|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAY SHINE LTD. |
|
|
|
|
Registered Office : |
Unit 14, 13/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21.02.2003 |
|
|
|
|
Com. Reg. No.: |
33730717 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc. |
|
|
|
|
No. of Employees : |
6. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
DAY SHINE LTD.
Address: Unit 14, 13/F.,
Peninsula Square,
19 Sung On
Street, Hunghom,
Kowloon,
Hong Kong.
(Formerly located at:
Flat B, 12/F., South Sea Mansion,
81 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong. )
PHONE: 2314 4414, 2314 4114
FAX: 2314 4444
E-MAIL: 2314 4444
Managing Director: Mr. Dilip
Ramniklal Shah
Incorporated on: 21st
February, 2003.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Jewellery Trader.
Employees:
6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit 14, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong.
Associated/Affiliated Companies:-
Aesh Diam, Hong Kong.
Decent Dia & Jew LLC, UAE.
Decent Dia-Jewels Pvt. Ltd., India.
Decents Spain S.L., Spain.
Dia-Brilliant Jewelery Co., Hong Kong.
Diaccents Exports (Shanghai) Ltd., China.
Diaccents Exports, Hong Kong.
Diaccents, Taiwan.
Diamond Link, India.
Nation Apex, China.
RI-Decent Diam, South Africa.
33730717
0834235
Managing Director: Mr. Dilip
Ramniklal Shah
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2.00
(As per registry dated 21-02-2012)
|
Name |
|
No. of shares |
|
Dilip Ramniklal SHAH |
|
1 |
|
Kaushal Dilip SHAH |
|
1 |
|
|
|
|
|
|
Total: |
2 = |
(As per registry dated 21-02-2012)
|
Name (Nationality) |
Address |
|
Dilip Ramniklal SHAH |
Unit 14, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong. |
|
Kaushal Dilip SHAH |
Unit 14, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong. |
(As per registry dated 21-02-2012)
|
Name |
Address |
Co. No. |
|
Excellence Group Ltd. |
Flat D, 2/F., Right Time Building, 21-27 Playing Field Road, Mongkok,
Kowloon, Hong Kong. |
0567136 |
The subject was incorporated on 21st February, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat B, 12/F., South Sea Mansion,
81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address in March 2012.
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: 6.
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Hong
Kong, other Asian countries, Middle East, UK, USA, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making 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:
Normal.
Day Shine Ltd. is equally owned by Ms. Kaushal Dilip Shah and Mr. Dilip
Ramniklal Shah. The subject has just
issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a
single share.
The subject moved to the present new address in March 2012.
The subject is a diamond trader.
It has had an affiliated company Diaccents Exports located at its
operating office. The subject and
Diaccents Exports are engaged in the same lines of business, more or less.
Established in 1981 in Hong Kong by Mr. Dilip Shah, Diaccents Exports
has expanded today to seven renowned business associates, namely, Decent Dia‑Jewels
Pvt. Ltd. [DDJPL], Decents Spain S.L. (Spain), Diaccents Exports (Shanghai)
Ltd. (China), Nation Apex (China), Diaccents (Taiwan), RI‑Decent Diam
(South Africa), and Decent Dia & Jew LLC (Dubai).
Initially started as a loose diamond exporter, Diaccents Exports has
good reputation in exclusive jewellery designing, manufacturing, exporting and
also catering to the international market in wholesaling as well as
retailing. Its jewellery designs have
found ready markets such as Asian countries, the Middle East, Hong Kong, the
United Kingdom, and the United States.
Besides, Diaccents Exports has set up three retail showrooms in Spain.
Diaccents Exports has had its own workshop. Raw materials used are diamonds, round,
princess, emeralds and also some natural colour diamonds which are made into
rings, pendants, necklaces, ear-rings, sets and brooches in gold and
platinum. Diaccents Exports has 430
workers in its workshop. Currently, it
is exporting 18Kt yellow and white gold diamond studded jewellery.
DDJPL was established in 1978 and has become an Export House recognised
by the Government of India. It was
formed by two partners Mr. Chetan Shah and Mrs. Hema Shah. DDJPL is engaged in diamonds manufacturing
and exporting. Now, DDJPL has got sales
offices and production facilities worldwide.
DDJPL usually has got bulk orders through its market associates in Hong
Kong, Barcelona, Spain, South Africa, Dubai and China. At present, DDJPL has over 340 managing
personnel and 6,000 workers. Its
manufacturing facilities provide worldwide customers with different shapes and
sizes of polish diamonds.
Most of the subjects products are also provided by DDJPL. The subject and its associates are owned by
the Shah family.
The subject has got associated companies in Hong Kong such as Aesh Diam
and Dia-Brilliant Jewelery Co. Both
firms are located at different addresses in Hong Kong. Ms. Kaushal Dilip Shah is also the sole
proprietor of Aesh Diam.
The business of the subject seems to be expanding.
As the history of the subject is over nine years and a month in Hong
Kong, on the whole, consider it good for normal business engagements.
DIAMOND INDUSTRY
INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.51.66 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.18 |
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 |
|
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 |
-- |
This score serves as a reference to assess SCs 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.