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Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SHINE DIAM (HK) LTD. |
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Registered Office : |
9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
05.12.2011 |
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Com. Reg. No.: |
59226712 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Trader of Diamonds. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Slow but correct |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hongkong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
HONGKONG - 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
SHINE DIAM
(HK) LTD.
ADDRESS: 9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-3487 2759
Managing Director: Mr. Savrin Subhash Shah
Incorporated on: 5th December, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
59226712
1687373
Managing Director: Mr. Savrin Subhash Shah
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 05-12-2012)
|
Name |
|
No. of shares |
|
Savrin Subhash SHAH |
|
10,000 ===== |
(As per registry dated
05-12-2012)
|
Name (Nationality) |
Address |
|
Savrin Subhash SHAH |
301, Exclusive Building, 32 Tagore Road, Santacruz (W),
Mumbai-400054, India. |
(As per registry
dated 05-12-2012)
|
Name |
Address |
Co. No. |
|
Kaizen Secretaries Ltd. |
Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun
Tong, Kowloon, Hong Kong. |
0640440 |
The subject was incorporated on 5th December, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at Room 2207‑2209, 22/F., Block II, Lippo Centre, 89 Queensway, Admiralty, Hong Kong, moved to the present address in March 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Diamond Trader.
Lines: All kinds of diamonds, etc.
Employees: Nil.
Commodities Imported:India, etc.
Markets: Hong Kong, other Asian countries, etc.
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C, prepayment, 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
Profit or Loss: Kept 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 10,000 ordinary shares of HK$1.00 each, Shine Diam (HK) Ltd. was wholly owned by Kaushal Pankaj Van who was an Indian. On 4 June, 2012, Kaushal Pankaj Van transferred all his shares to Mr. Savrin Subhash Shah who is also an Indian. The former is residing in Maharashtra, India.
Mr. Savrin Subhash Shah is also the only director of the subject. He is an India passport holder and does not have the right to reside in Hong Kong permanently. Currently he is in Hong Kong. We can reach Savrin Subhash Shah at your given phone number 852-3487 2759.
The subject commenced business in December 2011.
The subject’s registered address is in a private building located at 9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong. It is likely that this is the residence of Shah when he is in Hong Kong. This is also the operating office of the subject.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
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 market is Hong Kong and the other Asian countries. Business is still under development.
The subject’s history in Hong Kong is just over a year and eleven months. History is short.
Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.91 |
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 |
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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.