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Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
RIO STAR |
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|
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Registered Office : |
c/o Hong Kong Consulting Business Centre Room M16, 2/F., Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.03.2007 |
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Com. Reg. No.: |
37757426-000-03 |
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Legal Form : |
Sole Proprietorship. |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS AND GEMS |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
Payment Behaviour : |
Unknown |
|
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 |
RIO STAR
c/o Hong Kong Consulting Business Centre
Room M16, 2/F., Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong.
PHONE: 2723 7775 9632 9746
FAX: 3904 4305
E-MAIL: info@riostarhk.com
riostarhk@yahoo.com
riostarhk@hotmail.com
Manager: Mr. Lalit Jivraj Patel
Establishment: 27th March, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
RIO STAR
Registered
Office:-
c/o Hong Kong Consulting Business Centre
Room M16, 2/F., Phase 3, Kaiser Estate, 11 Hok Yuen Street,
Hung Hom, Kowloon, Hong Kong.
Affiliated
Companies:- (Same address)
Raha Impex H.K., Hong Kong.
Vriti Diam (HK) Ltd., Hong Kong.
Vriti Diam, Hong Kong.
Zenia, Hong Kong.
37757426-000-03
Manager: Mr. Lalit Jivraj Patel
Name: Mr. Lalit Jivraj PATEL
Residential Address: Flat D,
11/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 27th March, 2007 as a sole proprietorship
concern owned by Mr. Lalit Jivraj Patel under the Hong Kong Business
Registration Regulations.
Originally the subject was located at Flat D, 11/F., Windsor Mansion, 29‑31 Chatham
Road, Tsimshatsui, Kowloon, Hong Kong where is the residential address of the
proprietor, moved to Room 404B, 4/F., Fu Hang Industrial Building, 1 Hok Yuen
Street, Hunghom, Kowloon, Hong Kong in October 2008, to Flat H, 13/F.,
Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in March
2010, and further to the present address in May 2012.
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 gems.
Employees: Nil.
Commodities Imported: India,
Europe, etc.
Markets: Hong
Kong, Japan, India, Southeast Asia, etc.
Terms/Sales: L/C, or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not
disclosed.
Profit or Loss: Made
a small profit in past years.
Condition: Business is normal.
Facilities: Making
fairly 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.
Rio Star is a sole proprietorship owned by an Indian Mr. Lalit Jivraj
Patel. The subject’s old registered
address was the residence of Patel. He
is a Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently.
The subject’s latest registered address is in a business centre located at
Room M16, 2/F., Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong. The subject may have a booth
in this business centre.
In Hong Kong, Mr. Lalit Jivraj Patel can be reached at his mobile phone
number 96329746. He is still residing at
Flat H, 13/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong
Kong where was the old operating address of the subject.
A diamond trading firm Vriti Diam and Vriti Diam (HK) Ltd. is owned and
operated by Bhavesh Narasi Patel. It
seems that Bhavesh Narasi Patel and Lalit Jivraj Patel belong to the same
family.
Business commenced in March 2007, the subject is a diamond and gem
importer, exporter and wholesaler. It is
trading in loose diamonds, emerald, precious stones, ruby jade, gem sets,
semi-precious stones, etc. According to
the subject, it is specialised in the following diamonds:-
Colour: White, TTLB, TTLC White
Natts
Shape:
·
Clarity — VVS, VS, SI, I1, I2, I3;
·
Full Cut — Round, Marquise, Princes, Tappers and
Buggets;
·
Rose Cut — Round, Marquise, Pear, Oval;
·
Single Cut — Round; &
·
Size — from 0.01 - 3.00 cts size GIA, HRD.
Products are imported from India, Belgium and other European
countries. Finished products and
polished diamonds are marketed in Hong Kong, exported to Japan, India and the
other Asian countries. Business is
normal. The subject has had a
manufacturing factory in India.
According to the subject, it has got sales offices in the United States,
Thailand and Mumbai of India. Its
markets now include the United States, China, Thailand, Japan, Taiwan, Vietnam,
the Philippines, Indonesia, Malaysia, etc.
To our knowledge, Lalit Jivraj Patel is operating another firm known as
Trisha Trading HK which is trading in raw cotton. However, we cannot find the registration of
Trisha Trading HK in Hong Kong.
The subject’s business is chiefly handled by Mr. Lalit Jivraj Patel
himself.
Since the history of the subject is about six years, on the whole,
consider it good for normal business engagements in small credit amounts or on
L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.