MIRA INFORM REPORT

 

 

Report No. :

329358

Report Date :

25.06.2015

           

IDENTIFICATION DETAILS

 

Name :

STARGEMS (HK) LIMITED

 

 

Registered Office :

1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

07.04.2008

 

 

Com. Reg. No.:

1223841

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in trading of gems and jewelry

 

 

No. of Employee :

About 5

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Hong Kong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

Contact Points

 

Company Name:

Stargems (HK) Limited

Supplied Name:

STARGEMS (HK) LTD

Trading Address:

1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

Supplied Address:

1007, HART AVENUE PLAZA, 5-9, HART AVENUE, TIM SHA TSUI, KOWLOON, HONG KONG.

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

STARGEMS (HK) LIMITED

Registered Address:

1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

Telephone Number:

+852-2724-8488/6318-9990

Fax Number:

+852-2724-3988

Date of Registration:

2008-4-7

Registered Number:

1223841

Business Registration No.:

53467140

Registered Capital:

HKD 38,487,500 (USD 4,964,887.5)

(As of 2015.06, 1 HKD = 0.129 USD)

Paid-up Capital:

HKD 38,487,500 (USD 4,964,887.5) = 38,487,500  Shares @ HKD 1

Legal Form:

Private Limited Liability Company

SITC Code:

66731--Precious stones and semi-precious stones, unworked or simply sawn or roughly shaped (-)

Principal Activities:

Trading of gems and jewelry

Staff:

About 5 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-4-7

History

 

Subject was incorporated on 2008-4-7 with the registered number 1223841 as Private Limited Liability Company in Hong Kong.

 

Change of Name:

 

Date

Change

2011-8-19

Stargems (HK) Limited

2010-12-23

Sterling Star (HK) Limited

2008-4-7

Whiteland Consultants Limited

 

 

Change of Capital:

 

Particulars of the increase are as follows:

 

Date of Resolution

Registered Capital

Amount of Additional Capital

New Amount of Total Registered Capital

2014-7-3

35,000,000

3,487,500

38,487,500

 

The additional Capital is divided as follows:

Class of Shares

Number of Shares

Nominal Value per Share

Ordinary

3,487,500

1

 

 

Corporate Structure

 

Parent Company

 

Name:

Stargems Holding Limited

Address:

17/F., Hing Yip Commercial Centre, 272-284 Des Voeux Road Central, Hong Kong

Date of Registration:

2011-9-7

Registered Number:

1662909

Business Registration No.:

58980204

 

Related Companies

 

1

Name:

Stargems BVBA

Address:

Hoveniersstraat 30 Bureel 334, Antwerp 2018, Belgium

Telephone Number:

+323-233-6804

Fax Number:

+323-233-4450

2

Name:

Stargems Exports Pvt Ltd

Address:

Bharat Diamond Bourse, DW 5011/12, BKC, Mumbai, India

Telephone Number:

+91-22-402-32270

Fax Number:

+91-22-267-54570

3

Name:

Stargems Inc.

Address:

245 East 58th St., Suite 10D, New York NY 10022

Telephone Number:

+1-646-250-4562

 

 

Shareholders

 

Name

Subscription Shares

Proportion of Investment (%)

Stargems Holding Limited

38,487,500

100%

Total

38,487,500

100%

 

Major Shareholder Information:

Name:

Stargems Holding Limited

Registered Address:

17/F., Hing Yip Commercial Centre, 272-284 Des Voeux Road Central, Hong Kong

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

1

Name:

Javeri Bhavesh Deepak

Registered Address:

5 Navyug Niketan Teen Bhatti, 185 Walkeshwar Road, Mumbai MS 400 006, India

Position:

Director

Passport Number:

Z1952387

Issuing Country:

India

2

Name:

Javeri Karan

Address:

506, Al Sharhan Building, Rigga Road, Deira, Dubai, U.A.E.

