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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
LOPEZ DIAMOND CO. LTD. |
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Registered Office : |
Flat D, 5/F., Victoria Mansion, 6-14 Gordon Road, North Point |
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Country : |
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Date of Incorporation : |
07.03.1989 |
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Com. Reg. No.: |
12720694 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Loose diamond trader |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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Source : CIA |
LOPEZ DIAMOND CO.
LTD.
Flat D, 5/F.,
PHONE: 6448 8378
FAX: Not available
Managing Director: Mr. Sia Kwok
Ka, Charles
Incorporated on: 7th March, 1989.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$3.00
Business Category: Diamond
Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
LOPEZ DIAMOND CO.
LTD.
Registered
Office:-
Flat D, 5/F.,
12720694
0244636
Managing Director: Mr. Sia Kwok
Ka, Charles
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$3.00
(As per registry dated 07-03-2012)
|
Name |
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No. of shares |
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SIA Kwok Ka, Charles |
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1 |
|
Elesio O. LOPEZ |
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2 |
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–– |
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Total: |
3 = |
(As per registry dated 07-03-2012)
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Name (Nationality) |
Address |
|
SIA Kwok Ka, Charles |
Flat D, 5/F., Victoria Mansion, 6-14 Gordon Road, North Point, Hong
Kong. |
|
Elesio O. LOPEZ |
Flat D, 5/F., Victoria Mansion, 6-14 Gordon Road, North Point, Hong
Kong. |
(As per registry dated 07-03-2012)
|
Name |
Address |
|
SZETO Sui Yee, Stella |
Flat D, 5/F., Victoria Mansion, 6-14 Gordon Road, North Point, Hong
Kong. |
The subject was incorporated on 7th March, 1989 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Covitex Ltd.,
name changed to the present style on 27th October, 1989.
The subject moved to the present address in October 2006.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: Loose
diamond trader.
Employees: Nil.
Commodities Imported: India,
Israel, Belgium, etc.
Markets: Hong
Kong, China, Europe, US, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
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$3.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
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: Small.
Having issued 3 ordinary shares of HK$1.00 each, Lopez Diamond Co. Ltd.
is jointly owned by Mr. Charles Sia Kwok Ka, holding one share; and
Ms. Elesio O. Lopez, holding two shares.
They are also directors of the subject.
The latter is a Philippines passport holder. The subject is named after Elesio O.
Lopez. They are a couple.
The subject does not have its own operating office. Its registered and operating address is in
the residence of the shareholders.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories. However, Mr. Charles Sia Kwok Ka can be
reached at his mobile phone number 6448 8378.
The subject has no employees in Hong Kong.
The subject has set up a subsidiary known as Diamant Ltd.
[Diamant]. However, Diamant has not
registered with the Companies Registry of Hong Kong. It is likely that Diamant is in the Philippines. Diamant was formed to cater to the high-end
fine jewellery market and is a loose diamond and jewellery design studio
specialized in GIA and EGL certified diamonds.
Diamant has been a leading supplier of loose diamonds for over 35 years,
serving wholesale customers exclusively.
Diamant is a subsidiary of the subject, it was claimed.
Diamant is an industry pioneer in offering a complete jewellery design
studio from stone selection, designing, and manufacturing using the latest
jewellery designing technologies.
The subject a supplier of loose diamonds serving chiefly wholesale customers
both in Hong Kong and abroad. All
diamonds are sourced directly from cutting centres in Israel, Belgium, and
India. Export markets include Europe,
the United States, and some of the Asian countries.
The subject has got an associated company bearing the same name in the
Philippines. It also has had an office
in Canada. The Canada firm is known as
Ace Diamond Trading Corporation.
The business of the subject is chiefly handled by the two shareholders.
As the history of the subject is over twenty-three years in Hong Kong,
on the whole, consider it good for normal business engagements in small credit
amounts.
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.
-
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.55.08 |
|
UK Pound |
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.