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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
Y. DVASH H.K
LTD. |
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Registered Office : |
Unit 1202, 12/F., Unicorn Trade Centre, |
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Country : |
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Date of Incorporation : |
04.07.2011 |
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Com. Reg. No.: |
58599017 |
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Legal Form : |
Private Limited
Company |
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LINE OF BUSINESS : |
TRADING
IN DIAMONDS. |
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No. of Employees : |
4 |
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 : |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 has no tariffs on imported goods, and it levies
excise duties on only four commodities, whether imported or produced locally:
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, its continued
reliance on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused
Hong Kong property prices to rise rapidly; consumer prices increased by more
than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
NOTE:
Please be advised that there is no such a firm known as “Yoram Dvash
Diamonds Ltd.” registered with the Companies Registry of Hong Kong. Your is not an address of any companies. There is a company known as Y. Dvash H.K Ltd.
registered with the Companies Registry of Hong Kong. This company is owned by Yoram Dvash who is
an Israeli.
We consider Y. Dvash H.K Ltd. is your real enquiry and a report of it
was compiled for your reference.
Y. DVASH
H.K LTD.
ADDRESS: Unit 1202, 12/F., Unicorn
Trade Centre, 127-131 Des Voeux Road Central, Central, Hong Kong.
PHONE: 852-2521
2885/2878
FAX: 852-2522
7080
E-MAIL: maya@ydvash.com
Managing Director: Mr. Yoram
Dvash
Incorporated on: 4th July, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1,000.00
Business Category: Diamond
Trader.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Y. DVASH
H.K LTD.
Registered Head Office:-
Unit 1202, 12/F., Unicorn Trade Centre, 127-131 Des Voeux Road Central,
Central, Hong Kong.
Associated Companies:-
Y. Dvash China Ltd., China.
Y. Dvash Diamonds Ltd., Israel.
Y. Dvash USA Corp., US.
58599017
1624929
Managing Director: Mr.
Yoram Dvash
Contact Person: Mr. Maya Alush (Mobile: 852-6479 4869)
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000.00
(As per registry dated 04-07-2013)
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Name |
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No. of shares |
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Yoram DVASH |
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1,000 ==== |
(As per registry dated 04-07-2013)
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Name (Nationality) |
Address |
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Yoram DVASH |
Ein Ahoved St.3 Moshv Avichil, Israel. |
(As per registry dated 04-07-2013)
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Name |
Address |
Co. No. |
|
Finetune Corporate Services Ltd. |
Room 705 & 706, 7/F., China Insurance Group Building, 141 Des
Voeux Road Central, Central, Hong Kong. |
0824591 |
The subject was incorporated on 4th July, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond
Trader.
Lines: All
kinds of diamonds
Employees: 4.
Commodities Imported: India,
Israel
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000.00
Profit or Loss: Making a small
profit in 2013.
Condition: Keeping in a normal
manner.
Facilities: Making rather 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 1,000 ordinary shares of HK$1.00 each, Y. Dvash H.K Ltd.
is wholly owned by Mr. Yoram Dvash who is an Israel merchant. He is an Israel passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is a
diamond trader. It has got the following
associated companies:
Y. Dvash China Ltd., China.;
Y. Dvash Diamonds Ltd., Israel.; &
Y. Dvash USA Corp., US.
Your given phone number 972-3-5755 703 belongs to Y. Dvash Diamonds
Ltd., Israel.
Collectively they are known as Yoram Dvash Diamond [or “Y. Dvash”].
Y. Dvash is one of the prestigious companies trading in diamonds. For the last two decades, Y. Dvash has built
a good reputation being a reliable and trust-worthy company engaged in
manufacturing rounds and the most popular fancy shapes (from 0.08 to 5.00
carats).
Y. Dvash provides an extensive and diversified stock and also provides
GIA & EGL & IGI certificated diamonds.
It has had its own manufacturing factory in Israel.
The followings are the main products of Y. Dvash:
Princess Cut, Round, Emerald Cut, Cushion Cut, Assher Cut, Radiant Cut,
Pear Shape, Oval Cut
Products are marketed in Hong Kong, China and exported to the other
Asian countries
The business of the subject in Hong Kong is chiefly handled by Mr. Maya
Alush who seems to be an Israeli. He can
be reached at his Hong Kong mobile phone number 852-6479 4869.
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 took part in
“HKTDC Hong Kong International Diamond, Gem & Pearl Show 2014” which had
been held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 3rd to 7th March, 2014.
Its booth No. was 2-C23.
The business of the subject is normal.
History is over three years.
On the whole, consider the subject good for normal business engagements
in small credit amounts.
DIAMOND INDUSTRY –
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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.
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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.
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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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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.
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Excerpts from Times of India dated 30th October 2010 is as
under –
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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.
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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 |
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US Dollar |
1 |
Rs.60.87 |
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|
1 |
Rs.102.67 |
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Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.