MIRA INFORM REPORT

 

 

Report Date :

 

 

 

 

Tel. No.:

 

Fax No.:

 

 

IDENTIFICATION DETAILS

 

Name :

ELEGANT  GEMS  LTD.

 

 

Formerly Known As :

 

 

 

Registered Office :

 

 

 

Country :

 

 

 

Financials (as on) :

 

 

 

Date of Incorporation :

 

 

 

Com. Reg. No.:

 

 

 

Legal Form :

 

 

 

Line of Business :

 

 

 

No. of Employees :

 

 

RATING & COMMENTS

 

MIRA’s Rating :

 

 

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

 

--

 

Status :

 

Payment Behaviour :

 

Litigation :

 

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

- ECONOMIC OVERVIEW

 

 

Source : CIA

 

ELEGANT  GEMS  LTD.

 

 

ADDRESS:       c/o Reva Gems & Jewels Ltd.

            Room 615, 6/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2366 4119

 

FAX:     2139 8234

 

MANAGEMENT:

 

Managing Director:  Mr. Rohit Dusad

 

 

SUMMARY

 

            Incorporated on:  26th July, 2011.

 

            Organization:  Private Limited Company.

 

            Capital: Nominal:           HK$3,500,000.00

                        Issued:  HK$3,500,000.00

 

            Business Category:        Gem Trader.

 

            Annual Turnover:  Too early to obtain figure.

 

            Employees:  3.  (Including affiliate)

 

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

 

            Banking Relation:  Satisfactory.

CREDIT RATING:

 

1)         STATUS:                       (20)..........(11)

Executive & officers        (10)

Organization & facilities  (  5)

Past     (  5)

 

2)         OPERATIONS:              (20)..........(11)

Transaction concerns     (10)

Settlement terms           (  5)

General reputation          (  5)

 

3)         FINANCE:                     (30)..........(20)

Financial construction    (10)

Banking relation (10)

Financial standing          (10)

 

4)         MANAGEMENT:                        (30)..........(20)

Labour management       (10)

Current activity   (15)

Future prospect (  5)

 

 

TOTAL: (100)........(62)

 

 

            A.         NO CAUTION NEEDS BE EXERCISED   100 – 90

            B.         NO CAUTION NEEDS BE EXERCISED AT PRESENT      89 – 70

X          C.         BORDER LINE  69 – 50

            D.         SOME CAUTION MAY BE EXERCISED  49 – 30

            E.         UNACCEPTABLE          29 –   0

 

 

RANKING:         C

ELEGANT  GEMS  LTD.

 

ADDRESS:

 

Registered Office:-

c/o Excellent Luck Ltd.

Room 736, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Operating Address:-

c/o Reva Gems & Jewels Ltd.

Room 615, 6/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-

Excellent Luck Ltd., Hong Kong.

Interseas Trading Co., Hong Kong.

Reva Gems & Jewels Ltd., Hong Kong.  (Same address)

Wealthy Mark Private Ltd., Hong Kong.

 

BUSINESS REGISTRATION NUMBER:  58773140

 

COMPANY FILE NUMBER:  1642285

 

MANAGEMENT:

 

Managing Director:  Mr. Rohit Dusad

 

CAPITAL:

 

            Nominal Share Capital: HK$3,500,000.00 (Divided into 3,500,000 shares of HK$1.00 each)

 

            Issued Share Capital: HK$3,500,000.00

 

SHAREHOLDER:           (As per registry dated 26-07-2012)

Name

 

No. of shares

Rohit DUSAD

 

3,500,000

=======

 

DIRECTOR:       (As per registry dated 26-07-2012)

Name

(Nationality)

 

Address

Rohit DUSAD

204E, 31/F., Gems Tower, Charone Kung 47/3, Bangkok 10500, Thailand.

 

SECRETARY:   (As per registry dated 26-07-2012)

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 July, 2011 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 gems, diamonds, etc.

 

            Employees:       3.  (Including affiliate)

 

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

 

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

 

            Annual Turnover:            Too early to obtain figure.

 

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

 

            Terms/Buying:  L/C, pre-payment, etc.

 

FINANCIAL INFORMATION:

 

            Nominal Share Capital: HK$3,500,000.00 (Divided into 3,500,000 shares of HK$1.00 each)

 

            Issued Share Capital: HK$3,500,000.00

 

            Alternation of Capital:-

Initially

paid up

HK$     10,000.00

December 2012

paid up

HK$3,490,000.00

 

 

–––––––––––––––

Total:

paid up

HK$3,500,000.00

=============

 

            Increase of Nominal Capital:-

From

HK$10,000.00

to

HK$3,500,000.00

on

December 2012

 

            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 contracted.

 

            Commercial Morality:  Satisfactory.

 

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

 

            Standing:  Small.

 

GENERAL:

Having issued 3,500,000 ordinary shares of HK$1.00 each, Elegant Gems Ltd. is wholly owned by Mr. Rohit Dusad who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

Dusad’s registered address is in Bangkok, Thailand.  He is also the only director of the subject.

Incorporated in July 2011, the subject shares the same office with another firm known as Reva Gems & Jewels Ltd. [Reva] which is a Hong Kong‑registered firm.  Reva is located at “Room 615, 6/F., Beverley Commercial Centre, 87-106 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong”.  Its phone number is 2366 4119.  Reva is owned and operated by Mr. Ankit Dusad who is a family member of Rohit Dusad.  Rohit Dusad can be reached at the above-mentioned phone number.

The subject is carrying the following gems and 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.

The subject also trades in the following products:-

Precious stones:-

Emeralds (from Columbus & Zambia);

Fancy Sapphire;

Ruby (from Burma, Thailand); &

Sapphire (from Ceylon & Kanchanapuri).

Commodities are chiefly imported from Thailand and India.  Prime markets are Hong Kong, Thailand, other Asian countries, etc.

The subject has got an associated company in Bangkok, Thailand which is also operated by Dusad.

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 2014” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 5th to 9th March, 2014.  Its booth No. is 5CON-057.

The subject’s business in Hong Kong is under development.  History in Hong Kong is just over a year.

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.

UK Pound

1

Rs.

Euro

1

Rs.

 

 

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%)

 

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.