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Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LOYAL TOP INTERNATIONAL ENTERPRISE LTD. |
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Registered Office : |
C/o Global Associates Ltd. Unit A, 10/F., |
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Country : |
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Date of Incorporation : |
11.01.2012 |
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Com. Reg. No.: |
59336377 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF LOOSE
DIAMONDS, ETC. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
LOYAL TOP
INTERNATIONAL ENTERPRISE LTD.
ADDRESS: c/o Global Associates Ltd.
Unit A, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong.
PHONE: 2850 8081
FAX: 2850 8093
Managing Director: Mr. Anurag Sen (Mobile:
6485 6981)
Incorporated on: 11th
January, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too
early to comment.
Registered Head Office:-
c/o Global Associates Ltd.
Unit A, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong.
Associated Company:-
Joy Glory Trading Ltd., Hong Kong.
59336377
1698290
Managing Director: Mr. Anurag Sen
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 27-03-2012)
|
Name |
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No. of shares |
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GNL 12 Ltd., Hong Kong. |
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1 |
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Anurag SEN |
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9,999 |
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Total: |
10,000 ===== |
(As per registry dated 27-03-2012)
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Name (Nationality) |
Address |
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Anurag SEN |
16/122 Purani Mandi, Ajner Raj., India. |
(As per registry dated 27-03-2012)
|
Name |
Address |
Co. No. |
|
Global Associates Ltd. |
Unit A, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong. |
1695695 |
The subject was incorporated on 11th January, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subjects registered address was located at 14/F., Chun Wo
Commercial Centre, 25 Wing Wo Street, Central, Hong Kong, moved to the present
address in March 2012 as the subject has changed its commercial service
provider.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of loose diamonds, etc.
Employees: Nil.
Commodities Imported: India, etc.
Markets: Hong
Kong, other Asian countries, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Alternation of Capital:-
|
11-01-2012 |
paid up |
HK$ 1.00 |
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27-03-2012 |
paid up |
HK$ 9,999.00 |
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Total: |
paid up |
HK$ 10,000.00 =========== |
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: Too early to comment.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Loyal Top
International Enterprise Ltd. is wholly owned by Mr. Anurag Sen who is an
Indian. He is an Indian passport holder
and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject commenced business in January 2012.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit A, 10/F., Tack Building, 48 Gilman Street,
Central, Hong Kong known as Global Associates Ltd. [GAL] which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
Your given phone number 852-6485 6981 is the mobile phone number of
Anurag Sen who is currently in Hong Kong.
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 and other Asian countries.
Business is still under development.
Besides operating the subject, Sen is also operating another firm Joy
Glory Trading Ltd. which is also located at the operating address of GAL.
The subject is just a one-man-company.
Business is still under development.
The subjects history in Hong Kong is just over three months.
Since the subject does not have its own operating office 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.51.66 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.18 |
RATING EXPLANATIONS
|
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 |
-- |
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.