MIRA INFORM REPORT
|
Report No. : |
306259 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GEMGOLD INT'L |
|
|
|
|
Registered Office : |
Rm. 1102, 11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha Tsui, KL |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
19.12.2007 |
|
|
|
|
Com. Reg. No.: |
38763117 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Trading of diamonds |
|
|
|
|
No of Employees : |
Not Available |
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 : |
Moderate |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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% of total system deposits in Hong Kong by the end of 2013. 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact
Points
|
Company Name: |
Gemgold Int'l |
|
Supplied Name: |
Gemgold International |
|
Trading Address: |
Rm. 1102, 11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha Tsui, KL,
Hong Kong |
|
Supplied Address: |
11/F 1102 Multifield Plaza 3-7-A Prat Avenue TST Kun |
Note: The exact name
and address are as above.
Credit
Summary
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm. 1102, 11F, Multifield Plaza, 3-7A Prat
Avenue, Tsim Sha Tsui, KL, Hong Kong |
|
Telephone Number: |
+852-2367-2833 |
|
Fax Number: |
+852-2301-2733 |
|
Date of Registration: |
2007-12-19 |
|
Business Registration No.: |
38763117 |
|
Registered Capital: |
N/A |
|
Legal Form: |
Sole Proprietorship |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise
worked, but not mounted or set (cm) |
|
Principal Activities: |
Trading of diamonds, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
information, either.
History
Subject was incorporated on 2007-12-19 with
the registered number 38763117 as Private Limited Liability Company in Hong
Kong.
Corporate
Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Owner
|
Name: |
Naidu, Shridhar Venkataiah |
|
Address: |
3F Front Blcok, 25 Ocean View Court, Chatham
Rd., Tsim Sha Tsui, KL, Hong Kong |
|
ID Number: |
P657665A |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
Rm. 1102, 11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha Tsui, KL, Hong
Kong |
Premises
Information
Office address:
|
Address: |
Office Unit 02 On 11th Floor Multifield
Plaza No.3 Prat Avenue Kowloon |
|
Owners: |
Cheung Wah Dak Cheung Kwok Kwong Peter |
|
Memorial Number: |
09101502650115 ASSIGNMENT |
|
Date of Instrument: |
2009-10-8 |
|
Date of Registration: |
2009-10-15 |
|
Consideration Value: |
HKD 2,780,000.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
13050901550122 |
|
Date of Instrument: |
2013-4-11 |
|
Date of Registration: |
2013-5-9 |
|
Nature: |
Death Certificate |
|
In Favor of: |
-- |
|
Consideration: |
-- |
|
2 |
|
|
Memorial No.: |
09082602420018 |
|
Date of Instrument: |
2009-8-6 |
|
Date of Registration: |
2009-8-26 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Cheung Wah Dak Cheung Kwok Kwong Peter |
|
Consideration: |
HKD 2,780,000.00 |
|
3 |
|
|
Memorial No.: |
UB8862316 |
|
Date of Instrument: |
2002-3-20 |
|
Date of Registration: |
2003-1-29 |
|
Nature: |
Certificate Of Exemption From
Estate Duty |
|
In Favor of: |
-- |
|
Consideration: |
-- |
Production
Information
l Subject is engaged in trading of diamonds, etc. without any production
activities.
l It is introduced that subject has corporate factories in India for
production.
Purchase
Information
l Subject mainly purchases its products from India.
Sales
Information
l Subject is engaged in sale of diamonds, etc.
l The major products of the subject are fancy diamonds (like pink, blue,
yellow, canary, golden, green, grey, etc.) and jewelry (like watches, etc.)
l The major sales regions of the subject are domestic market, Japan, Korea,
Southeast Asia, etc.
l Subject’s major customers are manufacturers of jewelry and jewelry shops,
etc.
Settlements
Purchase
1.
Domestic Purchase
Subject has little domestic purchase.
2.
Import
|
Products |
Diamonds, etc. |
|
Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
|
Product |
Diamonds, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Diamonds, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the
only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information; from
other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could
not obtain the relevant information, either.
Public
Mortgage
Record
No mortgage record of the subject was found.
Lawsuits
Up to now, no present or latent
litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Mr. Naidu |
|
Department: |
Sales Department |
Industry
Information
66729--Diamonds,
non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
96,110 |
728,817 |
662,210 |
4,475,744 |
|
Armenia |
-- |
-- |
461 |
1,049 |
|
Australia |
1,756 |
23,658 |
3,733 |
54,816 |
|
Belgium |
84,515 |
1,239,263 |
423,171 |
6,622,381 |
|
Canada |
476 |
2,771 |
2,771 |
48,195 |
|
Switzerland |
8,077 |
206,582 |
32,377 |
858,188 |
|
Germany |
709 |
2,321 |
12,087 |
20,158 |
|
Britain |
1,277 |
88,340 |
9,442 |
386,120 |
|
Israel |
65,772 |
1,433,655 |
360,130 |
8,238,886 |
|
India |
981,536 |
4,727,211 |
5,338,417 |
26,201,042 |
|
Malaysia |
3,860 |
18,103 |
19,791 |
137,275 |
|
USA |
129,016 |
1,115,405 |
703,068 |
6,169,441 |
|
The Mainland of China |
114,204 |
798,063 |
516,495 |
3,689,202 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
53 |
749 |
|
Israel |
-- |
-- |
50 |
24,803 |
|
-- |
-- |
3 |
116 |
|
|
Singapore |
-- |
-- |
17 |
208 |
|
Belgium |
13 |
4,441 |
249 |
67,929 |
|
Thailand |
-- |
-- |
251 |
732 |
|
USA |
33 |
924 |
465 |
35,419 |
|
The Mainland of China |
157 |
184 |
2,711 |
8,359 |
External Trade
Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change
of Total exports |
Merchandise trade
balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: Rm. 1102, 11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha
Tsui, KL, Hong Kong
11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha Tsui, KL, Hong Kong
Rm. 1102, 11F, Multifield Plaza, 3-7A Prat Avenue, Tsim Sha Tsui, KL, Hong
Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.14 |
|
|
1 |
Rs. 94.78 |
|
Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.