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Report No. : |
352557 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
AURAGEM CO.
LTD. |
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Registered Office : |
Room 01, Unit D2, 12/F., Hang Fung Industrial Building, Phase II, 2G
Hok Yuen Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.06.2010 |
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Com. Reg. No.: |
52388084 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, exporter and wholesaler of all kinds of gemstones |
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No. of Employee : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 12.5% of total system deposits in Hong Kong by the end of 2014. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4.4% in 2014. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
AURAGEM
CO. LTD.
Room 01, Unit D2,
12/F., Hang Fung Industrial Building, Phase II, 2G Hok Yuen Street, Hunghom,
Kowloon, Hong Kong.
PHONE: 852-2333 4656
FAX: 852-2994 5208
E-MAIL: auragemhk@gmail.com
divyesh.gandhi@auragemcompany.com
Managing Director:
Mr. Divyeshkumar Nareshkumar Gandhi
Incorporated
on: 4th
June, 2010.
Organization: Private
Limited Company.
Issued Share
Capital: HK$8,580,000.00
Business Category:
Importer, Exporter and Wholesaler.
Employees: 2.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
52388084
1464827
Managing
Director: Mr. Divyeshkumar Nareshkumar Gandhi
HK$8,580,000.00
(As
per registry dated 04-06-2015)
|
Name |
|
No.
of shares |
|
Sonu Shailesh MEHTA |
|
8,580,000 ======= |
(As
per registry dated 04-06-2015)
|
Name (Nationality) |
Address |
|
Sonu Shailesh
MEHTA |
M-09, Alzahra Building, Bur Dubai, Dubai,
U.A.E. |
|
Divyeshkumar
Nareshkumar GANDHI |
Room G, 16/F., Luna Court, 55 Kimberley
Road, Tsimshatsui, Kowloon, Hong Kong. |
(As
per registry dated 04-06-2015)
|
Name |
Address |
Co.
No. |
|
Louis
Lai & Luk Co. Secretarial Services Ltd. |
9/F., Surson Commercial Building, 140‑142 Austin Road,
Tsimshatsui, Kowloon, Hong Kong. |
0686503 |
The
subject was incorporated on 4th June, 2010 as a private limited liability company
under the Hong Kong Companies Ordinance.
Initially
the subject was located at 9/F., Surson Commercial Building, 140‑142
Austin Road, Tsimshatsui, Kowloon, Hong Kong where is the operating office of
Louis Lai Co. Secretarial Services Ltd., moved to Unit 10‑P, 1/F.,
Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong
Kong with effect from 21st June, 2010.
It further moved to the present address in November 2012.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds of gemstones.
Employees: 2.
Commodities
Imported: India, Europe, etc.
Markets: Hong Kong, other Asian
countries, etc.
Terms/Sales: CAD,
or as per contracted.
Terms/Buying: L/C,
T/T, D/P.
Issued Share
Capital: HK$8,580,000.00
Profit or Loss: Made small profits in 2013 & 2014.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment: Met
as contracted.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Formerly
Auragem Co. Ltd. was wholly-owned by Atlantic Sensor Ltd. which was a BVI
registered firm. Now, the shareholder
has been changed to Mr. Sonu Shailesh Mehta who is an India merchant.
The
old directors of the subject Nankeen (Nominees) Ltd. and Uni-Quali (Nominees)
Ltd. were nominee firms located at 9/F., Surson Commercial Building, 140-142
Austin Road, Tsimshatsui, Kowloon, Hong Kong where is the operating office of
Louis Lai Co. Secretarial Services Ltd. [Louis Lai]. Louis Lai is the corporate secretary of the
subject.
One
of the directors of the subject is also Mr. Sonu Shailesh Mehta who is an India
passport holder and does not have the right to reside in Hong Kong
permanently. The other director Mr.
Divyeshkumar Nareshkumar Gandhi is a Hong Kong ID holder.
The
subject moved to the present address in November 2012.
The
subject is a diamond and gemstone trader.
It is the supplier, importer and exporter of versatile range of Diamonds
in a wide variety like Rose Cut Diamonds, Rose Cut Heart, Rose Cut Round, Rose
Cut Pears, Rose Cut Oval, Rose Cut Marquise, Fancy Cut and Fancy Colour
diamonds, etc.
Commodities
are chiefly imported from India, Sri Lanka, Thailand, etc. Prime markets are Hong Kong, China, India,
the other Asian countries, etc. Business
is normal. It was able to make small
profits in 2013 and 2014.
The
history of the subject in Hong Kong is just over five years and six
months. Business is chiefly handled by
Mr. Sonu Shailesh Mehta himself.
On
the whole, consider it good for normal business engagements in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
HKD |
1 |
Rs. 8.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
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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 |
|
<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.