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Report No. : |
331139 |
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Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
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Name : |
R.A. GEM CENTRE LTD. |
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Registered Office : |
Room 912-913, 9/F., Harbour Centre Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
21790383 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer, Wholesaler and Exporter of All kinds of Diamonds. |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
|
Risk Category |
ECGC
Classification |
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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 |
R.A. GEM CENTRE LTD.
ADDRESS: Room 912-913, 9/F.,
Harbour Centre Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong
Kong.
PHONE: 852-2721
8360, 2774 8000, 2723 8587
FAX: 852-2311 9377
E-MAIL: info@ragemcentre.com
sales@ragemcentre.com
marketing@ragemcentre.com
MANAGEMENT:
Managing Director: Mr. Nilesh
Vinodrai Shah
Establishment: 1989.
Incorporated on: 5th June, 1998.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Diamond
Trader.
Employees: 45.
Main Dealing Banker: The
Hong Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
R.A. GEM CENTRE LTD.
Registered Head
Office:-
Room 912-913, 9/F., Harbour Centre Tower 1, 1 Hok Cheung Street,
Hunghom, Kowloon, Hong Kong.
Holding Company:-
S.Vinodkumar International Pte. Ltd., Singapore.
Associated/Affiliated
Companies:-
S.Vinodkumar Group of Companies
Bharat Trading Inc., Japan.
Gemini Diamonds Inc., USA.
IDI Jewels Inc., USA.
Indian Diamond Imports Inc., USA.
Indigo Jewellery (Belgium) BVBA, Belgium.
Indigo Jewellery (India) Manufacturing Pvt. Ltd., India.
Indigo Jewellery Pvt. Ltd., India.
Indigo Jewelry Inc., US.
Indigo Jewels Ltd., Hong Kong.
S.V. Gems N.V., Belgium.
S.V.K. Jewels Pvt. Ltd., India.
S.Vinodkumar (Europe) Sales BVBA, Belgium.
S.Vinodkumar (USA) Inc., US.
S.Vinodkumar Diamonds Pvt. Ltd., India.
S.Vinodkumar DMCC, UAE.
S.Vinodkumar International (USA) Inc., US.
S.Vinodkumar Japan, Japan.
S.Vinodkumar Sales LLP, India.
21790383
0646505
Managing Director: Mr. Nilesh Vinodrai Shah
Contact Person: Mr. Chetan Shah
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry dated 05-06-2014)
|
Name |
|
No. of shares |
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S.Vinodkumar International Pte. Ltd. Six Battery Road # 10-01, 049 909 Singapore. |
|
100 === |
(As per registry dated 05-06-2014)
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Name (Nationality) |
Address |
|
Nilesh Vinodrai SHAH |
Flat H, 8/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
|
Ketul Kumar Chandrakant SHAH |
Room 912-913, 9/F., Harbour Centre Tower 1, 1 Hok Cheung Street, Hunghom,
Kowloon, Hong Kong. |
SECRETARY: (As per registry dated
05-06-2014)
|
Name |
Address |
Co. No. |
|
Hojin SEC Ltd. |
Room 301, 3/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong
Kong. |
0612527 |
The subject was originally established in 1989 under the name of R.A.
Gem Centre. Re-organized and
incorporated on 5th June, 1998 as a private limited liability company under the
Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1201, 12/F., Chevalier House,
45‑51 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to
Unit 30‑31, 4/F., Block B, Focal Industrial Centre, 21 Man Lok
Street, Hunghom, Kowloon, Hong Kong in May 2003, and further to the present
address in March 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Importer, Wholesaler and Exporter.
Lines: All
kinds of diamonds.
Employees: 45.
Materials/Commodities: Imported
from Europe, South Africa.
Markets: Southeast
Asia, China, US, Europe.
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: L/C, advanced T/T and D/P.
MEMBERSHIP: Hong Kong
Jewelry Manufacturers’ Association, Hong Kong.
Shanghai Diamond
Exchange, China.
The Indian Chamber
of Commerce Hong Kong, Hong Kong.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Mortgage or Charge: (See attachment)
Indebtedness: HK$15,335,493.47
(Total amount outstanding on all mortgages and charges as per last Annual
Return dated 05-06-2014)
Profit or Loss: Business
is profitable.
Condition: Keeping
in an active state.
Facilities: Making
active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
The Royal Bank of Scotland N.V.,
Hong Kong Branch.
Antwerpse DiamantBank NV (also known as Antwerp
Diamond Bank NV), Hong Kong Branch.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
ABN AMRO Bank N.V., Hong Kong Branch.
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing: Very Good.
