|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOPAL GEMS |
|
|
|
|
Registered Office : |
Room 2, Unit 306, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
29.04.2008 |
|
|
|
|
Com. Reg. No.: |
39233313-000-04 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Gemstone Trader of Men's diamond watch bezels, diamond necklaces and emeralds, etc. |
|
|
|
|
No. of Employees : |
3. |
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, 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 |
GOPAL GEMS
ADDRESS: Room 2, Unit 306, 3rd Floor, Harbour Centre
Tower 1, 1 Hok Cheung Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 9288 6137
FAX: 3905 7799
Manager: Mr. Vijay Vallabhbhai
Lankhani
Establishment: 29th
April, 2008.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Gemstone Trader.
Employees:
3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 2, Unit 306, 3rd Floor, Harbour Centre Tower 1, 1 Hok Cheung
Street, Hung Hom, Kowloon, Hong Kong.
39233313-000-04
Manager: Mr. Vijay Vallabhbhai
Lankhani
Name: Mr. Vijay Vallabhbhai LANKHANI
Residential Address: Room A,
6/F., 22-24 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 29th April, 2008 as a sole proprietorship
concern owned by Vijay Vallabhbhai Lankhani under the Hong Kong Business Registration
Regulations.
At the very beginning, the subject was located at 2/F., Tung Wui
Commercial Building, 27 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to
1/F., 196 Reclamation Street, Yau Ma Tei, Kowloon, Hong Kong in October 2009
and further to the present address in March 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Gemstone
Trader.
Lines: Men's
diamond watch bezels, diamond necklaces and emeralds, etc.
Employees: 3.
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Hong
Kong, Japan, Southeast Asia, North America, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Capital: Not
disclosed.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities: Making rather 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.
Gopal Gems is a sole proprietorship set up and owned by Mr. Vijay
Vallabhbhai Lankhani who is an Indian.
Being the manager of the subject, he is a Hong Kong ID Card holder and
has got the right to reside in Hong Kong permanently.
The subject is trading in the following commodities:-
Loose Diamonds, Fancy Diamonds, Emerald Stones, Ladies’ Diamond
Necklaces, Men’s Diamond Watch Bezels, etc.
The subject also carries the following semi-precious stones:
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.
Products are imported from India, other Asian countries and Europe. Prime markets are Hong Kong, Japan, Southeast
Asia, North America, etc.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong. For instance, 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.
The history of the subject in Hong Kong is over four years.
On the whole, consider the subject good for normal business engagements.
DIAMOND INDUSTRY –
INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
|
|
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.