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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
LUKHI DIAM HK LTD. |
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Registered Office : |
Room 602, 6/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.04.2010 |
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Com. Reg. No.: |
52068537 |
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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, emerald, precious stones, etc. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRAs 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 : |
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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
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 |
LUKHI DIAM
HK LTD.
ADDRESS: Room 602, 6/F., Hart Avenue
Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2739 9292
FAX: 2739 9291
E-MAIL: mail@lukhidiam.com
Managing Director: Mr. Sanjaykumar
Mohanbhai Kevadia
Incorporated on: 12th
April, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$7,800,000.00
Business Category: Diamond Trader.
Employees:
3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 602, 6/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated/Affiliated Companies:-
H. Sherul & Co., India.
Kiran Star Ltd., Hong Kong. (Same
address)
Lukhi Diam (Israel) Ltd., Israel.
Lukhi Diam BVBA, Belgium.
T.G.B.R. DMCC, UAE.
52068537
1441551
Managing Director: Mr.
Sanjaykumar Mohanbhai Kevadia
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
(As per registry dated 12-04-2011)
|
Name |
|
No. of shares |
|
Sanjaykumar Mohanbhai KEVADIA |
|
7,800,000 ======= |
(As per registry dated 12-04-2011)
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Name (Nationality) |
Address |
|
Sanjaykumar Mohanbhai KEVADIA |
Flat A, 9/F., Wah Fai Mansion, 38-40 Granville Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 12-04-2011)
|
Name |
Address |
|
Bayani Divino Bautista PONCE |
13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
The subject was incorporated on 12th April, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Initially the subject was located at Unit B, 12/F., Granville House,
41C & D Granville Road, Tsimshatsui, Kowloon, Hong Kong,
moved to the present address with effect from 6th October, 2010.
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, emerald, precious stones, etc.
Employees: 3.
Commodities Imported: India, other Asian countries, etc.
Markets: Japan,
other Asian countries, Europe, Middle East, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
Alternation of Capital:-
|
12-04-2010 |
paid up |
HK$ 1,000,000.00 |
|
18-04-2011 |
paid up |
HK$ 6,800,000.00 |
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Total: |
paid up |
HK$ 7,800,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
18-04-2011 |
Profit or Loss: Making a small profit in 2011.
Condition: Business
is improving.
Facilities: Making
rather 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 7.8 million ordinary shares of HK$1.00 each, Lukhi Diam HK
Ltd. is wholly-owned by Mr. Sanjaykumar Mohanbhai Kevadia who is an
Indian. He is an India passport and also
a Hong Kong ID Card holder who has got the right to reside in Hong Kong
permanently. Kevadia is also the only
director of the subject.
Business commenced in April 2010, the subject is a loose diamond
trader. It is engaged in manufacturing
loose diamonds like marquise, pears, tappers, buggets and rose cut
diamonds. Most of the commodities are
imported from Mumbai, India. Prime
markets of the subject are Hong Kong, Japan, Taiwan, other Asian countries,
etc. Business is still under
development.
The subject is one of the members of the Lukhi Group. The Group is trading in the following
commodities:-
·
Rough Diamonds
·
Polished Diamonds
·
Jewellery
Besides the subject, Lukhi Group has set up offices in India, Belgium,
Israel, Dubai of the United Arab Emirates.
The Group has had a plant covering an area of about 47,000 sq.ft. in
Mumbai, India. The Groups products are
IGI and GIA certified. Business has been
expanding.
The individual secretary of the subject Bayani Divino Bautista Ponce is
also an Indian who is a Hong Kong ID Card holder. To our knowledge, Ponce is also the secretary
of a number of Indian firms in Hong Kong besides the subject. Ponce is also a director of Facets Hong Kong
Ltd. which is a Hong Kong registered firm located at the same building of
the subject. Facets Hong Kong Ltd. is
also a diamond trader.
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.
The history of the subject in Hong Kong is just over a year and ten
months.
On the whole, since the subjects history is short in Hong Kong,
consider it good for normal business engagements on L/C basis.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.