R.A. Gem Centre Ltd. is a private limited company incorporated in June
1998. It was jointly owned by two
Indians: Mr. Ketan Kantilal Shah and Ms. Abhaykumar Sumatilal Shah. Now, it has become a wholly-owned subsidiary
of S.Vinodkumar International Pte. Ltd. which is a Singapore‑based firm. The directors of the subject are Nilesh
Vinodrai Shah and Ketul Kumar Chandrakant Shah.
The two Shahs belong to the same family.
The subject is a loose diamond importer and exporter. According to the subject, it is one of the
largest suppliers of diamonds below 1 carat in the Asia Pacific Region and
specialized in certified stones from 0.30 pts to 5 carats and is also fully
stocked in a wider and more comprehensive range of diamonds in all sizes and
colours giving all its customers a complete one stop shop solution. It is also trading in GIA certified stones.
For three consecutive years since 1988, the subject had been awarded the
“Second Highest Importer of Diamonds” (Southeast Asia region) by the Indian
Jewelry Council. From 2002 to 2009, the
subject had been conferred the title of “Best Supporter of Loose Diamond
Supplier in Hong Kong”.
The Shahs established R.A. Gem Centre, which was the subject’s
predecessor, in 1989. Now, the subject
is engaged in manufacturing, wholesaling and exporting loose diamonds, brownish
yellow diamonds, etc. Imported from
India and Belgium, most of the diamonds have been certified by GIA, HRD and
IGI.
The subject has been serving the jewellery manufacturing customers for
over 20 years. It is also servicing more
than 300 customers, both jewellery manufacturers and retailers.
The subject is one of the members of S.Vinodkumar Group of Companies
[Group] of India. It is the pioneer
trading company catering the diamond market of Hong Kong as well as the other
Asian countries. Its products are also
marketed in Hong Kong.
Indigo Jewellery is the jewellery company of S V Group. It is also an associated company of
S.Vinodkumar Diamonds Pvt. Ltd. Indigo
Jewellery is a leading manufacturer and distributor of polished diamonds and
fine diamond jewellery. Indigo Jewellery
has five companies with a total employees of 700. Its jewellery factory covers a site of 35,000
sq.ft.
In April 2003, the subject moved to Hunghom where is the jewellery
district of Hong Kong. The subject’s floor
area including a workshop covers nearly 14,000 sq.ft. It has employed more than 45 staff. This office is fully equipped with fuller and
wider range of diamonds in all colours and sizes, providing a one‑stop
shop for all walks of customers. Of the 45
staff members, 10 of them are sales executives.
The latest development of the Group is the penetration of the China
market. Its first branch office was set
up in Shanghai, China.
Besides the subject in Hong Kong, the Group has established several
branch offices in the other major cities of the world such as Tokyo, Mumbai,
New York, Dubai, Los Angles and Antwerp.
The corporate office is in Mumbai, India while its factory is in Shyam
Marble Lane, Katargam Road, Surat, India.
The subject’s major markets are China, Japan, Taiwan, South Korea, the
Philippines and Hong Kong.
Rough stones used by the subject are sourced from Belgium. Then they are shipped to the three production
plants located in India for cutting and polishing. Sizes of polished stones range from 0.005
points to 3 carats. Almost all colours
are available. Stones can be provided in
any shape that customers would request.
The subject is also specialized in providing certified stones from sizes
0.30 to 5.00 carats. Its products are
provided by the Group’s factory in Surat, India.
The subject gets its supply of smaller sizes of medium to commercial
make from manufacturers in India mainly, including top exporter S. Vinod Kumar
& Co. in Mumbai. Larger sizes and
stones of finer make are imported from Antwerp in Belgium and New York.
The annual sales turnover of the Group is very significant.
The subject operates from its own office in Hong Kong. It is fully supported by the Group and the
Shah family of India.
The contact person of the subject Chetan Shah, who is the Sales Manager,
is also a family member. He can be
reached at his Hong Kong mobile phone number 852-9278 4780.
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 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 5-B02.
The history of the subject in Hong Kong is over seventeen years.
The subject operates from its own office in Hong Kong.
On the whole, consider the subject good for normal business engagements.
Property information of the company:-
Property Location: Workshop
Unit No. 12 & 13 on 9/F.. Harbour Centre Tower 1,
1 Hok Cheung Street, Kowloon, Hong Kong.
Owner: R.A. Gem Centre Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
13-06-2008 |
- |
Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV),
Hong Kong Branch. |
Mortgage to secure general banking facilities |
|
Date |
Description of
Instrument |
Mortgagee |
|
15-10-2003 |
Debenture |
Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV),
Hong Kong Branch. |
|
19-03-2012 |
Floating Charge over Assets |
ABN AMRO Bank N.V., Hong Kong Branch. |
|
19-03-2015 |
Mortgage |
ABN AMRO Bank N.V., Hong Kong Branch. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.47 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.