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Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
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Name : |
RAHA IMPEX HK
LTD. |
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Registered Office : |
Room 501, 5/F., |
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Country : |
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Date of Incorporation : |
22.09.2010 |
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Com. Reg. No.: |
53018664 |
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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, etc, |
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No. of Employees : |
2. (Including affiliate) |
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 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 |
RAHA IMPEX HK LTD.
Room 501, 5/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2311 5288
FAX: 2311 7599
Managing
Director: Mr. Aditya Rathi
Incorporated on : 22nd September, 2010.
Organization : Private Limited Company.
Capital: Nominal : HK$3,000,000.00
Issued : HK$900,000.00
Business Category : Diamond Trader.
Employees : 2. (Including affiliate)
Main Dealing Banker : The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation : Satisfactory.
RAHA IMPEX HK LTD.
Registered
Head Office:-
Room 501, 5/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
53018664
1508149
Managing
Director: Mr. Aditya Rathi
Nominal Share
Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$900,000.00
(As per registry dated 22-09-2011)
|
Name |
|
No.
of shares |
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Aditya
RATHI |
|
300,000 |
|
Aman
SHARDA |
|
300,000 |
|
Ankit SHARDA |
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300,000 |
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––––––– |
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Total: |
900,000 ====== |
(As per registry dated 22-09-2011)
|
Name (Nationality) |
Address |
|
Aman SHARDA |
Apartment Redtop JL. Pecenongan 72, Rt.
002/004, Kebon Kelapa Gambir Jakarta Pusat, Indonesia. |
|
Ankit SHARDA |
D 58 Ext 1, Opp. Pratap Nagar Police
Station, Kamla Nehru Nagar Jodhpur, India. |
|
Aditya RATHI |
Inder Prasth, Behind Kumaron Ka Mandir,
1st B Road, Sardarpura, Jodhpur, Raj., India. |
(As per registry dated 22-09-2011)
|
Name |
Address |
Co.
No. |
|
C K
Registrations Ltd. |
Room 902, 9/F., Bank Centre, 636 Nathan Road, Kowloon, Hong Kong. |
0803965 |
The
subject was incorporated on 22nd September, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products, etc,
Employees :
2. (Including affiliate)
Commodities Imported:India, other Asian countries,
etc.
Markets :
Indonesia, other Asian countries, etc.
Terms/Sales : L/C, T/T, etc.
Terms/Buying : L/C, T/T, D/P, etc.
Nominal Share Capital : HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital : HK$900,000.00
Profit or Loss : Too early to offer an opinion.
Condition : Business is under development.
Facilities : Making fairly active use of general banking facilities.
Payment : Met trade commitments as required.
Commercial Morality : Satisfactory.
Banker : The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing : Small.
Having
issued 900,000 ordinary shares of HK$1.00 each, Raha Impex HK Ltd. is equally
owned by Mr. Aditya Rathi, Mr. Aman Sharda and Mr. Ankit Sharda. They are also directors of the subject. The first is an India passport holder, the
second is an Indonesia passport holder while the third, also an India passport
holder. Currently all of them are not in
Hong Kong. The subject’s representative
in Hong Kong can be reached at his mobile phone number 852-6398 5168.
The
subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India. Prime markets are
Hong Kong, Japan, Indonesia and the other Asian countries. Business is still under development.It is
likely that Mr. Aman Sharda is operating a diamond trading firm in
Indonesia. On the other hand, Mr. Ankit
Sharda and Mr. Aditya Rathi are operating another diamond trading firm in India.
It
is also likely that the Indonesia and India firms deal with foreign parties
under the name of the subject and let foreign firms correspond with the
subject’s registered address in Hong Kong.
The
history of the subject in Hong Kong is just over a year and four months.
On
the whole, since the history of the subject is short in Hong Kong, consider it
good for normal 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.51.20 |
|
|
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
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 |
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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 |
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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 |
-- |
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.