MIRA INFORM
REPORT
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Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
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Name : |
DIAVIN
LTD. |
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Registered Office : |
Unit
6, 7/F., Chevalier House, |
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Country : |
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Date of Incorporation : |
25.10.1994 |
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Com. Reg. No.: |
18960793 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
DIAVIN LTD.
Company ADDRESS
Unit 6, 7/F., Chevalier House,
PHONE: 2369 6123, 2369 0130
FAX: 2375 2526
E-MAIL: info@diavin.com
MANAGEMENT
Managing Director: Mr Chirag Arvindkumar Shah
SUMMARY
Incorporated on: 25th October, 1994.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Group Annual Turnover: US$155~160 million.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
Unit 6, 7/F., Chevalier House,
Affiliated Companies:-
·
Dianish (H.K.) Ltd.
·
Dianish (H.K.) Ltd.,
·
Diavin Diamond Shanghai Co. Ltd.,
·
Diavin Jewellery Company,
·
Diavin Jewellery Pty. Ltd.,
·
Diavin,
·
Navin Gems,
BUSINESS REGISTRATION NUMBER
18960793
COMPANY FILE NUMBER
0494691
MANAGEMENT
Managing Director: Mr Chirag Arvindkumar Shah
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
SHAREHOLDERS
(As per registry dated 25-10-2010)
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Name |
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No. of shares |
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Chirag Arvindkumar SHAH |
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8,000 |
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Shraddha Chirag SHAH |
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2,000 |
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|
–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 25-10-2010)
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Name (Nationality) |
Address |
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Chirag Arvindkumar SHAH |
Flat K, 33/F., Block 2, |
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Shraddha Chirag SHAH |
Flat K, 33/F., Block 2, |
SECRETARY
(As per registry dated 25-10-2010)
|
Name |
Address |
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Elegant Secretaries Ltd. |
Room 804, 8/F., |
0418716 |
HISTORY
The subject was incorporated on 25th October, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Eminent Gold Ltd., name changed to the present style on 28th March, 2001.
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, emerald, precious stones, etc.
Employees: 8.
Commodities Imported:
Markets:
Group Annual Turnover: US$155~160 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
·
Hong Kong Jewelry Manufacturers’ Association,
·
The Indian Chamber of Commerce Hong Kong,
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Indebtedness: HK$24,784,231.00 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 25-10-2010)
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active and satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
·
The Hongkong & Shanghai Banking Corp. Ltd.,
·
Hang Seng Bank Ltd.,
Standing:
GENERAL
Having
issued 10,000 ordinary shares of HK$1.00 each, Diavin Ltd. is jointly owned by Mr.
Chirag Arvindkumar Shah, holding 80% interests; and Mr. Shraddha Chirag
Shah, holding 20%. The two Shahs are
also directors of the subject. Being
Hong Kong ID Card holders, they have got the right to reside in
The subject is a diamond importer, exporter and wholesaler. It has got an affiliated company Diavin Jewellery Company [Diavin] located at its operating address. The subject and Diavin are engaged in the same lines of business.
Diavin
is a subsidiary of Navin Gems in
The
subject is trading in carat size diamonds and loose diamonds. Most of the commodities are imported from
The
subject has established its own diamond and jewellery manufacturing facilities
in
The
· Gold Jewellery — 9-karat, 14-karat, 18-karat, Others
· Platinum Jewellery — Pt900, Pt950, etc.
· Diamond Gold Jewellery — 9-karat, 14-karat, 18-karat, 24-karat, Others
· Diamond Platinum Jewellery
· Gemset Jewellery — 9-karat, 14-karat, 18-karat, 24-karat, etc.
· Gemset Platinum Jewellery — Pt900, Pt950, etc.
The subject is engaged in marketing and distributing rough and cut, polished diamonds. Its products include jewellery products, ranging from diamonds and precious stones such as sapphire and semi-precious stones in 9K, 14K, 18K gold and platinum. Various price levels are offered. Jewellery range includes rings, earrings, pendants, bracelets, necklaces, charms and cufflinks. Commodities are exported to worldwide countries.
The subject is one of the largest stone suppliers among the globe and it has its own stone cutting factory which is able to provide customers with collections of fine diamonds.
Currently, the subject has set up offices in Taipei of Taiwan, Shanghai of China and Sydney of Australia. It has become one of the significant diamond and jewellery suppliers in the Asia Pacific regions with over 110 staff and workers. The subject has got its own in-house designers.
The subject’s total amount outstanding registered with the Companies Registry as at late October 2010 amounted to HK$24.8 million.
The annual turnover of the subject and its affiliated companies amounts to US$155 to 160 million. Business is rather active.
As
the history of the subject in
REMARKS:
Court Cases: None per our.
Property information of the company:-
1. Property Location: Unit 6 on 7/F., Chevalier House,
Owner: Diavin Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
01-08-2007 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
2. Property Location: Unit 6 on 10/F., Chevalier House,
Owner: Diavin Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
30-09-2008 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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01-08-2007 |
Instrument: Mortgage Property: 187/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No. 8670, Kowloon Inland Lot No. 8567 and Kowloon Inland Lot No. 7074 (Unit 6 on 7/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., |
To secure all sums from time to time advanced by the Lender to the Borrower whether alone or jointly with any person and outstanding in respect of general banking facilities |
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30-09-2008 |
Instrument: Mortgage Property: 191/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No. 8670, Kowloon Inland Lot No. 8567 and Kowloon Inland Lot No. 7074 (Unit 6 on 10/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., |
To secure all sums from time to time advanced by the Lender to the Borrower whether alone or jointly with any person and outstanding in respect of general banking facilities |
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30-09-2008 |
Instrument: Rental Assignment Property: 191/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No. 8670, Kowloon Inland Lot No. 8567 and Kowloon Inland Lot No. 7074 (Unit 6 on 10/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., |
To secure all moneys in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.10 |
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1 |
Rs.74.64 |
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Euro |
1 |
Rs.64.42 |
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 |
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.