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Report No. : |
330123 |
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Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
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Name : |
RGI LTD. |
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Registered Office : |
Room 1107, 11/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
08.12.2009 |
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Com. Reg. No.: |
51520528 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF EMERALDS, PRECIOUS STONES |
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No. of Employees : |
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) |
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Hong Kong |
A1 |
A1 |
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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 |
RGI LTD.
ADDRESS: Room 1107, 11/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2702 9694
FAX: 852-2702 9729
E-MAIL: azim@realgemsinc.com,
gshah@realgemsinc.com
MANAGEMENT:
Managing Director: Mr. Gaurav
Shah
Incorporated on: 8th December, 2009.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
RGI LTD.
Registered Head
Office:-
Room 1107, 11/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Company:-
Real Gems Inc., USA.
51520528
1399286
Managing Director: Mr. Gaurav
Shah
Contact Person: Mr. Gaurav Shah
HK$10,000.00
(As per registry dated 08-12-2014)
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Name |
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No. of shares |
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Gaurav Shah |
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10,000 ===== |
(As per registry dated 08-12-2014)
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Name (Nationality) |
Address |
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Gaurav SHAH |
Apartment 22F, 26 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong. |
(As per registry dated 08-12-2014)
|
Name |
Address |
Co. No. |
|
Louis Lai & Luk Company Secretarial Services Ltd. |
9/F., Surson Commercial Building, |
0686503 |
The subject was incorporated on 8th December, 2009 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.
Activities: Importer,
Exporter and Wholesaler.
Lines: Emeralds,
precious stones.
Brand Name: RGI.
Employees: 2.
Commodities Imported: India, other
Asian countries,.
Markets: Hong
Kong, China, other Asian countries, North America.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital:
HK$10,000.00
Profit or Loss: Made
small profits in past two years.
Condition: Business
is normal.
Facilities: Making
use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, RGI Ltd. formerly was
wholly owned by Mr. Deepak Babulal Jogani.
In late 2012, Deepak Babulal Jogani transferred all his shares to Mr.
Gaurav Shah who is the current shareholder.
Shah is a Hong Kong ID holder and has got the right to reside in Hong
Kong permanently. He is also the only
director of the subject.
Incorporated in December 2009, the subject is a precious stone
trader. It has had an associated company
Real Gems Inc. [Real Gems] which is in the United States. The name RGI comes from the initials of Real
Gems Inc.
Founded in 1975 by Dr. Rajnikant Shah and Mr. Kumar Pal Shah, Real Gems
has become the leading source for emeralds.
It has pioneered the emerald rough business and was one of the first to
introduce calibrated stones to the New York area. After growing from a two-person business,
Real Gems currently operates in over five countries.
Today, although Real Gems possesses the ability to supply any shape,
size or volume to almost anywhere in the world, it continues to hold firmly to
the same family trust and reputation that helped form the company. It believes that the growth of its business
depends on the relationships and trust it has established over the past years.
Real Gems has established itself as a leading supplier of rough emeralds
that are sourced from all the major mining centres of the world. As one of the first companies to introduce
Brazilian rough emeralds for calibration to India, Real Gems is a pioneer in
the colour stone industry that has developed strong relationships with mining
companies in Brazil, Colombia and Africa.
These relationships and its over 25 years of experience ensure the
quality of its product and the trust of its name.
In order to penetrate the international market further, Real Gems 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 Diamond, Gem & Pearl Show 2016”
which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the
period of 1st to 5th March, 2016. Its
booth No. is AWE 10-C13 and AWE 11-A05.
The subject has set up a representative office in Shenzhen Special
Economic Zone, China.
The contact person of the subject is also Mr. Gaurav Shah. Its business is normal. History in Hong Kong is just over four years
and seven months.
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.63.57 |
|
|
1 |
Rs.98.22 |
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Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.