|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIV DIAMOND |
|
|
|
|
Registered Office : |
Room 7, 11/F, Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hung
Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
07.11.1993 |
|
|
|
|
Com. Reg. No.: |
17546061 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture, import and export of jewellery & gemstone |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 levies
excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012,
an increase of 59% from the previous 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 34.9
million in 2012, 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 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% 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, and less than 2% in 2012.
Credit expansion and tight housing supply conditions caused Hong Kong property
prices to rise rapidly and inflation to rise 4.1% in 2012. 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 |
|
Subject's Registered Name (in English ~ Chinese): |
SHIV DIAMOND |
|
Business Registration No. (BR No.): |
17546061 |
|
Subject's Business Name (in English ~ Chinese): |
N/A |
|
Registered Address: |
Room 7, 11/F, Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hung
Hom, Kowloon, Hong Kong. |
|
Previous 1 Address: |
Room L-1, 7/F, Kaiser Estate, Phase II, 4 Man Yue Street, Hung Hom,
Kowloon, Hong Kong. |
|
Previous 2 Address: |
11-F, Henley House, 68-80 Canton Road, Tsim Sha Tsui, Kowloon, Hong
Kong. |
|
Date Of Change: |
6 Nov 2000 |
|
Previous 3 Address: |
Room 1205, 12/F, Winfield Commercial Building, 6-8A Prat Avenue, Tsim
Sha Tsui, Kowloon, Hong Kong. |
|
Date Of Change: |
24 Jan 2002 |
|
Operating/Business Address: |
Room 7, 11/F, Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hung
Hom, Kowloon, Hong Kong. |
|
Telephone: |
23751317 |
|
Fax: |
23177903 |
|
Email: |
sanjay@shivdiamond.com; info@shivdiamond.com |
|
Website: |
www.shivdiamond.com |
|
Branch 1 Name: |
001) R K Designs (date of cessation 30 Sep 2008) |
|
Date Commenced: |
02 May 2007 |
|
Branch 1 Address: |
Flat L1, 7/F, Kaiser Estate, Phase 2, 51 Man Yue Street, Hung Hom,
Kowloon, Hong Kong. |
|
NACE - Code & Industry: |
C32.1.2 - Manufacture of jewellery and related articles |
|
Certification: |
N/A |
|
Business/Industry Trend: |
Fairly Steady |
|
Public Filings Compliance: |
No Data Available |
|
NACE stands for "Nomenclature Generale des Activites Economiques
dans I`Union Europeenne" (General Name for Economic Activities in the
European Union). NACE code system is the European standard for industry
classifications and was introduced in 1970. In 1990 a revised version became
applicable. The latest 2008 version is based on "International Standard
Industrial Classification of all economic activities" (ISIC) of the
United Nations. The codes start with numeric (e.g. 1. Agriculture, forestry
and fishing) are from the 1990 version and those ones start with alphabet
(e.g. A - Agriculture, forestry and fishing) are from the latest 2008
version. |
|
Public Filings Compliance - looks into a number of compliance requirements
such as whether Subject is promptly filing its annual return (e.g. within 42
days after the anniversary of the date of incorporation (for private
companies having a share capital); whether Subject's individual director is
reporting a residential address and/or whether Subject is reporting its
status under the Mortgage and Charges section for Total Amount
Outstanding.... etc. |
Subject is an established sole proprietorship jewellery & gemstone
manufacturer, importer and exporter possessing reasonable operational
experience and market base to meet its normal commitment.
The TCA is an opinion of the company's capability and ability based on
prevailing conditions and information made available to Total Credit at the
time of appraising.
The TCA is not a recommendation to buy or sell nor is it an endorsement
or non- endorsement of an issue.
The information received has been obtained from sources believed to be
reliable, but its accuracy or completeness is not guaranteed.
Total Credit does not assume any part of the requestor's risk in the use
or non-use of this TCA.
No part of this report may be reproduced, stored in retrieval system or
transmitted, in any form or by any means.
TCA is subject to change due to any unforeseen and/or foreseen
circumstances.
The following statutory information is based on the examination of
Subject's file at Business Registration Office (BR), Inland Revenue Department,
Hong Kong.
