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Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TOP STAR ASIA LTD. |
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Registered Office : |
Suite F, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui,
Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.10.2006 |
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Com. Reg. No.: |
37437327 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Diamond Importer, Exporter and Wholesaler of All kinds of diamonds and
jewellery products, precious stones, etc. |
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No. of Employees : |
03 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
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 |
TOP STAR ASIA LTD.
Suite F, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon,
Hong Kong.
PHONE: 2721 6072, 2721 6069,
9605 5313
FAX: 2721 6074
E-MAIL: info@tsalonline.com
topstar@gmail.com
Managing Director: Mr. Rishi
Udayram Lohia
Incorporated on: 20th October, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TOP STAR ASIA LTD.
Registered Head
Office:-
Suite F, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon,
Hong Kong.
37437327
1081868
Managing Director: Mr. Rishi
Udayram Lohia
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 20-10-2012)
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Name |
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No. of shares |
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Rishi Udayram LOHIA |
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10,000 ===== |
(As per registry dated 20-10-2012)
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Name (Nationality) |
Address |
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Rishi Udayram LOHIA |
Flat B2, Block B, Burlington House, 19 Nathan Road, Kowloon, Hong
Kong. |
(As per registry dated 20-10-2012)
|
Name |
Address |
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Bayani Divino Bautista PONCE |
Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung,
Hong Kong. |
The subject was incorporated on 20th October, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 303, 3/F., Golden Gate
Commercial Building, 136-138 Austin Road, Tsimshatsui, Kowloon, Hong Kong
where is the operating office of commercial service provider Folder Secretarial
Services Ltd., moved to Suite F, 2/F., Cameron Plaza, 23‑25A Cameron
Road, Tsimshatsui, Kowloon, Hong Kong in October 2009, and further moved to
Suite F, 7/F. of the same building in late 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond Importer, Exporter and
Wholesaler.
Lines: All kinds of diamonds and jewellery products,
precious stones, etc.
Employees: 3.
Commodities Imported: India,
Belgium, other European countries, etc.
Markets: Japan, other Asian countries,
Europe, Middle East, etc.
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: L/C, T/T, D/P, 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
Mortgage or
Charge:-
Date of Assignment of Life
Insurance: 19-08-2011
Amount: All and any
monies and liabilities
Property: (i) all the
Assignor’s claim, options, privileges, right, title interest and benefit in and
under the Insurance; and (ii) all the Assignor’s claims and rights against the
issuer of the Policy
Mortgagee: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
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.
Having issued 10,000 ordinary shares of HK$1.00 each, Top Star Asia Ltd.
is wholly-owned by Mr. Rishi Udayram Lohia who is an Indian. Lohia is also the only director of the
subject. He has become a Hong Kong ID
Card holder and has got the right to reside in Hong Kong permanently.
The subject moved to the present address in late 2010.
The subject is a diamond importer, exporter and wholesaler. It is trading in single-cut diamond, full-cut
loose diamond, carat size diamonds, etc.
It also sells GIA certified diamonds.
Most of the commodities are imported from India and Europe. Prime markets are Hong Kong, Japan, other
Asian countries, the Middle East, etc.
The subject’s business is chiefly handled by Lohia himself He can be reached at his mobile phone number
9605 5313. Business keeps on improving.
The subject has had associated offices in Japan, the United States and
the United Kingdom.
In order to expand its business further, the subject also sells its
products online.
The subject’s new individual secretary Bayani Divino Bautista Ponce was
appointed in August 2010. He is also an
Indian and acting as an individual secretary for a number of diamond trading
firms in Hong Kong.
In order to penetrate the international market further, the subject is
preparing to taken part in fairs and exhibitions held in Hong Kong and other
foreign large cities. For instance, 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 history of the subject is over six years in Hong Kong.
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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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 –
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Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
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The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.67 |
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1 |
Rs.100.65 |
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Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.