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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
S.T. INTERNATIONAL |
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Registered Office : |
C/o Akin CPA Ltd. 20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.06.2011 |
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Com. Reg. No.: |
58390077-003-05 |
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Legal Form : |
Private Limited Liability Company
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LINE OF BUSINESS : |
IT IS LIKELY THAT THE SUBJECT IS A DIAMOND IMPORTER, EXPORTER
AND WHOLESALER. IT IS TRADING IN
LOOSE, POLISHED AND CUT DIAMONDS. (UNCONFIRMED) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
S.T. INTERNATIONAL
ADDRESS:
Registered Office:-
c/o Akin CPA Ltd.
20/F., Champion Building, 287-291 Des Voeux
Road Central, Sheung Wan, Hong Kong.
Parent Company:-
Vinco Ltd., Hong Kong. (See attachment)
Sister Companies:- (Same address
and same BR No.)
HK Trading Co., Hong Kong. [Also established
on 03-06-2011 and owned by Vinco Ltd. under the BR
No. 58390077-001-05. Name changed from Kum Kum Trading FZC to the
present style on 04‑08‑2011.]
Oracle Impex, Hong Kong. [Also established on 03-06-2011 and owned by Vinco Ltd. under the BR No. 58390077-002-05.]
Associated Companies:- (Same
address)
S S S Ltd., Hong Kong.
[Business name: S.T. International (BR No. 52208834-001)]
Supreme Base Corporation Ltd., Hong Kong. [Business names: Star Line International and
Vibrant International] (Same address)
58390077-003-05
3rd June, 2011.
Vinco Ltd., Hong Kong.
S.T. International was established on 3rd June, 2011 as one of the
business names of Vinco Ltd. [Vinco]
which was incorporated on 20th May, 2011.
Vinco is a private limited liability company
set up under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service
firm located at 20/F., Champion Building, 287-291 Des Voeux
Road Central, Sheung Wan, Hong Kong known as Akin CPA
Ltd. [Akin] which is handling its correspondences and documents. This firm is also the corporate secretary of Vinco. Vinco is also located at the above‑mentioned
address. The subject has no employees in
Hong Kong.
Vinco has had two more business names known as HK
Trading Co. and Oracle Impex. Both are Hong Kong-registered firms and also
located at the above-mentioned address.
According to the Companies Registry of Hong Kong, Vinco
has issued just one ordinary share of HK$1.00 which is owned by Company Kit
Secretarial Services Ltd. It is also a
commercial service provider in Hong Kong.
The director of Vinco Arvind
Kumar Soni is an Indian. He is also the only director of Vinco. He is an
India passport holder and does not have the right to reside in Hong Kong
permanently. Soni
is also the manager of the subject. The
manager of the subject cannot be reached as he is in India.
The subject’s lines of business are unknown since the secretarial firm
declined to divulge any information about it.
It is likely that 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, Japan and the other Asian countries. Business is still under development.
It is likely that the subject has got an affiliated company in India
which is operated by Soni, however, details are unknown.
The India firm is doing business with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong.
Soni is also the director of another firm
Supreme Base Corporation Ltd. This firm
is also located at the operating office of Akin.
The subject’s history in Hong Kong is just about eight months.
Since the subject does not have its own operating office, history is
short and has no employees in Hong Kong, consider it good for business
engagements on fully secured terms.
VINCO LTD.
(Business names: HK TRADING CO., ORACLE IMPEX and S.T. INTERNATIONAL)
ADDRESS: 20/F., Champion Building,
287-291 Des Voeux Road Central, Sheung
Wan, Hong Kong.
58390077
1604144
20th May, 2011
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 20-05-2011)
|
Name |
|
No. of share |
|
Company Kit Secretarial Services Ltd., Hong Kong. |
|
1 = |
(As per registry dated 02-08-2011)
|
Name (Nationality) |
Address |
|
Arvind Kumar SONI |
Azad Mohalla, VPO-Bijai Nagar-305624, Distt-Ajmer,
Rajasthan, India. |
(As per registry dated 03-06-2011)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux
Road Central, Sheung Wan, Hong Kong. |
1273165 |
Initially the subject was located at Unit A, 3/F., Cheong
Sun Tower, 116‑118 Wing Lok Street, Sheung Wan, Hong Kong, moved to the present address with
effect from 3rd June, 2011.
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.
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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.
-
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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.