|
Date of Examination/ BR Copy Examined |
21 May 2013 |
|
Business Registration No. (BR No.) |
17546061 |
|
Business Status |
Sole Proprietorship |
|
Date Commenced |
7 Nov 1993 |
|
Active Status |
Live |
|
Name Changed: |
N/A |
|
Branches/Trading As |
N/A |
|
|
Chief Executive |
|
Details of Sole Proprietor / Partners as per B. R. copy obtained
|
Name |
ID/BR No. |
Passport No. |
Issuing Country |
Capacity |
Address |
|
KALATHIYA Sanjaybhai O |
R067330-6 |
N/A |
N/A |
Sole Proprietor |
Room C, 5/F, Hon Kwong Mansion, 25-29 Hankow Road, Tsim Sha Tsui,
Kowloon, Hong Kong. |
|
Change of Ownership & Capital/ Share Allotment/Other Changes |
No significant change in business and ownership have been reported
since its inception. |
|
Appointment and/or Resignation of Directors or Secretary |
N/A |
|
Admission or Retirement of Sole Proprietor/Partner |
N/A |
|
Parent |
N/A |
N/A
|
Name |
KALATHIYA Sanjaybhai O |
||||||||
|
Alias Name |
Sanjay |
||||||||
|
Position (Title) |
Chief Executive |
||||||||
|
Nationality |
N/A |
||||||||
|
Sex |
Male |
||||||||
|
Email |
sanjay@shivdiamond.com |
||||||||
|
Experience |
21 years + |
||||||||
|
Profile / Responsibility |
Sole Proprietor. He is currently in charge of its business management,
operation, administration and policymaking. |
||||||||
|
Business Capacity |
|
||||||||
|
Court Action |
As Defendant |
Profile/Responsibility and Business Capacity indicated are based on -on-file,
sources, and enquiries and investigations recently conducted but do not
necessarily represent the full or most updated records. For example, the status
indicated under Business Capacity is based on the date shown (if available) as
recorded, which might have been changed at the time the report is compiled.
Current Interviews & Investigations
Interviewed KALATHIYA Sanjaybhai O, Sole Proprietor, confirmed part of
the details within this report but declined to disclose any financial
information or business trend on the grounds of company privacy.
Sources and records reveal that its annual turnover is standing at
USD7,500,000.
Private companies in Hong Kong (include private limited, sole
proprietorship and partnership) are not required to file or disclose their
financial information for public inspection.
N/A
Maintaining bank accounts with HSBC and China Construction Bank (Asia)
Corporation Limited. No negative implication has been reported.
A trade survey currently conducted reveals the following:
|
|
First |
Second |
|
Type of Supplies |
Services |
Services |
|
Time Known |
10 Years |
15 Years |
|
Highest Credit |
60,000 |
100,000 |
|
Outstanding Balance |
25,000 |
20,000 |
|
Terms |
30 days net |
30 days net |
|
Pay Record |
Within Terms |
Within Terms |
|
|
|
|
|
Overall Trade Reputation |
Satisfactory |
|
TOTAL DEBT SCANNER
(TDS)
TDS reveals if subject has been listed as debtor in our debt database in
the past 5 years and that is subject to the "Code of Practice on Consumer
Credit Data" issued by Office of the Privacy Commissioner for Personal
Data, Hong Kong. Accounts are sometimes placed for collection even though the
existence or amount of the debt is disputed. It should be noted that the
collection record contained in the report might have been paid, terminated,
vacated, settled or released prior to the date of report compiled.
Search Result:
Subject
None found in our database
Related Members
None found in our database
Related Companies
None found in our database
Mortgages and Charges (M&C)
M&C records, if any, are extracted from the Companies Registry, Hong
Kong ("CRHK"). Details of "Creating Instrument" and
"Description of Property Mortgaged or Charged" are available subject
to the prevailing fees as per document charged by CRHK. Please indicate/select
"Full Mortgage/Charge" when ordering our services/reports (e.g.:
Total Limited Company Search or Total Company Credit Report). Request for Full
mortgage/Charge made 7 days after the report delivery will be treated as a new
order and is subject to our "Official Document Retrieval (ODR)"
service charge + related government fees. M&C brief particulars may not be
available from CRHK for mortgage/charge registered before 28 Feb 2005.
filed in:
N/A
Total Amount outstanding as of the date of this Return on all mortgages
and charges which are required to be registered with the Registrar of Companies
pursuant to sections 80 and 82 of the Companies Ordinance
TOTAL WRIT SCANNER
(TWS)
TWS reveals if subject has been listed as Defendant/Debtor/Respondent,
Plaintiff/Creditor/Applicant, in liquidation or bankruptcy within our court
database in the past 7 years and that is subject to the "Code of
Practice on Consumer Credit Data" issued by Office of the Privacy
Commissioner for Personal Data, Hong Kong. It should be noted that the court
record contained in a report might have been paid, terminated, vacated, settled
or released prior to the date of a report was compiled. Civil claims are filed
as the result of disputes of a commercial or other nature. The
Defendant/Debtor/Respondent is not liable nor the Plaintiff/Creditor/Applicant
eligible to the claim until judgement is obtained from the relevant court,
which is not open for public inspection at present. Only the latest 50 records
will be shown when total records exceed 50.
