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Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
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Name : |
RAHA IMPEX
HK LTD. |
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Registered Office : |
Room 501, 5/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.09.2010 |
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Com. Reg. No.: |
53018664 |
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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 and jewellery products, etc, |
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No. of Employees : |
2. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
RAHA IMPEX
HK LTD.
ADDRESS: Room 501, 5/F., Hart Avenue Plaza, 5-9 Hart
Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2311 5288
FAX: 2311 7599
MANAGEMENT:
Mr. Aditya Rathi
Incorporated
on: 22nd September, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$900,000.00
Business Category:
Diamond Trader.
Employees: 2.
Main Dealing
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Head Office:-
Room 501, 5/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
53018664
1508149
Managing Director: Mr. Aditya Rathi
Nominal Share
Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$900,000.00
(As per registry dated 22-09-2012)
|
Name |
|
No.
of shares |
|
Aditya
RATHI |
|
300,000 |
|
Aman
SHARDA |
|
300,000 |
|
Ankit SHARDA |
|
300,000 |
|
|
|
––––––– |
|
|
Total: |
900,000 ====== |
(As per registry dated 25-01-2013)
|
Name (Nationality) |
Address |
|
Aman SHARDA |
Apartment Redtop JL. Pecenongan 72, Rt.
002/004, Kebon Kelapa Gambir Jakarta Pusat, Indonesia. |
|
Ankit SHARDA |
D 58 Ext 1, Opp. Pratap Nagar Police
Station, Kamla Nehru Nagar Jodhpur, India. |
(As per registry dated 22-09-2012)
|
Name |
Address |
Co.
No. |
|
C K
Registrations Ltd. |
Room 902, 9/F., Bank Centre, 636 Nathan Road, Kowloon, Hong Kong. |
0803965 |
The
subject was incorporated on 22nd September, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Flat G, 7/F., Windsor Mansion, 17 Austin Avenue,
Timshatsui, Kowloon, Hong Kong, moved to the present address in October
2011. Now the old address is occupied by
a firm known as Best Profit Group Ltd. which has nothing to do with the
subject.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds
of diamonds and jewellery products, etc,
Employees: 2.
Commodities
Imported: India, other Asian
countries, etc.
Markets: Indonesia, other Asian
countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, advanced T/T,
D/P, etc.
Nominal Share
Capital: HK$3,000,000.00
(Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$900,000.00
Profit or Loss:
Keeping a balance
account in 2012.
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 900,000 ordinary shares of HK$1.00 each, Raha Impex HK Ltd. is equally
owned by Mr. Aditya Rathi, Mr. Aman Sharda and Mr. Ankit Sharda. The first Two are also directors of the
subject. The first is an India passport
holder and the second is an Indonesia passport holder. Currently all of them are not in Hong
Kong. The subject’s representative in
Hong Kong can be reached at his mobile phone number 852-6398 5168.
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, Indonesia and the other Asian countries. Business is still under development.
It
is likely that Mr. Aman Sharda is operating a diamond trading firm in
Indonesia. On the other hand, Mr. Ankit
Sharda and Mr. Aditya Rathi are operating another diamond trading firm in India
as well.
The
Indonesia and India firms deal with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong.
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 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.
According
to the subject, all its shareholder will be in Hong Kong when the show begins.
The
history of the subject in Hong Kong is just over two years.
On
the whole, since the history of the subject is short in Hong Kong, consider it
good for normal business engagements on L/C basis or in very small credit
amounts.
DIAMOND INDUSTRY –
INDIA
-
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.
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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.
-
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.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.