MIRA INFORM REPORT

 

 

Report Date :

14.06.2011

 

IDENTIFICATION DETAILS

 

Name :

4C’S  DIAMONDS  DISTRIBUTORS

 

 

Registered Office :

C/o Diamart Ltd., Room 1724A, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

11.03.1988

 

 

Com. Reg. No.:

11655488-000-03

 

 

Legal Form :

Partnership

 

 

Line of Business :

Importer, Distributor and Wholesaler of all kinds of diamonds, jewellery and gemstones, etc.

 

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 :

Regular

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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. Amit Haresh Kumar Patwa

 

 

SUMMARY

 

Establishment:                          11th March, 1988.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader and Distributor.

 

Employees:                   7.  (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. Amit Haresh Kumar Patwa

 

 

PARTNERS

 

Name:  Mr. Hitesh Laltibhai MEHTA

Residential Address:      Diamond Tower, 3/F., Silom Soi-7, Bangkok-10500, India.

 

Name:  Mr. Arvind Kashinath JADHAV

Residential Address:      Flat G, 6/F., Tower 23A, Laguna Verde, Hunghom, Kowloon, Hong Kong.

 

 

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

Chetan Chinubhai CHOKSI

11-03-1988

01-04-1997

Jayeshkumar Indravadan SHAH

11-03-1988

01-04-2000

Nishit Dinesh MEHTA

23-03-1993

15-11-2000

Amit Haresh Kumar PATWA

01-04-2000

25-08-2010

Nilesh Ratilal SEDANI

15-11-2000

15-11-2003

Hitesh Laltibhai MEHTA

15-11-2000

-

Arvind Kashinath JADHAV

25-08-2010

-

 

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:                   7.  (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 & Loss:                Making a very small profit every year.

 

Condition:                      Keeping in a rather active manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments on time.

 

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. Hitesh Laltibhai Mehta and Mr. Arvind Kashinath Jadhav.  The latter joined in the subject on 25th August, 2010 while its old partner Amit Haresh Kumar Patwa retired on the same date.

Mehta is an India passport holder but residing in Bangkok, Thailand.  The new partner 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, 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 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%, and Mr. Zenit Chetan Kumar Shah, holding 40%.  Being Indian, the two shareholders are also directors of Trans Exim.  Most of the time, 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, 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”.

Shah is responsible for acquiring products in China while the new partner Jadhav is responsible for the subject’s business in Hong Kong.

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-two years and nine 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:-

Date of Mortgage

Amount Consideration

Mortgagee

Nature

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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.