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Report No. : |
325489 |
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Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERJEWEL (HK) CO. LTD. |
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Registered Office : |
Room 608, 6/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
10.05.1994 |
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Com. Reg. No.: |
18854001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Diamonds and
Jewellery Products, Emerald, Precious Stones. |
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No. of Employees : |
8 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hongkong |
A1 |
A1 |
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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 |
HONGKONG - 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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
INTERJEWEL
(HK) CO. LTD.
ADDRESS: Room 608, 6/F., Heng Ngai
Jewelry Centre, 4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2367
8455
FAX: 852-2366
4177
E-MAIL: info@interjewel.com.hk
Managing Director:
Mr. Pratish Rupen Kothari
Incorporated on: 10th May, 1994.
Organization: Private Limited Company.
Issued Share Capital:
HK$50,000,000.00
Business Category: Jewellery
Trader.
Employees: 8.
Main Dealing Banker: The
Royal Bank of Scotland N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 608, 6/F., Heng Ngai Jewelry Centre, 4 Hok Yuen
Street East, Hunghom, Kowloon, Hong Kong.
Trading as:-
Little Rocks (H.K.) Company, Hong Kong. [BR No. 18854001-001]
Holding Company:-
Interjewel Singapore Pte. Ltd., Singapore.
Associated
Companies:-
Interjewel (Thailand) Co. Ltd., Thailand.
Interjewel Designs, India.
Interjewel Europe NV, Belgium.
Interjewel Pvt. Ltd., India.
Interjewel Shanghai Co. Ltd., China.
Interjewel USA Inc., US.
18854001
0477617
Managing Director:
Mr. Pratish Rupen Kothari
Contact Person: Mr. Sham Kai Ping
HK$50,000,000.00
(As per registry dated
10-05-2015)
|
Name |
|
No. of shares |
|
Interjewel Singapore Pte. Ltd. 38 Beach Road, #29-11 South Beach Tower, Singapore
189767. |
|
25,500,000 |
|
Pratish Rupen KOTHARI |
|
24,500,000 |
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|
|
––––––––– |
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Total: |
50,000,000 ======== |
(As per registry
dated 10-05-2015)
|
Name (Nationality) |
Address |
|
Pratish Rupen KOTHARI |
Unit B, 32/F., Block 6, Harbour Place, 8 Oi King
Street, Hunghom, Kowloon, Hong Kong. |
|
Dipan Jagdish PATEL |
Flat A1, 8/F., Block A, BurlingtonHouse, 92-94 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong. |
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Shashin Suresh MEHTA |
111/19 Lumpini Place Condominium Soi Sribumphen,
Thungmahamek, Sathorn, Bangkok 10120, Thailand. |
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Ketan Suresh MEHTA |
603, K.B.S. Building, 30-38 Mahaesak Soi 3, Bangkok
10500, Thailand. |
(As per registry
dated 10-05-2015)
|
Name |
Address |
Co. No. |
|
Gem Glad Secretaries Ltd. |
Room 1502, 15/F., 101 King’s Road, North Point,
Hong Kong. |
1001061 |
The subject was
incorporated on 10th May, 1994 as a private limited liability company under the
Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Diamond World Holdings Ltd., name
changed to the present style on 24th August, 2007.
Formerly the subject
was located at Unit E1, 2/F., Kaiser Estate, Phase 1, 41 Man Yue Street,
Hunghom, Kowloon, Hong Kong, moved to the present address with effect from 4th
June, 2010.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products, emerald, precious stones
Employees: 8.
Commodities Imported: India,
Belgium, other European countries, etc.
Markets: Hong
Kong, Japan, other Asian countries, Belgium, US, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital:
HK$50,000,000.00
Mortgage or Charge:
(See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in an active and
satisfactory condition.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Bankers:-
The Royal Bank of
Scotland N.V., Hong Kong Branch.
Antwerpse DiamantBank
NV (also known as Antwerp Diamond Bank NV), Hong Kong Branch.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Having issued 50
million ordinary shares, Interjewel (HK) Co. Ltd. is jointly owned by
Interjewel Singapore Pte. Ltd. which is a Singapore-based firm holding 51%, and
Mr. Pratish Rupen Kothari who is an Indian holding 49%.
The subject is a
diamond importer, exporter and wholesaler.
It has had an associated company in India known as Interjewel Pvt. Ltd.
[Interjewel]. Besides the subject,
Interjewel Pratish Rupen Kothari is one of the CEOs and founders of
Interjewel. Now, he is residing in Hong
Kong. He is a Hong Kong ID Card holder
and has got the right to reside in Hong Kong permanently. He is also managing director of the subject.
In 2015, two more
directors were appointed.
The subject is
trading in carat diamonds, loose diamonds, colour and white diamonds,
carat-size diamonds, diamond rings, etc.
It also offers customers with all kinds of diamond manufacturing
service. Most of its products have been
certified by the GIA and the IGI.
Interjewel was
established in 1970 and was able to established in-house manufacturing polished
diamonds by 1975.
Interjewel operates
three cutting and polishing facilities respectively in Mumbai, Surat, Navsari
and Ahmedabad.
Interjewel is one of
the few companies with the honour of being supplied with rough diamonds from
the leading mines of the world.
Interjewel is
specialised in polished diamonds in varied sizes, shapes, colours and
clarity. All diamond over 0.30 points
and SI2 purity are sent to reputed Grading Laboratories for grading and
certification. It routinely has its
diamonds certified by the GIA and the IGI.
Interjewel serves a
global customer-base which includes customers in the United States, the United
Kingdom, the Middle East, Asia, Australia and South Africa. It also has a significant presence in the
Indian market where the focus is on selling polished to mostly independent
jewellers and small chains.
Interjewel Shanghai
Co. Ltd., a China-registered company which is one of the members of the
Interjewel Group, is a member of Shanghai Diamond Exchange.
Overall business of
the Interjewel Group is active and steady.
Business is lucrative.
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-E20.
Besides, it is going
to take part in “HKTDC Hong Kong International Jewellery Show 2016” which will
be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 3rd to 7th March, 2016.
Its booth No. is CEC 3F-F09.
The business of the
subject is chiefly handled by Mr. Kothari Pratish Rupen. The contact person is Mr. Sham Kai Ping who
is a Hongkongnese.
The subject operates
from a self-owned office in Hong Kong.
On the whole, since
the history of the subject in Hong Kong is over twenty-one years, consider it
good for normal business engagements.
Property information
of the company:-
Property Location: Workshop
Unit No. 8 on 6/F., Heng Ngai Jewelry Centre,
4 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Interjewel
(HK) Co. Ltd.
Date of Purchase:
n.a.
Purchased Price:
n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
19-08-2010 |
- |
The Royal Bank of Scotland N.V., Hong Kong Branch. |
Mortgage to secure general banking facilities |
|
Date |
Description
of Instrument |
Mortgagee |
|
23-01-2002 |
Debenture |
Antwerpse DiamantBank NV (also known as Antwerp Diamond
Bank NV), Hong Kong Branch. |
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28-01-2002 |
Debenture |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland
N.V.] |
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19-08-2010 |
Mortgage |
The Royal Bank of Scotland N.V., Hong Kong Branch. |
|
16-02-2015 |
Debenture |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
NIT |
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.