MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
4C’S
DIAMONDS DISTRIBUTORS LTD. |
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Registered Office : |
c/o Diamart Ltd., Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.03.1988 |
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Com. Reg. No.: |
11655488-000-03 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Importer, Distributor and Wholesaler of all kinds of diamonds, jewellery and gemstones, etc. |
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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
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
4C’S DIAMONDS DISTRIBUTORS
Company ADDRESS
c/o Diamart Ltd.
Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2877 3191, 2377 1635
FAX: 2801 4925, 2801 4910
E-MAIL: jayesh@netvigator.com
MANAGEMENT
Manager: Mr. Arvind Kashinath Jadhav
SUMMARY
Establishment: 11th March, 1988.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond Trader and Distributor.
Employees: 6. (Including affiliates)
Main Dealing Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
COMPANY ADDRESS
Head Office:-
c/o Diamart Ltd.
Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
P.O. Box 96871, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Affiliated
Companies:-
· Diamart Ltd., Hong Kong. (Same address)
· Digico Holdings Ltd., Hong Kong. (Same address)
· Gitanjali Gems Ltd., India.
· Trans Exim Ltd., Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
11655488-000-03
MANAGEMENT
Manager: Mr. Arvind Kashinath Jadhav
PARTNERS
Name: Mr. Arvind Kashinath JADHAV
Residential Address: Flat G, 6/F., Tower 23A, Laguna Verde, Hunghom, Kowloon, Hong Kong.
Name: Mr. Mayank Navnitlal SHAH
Residential Address: 602
Posetdon Patio Buiilding, 2-2-11 Moto Asakusa, Taito-ku, Tokyo, Japan.
HISTORY
The
subject was established on 11th March, 1988 as a partnership concern jointly
owned by Mr. Chetan Chinubhai Choksi and Mr. Jayeshkumar Indravadan Shah under
the Hong Kong Business Registration Regulations.
The
following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
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Chetan Chinubhai CHOKSI |
11-03-1988 |
01-04-1997 |
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Jayeshkumar Indravadan SHAH |
11-03-1988 |
01-04-2000 |
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Nishit Dinesh MEHTA |
23-03-1993 |
15-11-2000 |
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Amit Haresh Kumar PATWA |
01-04-2000 |
25-08-2010 |
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Nilesh Ratilal SEDANI |
15-11-2000 |
15-11-2003 |
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Hitesh Laltibhai MEHTA |
15-11-2000 |
01-04-2011 |
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Arvind Kashinath JADHAV |
25-08-2010 |
- |
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Mayank Navnitlal SHAH |
01-04-2011 |
- |
Initially
the subject was located at A-3, 9/F., Hankow Centre, 41-51 Peking Road,
Tsimshatsui, Kowloon, Hong Kong, moved to Room 1101, 11/F., Century Square,
1-13 D’Aguilar Street, Central, Hong Kong in November 1993; to Room 1724,
17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong in June
2000; to Flat G, 7/F., Kim Hing Mansion, 49‑51 Kimberly Road,
Tsimshatsui, Kowloon, Hong Kong in February 2002; to Flat 5, 9/F., Kiu Fung
Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in May 2003; and
further moved to the present address in April 2007.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
OPERATIONS
Activities: Importer, Distributor and Wholesaler.
Lines: All kinds of diamonds, jewellery and gemstones, etc.
Employees: 6. (Including affiliates)
Commodities Imported: India, Thailand, Belgium, other European countries, etc.
Markets: Hong Kong, other Asian countries, Europe, US, etc.
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
· Diamond Federation of Hong Kong, China Ltd., Hong Kong.
· The Indian Chamber of Commerce Hong Kong, Hong Kong.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a very small profit every year.
Condition: Keeping in a rather active condition.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Standing: Small.
GENERAL
4C’s
Diamonds Distributors is a partnership jointly owned by Mr. Arvind Kashinath
Jadhav and Mr. Mayank Navnitlal Shah.
The latter joined in the subject on 1st April, 2011 while its old
partner Hitesh Laltibhai Mehta retired on the same date. Jadhav is a Hong Kong ID Card holder and has
got the right to reside in Hong Kong permanently.
At
the very beginning, the subject was jointly set up by Mr. Jayeshkumar
Indravadan Shah and Mr. Chetan Chinubhai Choksi. However, J. I. Shah retired from the subject
on 1st April, 2000 and set up another firm known as Harshdiam. Being also a diamond trader, Harshdiam was
set up on 29th September, 1993.
The
subject is sharing the operating office with the following Hong Kong-registered
firms:-
· Diamart Ltd.
· Digico Holdings Ltd.
· Trans Exim Ltd.
The
subject is engaged in importing and wholesaling polished, cut and rough
diamonds imported from India, Thailand and Belgium. Rough diamonds are cut and polished in Hong Kong
or China. Finished products are exported
to Japan, South Korea, Thailand, other Asian countries, Europe, etc.
The
subject has got an affiliated factory in Shenzhen Special Economic Zone, China
which is engaged in diamonds cutting, polishing, and jewellery manufacturing.
The
subject’s affiliated company Trans Exim Ltd. [Trans Exim] is also a diamond
trader. Having issued 1 million ordinary
shares of HK$1.00 each, Trans Exim is jointly owned by Mr. Amit Haresh Kumar
Patwa who is holding 60% interests, and Mr. Zenit Chetan Kumar Shah, holding
40%. Most of the time, Z. C. K. Shah, an
India passport holder, is residing in Shenzhen Special Economic Zone, China
administering the production in China.
Patwa was the old partner of the subject. In 2005, Trans Exim got an award from The Gem
& Jewellery Export Promotion Council of India.
The
subject’s another affiliated company Digico Holdings Ltd. [Digico] is also a
significant diamond trader. This firm
has had branch companies in the United States, Belgium, India, Namibia, the
United Arab Emirates, China, Thailand and Japan.
Digico
is a group of companies integrate diamond and jewellery manufacturers and
retailers in the world. The group has
had a strong presence at every level of the diamond business, right from
sourcing diamonds at competitive prices from DTC (Diamond Trading Company) as
sight holders to retailing its products through a vast network of self-owned
and franchised stores.
Digico
is the pioneer of branded jewellery in India and has several well established
brands in its arsenal to tap the continuously growing branded jewellery market
in India and the other countries of the world.
The followings are the well established brands: “Nakshatra”, “Gili”,
“Asmi”, “Sangini”, “D’Damas”, “Mi Amor”, “Giantti”,
etc.
Currently,
Digico Group is operating about 27 retail outlets under the name “Giantti”
in China. Business keeps on improving.
Digico
also has had a strong retail presence in India and some other countries
offering an extraordinary shopping experience through its retail stores of
“Samuels”, “Rogers” and “Verite”.
The
business of the subject is rather active.
Making a small profit every year.
The
subject is supported by its affiliated and associated firms.
As
the history of the subject in Hong Kong is over twenty-three years and four
months, on the whole, consider it good for normal business engagements.
REMARKS:
Court Cases: None per our.
Property
information of affliate:-
Property Location: Room 1724 on 17/F., Star House, 3 Salisbury Road, Kowloon, Hong Kong.
Owner: Diamart Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date
of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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04-03-2005 |
- |
Belgian Bank, Hong Kong Branch.
[Business was taken over by Industrial & Commercial Bank of China
(Asia) Ltd.] |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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.