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Report Date : |
25.08.2014 |
IDENTIFICATION DETAILS
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Name : |
JULIUS KLEIN - ELIAZ DIAMONDS ASIA LTD. |
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Registered Office : |
Unit 402-403, 4/F., |
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Country : |
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Date of Incorporation : |
20.12.2002 |
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Com. Reg. No.: |
33247932 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of
diamonds. |
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No. of Employees |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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Source
: CIA |
JULIUS KLEIN - ELIAZ
DIAMONDS ASIA LTD.
ADDRESS: Unit
402-403, 4/F.,
PHONE: 852-3421 1555
FAX: 852-3421 1551
E-MAIL: info@eliaz.com.hk
info@eliazdiamonds.com
Managing Director: Mr. Azriel Garty
Incorporated on: 20th December, 2002.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 402-403, 4/F.,
Holding Company:-
Julius Klein - Eliaz Diamonds Ltd.,
Associated/Affiliated
Companies:-
JKD West LLC,
Julius Klein - Eliaz Diamonds Europe BVBA,
Julius Klein Diamonds Botswana Pty. Ltd.,
Julius Klein Diamonds
Julius Klein Diamonds Namibia Pty. Ltd.,
Julius Klein Diamonds South Africa Pty. Ltd.,
Julius Klein-Eliaz Diamonds India Pvt. Ltd.,
Julius Klein-Eliaz Diamonds Shanghai Ltd.,
Ritani
33247932
0826707
Managing Director: Mr. Azriel Garty
Contact Person: Ms. Eva Yeung
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS: (As per registry dated 20-12-2013)
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Name |
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No. of shares |
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Julius Klein - Eliaz Diamonds Ltd. 14/F., Maccabi Bilding, |
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9,999 |
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Azriel GARTY |
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1 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS: (As per registry dated 01-01-2014)
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Name (Nationality) |
Address |
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Azriel GARTY |
Derech Habear 3, |
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Gonen GRICHMAN |
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SECRETARY: (As per registry dated 20-12-2013)
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Name |
Address |
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Willie Management Services Ltd. |
Room 907, 9/F., Wing Tuck Commercial Centre, |
1159285 |
The subject was incorporated on 20th December, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Deep Ocean Trading Ltd., name changed to Eliaz Diamonds Asia Ltd. on 2nd February, 2004 and further to the present style on 31st March, 2006.
Formerly the subject was located at Unit 1003, 10/F.,
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds
Brand Names: “RITANI’ and “Julius Klein-Eliaz”.
Employees: 6.
Commodities Imported:
Markets: Hong Kong, other Asian countries,
Europe,
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, 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: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Standing: Very Good.
Julius Klein - Eliaz Diamonds Asia Ltd. is a wholly-owned subsidiary of Julius Klein - Eliaz Diamonds Ltd. [JKED] which is an Israel-based firm.
The subject trades in jewellery sets, colour gemstones and diamonds. It is trading in the following commodities: loose diamonds, emerald cut diamonds, jewellery set, natural diamonds, 25-carat diamonds, coloured gemstones, rings, etc.
For over four decades, JKED has been internationally recognized as one of the leading manufacturers and distributors of exceptional quality diamonds.
An affiliate company of the Julius Klein Group [JKG/Group],
a Diamond Trading Company [DTC] Sightholder with offices in
JKG has been a
preeminent diamantaire in the global diamond industry. With an extraordinary inventory of the finest
quality diamonds (specializing in 50+ carats), exceptional stones, hard-to-find
items and unique diamond jewelry, JKG is an all-encompassing supplier to its
retail partners.
From what began
as a family owned business on New York’s 47th Street, Julius Klein Diamonds
joined forces with Eliaz Diamonds in 1994 and has since expanded its business
globally, currently boasting sales offices in New York, Los Angeles,
Florida, Tel Aviv, Antwerp and Hong Kong, and manufacturing facilities in New
York, Tel Aviv, South Africa and Namibia.
Since inception, JKED has grown into a multinational business with offices in Antwerp besides the subject in Hong Kong. JKED was named one of Israel’s top 30 exporters in 2003 by the office of Israel’s diamond comptroller under the auspices of the Ministry of Industry, Trade & Employment.
JKED’s wide range of inventory includes round and fancy shape diamonds from 10 points to 20 carats, a wide variety of colours (including one of a kind pinks, peaches, blues, purples, greens, reds and all those in the fancy yellow family), all clarity grades and diamonds with GIA, AGS, IGI and HRD certificates (provided according to the needs of its clients).
One of the Chief Executive Officers of the Group Mr. Kobi Laibovich, an expert with 40 years of experience in diamond polishing, leads the factory in Tel Aviv, Israel and helps controlling the plant in Johannesburg, South Africa. The Group’s products are exported to worldwide countries. Business is active.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong, Macau and other foreign large cities.
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 is going to take part in “HKTDC Hong Kong International Diamond, Gem & Pearl Show 2015” which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 2nd to 6th March, 2015. Its booth No. is AWE 2-L21.
The subject is fully supported by the Group. Business is chiefly handled by Ms. Eva Yeung who is a Hongkongnese. History in Hong Kong is over eleven years and eight months.
On the whole, consider the subject good for normal business engagements.
DIAMOND INDUSTRY – INDIA
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.43 |
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1 |
Rs.100.23 |
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Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIS |
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.