manish Punabhai CHANDPARA

 

32,000

 

 

––––––

 

Total:

80,000

=====

 

DIRECTOR

 

(As per registry dated 10-01-2012)

Name

(Nationality)

 

Address

Manish Punabhai CHANDPARA

D/702, Krishna Galaxy, Datta Mandir Road, Vakola, Santacruz East, Mumbai 400055 MS. India.

 

 

SECRETARY

 

(As per registry dated 10-01-2012)

Name

Address

Co. No.

Pan Pacific Consultants Ltd.

Room 1207, 12/F., Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong Kong.

1254491

 

 

HISTORY

 

The subject was incorporated on 10th January, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at c/o Vanko Registrations Ltd., Room 1207, 12/F., Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong Kong, moved to the present address with effect from 20th February, 2012.

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

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of gemstones, etc.

 

Employees:                   2.

 

Commodities Imported:   India, other Asian countries, Europe, etc.

 

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

 

Terms/Sales:                 L/C or as per contracted.

 

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

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   US$100,000.00 (Divided into 100,000 shares of US$1.00 each)

 

Issued Share Capital:     US$80,000.00

 

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:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 80,000 ordinary shares of US$1.00 each, Star Bright Gems (HK) Ltd. is jointly owned by Punabhai Vallabhbhai Chandpara, holding 60% interests; and Manish Punabhai Chandpara, holding 40%.  Both are Indian merchants and currently residing in India.  The latter is also the only director of the subject who is an India passport holder.

The subject was incorporated in January 2012 and moved to the present address in February of the same year.

The subject is a gemstone and diamond trader.  It is trading in the following commodities: single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, 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, other Asian countries and Europe.  Prime markets are Hong Kong, India and the other Asian countries.

The subject is owned by the Chandpara family who has had a number of diamond suppliers in Mumbai, India.

The history of the subject in Hong Kong is just over seven months.  Business is still under development.

On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.99

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.