MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN LINKFIELD LTD. |
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Registered Office : |
C/o Buttar.HK Ltd. Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street,
Jordan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.12.2008 |
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Com. Reg. No.: |
50106626 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
-- |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
GOLDEN LINKFIELD
LTD.
ADDRESS:
Registered Office:-
c/o Buttar.HK Ltd.
Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong.
[Tel: 2312 0148; Fax: 2375 6513]
BUSINESS REGISTRATION NUMBER
50106626
COMPANY FILE NUMBER
1293572
DATE OF INCORPORATION
11th December, 2008.
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
SHAREHOLDER
(As per registry dated 11-12-2010)
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Name |
|
No. of shares |
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Sharad Suresh AGARWAL |
|
10,000 ===== |
DIRECTOR
(As per registry dated 14-02-2011)
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Name (Nationality) |
Address |
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Sharad AGARWAL |
1003/1004 Marathon Maxima, LBS Marg, Mulund West, Mumbai 400080,
India. |
SECRETARY
(As per registry dated 11-12-2010)
|
Name |
Address |
Co. No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
GENERAL
Golden Linkfield Ltd. was incorporated on 11th December, 2008 as a private
limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau
Lam Street, Jordan, Kowloon, Hong Kong” known as “Buttar.HK Ltd.” which is
handling its correspondences and documents.
Buttar.HK Ltd. is also the corporate secretary of the subject.
Formerly the subject was located at 6/F., Shun On Commercial Building,
112-114 Des Voeux Road Central, Hong Kong where is the operating address
of Company Kit Registrations Ltd. which was also a commercial service
provider. The subject moved to the
present address with effect from 15th December, 2008 as it has changed its
commercial service provider since then.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each which are wholly-owned by
Mr. Sharad Agarwal who is an Indian.
Being an India passport holder and currently residing in Mumbai, India,
Agarwal is also the only director of the subject. Agarwal does not have the right to reside in
Hong Kong permanently.
The subject’s lines of business are unknown since the secretarial firm
declined to divulge any information about it.
It is likely that the subject is a diamond importer, exporter and
wholesaler. It is engaged in
manufacturing loose diamonds like Marquise, Pears, Tappers, Buggets and Rose
Cut Diamonds.
Commodities are chiefly imported from India. Products are marketed in Hong Kong, exported
to Japan and the other Asian countries.
It is likely that the subject has got an affiliated company in India
which is also operated by Agarwal.
It is likely that the India firm deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong. The
India firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
The history of the subject in Hong Kong is just over two years and ten
months.
On the whole, since the subject does not have its own operating office,
history is short, and has no employees in Hong Kong, consider it good for
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
|
|
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.55 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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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.