Position:

Director

Passport Number:

EH537035

Issuing Country:

Belgium

3

Name:

Akin Professionals Limited

Address:

20/F, Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong

Position:

Corporate Secretary

Registered Number:

1273165

E-mail:

accounts@akincpa.com.hk

 

Personnel Structure

 

Total Employees

About 5 Employees

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

Rm. 1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

 

Premises Information

 

Office address:

Address:

Rm. 1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

Owners:

Resplendent Investment Company Limited

Memorial Number:

UB4912226

Remark: Deed of partition and grant with pl

Date of Instrument:

1991-6-15

Date of Registration:

1991-7-26

 

History of Premises Owners’

 

1

Memorial No.:

UB5544624

Date of Instrument:

1993-1-5

Date of Registration:

1993-1-27

Nature:

Declaration of john ho as to loss of title deeds

2

Memorial No.:

UB5331445

Date of Instrument:

1992-6-8

Date of Registration:

1992-7-3

Nature:

No-objection Letter Re Kil 10579 Rp

3

Memorial No.:

UB5331444

Date of Instrument:

1992-6-8

Date of Registration:

1992-7-3

Nature:

No-objection Letter Re Kil 10524 Rp

 

Production Information

 

Subject is a trader of gems and jewelry, etc without any production activities.

 

Purchase Information

 

It is introduced that subject imports its products from factories of its group in India and Belgium, etc.

 

Sales Information

 

The subject is mainly engaged in sales of gems and jewelry, etc.

It is introduced that subject is selling many gem stones, such as polished diamonds, green tourmaline, blue tourmaline, bi-colour tourmaline, aquamarine, alexandrite, sphalarite, amethyst, citrine, and blue zircon, etc.

It is introduced that subject’s selling territory includes Hong Kong, Taiwan, Mainland China, Japan, and other Asian countries, etc.

Subject’s group has sales offices in Southeast Asia, Europe, etc.

It is introduced that subject’s major customers are manufacturers and designers of jewelry and etc.

 

 

Settlements

 

Purchase

 

Domestic Purchase

 

Subject has little domestic purchase.

 

Import

Products

Gem stones and jewellery

Payment Terms

T/T, Cash and etc.

 

Sales

 

Domestic Markets

Product

Gem stones and jewellery

Selling Terms

T/T, Cash and etc.

 

Export

Product

Gem stones and jewellery

Selling Terms

T/T, Cash and 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 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

Department:

Sales Department

 

 

Industry Information

 

66731--Precious stones and semi-precious stones, unworked or simply sawn or roughly shaped (-)

Unit: HKD/000

 

2014.12

2014.01~2014.12

 

Quantity

Value

Quantity

Value

Imports

Afghanistan

--

10,242

--

11,262

Argentina

--

3,442

--

9,268

Brazil

--

4,147

--

23,409

Australia

--

1,256

--

1,748

Germany

--

3,036

--

8,601

India

--

8,827

--

40,544

Pakistan

--

5,734

--

24,986

Switzerland

--

7,561

--

8,177

The Mainland of China

--

889

--

20,914

Exports

India

--

36,042

--

222,988

Thailand

--

1,011

--

12,709

Italy

--

549

--

6,645

Germany

--

945

--

4,462

USA

--

8,392

--

16,278

Switzerland

--

3,719

--

4,429

The Mainland of China

--

17,766

--

95,892

 

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

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

2014

4,219,046

55,283

3,617,468

3,672,751

+3.2

-546,295

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

2014.07

368,293

5,120

321,040

326,160

+6.8

-42,132

2014.08

358,750

5,289

321,937

327,225

+6.4

-31,525

2014.09

382,355

4,153

327,833

331,986

+4.5

-50,369

2014.10

381,569

4,392

327,335

331,727

+2.7

-49,842

2014.11

378,946

4,701

322,082

326,783

+0.4

-52,163

2014.12

372,007

4,050

308,705

312,755

+0.6

-59,253

 

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

 

Attachment

 

Address: 1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

 

Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

截图00

 

1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

IMG_3

 

1007 Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui, Kowloon, Hong Kong

IMG_4

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.66

UK Pound

1

Rs.100.50

Euro

1

Rs.71.31

 

 

INFORMATION DETAILS

 

Analysis Done by :

SAN

 

 

Report Prepared by :

TPT

 

               

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.