Search Result:
Subject
As Defendant
None found in our database
As Plaintiff
None found in our database
Comments
N/A
Related Members
As Defendant
None found in our database
Comments
N/A
Related Companies
As Defendant
None found in our database
Comments
N/A
Business Lines
|
Principal Business Line |
Manufacture, import and export of jewellery & gemstone |
|
Second Business Line |
N/A |
Product/Production
|
China Factory |
N/A |
|
Size of China Factory (sq. ft.) |
N/A |
|
No. of Staff / Workers in China (or Overseas) |
N/A |
|
Product / Production Remarks |
Its production is located in China. |
Supplies/Purchases
|
Hong Kong and China |
|
|
Types of Supplies |
Services and materials |
|
Buying Terms |
COD, TT and credit of 7 to 30 days |
|
|
|
|
Overseas |
|
|
Import Countries |
South East Asia |
|
Types of Supplies |
Materials |
|
Buying Terms |
TT and open account |
|
Remarks |
N/A |
Markets
|
Major Market |
Hong Kong, Asia, Europe, America and Middle East |
|
Minor Market |
N/A |
|
Selling Products / Services |
Jewellery & gemstone |
|
Selling Terms |
COD, TT and open account |
|
Remarks |
N/A |
Brands
|
Own Brands |
N/A |
|
OEM (Clients) Brands |
N/A |
|
Remarks |
N/A |
Premises and Staff
|
Hong Kong Office |
|
|
Area (sq. ft.) |
1,574 |
|
Type |
Industrial |
|
Staff Range |
Under 3 |
|
China Office |
|
|
Staff Range |
N/A |
|
Premises Remarks |
Renting a unit (owned by Subject's sole proprietor, KALATHIYA
Sanjaybhai O) as its office at the captioned address, which is at a
25-year-old industrial building. Employing 1. |
|
Total No. of Staff in Hong Kong (China) |
1 |
TOTAL PROPERTY OWNERSHIP
SEARCH (TPOS)
TPOS reveals if subject has been involved in property transaction record
in our database since 1996. TPOS does not represent the full record or history
of all transactions relating to the registered charges, mortgages or ownerships.
Some of the charges, mortgages or ownerships might have been released and/or
changed. There could be latest mortgages, charges, ownerships or transactions
not reflected. TPOS also checks on Subject's shareholder, director, sole
proprietor, partner (collectively listed under "Related Members" in
this section) and/or related company while related records will be revealed
when appropriate.
Search Result:
Subject
No Trace
Related Members
|
Related Companies
No Trace
|
Abbreviations: |
Related companies mean Parent Company, Subsidiary Company, Director's
Other Business/Capacity, etc.
N/A
ECONOMIC AND TRADE INFORMATION ON HONG KONG
|
|
2009 |
2010 |
2011 |
Forecast/Latest |
|
Population, Mid-year (million) |
6.97 |
7.02 |
7.07 |
7.14a |
|
Gross Domestic Product (US$billion) |
208.0 |
223.3 |
243.2 |
250.5-252.9b |
|
GDP Per Capita (US$) |
29,800 |
31,800 |
34,400 |
35,100-35,400b |
|
Real GDP Growth (%) |
-2.6 |
+7.1 |
+5.0 |
+1-2b |
|
Inflation (% Change in Composite CPI) |
+0.5 |
+2.4 |
+5.3 |
+4.7c |
|
Unemployment Rate, seasonally adjusted (%) |
5.4 |
4.4 |
3.4 |
3.2d |
|
Retail Sales Growth (%) |
+0.6 |
+18.3 |
+24.9 |
+13.1c |
|
Visitor Arrival Growth (%) |
+0.3 |
+21.8 |
+16.4 |
+15.5c |
a 2012; b government forecast for 2012; c year-on-year
change in January-June 2012; d April-June 2012.
Merchandise Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Total Exports |
388.6 |
+22.8 |
427.9 |
+10.1 |
207.6 |
+0.3 |
|
Domestic Exports |
8.9 |
+20.4 |
8.4 |
-5.5 |
3.6 |
-19.4 |
|
Re-exports |
379.7 |
+22.8 |
419.8 |
+10.5 |
204.0 |
+0.7 |
|
Imports |
431.4 |
+25.0 |
482.6 |
+11.9 |
236.0 |
+1.4 |
|
Total Trade |
820.0 |
+23.9 |
910.5 |
+11.0 |
443.6 |
+0.9 |
|
Trade Balance |
-42.8 |
N/A |
-54.8 |
N/A |
-28.4 |
N/A |
Service Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Exports |
105.7 |
+23.1 |
121.2 |
+14.6 |
60.2 |
+7.6 |
|
Imports |
50.8 |
+16.3 |
55.8 |
+9.8 |
27.4 |
+3.7 |
|
Total Trade |
156.5 |
+20.8 |
177.0 |
+13.1 |
87.6 |
+6.4 |
|
Trade Balance |
54.9 |
N/A |
64.9 |
N/A |
32.8 |
N/A |
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.
-
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.
-
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.
-
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 –
-
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.
-
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.