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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
IMACBC CO. LTD. |
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Registered Office : |
Room 1206B, 12/F., Tower 6, |
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Country : |
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Date of Incorporation : |
31.07.2006 |
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Com. Reg. No.: |
37008546 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of White gold products, diamonds, jewellery, etc. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 |
IMACBC CO. LTD.
ADDRESS: Room 1206B, 12/F., Tower 6,
China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 3779, 2723 6880
FAX: 2723 3711, 2723 0077
E-MAIL: imacbchongkong@yahoo.com.hk
imahashi@imacbc.co.jp
Managing Director: Mr. Toru
Imahashi
Incorporated on: 31st
July, 2006.
Organization: Private
Limited Company.
Capital: Nominal:HK$1,500,000.00
Issued: HK$1,500,000.00
Business Category: Diamond Trader.
Employees:
5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1206B, 12/F., Tower 6, China Hong Kong City, 33 Canton Road,
Tsimshatsui, Kowloon, Hong Kong.
China Factory:-
Foshan Shunde Jinqiao Jewellery Co. Ltd.
(Also known as Foshan Shunde Imahashi Jewellery Co. Ltd.)
60 Baichang Street, Xingfu Street, Ronggui, 528305 Shunde, Foshan City,
Guangdong Province, China.
[Tel: 85-757-2638 7998; Fax:
85-757-2638 7982]
Holding Company:-
Imacbc Co. Ltd.
11/F., Pacific City, Nishi-Shinjuku Building, 3-2-7 Nishi-Shinjuku,
Shinjuku-Ku, Tokyo 160-0023, Japan.
[Tel: 81-3-3344 1170; Fax:
81-3-3344 1171]
Associated Companies:-
Imacbc (Thailand) Co. Ltd., Thailand.
Imacbc Diamond Exports Private Ltd., India.
37008546
1063443
Managing Director: Mr. Toru
Imahashi
Contact Person: Ms. Wu Yi Mei
Nominal Share Capital: HK$1,500,000.00 (Divided into 1,500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
(As per registry dated 31-07-2011)
|
Name |
|
No. of shares |
|
Imacbc Co. Ltd. 11/F., Pacific Marks, Nishi-Shinjuku Building, |
|
1,499,999 |
|
Toru IMAHASHI |
|
1 |
|
|
|
–––––––– |
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Total: |
1,500,000 ======= |
(As per registry dated 31-07-2011)
|
Name (Nationality) |
Address |
|
Toru IMAHASHI |
11/F., Pacific City, Nishi-Shinjuku Building, 3-2-7 Nishi-Shinjuku,
Shinjuku-Ku, Tokyo, Japan. |
(As per registry dated 31-07-2011)
|
Name |
Address |
Co. No. |
|
Topworld Secretarial Ltd. |
7/F., Kin On Commercial Building, 49-51 Jervois Street, Sheung Wan,
Hong Kong. |
0574763 |
The subject was incorporated on 31st July, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat C, 13/F., Comfort Building,
88 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address with effect from 10th October, 2009.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: White
gold products, diamonds, jewellery, etc.
Employees: 5.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Japan
(main), Middle East, other Asian countries, Europe, etc.
Terms/Sales: As per
contracted.
Terms/Buying: L/C, T/T, D/P, etc.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKI0266]
Nominal Share Capital: HK$1,500,000.00 (Divided into 1,500,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,500,000.00
Profit & Loss: Making a small profit in the past years.
Condition: Business
is normal.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade
commitments on time.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Having issued 1,500,000 ordinary shares of HK$1.00 each, Imacbc Co. Ltd.
is a wholly-owned subsidiary of Imacbc Co. Ltd.
[Imacbc] which is a Japan‑based firm.
The subject is trading in jewellery and platinum jewellery with rare
gems such as demantoid garnet, conch pearl and raraiba toulmarine, etc. It has set up a factory in Shunde, Foshan
City, Guangdong Province, China.
Formally known as Foshan Shunde Jinqiao Jewellery Co. Ltd. [Jinqiao] (or known as Foshan Shunde Imahashi
Jewellery Co. Ltd.), the China factory is employing about 150 employees. Founded in September 2006, Jinqiao was put
into operation on 19th June, 2007.
The main products of Jinqiao are the followings:-
·
18K White Gold Diamond Ring (with different styles
and specifications)
·
18K White Gold Diamond Pendant (with different
styles and specifications)
Most of the products are exported to Japan. Imacbc was founded in Japan in March
1975. Since then, Imacbc has developed
more subsidiaries in different countries like Thailand, China and India while
the subject is one of the subsidiaries.
Imacbc usually markets its products via TV channels. It has been cooperating with Japan TV direct
sales channel QVC. Currently, it has
about 420 employees in Japan.
Imacbc’s India firm Imacbc Diamond Exports Private Ltd. was established in March 2008.
Located at 11/F., Pacific City, Nishi-Shinjuku Building 3-2-7 Nishi
Shinjuku, Shinjuku, Tokyo, Japan, Imacbc is trading in the following
commodities:-
·
Diamond Jewellery:
White Diamond Jewellery, Colour Diamond Jewellery
·
Semi Precious Gemstone Jewellery:
Agate Jewellery, Amber Jewellery, Amethyst Jewellery, Aquamarine Jewellery,
Beryl Jewellery, Cat’s eye Jewellery, Citrine Jewellery, Coral Jewellery,
Crystal Jewellery, Demantoid Jewellery, Garnet Jewellery, Jadeite Jewellery,
Jasper Jewellery, Mother of pearl Jewellery, Onxy Jewellery, Opal Jewellery,
Peridot Jewellery, Quartz Jewellery, Spinel Jewellery, Tanzanite Jewellery,
Topaz Jewellery, Tourmaline Jewellery, Turquoise Jewellery, etc.
Imacbc’s products are distributed over the world and highly rated by
customers. Its products are chiefly
provided by the subject’s factory in Foshan City, Guangdong Province, China.
The contact person of Imacbc in Japan is Mr. Asami Oishi who is a
Japanese. The contact person in Hong
Kong is Ms. Wu Yi Mei who is a Hongkongnese.
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 2012” which had been held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of
16th to 20th February, 2012. 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, having a history of over five years and nine months, is
fully supported by the Imacbc Group.
On the whole, consider it good for normal business engagements.
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.
-
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.54.29 |
|
|
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
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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 |
|
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 |
|
-- |
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.