MIRA INFORM REPORT

 

 

Report Date :           

13.03.2012

 

IDENTIFICATION DETAILS

 

Name :

KWALITY  DIAMONDS  (HK)

 

 

Registered Office :

Room 1306, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.03.1991

 

 

Com. Reg. No.:

14319429-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds, etc

 

 

No. of Employees :

03

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 30th, 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

KWALITY  DIAMONDS  (HK)

 

 

Company ADDRESS

 

Room 1306, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

PHONE:            2314 7822,  2314 8025

FAX:                 2314 7839

E-MAIL:                        kwalitydiamonds@hotmail.com

 

 

MANAGEMENT

 

Manager:  Mr. Jayesh Pravinchandra Kanakia

 

 

SUMMARY

 

Establishment:                          22nd March, 1991.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   3.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 1306, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

 

Associated Company:-

Kwality Diamonds (HK) Ltd., Hong Kong.  [Dissolved]

 

 

BUSINESS REGISTRATION NUMBER 

 

14319429-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Jayesh Pravinchandra Kanakia

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Jayesh Pravinchandra KANAKIA

Residential Address:      Flat G, 11/F., Imperial Building, 58 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 22nd March, 1991 as a sole proprietorship concern owned by Mr. Jayesh Pravinchandra Kanakia under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat G, 11/F., Imperial Building, 58 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to Block C, 8/F., Golden Mansion, 83-85 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in November 1992; to Room 1509, 15/F., Beverley Commercial Building, 87‑105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in June 1994; to Room 1405, 14/F., Fung Lee Commercial Building, 6-8 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in April 1998; to Room 1506, 15/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong in June 2004; and further moved to Room 1306, 13/F. of the same building in March 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of diamonds, etc.

 

Employees:                   3.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Japan, Taiwan, Southeast Asia, Europe, USA, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit in the past years.

 

Condition:                      Business is active.

 

Facilities:                      Making active use of general banking facilities.

 

Payment:                      Met trade commitments as contracted.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Kwality Diamonds (HK) is a sole proprietorship set up and owned by Mr. Jayesh Pravinchandra Kanakia who is an Indian.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is a diamond importer, exporter and wholesaler.  Commodities such as loose diamonds are chiefly imported from India and Israel.  Its main commodities are loose full-cut diamonds.  Some of the rough diamonds are polished or processed in Hong Kong or China.  Finished products and polished diamonds are exported or re-exported to Japan, Taiwan, Southeast Asia, Europe, the USA, etc.

The subject is famous for polished white diamonds with a variety range of cuts and sizes.  It is able to provide customers with consistent supply of diamonds with timely delivery.

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 took part in “HKTDC Hong Kong International Jewellery Show 2013” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 5th to 9th March, 2013.

The business of the subject is rather steady as regular suppliers and clients have been maintained.

The history of the subject in Hong Kong is about twenty-one years.

On the whole, consider it good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.94

UK Pound

1

Rs.78.25

Euro

1

Rs.65.39

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.