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Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SANVIEW LTD. |
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Registered Office : |
C/o Cheng & Cheng Corporate Services Ltd. Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.05.2010 |
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Com. Reg. No.: |
52474851 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Diamond and jewellery, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – 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 |
SANVIEW LTD.
ADDRESS: c/o Cheng & Cheng
Corporate Services Ltd.
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong.
PHONE: 3962 0522
FAX: 3962 0303
Managing Director: Mr. Chan Boon
Yong
Incorporated on: 20th
May, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$100,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Cheng & Cheng Corporate Services Ltd.
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong.
Affiliated/Associated Company:-
Air Venture Sdn. Bhd.,
Malaysia.
Carat Club, China.
52474851
1458747
Managing Director: Mr. Chan Boon
Yong
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
(As per registry dated 20-05-2012)
|
Name |
|
No. of shares |
|
CHAN Boon Yong |
|
100,000 ====== |
(As per registry dated 20-05-2012)
|
Name (Nationality) |
Address |
|
LOO Suat Li, Debbie |
25, Jalan Menara
U8/5, Bukit Jelutong,
40150 Shah Alam, Selangor,
Malaysia. |
|
CHAN Boon Yong |
4 Lorong Taman Pantai 4, 59100 Kuala Lumpur, Malaysia. |
(As per registry dated 20-05-2012)
|
Name |
Address |
Co. No. |
|
Cheng & Cheng Corporation Services Ltd. |
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong. |
0307222 |
The subject was incorporated on 20th 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: Diamond
and jewellery, etc.
Employees: Nil.
Commodities Imported: Malaysia, India, etc.
Markets: China,
etc.
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$500,000.00 (Divided into 500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
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 100,000 ordinary shares of HK$1.00 each, Sanview Ltd. is wholly owned by Mr. Chan Boon Yong who is
an overseas Chinese. Chan is a Malaysia
passport holder and does not have the right to reside in Hong Kong
permanently.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1201, 12/F., Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong” known as “Cheng
& Cheng Corporate Services Ltd.” which is handling its correspondences and
documents. Cheng & Cheng Corporate
Services Ltd. is also the corporate secretary of the subject. This firm is an associated company of Cheng
& Cheng Ltd. which is an accountant firm also located at the 10/F. of the
same building.
The subject has no employees in Hong Kong. We can reach nobody at your phone number
852-2742 6842 because it is a fax number.
The subject is an agent of Air Venture Sdn. Bhd. [Air Venture] of Malaysia. Air Venture is marketing a kind of electronic
product known as “Gastag2T”. “Gastag2T”
is a low cost assistant for all people using 2 stroke engines that require
pre-mixing of 2-stroke oil with gasoline.
However, this line of business is insignificant.
The subject also trades in diamonds and jewellery. This is due to the fact that Chan Boon Yong
is a prominent diamond jeweller from Malaysia, and
founder of The Carat Club. He is also
the Executive Chairman of the Club.
Upon graduating from the London School of Economics, Chan began his
career as an investment analyst. He left
to set up his own investment company before
starting Capital Diamonds International in Singapore. In 1997, he founded The Carat Club, a diamond
retail operation. The company has since
expanded into Singapore. In 2008, the
company launched The C. Club, a retail and restaurant concept in Pavilion Kuala
Lumpur.
Chan is considered one of Malaysia’s few corporate celebrities.
In 2010, Chan disposed all his businesses in Malaysia and tried to
penetrated the China market in full power.
In 2011, Chan’s Carat Club in Shanghai, China began operation. This is a retail shop selling all kinds of
diamond jewellery.
Besides, Chan has set up a technology workshop known as Gemalita which is engaged in designing diamond jewellery. According
to Chan, his diamond jewellery products are
manufactured in the workmanship of Malaysia, Italy designs and Germany
Standards.
Chan will open more Carat Club shops in China in the years ahead.
Carat Club’s polished and cut diamonds are imported from India, other
Asian countries, Europe, etc.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over two years.
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
-
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.
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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.
-
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.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 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.