MIRA INFORM REPORT

 

 

Report Date :

07.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DIASQUA  (HK)

 

 

Registered Office :

Room 401-402, 4/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

20.03.2000

 

 

Com. Reg. No.:

30791742-001-03

 

 

Legal Form :

Sole Ownership

 

 

Line of Business :

Importer and Exporter of all kinds of diamonds and jewellery products, gold and silver products, precious stones, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

DIASQUA  (HK)

(Operated by DIASQUA INTERNATIONAL LTD.)

 

 

company ADDRESS

 

Room 401-402, 4/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

PHONE:                  2209 6600,  2723 0237

 

FAX:                       2209 6620,  2739 3132

 

E-MAIL:                  facets@diasqua.com

     ashit@diasqua.net

 

 

MANAGEMENT

 

Manager:  Mr. Nimesh Piyush Mehta

 

 

SUMMARY

 

Establishment:                                      20th March, 2000.

 

Organization:                             Sole Ownership.

 

Capital:                                     Provided by Sole Owner.

 

Business Category:                    Diamond Trader.

 

Employees:                               16.

 

Main Dealing Banker:                 The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:                       Satisfactory.

company ADDRESS

 

Head Office:-

Room 401-402, 4/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

Operated by:-

Diasqua International Ltd., Hong Kong.  (See attachment)

 

Sister Companies:-

Diaglobe (HK), Hong Kong.
[Established on 20-03-2000 bearing BR No. 30791742-002-03]

Diajewel (HK), Hong Kong.
[Established on 17-05-2000 bearing BR No. 30791742-003-03]

 

Associated Companies:-

Diasqua Group of Companies

Billion City (H.K.) Ltd., Hong Kong.  [Trading as “Diafuego”]

Diafuego, Belgium.

Diaglobe BVBA, Belgium.

Diaglobe Inc., USA.

Diamond Dealers HK Ltd., Hong Kong.

Diasqua (Pacific) Pty. Ltd., Australia.

Diasqua (Thailand) Co. Ltd., Thailand.

Diasqua Impex Pte. Ltd., Singapore.

Diasqua Inc., USA.

Diasqua India Pvt. Ltd., India.

Diasqua International Ltd., Taiwan Branch.

Diasqua Middle East LLC, UAE.

Diasqua Nippon Co. Ltd., Japan.

Diasqua Singapore Pte. Ltd., Singapore.

Pretty Jewellery International Ltd., Hong Kong.

etc.

 

Affiliated Companies:-

Prism Group of Companies

Anand Enternational, India.

Colo Jewellery Company, Hong Kong.

Prism (USA) Inc, USA.

Prism Diamond Co. Ltd., Thailand.

Prism International, India.

Prism Jewellery Company, Hong Kong.

Prismdia Ltd., Hong Kong.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

30791742-001-03

 

MANAGEMENT

 

Manager:  Mr. Nimesh Piyush Mehta

Contact Person:  Mr. Lensy Leung

 

 

SOLE OWNER

 

Diasqua International Ltd., Hong Kong.

 

 

HISTORY

 

The subject was established on 20th March, 2000 as a sole ownership firm with Diasqua International Ltd. as the proprietor under the Hong Kong Business Registration Regulations.

It was originally registered under the name of Diasqua (Hong Kong), name changed to the present style on 7th April, 2000.

Initially the subject was located at Room 705-707, 7/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in September 2004.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of diamonds and jewellery products, gold and silver products, precious stones, etc.

 

Employees:                   16.

 

Materials/Commodities:  Imported from India, Belgium, Israel, other European countries, etc.

 

Markets:                       Japan, India, other Asian countries, Middle East, etc.

 

Terms/Sales:                 L/C, T/T, D/P, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

MEMBERSHIP

 

·         Diamond Federation of Hong Kong, China Ltd., Hong Kong.

·         Hong Kong Jewelry Manufacturers’ Association, Hong Kong.

 

 

FINANCIAL INFORMATION

 

Capital:                         Provided by Sole Owner.

 

Profit or Loss:                Parent makes a small profit every year.

 

Condition:                      Keeping in an active state.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Diasqua (HK) is operated by Diasqua International Ltd. [Diasqua Intl] which is a Hong Kong-registered firm located at the same operating address as the subject.

Established in March 2000, the subject is a member of the Diasqua Group.  It is trading in loose diamonds, carat-size diamonds, fancy diamonds, certificated diamonds, diamond studded gold jewellery, etc.  The subject is a wholesaler of diamonds ranging from 0.30 to 10 carats certified by GIA and HRD, collection of perfectly matched pair.  It also sells polished diamonds of all sizes, shapes, colours and clarities.

The manager of the subject is Mr. Nimesh Piyush Mehta who is an Indian.

