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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
PRINCESS DIAM |
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Registered Office : |
Flat H, 9/F., Windsor Mansion, 29-31 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.01.2011 |
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Com. Reg. No.: |
53563651-000-01 |
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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 JEWELLERY PRODUCTS |
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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 |
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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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
PRINCESS DIAM
ADDRESS: Flat H, 9/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2721 6444
FAX: 852-2721 6555
E-MAIL: infopd@krinalgems.com
Manager: Mr. Haresh Kumar Dhirubhai Dholiya
Establishment: 1st January, 2011.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
Flat H, 9/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Krinal Gems
202, Princess Plaza, Mini Bazaar, Varachha Road, Surat – 395006, India.
[Tel: 0261-2574566
Fax: 0261-2574566
E-mail: headoffice@krinalgems.com]
Krinal Jewelry
1907-A, Panchratna, Opera House, Mumbai - 400 004, India.
[Tel: 022-23668142 / 43
Fax: 022-23678142
E-mail: info@krinalgems.com]
53563651-000-01
Manager: Mr. Haresh Kumar Dhirubhai Dholiya (Mobile: 852-6350 9944)
Name: Mr. Haresh Kumar Dhirubhai DHOLIYA
Residential Address: Flat H, 9/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 1st January, 2011 as a partnership concern jointly owned by Mr. Haresh Kumar Dhirubhai Dholiya and Mr. Kamlesh Batokbhat Makwana under the Hong Kong Business Registration Regulations.
The subject has become a sole proprietorship as the latter retired on 11th November, 2011.
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,
Employees: Nil.
Commodities Imported: India, other Asian countries, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
Profit or Loss: Keeping a balance account in 2011 & 2012.
Condition: Business is improving.
Facilities: Making fairly active use of general banking facilities.
Payment: Slow but correct.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Princess Diam was established on 1st January, 2011. Now, it is a sole proprietorship owned by Mr. Haresh Kumar Dhirubhai Dholiya. Dholiya is an Indian who is an India passport holder and does not have the right to reside in Hong Kong permanently. He is the manager of the subject. He can be reached at his Hong Kong mobile phone number 852-6350 9944.
The subject’s registered address is in a private building located at Flat H, 9/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. This is the residence of Dholiya when he is in Hong Kong. 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 markets are Hong Kong, Japan and the other Asian countries. Business is improving.
The subject’s associated companies in India are Krinal Gems and Krinal Jewelry. Krinal Gems started in 1994. Now, it is one of the largest manufacturers of “princess cut diamonds”. The head office of Krinal Gems is in Surat, India while its branch office is in Mumbai, India. Krinal Jewelry, trading in the same commodities as Krinal Gems, is also in Mumbai, India. According to the subject, it is trading in “princess cut diamonds” which are its significant products.
Krinal Jewelry is specialized in all kinds of fancy diamond jewellery as well as hand made ethnic jewellery in unique designs.
The subject is just a one-man company. Business is chiefly handled by Dholiya himself. History, which is short in Hong Kong, is just over two years.
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 for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.