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Report No. : |
351301 |
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Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GREEN GEMS |
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Registered Office : |
Flat B, 14/F., Hody Commercial Building, 6-6A Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
06.10.1984 |
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Com. Reg. No.: |
09262532-000-10 |
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Legal Form : |
Partnership |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF FINE JEWELLERY, GEMSTONES,
JADE, EMERALD, RUBY, SAPPHIRE,
DIAMONDS, TOURMALINE, AQUAMARINE, CALIBRATED STONES. |
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No. of Employees : |
4. (Including affiliates) |
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
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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 |
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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 |
GREEN GEMS
ADDRESS: Flat
B, 14/F., Hody Commercial Building, 6-6A Hart Avenue, Tsimshatsui, Kowloon,
Hong
Kong.
PHONE: 852-2375
0093, 2370 0030
FAX: 852-2730
2300
E-MAIL: surana@netvigator.com
Manager: Mr. Prafful Surana
Establishment: 6th October, 1984.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Jewellery
Trader.
Annual Turnover: HK$50~90 million.
Employees: 4.
(Including affiliates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat B, 14/F., Hody Commercial Building, 6-6A Hart
Avenue, Tsimshatsui, Kowloon, Hong Kong.
Headquarters:-
Paras Gottam & Co.
535, Tiwari Ji Ka Bagh, Acharya Kriplani Marg Adarsh
Nagar, Jaipur-302004, India.
[Tel: 91-141-2606098, 2600328 Fax: 91-141-2603790
E-mail: info@pgjpr.com]
Associated/Affiliated Companies:-
Aarya Creation, Hong Kong. (Same address)
Gemdiam,
Hong Kong. (Same address)
Gemstar, India.
Green Gems Japan Co. Ltd., Japan.
Napra
Gems BV BA, Belgium.
Paras Gottam & Co., India.
09262532-000-10
Manager: Mr. Prafful Surana
Name: Mr. Prafful
SURANA
Residential Address: Flat
A2, 13/F., Hankow Centre, 41-51 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Sandeep
SURANA
Residential Address: Flat
7, 5/F., 5-7 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Arun
JAIN
Residential Address: Room
F, 12/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was
established on 6th October, 1984 as a sole proprietorship concern owned by Mr.
Prafful Surana under the Hong Kong Business Registration Regulations. It became a partnership when Mr. Sandeep
Surana joined in as a partner on 1st April, 2004. On 1st April, 2010, Mr. Arun Jain joined in
as a partner too.
At the very
beginning, the subject was located at Flat A2, 13/F., Hankow Centre, 41-51
Peking Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 8/F., Block B,
Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong in July
1993, to Flat B, 8/F., Houng Sun Building, 45‑47 Carnarvon Road,
Tsimshatsui, Kowloon, Hong Kong in November 1998, to Flat 7, 5/F., 5-7 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong in October 2002, and further
to the present address in July 2010.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Fine jewellery,
gemstones, jade, emerald, ruby,
sapphire, diamonds, tourmaline,
aquamarine, calibrated stones.
Employees: 4.
(Including affiliates)
Commodities Imported: Imported
from India, Zambia, Colombia and other African countries.
Markets: Japan,
Europe, US and other Asian countries.
Annual Turnover: HK$50~90
million.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: Various terms.
Capital: Not
disclosed.
Profit & Loss: Made
small profits in the past years.
Condition: Keeping in an active
condition.
Facilities: Making active use of general
banking facilities.
Payment: Met as contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Green Gems is a
partnership jointly owned by Mr. Prafful Surana and Mr. Sandeep Surana,
both of whom are Indian. They are Hong Kong
ID Card holders and have got the right to reside in Hong Kong permanently. The
two Suranas belong to the same family.
On 1st April, 2010, Mr. Arun Jain joined in as the third partner.
Business commenced in October 1984, the subject carries
the following commodities: Emerald, Ruby, Sapphire, Diamonds, Tourmaline,
Aquamarine, Calibrated Stones, etc.
The subject is trading in the following products:-
· Antique Emeral;
· Drop-Cut Emeralds;
· Emerald Diamond Jewellery Set;
· Emerald Stones;
· Natural Rubies;
· Natural Sapphires;
· Ruby Rings;
· Spinel Necklaces, Tanzanite Necklaces, Diamond Emerald Necklaces;
· Ruby Stones; &
· Sapphire Jewellery Set.
The subject’s
headquarters are in India which was established in 1967. It is
a leading manufacturer, importer and exporter of precious and semi-precious
stones with vast global net work.
The Indian firm has been awarded a certificate for the outstanding
export performance of cut and polished stones by The export Promotion Council
of India for three consecutively years.
It is also a leading supplier of emeralds from Zambia, Columbia, Brazil,
Pakistan and Afghanistan. Processed and
polished diamonds, gemstones and other products are exported to Japan, Europe,
the United States, Taiwan, and other Asian countries.
Besides the subject,
the Indian headquarters has set up firms in Japan and Belgium.
The annual sales
turnover of the subject and its associate ranges from HK$ HK$50 to 90 million.
Overall business is satisfactory.
Regular suppliers and customers have been maintained.
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 has had
an associated company Gemdiam located at the same address. Established on 11th July, 2001, Gemdiam is a
partnership jointly owned by three Indian, namely, Mr. Arun Jain, Mr. Geb. Shah
Sweta Jain and Mr. Sweta Jain. Gemdiam
is also a diamond and gemstone trader.
The subject’s history
in Hong Kong is over 31 years and a month.
Contact person is Mr. Prafful Surana.
On the whole, in view
of the subject’s background and history, consider it good for normal business
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.38 |
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|
1 |
Rs.100.45 |
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Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.