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MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KGK DIAMONDS (HK)
LTD. |
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Registered Office : |
14/F., Chevalier House, |
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Country : |
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Date of Incorporation : |
27.10.2000 |
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Com. Reg. No.: |
31329946 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer and Exporter of all kinds of diamonds. |
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 : |
Regular |
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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, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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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 |
Company
name
KGK DIAMONDS
(HK) LTD.
company
address
14/F., Chevalier House,
PHONE: 2723 9828, 2733 0700
FAX: 2739 7584
E-MAIL: kgk.hk@kgkmail.com
MANAGEMENT
Managing Director: Mr. Sanjay
Navrattan Kothari
SUMMARY
Incorporated on: 27th
October, 2000.
Organization: Private
Limited Company.
Capital: Nominal: HK$90,000,000.00
Issued: HK$89,700,002.00
Business Category: Diamond Trader.
Employees:
30. (Including affiliates in
Main Dealing Banker: The Royal Bank of
Banking Relation: Satisfactory.
company address
Registered Head
Office:-
14/F., Chevalier House,
KGK Jewellery Manufacturing Ltd.
Panyu,
[Tel: (86-20) 3480 6744, 3999
0700
Fax: (86-20) 3480 6749, 3480
6759
E-mail: jewchina@kgkgroup.com
Holding Company:-
United Pacific Excel Ltd.,
Affiliated
Companies:-
KGK Group of Companies
K.G.K. Diamonds B.V.B.A.,
KGK Creation Guangzhou Ltd.,
KGK Creations (
KGK Creations Pvt. Ltd.,
KGK Diamond Israel Ltd.,
KGK Diamonds & Jewellery LLC, UAE.
KGK Diamonds (Far East) Inc.,
KGK Diamonds (I) Pvt. Ltd.,
KGK Diamonds (
KGK Diamonds (SZ) Co. Ltd.,
KGK Diamonds Co. Ltd.,
KGK Diamonds
KGK Enterprises,
KGK Gems (HK) Ltd., Hong Kong.
KGK Gems Ltd.,
KGK Gems,
KGK Investment
KGK Jewellery (
KGK Jewellery (HK) Ltd., Hong Kong.
KGK Jewellery Inc.,
KGK Jewellery
KGK Jewellery Manufacturing Ltd.,
KGK Jewellery Pvt. Ltd.,
KGK Mining (HK) Ltd., Hong Kong.
KGK Properties (HK) Ltd., Hong Kong.
KGK Real Estate (HK) Ltd., Hong Kong.
M.B.K. Diamonds
Precious Trade Inc.,
S. D. Diamond LLC,
Star Rough Diamonds (Pty) Ltd.,
etc.
BUSINESS
REGISTRATION NUMBER
31329946
COMPANY
FILE NUMBER
0735843
MANAGEMENT
Managing Director: Mr. Sanjay
Navrattan Kothari
CAPITAL
Nominal Share Capital: HK$90,000,000.00 (Divided into 90,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$89,700,002.00
SHAREHOLDERS
(As per registry dated 27-10-2010)
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Name |
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No. of shares |
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United Pacific Excel Ltd. |
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88,000,000 |
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Sanjay Navrattan KOTHARI |
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1,700,001 |
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Manju KOTHARI |
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1 |
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––––––––– |
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Total: |
89,700,002 ======== |
DIRECTORS
(As per registry dated 27-10-2010)
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Name (Nationality) |
Address |
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Manju KOTHARI |
Flat B & C, 8/F., Robinson Garden Apartments, |
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Sanjay Navrattan KOTHARI |
Flat B & C, 8/F., Robinson Garden Apartments, |
SECRETARY
(As per registry dated 27-10-2010)
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Name |
Address |
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Louis Lai Co. Secretarial Services Ltd. |
9/F., |
0686503 |
HISTORY
The subject was incorporated on 27th October, 2000 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.
OPERATIONS
Activities: Manufacturer and Exporter.
Lines: All
kinds of diamonds.
Employees: 30. (Including affiliates in
Commodities Imported:
Markets:
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
D/P, etc.
MEMBERSHIP
Diamond Federation of Hong Kong, China Ltd.,
FINANCIAL
INFORMATION
Nominal Share Capital: K$90,000,000.00 (Divided into 90,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$89,700,002.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 46,800,002.00 |
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27-02-2009 |
paid up |
HK$ 11,700,000.00 |
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04-03-2010 |
paid up |
HK$ 31,200,000.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 89,700,002.00 ============== |
Increase
of Nominal Capital:-
|
From |
HK$60,000,000.00 |
to |
HK$90,000,000.00 |
on |
04-01-2010 |
Mortgage or Charge: (See
attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:- The
Royal Bank of
Standard Chartered Bank (Hong Kong) Ltd.,
Standing:
Good.
