MIRA
INFORM REPORT
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Report Date : |
17.12.2011 |
IDENTIFICATION DETAILS
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Name : |
THEA INTERNATIONAL TRADING LTD. |
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Registered Office : |
Flat C, 11/F., China Insurance Building, 48 Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.04.2010 |
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Com. Reg. No.: |
52189947 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of all kinds of diamonds, etc. |
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No. of Employees : |
3. |
RATING & COMMENTS
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MIRAs 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 September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
THEA INTERNATIONAL
TRADING LTD.
ADDRESS: Flat C, 11/F., China
Insurance Building, 48 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 8886
FAX: 2723 8680
MANAGEMENT
Managing Director: Ms. Chen Mei
Hua
SUMMARY
Incorporated on: 30th
April, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Flat C, 11/F., China Insurance Building, 48 Cameron Road, Tsimshatsui,
Kowloon, Hong Kong.
Shenzhen Main Office:-
Room 2701, Wencheng Centre, Wenjin Square, Luohu District, Shenzhen
Special Economic Zone, China.
[Tel: 86-0755-2550 9757; Fax:
86-0755-2550 3306]
Shanghai Branch Office:-
Room 909A, North Tower A, China Exchange Centre Building,
1701 Century Dadao, Pudong, Shanghai, China.
[Tel: 86-021-3882 1418; Fax:
86-021-3882 1418]
Affiliated Companies:-
CornerStone Management Ltd., Hong Kong.
CornerStone Marble & Granite Incorporation, Taiwan.
BUSINESS REGISTRATION NUMBER
52189947
COMPANY FILE NUMBER
1451446
MANAGEMENT
Managing Director: Ms. Chen Mei
Hua
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 30-04-2011)
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Name |
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No. of shares |
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Simon Roy KESEL MEILICHSON |
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2,000 |
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CHOI Mei Fa, Paris |
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500 |
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Santosh K. AGARWAL ALIAS KEDIA |
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3,750 |
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KO Pei Chang |
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1,150 |
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CHEN Mei Hua |
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1,150 |
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Prakash Ghanshyam MAHTANI |
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1,450 |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 21-09-2011)
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Name (Nationality) |
Address |
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CHEN Mei Hua |
7F-1, No. 410 Chungshiao East Road, Section 5, Taipei, Taiwan. |
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Santosh K. AGARWAL ALIAS KEDIA |
Schupstraat 20, Bus 12, Antwerpn 2018, Belgium. |
SECRETARY
(As per registry dated 30-04-2011)
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Name |
Address |
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Simon Roy KESEL MEILICHSON |
Flat A, 16/F., Block 1, The Pavilion, Discovery Bay Chianti, Lantau
Island, Hong Kong. |
HISTORY
The subject was incorporated on 30th April, 2010 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: Importer and Exporter.
Lines: All kinds of diamonds,
etc.
Employees: 3.
Commodities Imported: Israel, Belgium, India, etc.
Markets: China, other Asian countries,
Europe, North America, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping
a balance account.
Condition: Business is under development.
Facilities: Trying to make use of general
banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Fairly satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Thea International
Trading Ltd. is jointly owned by Hong Kong, Belgium, Taiwan and India
merchants.
The Hong Kong shareholder Ms. Paris Choi Mei Fa is a Hongkongnese. She is holding 5% interests of the subject. She is also the contact person of the
subject. Another shareholder Mr. Simon
Roy Kesel Meilichson holding 20% of interests is also residing in Hong Kong.
The subject is a diamond trader.
It offers customers with round brilliant diamonds. Size ranges from 0.10 to 5.00 carats, from D
to M colour and from IF to S12 clarity.
Products are marketed in Hong Kong, China, other Asian countries,
Europe, the Middle East, North America, etc.
The subjects main office is in Shenzhen Special Economic Zone, China
[Thea]. All the diamonds sold by the
Shenzhen firm have got GIA/HRD/IGI certificates. According to Thea, all the diamonds are
mainly cut and polished in Belgium and Israel, while some are cut and polished
in Russia and India.
Thea has set up a branch company in Shanghai, China.
In October 2010, Thea became a member of Shanghai Diamond Exchange.
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 Jewellery Show 2012 which will be
held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during
the period of 16th to 20th February, 2012.
The history of the subject in Hong Kong is just over a year and seven
months.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis.
DIAMOND INDUSTRY
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under
DIAMOND
SAGA DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
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|
1 |
Rs.82.00 |
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Euro |
1 |
Rs.68.81 |
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 SCs 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.