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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
REAL HEART
LTD. |
|
|
|
|
Registered Office : |
Unit R, 1/F., |
|
|
|
|
Country : |
|
|
|
|
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Date of Incorporation : |
03.05.2011 |
|
|
|
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Com. Reg. No.: |
58301408 |
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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, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
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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 (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REAL HEART
LTD.
c/o Buttar.HK Ltd.
Unit R, 1/F., Mau
Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 2312 0148
FAX: 2375 6513
Managing
Director: Mr. Rahulkumar Dilipkumar
Gandhi
Incorporated on: 3rd May, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
REAL HEART
LTD.
Registered
Head Office:-
c/o Buttar.HK Ltd.
Unit R, 1/F., Mau
Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
58301408
1595334
Managing
Director: Mr. Rahulkumar Dilipkumar
Gandhi
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As per registry dated 16-05-2011)
|
Name |
|
No.
of shares |
|
GNL11
Ltd. Hong Kong. |
|
1 |
|
Rahulkumar Dilipkumar GANDHI |
|
9,999 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As per registry dated 16-05-2011)
|
Name (Nationality) |
Address |
|
Rahulkumar
Dilipkumar GANDHI |
Agarwal Building, Gurudev Farsan, Mart
Bhiwandi (W)‑421302, MS., India. |
(As per registry dated 16-05-2011)
|
Name |
Address |
Co.
No. |
|
Buttar.HK
Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
The
subject was incorporated on 3rd May, 2011 as a private limited liability
company under the Hong Kong Companies Ordinance.
Initially
the subject’s registered address was located at Room 1001-1004A, 10/F.,
Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong where
was the operating address of a secretarial firm known as GNL11 Ltd. The subject changed its registered address to
the present one with effect from 16th May, 2011 as it has changed its
commercial service provider since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds, etc.
Employees: Nil.
Commodities Imported: India, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, pre-payment, etc.
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
Alternation
of Capital:-
|
03-05-2011 |
paid up |
HK$ 1.00 |
|
16-05-2011 |
paid up |
HK$ 9,999.00 |
|
|
|
–––––––––––– |
|
Total |
paid up |
HK$ 10,000.00 =========== |
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly 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 10,000 ordinary shares of HK$1.00 each, Real Heart Ltd. is wholly-owned
by Rahulkumar Dilipkumar Gandhi who is an Indian. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Unit R,
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon,
Hong Kong known as Buttar.HK Ltd. which is handling its correspondences and documents. Buttar.HK Ltd. is also the corporate
secretary of the subject.
The
subject has no employees in Hong Kong.
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 associated company in India which is also
operated by Gandhi. The India firm is
also a diamond trader.
It
is likely that the India firm deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong. The India firm also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The
history of the subject in Hong Kong is just about a year.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, consider it good for business engagements on L/C basis.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.53.23 |
|
|
1 |
Rs.86.14 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.