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.  Over the past years, the subject has taken part in the following Shows and Fairs:-

USA

·         JCK Las Vegas Show

Europe

·         Basel, Switzerland

Hong Kong

·         HK Int’l Jewellery Show

·         Hong Kong Jewellery & Watch Fair

·         Hong Kong Jewellery & Watch Fair

Macau

·         January Macau Jewellery & Watch Fair

·         Macau Jewellery & Watch Fair

For instance, it took part in “HKTDC Hong Kong International Jewellery Show 2011” which had been held in Wanchai, Hong Kong during 5th to 9th March, 2011.

Incorporated on 20th March, 2000, Diasqua Intl is wholly-owned by the Mehta family.  Having issued 90 million ordinary shares (increased from 55 million to 65 million on 15th April, 2010, and further to 90 million on 20th January, 2011) of HK$1.00 each, Diasqua Intl is jointly owned by Mr. Nimesh Piyush Mehta, holding 70 million shares which account for 77.8%; and Mr. Romy Piyush Mehta, holding 20 million shares, account for 22.2%.

Diasqua Intl has a wide network of international offices situated in India, Singapore, Thailand, Taiwan, Japan, Australia, Belgium, the United States, Israel, the United Arab Emirates and China.  The trade names of Diasqua Intl are the following three:-

Diaglobe (HK)

Diajewel (HK)

Diasqua (HK) – the subject

The directors of Diasqua Intl are the members of the Mehta family who have been in Hong Kong for a very long time.

The associated companies of Diasqua Intl are Pretty Jewellery Int’l Ltd. and Diafuego.  The former is engaged in manufacturing diamond studded gold jewellery while the latter, operated by Billion City (H.K.) Ltd., is engaged in manufacturing diamond studded gold figurines, diamond watches and diamond accessories.  Both firms are also located at the operating address of the subject.

The Diasqua Group is a dedicated member of the diamond, gems and jewellery industry with strong roots dating back to three generations.  Today its core business involves in sourcing, distributing and marketing of an extensive range of polished diamonds.

For more than seventy years, the Group’s skills and reputation have passed from generation to generation each driven by a passion for diamonds and zeal for enterprise.  Over the years, the Group has developed a strong liaison with its customers, suppliers and business associates.

With humble beginnings in Madras (now known as “Chennai”) dating back to 1933, the Group’s global marketing network has extended to twelve offices in ten countries.

In 1996 and 1999 respectively, the Group set up a branch company in New York and Los Angeles, the United States.

In 2000, the Group set up its first venture in the Southern Hemisphere-Diasqua (Pacific) Pty. Ltd. in Sydney, Australia.  In 2003, Diasqua Middle East LLC located at Dubai was incorporated, operations started in August of the same year.  In 2006, Diasqua India Pvt. Ltd. was established in India.

The global networks of the Diasqua Group are set up in New York, London, Antwerp, Dubai, Mumbai, Hong Kong, Bangkok, Taipei, Tokyo, Singapore, Sydney, etc.

The subject is fully supported by the Diasqua Group which has a very significant annual sales turnover.  The Group has had numerous customers coming from more than fifty countries of the world.

The associated company of the subject Prismdia Ltd., a Hong Kong-registered firm, is located at a different address.  It is a joint venture between the Mehta family and Mr. Sureshkumar Ravjibhai Ghevriya who is also an Indian.

The history of the subject in Hong Kong is over eleven years and three months.

On the whole, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

company Name and address

 

DIASQUA  INTERNATIONAL  LTD.

[Trading as: DIASQUA (HK), DIAGLOBE (HK) and DIAJEWEL (HK)]

 

ADDRESS:         Room 401-402, 4/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

30791742

 

 

COMPANY FILE NUMBER

 

0709126

 

 

DATE OF INCORPORATION

 

20th March, 2000.

 

 

CAPITAL

 

Nominal Share Capital: HK$90,000,000.00 (Divided into 90,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$90,000,000.00

 

 

SHAREHOLDERS

 

(As per registry dated 20-03-2011)

Name

 

No. of shares

Nimesh Piyush MEHTA

 

70,000,000

Romy Piyush MEHTA

 

20,000,000

 

 

–––––––––

 

Total:

90,000,000

========

 

DIRECTORS  

 

(As per registry dated 20-03-2011)

Name

(Nationality)

 

Address

Nimesh Piyush MEHTA

Flat B & C, 16/F., Block 3, Parc Palais, 18 Wylie Road, Homantin, Kowloon, Hong Kong.

 

Romy Piyush MEHTA

Flat B2, 20/F., Greenfield Terrace, 26 Ho Man Tin Hill Road, Kowloon, Hong Kong.

 

 

SECRETARY

 

(As per registry dated 20-03-2011)

Name

Address

Co. No.

First Island Secretaries Ltd.

Room 905, 9/F., Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

0049295

 

 

INDEBTEDNESS

 

HK$304,889,205.00 

(Total amount outstanding on all mortgages and charges as per last Annual Return dated 20-03-2011)

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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.