GENERAL
KGK Diamonds (HK) Ltd. is a
subsidiary company of United Pacific Excel Ltd. which is a BVI-registered
firm. The subject in fact is a member of
the KGK Group which is trading in diamond and related products. It increased its issued share capital in
March 2010.
The subject is trading in
the Group’s products. It has got a main affiliated
company located at its operating address known as KGK Jewellery (HK) Ltd., a
Hong Kong-registered firm.
The subject has set up five
to six retailing outlets in
The KGK Group is a global
corporation based in
From procurement to
manufacturing and from marketing to retailing, the Group is present across the
full value chain of the industry with offices spread across the world.
KGK’s diamond operation
started in 1969 with diamonds trading and diamond manufacturing activities
began in 1982.
Initially KGK was sourcing
its rough diamonds from
KGK has set up marketing offices
in all important cities in the world, and has set up manufacturing units in
Currently, the subject is
manufacturing the following commodities and offering clients with the following
services:-
|
Product/Service |
Product/Service Remarks |
|
Jewellery – Diamond |
Include precious stones
from |
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Gemstones and Jade |
Precious stones
(Manufacturer) Precious stones
(Exporter) Precious stones from |
|
Diamond |
From |
The Group now has set up a
factory in
Besides the Panyu factory,
the Group’s other diamond manufacturing plants are located in
The Group’s gemstones such
as emeralds, tanzanites, rubies and sapphires are manufactured by its factories
in
The Jaipur factory of the
Group produces jewellery for KGK’s own showroom and the domestic market.
Products are exported to
The foundation of the KGK
Group was laid in the year 1905, when Mr. Shri Keshrimalji Kothari started
trading in coloured gemstones simultaneously from
Now, the Group has been
managed by the fourth generation of the family.
The currently president of the Group is Navrattan Kothari.
In July 2009, Martin Flyer
Ltd. [Martin Flyer], a US-based firm, confirmed its partnership and strategic
alliance with KGK Group. This
partnership will give Martin Flyer access to additional diamond supplies to
fulfil its needs and grow its brands according to future plans.
In order to penetrate the
international market further, KGK Group has taken part in fairs and exhibitions
held in
JCK
HK International Jewellery
Show
HK Jewellery & Gem Fair
Shenzhen International
Jewellery Fair
Asia
(other than Hong Kong and
International Jewellery
Jaipur Jewellery Show
The overall business of the
subject in
On the whole, consider the
subject good for normal business engagements.
REMARKS
Court Cases: None
per our.
Property information of the company and
director:-
1. Property
Location: Flat 8 on 14/F. and Flat
I on 18/F.,
Owner: KGK Diamonds (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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23-05-2008 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland
N.V.] |
Mortgage to secure general banking facilities granted to KGK Diamonds (HK)
Ltd. and KGK Jewellery Manufacturing Ltd. |
2. Property Location: 8/F., Robinson Garden Apartments, 3B
Owner: Sanjay Navrattan Kothari
Date of Purchase: 25-05-1988
Purchased Price: HK$1,700,000 pt.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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23-01-1996 |
- |
Belgian Bank, Hong Kong Branch.
[Business was taken over by Industrial & Commercial Bank of |
Legal charge to secure banking facilities |
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16-09-2003 |
- |
Fortis Bank |
Deed of variation of M/N 6509498 and legal further charge |
MORTGAGE
OR CHARGE
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Date |
Particulars |
Amount |
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27-05-2005 |
Instrument: Debenture Property: All the Company’s undertaking and rpoperty
and assets whatsoever and wheresoever both present and future including all
book and other debts revenues and claims Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
In consideration of ABN AMRO Bank N.V.
agreeing to grant general banking facilities to KGK Diamonds (HK) Ltd. |
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23-05-2008 |
Instrument: Mortgage Property: 20/4,070th parts or shares of and in
Kowloon Inland Lot No. 9401 (Flat 8 on 14/F. and Flat I on 18/F. of Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
In consideration of ABN AMRO Bank N.V.
agreeing to grant general banking facilities to KGK Jewellery Manufacturing
Ltd. |
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23-05-2008 |
Instrument: Mortgage Property: 20/4,070th parts or shares of and in Kowloon
Inland Lot No. 9401 (Flat 8 on 14/F. and Flat I on 18/F. of Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. [Now known as The Royal Bank
of Scotland N.V.] |
In consideration of ABN AMRO Bank N.V. agreeing
to grant general banking facilities to KGK Diamonds (HK) Ltd. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.52 |
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1 |
Rs.72.72 |
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Euro |
1 |
Rs.64.41 |
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.