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MIRA
INFORM REPORT
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Report Date : |
24.10.2011 |
IDENTIFICATION DETAILS
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Name : |
JOGANI DIAM LIMITED TAIWAN BRANCH (HONG KONG) |
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Formerly Known As : |
JEWEL CREATION LIMITED TAIWAN BRANCH (HONG KONG) |
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Registered Office : |
4F.-1, No.201, Sec. 2, Heping E. Rd., Da-An Dist., Taipei City 10664 |
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Country : |
Taiwan |
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Date of Incorporation : |
08.06.2005 |
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Com. Reg. No.: |
27257123 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture, import and trading of diamond |
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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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Moderate |
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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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Taiwan |
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 |
Contact Points
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Company Name: |
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Former Name: |
Jewel Creation Limited Taiwan Branch (Hong Kong) |
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Supplied Name: |
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Trading Address: |
4F.-1, No.201, Sec. 2, Heping E. Rd., Da-An
Dist., Taipei City 10664, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-27070851 |
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Fax Number: |
Note: The exact subject’s name and address are as above mentioned.
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification Details
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Registered Name: |
Jogani Diam Limited Taiwan Branch (Hong Kong) |
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Registered Address: |
4F.-1, No.201, Sec. 2, Heping E. Rd., Da-An Dist., Taipei City 10664,
Taiwan (R.O.C.) |
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Date of Foundation: |
2005-06-08 |
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Registration Number: |
27257123 |
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Registry: |
Department of Commerce |
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Registered Capital: |
(As of 2011.10, 1 NTD = 0.0329 USD) |
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Legal Representatives: |
Jogani, Kevin Naresh |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
History
Subject was incorporated on 2005-06-08 with registered number
27257123 as Private Limited
Liability Company in Taiwan.
Shareholders
Note: Information on shareholders could not be
obtained from subject or other sources.
Subsidiaries & Branches
Personnel Information
Core
Management
|
Name |
Jogani, Kevin
Naresh |
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Position |
Manager |
Personnel
Structure
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Total Employees |
3 Empoyees |
Operation Information
Offices
& Factories
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|
Headquarters |
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Add |
4F.-1, No.201,
Sec. 2, Heping E. Rd., Da-An Dist., Taipei City 10664, Taiwan (R.O.C.) |
Production
Information
l
Subject does not have any production in Taiwan.
l
A factory in India supply diamond for subject’s
sale.
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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F401010 |
International Trade |
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F115010 |
Wholesales of jewelry and precious metals |
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F215010 |
Retailing of jewelry and precious metals |
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ZZ99999 |
In addition to licensing business, Act was not
prohibited or restricted operation of the business |
Besides licensed business, all other business items those are not banned
or restricted.
l
The subject has a
proportion of 50% for Import
|
Product |
Origin |
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Diamond |
India, America, Israel |
l
The subject is mainly engaged in importing and
trading of diamond.
l
The subject has a local
market of 100%.
Major products
sold
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Product |
Sales Region |
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Diamond |
Taiwan |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Note: Subject seldom purchases from domestic
markets.
Foreign Purchase
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Payment Terms |
Proportion |
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Diamond |
CBD, etc. |
100% |
Sales
Domestic Markets (Taiwan)
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Sales Terms |
Proportion |
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Diamond |
Cash, CBD, etc. |
100% |
Export
Note: Subject seldom exports to foreign markets.
Financial Information
Subject has no obligations to disclose its financial statements to the
third party according to the relevant policy in Taiwan and the only source from
which we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Lin declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Public Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
Interview Details
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Name |
Ms. Lin |
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Position |
Assistant |
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E-mail |
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 |
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US Dollar |
1 |
Rs.50.06 |
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1 |
Rs.79.15 |
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Euro |
1 |
Rs.69.03 |
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.