MIRA INFORM REPORT
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Report Date : |
30.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AESH
DIAM. |
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Registered Office : |
House 35, The Beverly Hills, Boulevard de Cascade, 23 Sam Mun Tsai Road, Tai Po, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.02.2002 |
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Com. Reg. No.: |
32364800-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc. |
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No. of Employees
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Not Available |
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 – September 30th, 2011
|
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
AESH DIAM.
Company ADDRESS
House 35, The Beverly Hills, Boulevard de Cascade, 23 Sam Mun Tsai Road, Tai Po, New Territories, Hong Kong.
PHONE: Not available
FAX: Not available
MANAGEMENT
Manager: Ms. Kaushal Dilip Shah
SUMMARY
Establishment: 5th February, 2002.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Head Office:-
House 35, The Beverly Hills, Boulevard de Cascade, 23 Sam Mun Tsai Road, Tai Po, New Territories, Hong Kong.
Associated/Affiliated
Companies:-
· Day Shine Ltd., Hong Kong.
· Decent Dia & Jew LLC, UAE.
· Decent Dia-Jewels Pvt. Ltd., India.
·
Decents Spain S.L., Spain.
·
Diaccents Exports (Shanghai) Ltd., China.
· Diaccents Exports, Hong Kong.
·
Diaccents N.V., Belgium.
·
Diaccents, Taiwan.
· Diamond Link, India.
·
Nation Apex, China.
·
RI-Decent Diam, South Africa.
BUSINESS REGISTRATION NUMBER
32364800-000-02
MANAGEMENT
Manager: Ms. Kaushal Dilip Shah
SOLE PROPRIETOR
Name: Ms. Kaushal Dilip SHAH
Residential Address: Block B-1, 13/F., Burlington House, 92-94 Nathan Road, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was established on 5th February, 2002 as a sole proprietorship concern owned by Ms. Kaushal Dilip Shah under the Hong Kong Business Registration Regulations.
Initially the subject was located at Block B-1, 13/F., Burlington House, 92‑94 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in July 2008.
Apart from these, neither material
change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery products, etc.
Employees: Nil.
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Southeast Asia, Europe, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not disclosed.
Profit or Loss: Making a very small profit every year.
Condition: Business has been normal.
Facilities: Making fairly 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: Small.
GENERAL
Aesh Diam. is a sole proprietorship set up and owned by Ms. Kaushal Dilip Shah in February 2002. Ms. K. D. Shah is an Indian businesswoman.
The subject is a diamond and jewellery trader.
Located at the subject’s old address Block B-1, 13/F., Burlington House, 92‑94 Nathan Road, Tsimshatsui, Kowloon, Hong Kong was the operating office of another firm also bearing the name of Aesh Diam. [Old Aesh Diam.]. Established on 21st July, 2001 as a sole proprietorship owned by Mr. Anish Rajendrakumar Shah under the Business Registration Number 31939721-000-07, Old Aesh Diam. has ceased business since 30th October, 2001.
The subject bears a new Business Registration Number 32364800-000-02.
Ms. Shah is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. She seems to be a family member of Mr. Anish Rajendrakumar Shah who was the owner of Old Aesh Diam.
The subject is a diamond importer, exporter and wholesaler. It is trading in all kinds of cut and polished, loose diamonds, etc.
The subject’s registered address is located at House 35, The Beverly Hills, Boulevard de Cascade, 23 Sam Mun Tsai Road, Tai Po, New Territories, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Ms. Shah has moved to this new address but does not make any amendments on the subject’s registration materials. It seems that the subject’s operating address is also Ms. Shah’s new residential address. The residence is in a luxury building which is not trespassed by outsiders.
The subject imports commodities from India and Europe, other Asian countries, etc. Prime markets are Hong Kong, Japan and the other Asian countries.
The subject has got an affiliated company Day Shine Ltd. [Day Shine] in Hong Kong. Day Shine is also owned by the Shah family.
Day Shine is equally owned by Ms. K. D. Shah and Mr. Dilip Ramniklal Shah. Day Shine has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.
The subject and Day Shine are diamond traders. Located at a different address, Day Shine has had an affiliated company Diaccents Exports located at its operating office.
The business of the subject is chiefly handled by Ms. Shah herself. Business is fairly active in Hong Kong. She has had business ties with the other diamond trading firms owned and operated by her family members. The subject is also supported by the Shah family.
As the history of the subject in Hong Kong is over nine years and nine months, on the whole, consider it good for normal business engagements in small credit amounts.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.93 |
|
UK Pound |
1 |
Rs.80.62 |
|
Euro |
1 |
Rs.69.37 |
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.