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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
UNI
DIAM |
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Registered Office : |
Room 1207, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.02.2003 |
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Com. Reg. No.: |
33385023-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit |
Not Available (In Absence of the financial of the company we are not
able to provide the credit limit of the company) |
|
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly
dependent on international trade and finance - the value of goods and services
trade, including the sizable share of re-exports, is about four times GDP. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, it again faces a possible slowdown as exports to
the Euro zone and US slump. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish RMB-denominated
savings accounts; RMB-denominated corporate and Chinese government bonds have
been issued in Hong Kong; and RMB trade settlement is allowed. The territory
far exceeded the RMB conversion quota set by Beijing for trade settlements in
2010 due to the growth of earnings from exports to the mainland. RMB deposits
grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011,
an increase of over 59% since the beginning of the year. The government is
pursuing efforts to introduce additional use of RMB in Hong Kong financial
markets and is seeking to expand the RMB quota. The mainland has long been Hong
Kong's largest trading partner, accounting for about half of Hong Kong's
exports by value. Hong Kong's natural resources are limited, and food and raw
materials must be imported. As a result of China's easing of travel
restrictions, the number of mainland tourists to the territory has surged from
4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other
countries combined. Hong Kong has also established itself as the premier stock
market for Chinese firms seeking to list abroad. In 2011 mainland Chinese
companies constituted about 43% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 56% of the Exchange's market capitalization.
During the past decade, as Hong Kong's manufacturing industry moved to the
mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011.
Credit expansion and tight housing supply conditions caused Hong Kong property
prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and
middle income segments of the population are increasingly unable to afford
adequate housing. Hong Kong continues to link its currency closely to the US
dollar, maintaining an arrangement established in 1983
|
Source
: CIA |
UNI DIAM
Room 1207, 12/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2723 2244
FAX: 2723 2254
E-MAIL: unidiam@rediffmail.com
Manager: Mr. Ritesh Raichand Hirawat
Establishment: 28th February, 2003.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$55~60 million.
Employees: 4.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
UNI DIAM
Head
Office:-
Room 1207, 12/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Company:-
Dharamchand
Paraschand Exports, India.
33385023-000-02
Manager: Mr. Ritesh Raichand Hirawat
Name: Mr. Ritesh Raichand HIRAWAT
Residential
Address:Flat C, 8/F., Winston Mansion, 121-123 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong.
The
subject was established on 28th February, 2003 as a sole proprietorship concern
owned by Mr. Ritesh Raichand Hirawat under the Hong Kong Business Registration
Regulations.
Initially
the subject was located at Flat C, 8/F., Winston Mansion, 121‑123 Chatham
Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June
2003.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 4.
Commodities Imported: India, Belgium, other European countries, US, etc.
Markets: Japan, India, other Asian countries, Europe, US, etc.
Annual Turnover: HK$55~60 million.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, Advanced T/T, D/P, etc.
Capital: Not disclosed.
Profit or Loss: Making a small profit in the past years.
Condition: Business is rather steady.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Uni
Diam is a sole proprietorship set up and owned by Mr. Ritesh Raichand Hirawat
under the Hong Kong Business Registration Regulations.
Being
an Indian and Manager of the subject, Hirawat is a Hong Kong ID Card holder and
has got the right to reside in Hong Kong permanently. He can be reached at his mobile phone number
852-9049 0962.
The
subject is trading in gems, jewellery, loose diamonds, carat size diamonds,
emerald, precious stones, etc. Rough and
polished diamonds are imported from India, Belgium and the United States. Rough diamonds are polished or processed
either in Hong Kong or China. Its main
diamond jewellery is diamond necklaces.
Polished
diamonds are exported to China, Japan, South Korea, other Asian countries,
Europe and the United States. The
subject is also a commission agent.
Business has been normal and steady.
The
subject’s main products are asscher cut, baguette, emerald cut, heart shape,
marquise, oblong, oval shape, pear shape, princess cut, round brilliant, taper,
tapered baguette, trilliant, etc. It is
specialized in round brilliant and princess-cut diamonds. Sizes of diamond range from 0.005 to 1 carat
(can be certified or non-certified).
Some are round brilliants and 10 points up in princess cuts. The subject also sells polished white
diamonds and polished colour diamonds.
The
subject has got an affiliated company in India known as Dharamchand Paraschand
Exports. This firm is also a diamond
trader. Dharamchand Paraschand Exports
seems to be the subject’s main supplier in India.
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. The significant one is “Hong Kong
International Jewellery Show” which is held in Hong Kong annually.
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. 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
annual sales turnover of the subject ranges from HK$55 to 60 million. Making a small profit every year.
As
the history of the subject in Hong Kong is over nine years and six months, on
the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.90 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.00 |
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.