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MIRA
INFORM REPORT
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Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
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Name : |
DAEMEX COMPANY LIMITED TAIWAN BRANCH (H.K.) |
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Registered Office : |
13f.-9, No.68, Sec. 4, Ren-Ai Rd., Da-An District, Taipei City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
21.10.2002 |
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Com. Reg. No.: |
80345694 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trade of jewelry and precious metal and the related products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
Moderate |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Taiwan |
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 |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
Notes:
The supplied name and address are incomplete, and the exact name and
address are as above.
Company Identification Details
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Registered Name: |
Daemex Company Limited
Taiwan Branch (H.K.) |
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Registered Address: |
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Date of Foundation: |
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Registration Number: |
80345694 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
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Registered Capital: |
(As of 2012.2, 1 NTD = 0.03352 USD) |
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Legal Representatives: |
Jethva Yogeshkumar Chakubhai |
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Legal Form: |
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Principal Activities: |
Trade of jewelry and precious metal and the related products. |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
The staff number is
not available from the subject or other sources.
History
Subject was incorporated on
Shareholders
The shareholder is
not available from the subject or other sources.
Subsidiaries & Branches
Parent Company
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Name |
DAEMEX COMPANY LIMITED |
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Date of Registration |
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Personnel Information
Core
Management
Directors
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1 |
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Name |
JETHVA YOGESHKUMAR CHAKUBHAI |
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Position |
Manager |
Operation Information
Offices
& Factories
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Headquarters |
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Add |
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Production
Information
l
Subject is a trader of jewelry and precious metal without any production activities
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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F115010 |
Wholesale of
jewelry and precious metal |
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F215010 |
Retail of
jewelry and precious metal |
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F401010 |
International trade |
l
Subject is mainly engaged in trading of jewelry and precious metal and the related
products.
l
Subject is a branch of
Daemex Company Limited located in Hong Kong.
l
Subject introduced that it
help Daemex Company Limited deal the business with the customers located in
Taiwan.
l
Subject declined to
disclose the information about subject, and from other sources, we couldn’t
obtain more details.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Subject declined
the settlements information, and from other sources, we couldn’t obtain the
information, either.
Financial Information
Subject has no obligations to disclose its financial statements to the third
party according to the relevant policy in Taiwan and the only source from which
we can obtain the information is the subject itself.
Subject’s relevant staff declined to disclose its financials citing the
grounds of company’s confidentiality; from other source we can not obtain the
relevant information, either.
Bankers
The bankers’ information is not available from the
subject or other sources.
Public Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
Interview Details
Note:
Subject’s staff declined to disclose her name.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
RATING EXPLANATIONS
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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 |
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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.