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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Name : |
S. GOLDI
( |
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Registered Office : |
Room 901, 9/F., Chevalier House, |
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Country : |
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Date of Incorporation : |
30.04.2007 |
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Com. Reg. No.: |
37907085 |
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Legal Form : |
Private Limited Company |
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Line of business : |
Importer, exporter and wholesaler of polished diamonds, jewellery, etc. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
S. GOLDI
(ASIA) LTD.
Room 901, 9/F.,
Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 3170 5172
FAX: 3171 4224
E-MAIL: info@sgoldi.com
Managing
Director: Mr. Mansukhbhai Bhikhabhai
Budheliya
Incorporated on: 30th April, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$5,000,000.00
Business Category: Diamond Trader.
Annual Turnover: US$30~35 million.
Employees: 15.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Head Office:-
Room 901, 9/F.,
Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Associated/Affiliated
Companies:-
D. Goldi BVBA, Belgium.
Jewel Goldi (India), India.
M B Impex Ltd., Hong Kong.
M B Impex, Hong Kong.
R. Goldi (Shanghai) Diamond Co. Ltd., China.
S.Goldi, Hong Kong. (Same address)
Shree Ramkrishna Export Pvt. Ltd., India.
The Jewelry Co., India.
TJC Jewelry Inc., USA.
V. Goldi Ltd., Israel.
etc.
37907085
1128283
Managing
Director: Mr. Mansukhbhai Bhikhabhai
Budheliya
Nominal Share
Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$5,000,000.00
(As per registry dated 26-07-2011)
|
Name |
|
No.
of shares |
|
Mansukhbhai Bhikhabhai BUDHELIYA |
|
5,000,000 ======= |
(As per registry dated 01-04-2012)
|
Name (Nationality) |
Address |
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Mansukhbhai
Bhikhabhai BUDHELIYA |
Flat A, 12/F., Golden Mansion 83-85,
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
|
Nileshkumar
Popatbhai CHANCHAD |
Flat G, 10/F., Kimberley Mansion, 15
Austin Avenue, Tsimshatsui, Kowloon, Hong Kong. |
(As per registry dated 01-08-2011)
|
Name |
Address |
|
Bayani
Divino Bautista PONCE |
Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung,
Lantau Island, Hong Kong. |
The
subject was incorporated on 30th April, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Unit K2, 12/F., Kaiser Estate, Phase 2, 51 Man
Yue Street, Hunghom, Kowloon, Hong Kong, moved to Unit 03 & 05, 12/F.,
Multifield Plaza, 3 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in late
2010, and further to the present address with effect from 28th October, 2011.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Polished diamonds, jewellery, etc.
Employees: 15.
Commodities Imported: Belgium, India, Israel, etc.
Markets: Belgium, USA, other Asian countries, Australia, Middle East, etc.
Annual Turnover: US$30~35 million.
Terms/Sales: As per contracted.
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$5,000,000.00
Alternation
of Capital:-
|
Initially |
paid up |
HK$ 1,000,000.00 |
|
26-07-2011 |
paid up |
HK$ 4,000,000.00 |
|
|
|
––––––––––––––– |
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Total: |
paid up |
HK$ 5,000,000.00 ============= |
Increase
of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$10,000,000.00 |
on |
26-07-2011 |
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Having
issued 5 million ordinary shares of HK$1.00 each, S. Goldi (Asia) Ltd. is
wholly owned by Mr. Mansukhbhai Bhikhabhai Budheliya. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
The
subject increased its issued share capital from HK$1 million to HK$5 million in
July 2011.
The
subject is a diamond trader. It is an
affiliated company of Shree Ram Krishna Export [SRKE] which was set up in 2004
in India. The founder of SRKE Govind
Dholakia is also the Chairman of the SRKE Group of companies.
The
subject is trading in the same products as SRKE. It is responsible for the markets of the Asia
Pacific region. Its core products are
loose diamonds, fancy diamonds, carat size diamonds, certified stones — GIA
Dossiers ad GIA up to 3 carats. Other
products include ladies’ ring, feather shape jewellery, etc.
SRKE
is one of India’s leading diamond manufacturers. SRKE is trading in diamonds, ranging from
0.30 to 3.00 carats in weight and D to J colours. Founded in 1976 by Govind Dholakia, SRKE
today has a 5,000 strong dedicated and talented workforce.
In
2003, SRKE established its own jewellery outlet, Jewel Goldi, at Seepz, Mumbai,
to make diamond-studded jewellery for international markets. In 2004, SRKE set up Jewel Goldi (India), at
MIDC, Mumbai, to serve the domestic market.
SRKE
provides the subject will all kinds of diamonds and jewellery products.
SRKE
is also operated by Mr. Mansukhbhai Bhikhabhai Budheliya. Besides Hong Kong, the Group now has
affiliated companies in Israel, the United States, India, Belgium, China, etc.
In
2010, “srkexport.com” was registered as a company in Hong Kong with a Tag line
– “a diamond mine online”, to cater to the China market and extend SRKE’s
online services to the other Asian countries.
In
2011, SRKE was awarded by GJEPC for the 2nd Rank in Highest exports of “Cut and
Polish Diamonds” for the year 2010-2011 by Shri Narendra Modi, Chief Minister
of Gujarat, Mr. Rajiv Jain, Chairman of GJEPC.
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in Hong Kong, Macau and other foreign large
cities such as Las Vegas. For instance,
it took part in “HKTDC Hong Kong International Jewellery Show 2012” which
had been held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 16th to 20th February, 2012. Besides, it is going to take 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
subject is fully supported by SRKE.
As
the history of the subject in Hong Kong is over five years, on the whole,
consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
24-08-2011 |
Instrument: Mortgage Property: 196/19,060th parts or shares of and in The
Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No.
8670, Kowloon Inland Lot No. 8567 and Kowloon Inland Lot No. 7074 (Unit 1 on
9/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
All moneys |
|
10-02-2012 |
Instrument: Deed
of Confirmation and Rectification Property: 196/19,060th parts or shares of and in The
Remaining Portion of Kowloon Inland Lot No. 7072, Kowloon Inland Lot No.
8670, Kowloon Inland Lot No. 8567 and Kowloon Inland Lot No. 7074 (Unit 1 on
9/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
All moneys |
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.53.84 |
|
UK Pound |
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.