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Report No. : |
326782 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
BLUE GEMS LTD. |
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Registered Office : |
Flat 1511, 15/F., Peninsula Square, 18 Sungon Street, Hunghom, Kowloon |
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Country : |
HONG Kong |
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Date of Incorporation : |
06.03.2012 |
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Com. Reg. No.: |
59490630 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Diamond and Gem |
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No of Employees : |
3. (Including associate) |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 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.
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Source
: CIA |
BLUE GEMS
LTD.
ADDRESS: Flat 1511, 15/F., Peninsula
Square, 18 Sungon Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2314 7661, 852-2180
7520
FAX: 852-2314 7811
Managing Director: Mr. Kiran
Champaklal Bhansali
Incorporated on: 6th March, 2012.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Diamond
and Gem Trader.
Employees: 3. (Including associate)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BLUE GEMS
LTD.
Registered Head Office:-
Flat 1511, 15/F., Peninsula Square, 18 Sungon Street, Hunghom, Kowloon,
Hong Kong.
Associated/Affiliated Companies:-
Blue Gems, Hong Kong. (Same
address)
Samkit Diamonds Exporters, India.
59490630
1713631
Managing Director: Mr. Kiran
Champaklal Bhansali
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry
dated 06-03-2014)
|
Name |
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No. of share |
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Kiran Champaklal BHANSALI |
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1 = |
(As per registry
dated 06-03-2014)
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Name (Nationality) |
Address |
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Pareshkumar Himmatlal SHAH |
Flat D, 17/F., Block 3, Victoria Tower, 188 Canton Road, Tsimshatsui,
Kowloon, Hong Kong. |
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Kiran Champaklal BHANSALI |
Flat B, 41/F., Tower 15, Crystalcove, Caribbean Coast, 1 Kin Tung
Road, Tung Chung, Lantau Island, Hong Kong. |
(As per registry
dated 06-03-2014)
|
Name |
Address |
Co. No. |
|
Cbest Solutions Ltd. |
Suite 705, 7/F., Empress Plaza, 17‑19 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong. |
1295959 |
The subject was incorporated on 6th March, 2012 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: Diamond
and Gem Trader.
Lines: All
kinds of diamonds, etc.
Employees: 3. (Including associate)
Commodities Imported: India,
other Asian countries, etc.
Markets: Hong
Kong, China, other Asian countries, Middle East, Europe, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Mortgage or Charge:-
Date: 20-08-2014
Description of
Instrument: Mortgage
Mortgagee: Hang Seng Bank Ltd., Hong Kong.
Profit or Loss: Made
small profits in 2013 & 2014.
Condition: Business keeps on
improving.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank
Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of HK$1.00, Blue Gems Ltd. is
wholly owned by Kiran Champaklal Bhansali who is an India merchant. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
He is one of the directors of the subject. The other director of the subject Mr.
Pareshkumar Himmatlal Shah was appointed on 9th October, 2013.
Business commenced in March 2012, the subject has an associated company
Blue Gems located at its operating address.
The subject and Blue Gems are engaged in the same lines of
business. Both firms are under the same
management.
Blue Gems was established in 1990.
It is engaged in manufacturing, importing, exporting and retailing
polished diamonds in a wide variety of round and fancy diamonds. It is specialized in white, ow, white natts,
ow natts in vs-si and pique quality.
Size ranges from 0.005 to 0.10 carats.
Blue Gems also supplies customers with full-cut diamonds, fancy shapes
particularly tapper, banquettes and princess cut diamonds. According to Blue Gems, it is a consistent
supplier of polished diamonds in different quality and quantities. It is significant for its loose diamonds and
full-cut diamonds.
The subject’s diamonds are chiefly imported from India, and the prime
markets are Hong Kong, Singapore, China, the other Asian countries, the United
States, the Middle East, Europe, South Africa, etc. Business keeps on improving.
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.
The subject’s business is chiefly handled by Mr. Pareshkumar Himmatlal
Shah and Kiran Champaklal Bhansali themselves.
History is just over three years and three months in Hong Kong.
On the whole, consider it good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 63.88 |
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|
1 |
Rs. 98.47 |
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Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
-- |
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.