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Report Date : |
14.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
JK DIAM
LTD |
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|
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Registered Office : |
Flat C, 7/F., Han Chung Mansion, 8-10 Hankow Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.05.2010 |
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Com. Reg. No.: |
52287468 |
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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 : |
01 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JK DIAM LTD.
Flat C, 7/F., Han
Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2736 6100
FAX: 2736 6110
E-MAIL: jkdiamhk@gmail.com
Managing
Director: Mr. Shaileshkumar Popatlal
Lukhi
Incorporated on: 17th May, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$3,500,000.00
Issued: HK$3,500,000.00
Business Category: Diamond Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
JK DIAM LTD.
Registered Head Office:-
Flat C, 7/F., Han
Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.
Affiliated Company:-
J.K. Star
G-9 Prasad
Chambers Tata Road, 1 Opera House, Mumbai-400004, India.
[Tel: 9122-2366
9647, 2366 9648; Mobile: 91 9820 165478]
52287468
1456817
Managing
Director: Mr. Shaileshkumar Popatlal
Lukhi
Contact
Person: Mr. Sameer A. Vora (Mobile: 9561 1795)
Nominal Share
Capital: HK$3,500,000.00 (Divided into 3,500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$3,500,000.00
(As
per registry dated 17-05-2011)
|
Name |
|
No.
of shares |
|
Shaileshkumar Popatlal LUKHI |
|
3,500,000 ======= |
(As per registry dated 17-05-2011)
|
Name (Nationality) |
Address |
|
Shaileshkumar
Popatlal LUKHI |
7-A, Giriraj Co-op. Hsg. Soc. Ltd.,
11-Altamount Road, Mumbai-26, India. |
(As per registry dated 17-05-2011)
|
Name |
Address |
Co.
No. |
|
Lodestar
Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
The
subject was incorporated on 17th May, 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.
Employee: 1.
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Hong Kong, other Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$3,500,000.00 (Divided into 3,500,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,500,000.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
11-04-2011 |
paid up |
HK$ 3,490,000.00 |
|
|
|
|
|
Total: |
paid up |
HK$ 3,500,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$10,000.00 |
to |
HK$3,500,000.00 |
on |
11-04-2011 |
Profit or Loss: Made a small loss in 2010.
Condition: Business is improving.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 3.5 million ordinary shares of HK$1.00 each, JK Diam Ltd. is wholly
owned by Mr. Shaileshkumar Popatlal Lukhi who is an Indian. He is also the only director of the
subject. He is an India passport holder
and does not have the right to reside in Hong Kong permanently.
Formerly
the subject had just issued 10,000 ordinary shares of HK$1.00 each, increased
to the present number in April 2011.
Incorporated
in May 2010, the subjects registered address is located at Flat C, 7/F., Han
Chung Mansion, 8-10 Hankow Road, Tsimshatsui, Kowloon, Hong Kong. This office is not in a commercial building
but a residential building. It is likely
that Lukhi is residing in this address when he is in Hong Kong. The residential building is not trespassed by
outsiders.
The
subject has an employee in Hong Kong known as Mr. Sameer A. Vora who is the
marketing manager of the subject. Sameer
A. Vora can be reached at his mobile phone number 852-9561 1795.
The
subject is a diamond importer, exporter and wholesaler. Most of its commodities are loose diamonds
and white diamonds, which are imported from India. Another significant product of the subject is
diamond ring. Products are marketed in
Hong Kong or re-exported to the other Asian countries, North America and even
South America. Business has been
improving in Hong Kong.
According
to the subject, it is a leading supplier in NATTS diamonds in the Mumbai market
of India. Now it has targeted on the
east Asian market while Hong Kong is the foothold. This is the reason why the subject has been
set up. The subject can supply all kinds
of NATTS diamonds ranging from US$30.00 to 500.00. It also can supply white and white NATTS
diamonds in all sizes.
The
subject has got an affiliated company in India known as J.K. Star which is in
Mumbai. J.K. Star is trading in the same
kinds of products as the subject. It is
also the main supplier of the subject.
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it is going to take part in
HKTDC Hong Kong International Jewellery Show 2012 which will be held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of
16th to 20th February, 2012.
As
the history of the subject in Hong Kong is just over a year and eight months,
on the whole, consider it good for normal business engagements on secured basis
for the time being.
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.
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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.
-
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.55.42 |
|
UK Pound |
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.