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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
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Name : |
KRISH DIAM |
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Registered Office : |
Room B4, Block B, 14/F., |
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Country : |
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Date of Incorporation : |
25.07.2005 |
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Com. Reg. No.: |
35854795-000-07 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS. |
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No of Employees : |
01 |
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 : |
Satisfactory |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
KRISH DIAM
ADDRESS: Room B4, Block B, 14/F.,
Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
Manager: Mr. D Devshibhai Ambaliya
Establishment: 25th July, 2005.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
trader.
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room B4, Block B, 14/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated/Affiliated Companies:-
D. Nitin & Co., India.
D.N. Diamonds & Jewellery DMCC, UAE.
* D.N. Diamonds (HK)
Ltd., Hong Kong.
D.N. Gems BVBA, Belgium.
D.N. Jewels, India.
D.N.Jewels Antwerpen BVBA, Belgium.
Krish Diamonds & Jewellery LLC, UAE.
* Pansuriya Impex (HK)
Ltd., Hong Kong.
Pansuriya Impex, India.
Ruta Jewels, India.
* Address: Room 303, 3/F.,
Chevelier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
[Tel: 852-3693 4141, Fax:
852-3693 4142]
35854795-000-07
Manager: Mr. D Devshibhai Ambaliya
Name: D Devshibhai AMBALIYA
Residential Address: Flat 1,
11/F., Ocean View Court, 27 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 25th July, 2005 as a sole proprietorship concern
owned by Ajaykumar Ravjibhai Pansuriya under the Hong Kong Business
Registration Regulations.
The following table shows the changes of the partners:
|
Name |
Incoming Date |
Outgoing Date |
|
Ajaykumar Ravjibhai PANSURIYA |
25-07-2005 |
02-04-2009 |
|
Kamlesh Vallabhbhai DOBARIYA |
09-09-2005 |
27-10-2006 |
|
Pankajumar Punabhai RANGANI |
08-11-2005 29-10-2007 |
27-10-2006 02-04-2009 |
|
Dilipbhai Devshibhai AMBALIYA |
01-04-2009 |
--- |
Formerly the subject was located at Flat A, 4/F., Dor Fu Court, 5-6 Hau
Fook Street, Tsimshatsui, Kowloon, Hong Kong, moved to 6/F., Block B, Kimbley
Building, 1-3 Kimberly Street, Tsimshatsui, Kowloon, Hong Kong in June 2006, to
Room 1, 11/F., Ocean View Court, 27 Chatham Road, Tsimshatsui, Kowloon, Hong
Kong in November 2007 and further to the present address in October 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds.
Employee: 1.
Commodities Imported: India,
other Asian countries, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Krish Diam is a sole proprietorship owned by Dilipbhai Devshibhai Ambaliya
who is an Indian. He is a Hong Kong ID
Card holder and has got the right to reside in Hong Kong permanently. He is also manager of the subject.
Business commenced in July 2005, the subject is a diamond importer,
exporter and wholesaler. It is trading
in loose diamonds and diamond jewellery.
It is engaged in manufacturing loose diamonds like Marquise, Pears,
Tappers, Baguettes and Rose Cut Diamonds range from 0.01 cts to 10.00 cts. Prime markets are Hong Kong, China, the
United Arab Emirates, the United States, Turkey, etc.
The subject’s registered address is in a private building located at
Room B4, Block B, 14/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon,
Hong Kong. This is the latest residence
of D D Ambaliya when he is in Hong Kong. The residential building is not trespassed by
outsiders. The subject has just one
employee in Hong Kong.
The subject has had a main affiliated company in Hong Kong known as D.N.
Diamonds (HK) Ltd. [DND] and Pansuriya Impex (HK) Ltd. which are located at a
different address. The managing director
of DND and Pansuriya Impex (HK) Pankajumar Punabhai Rangani was an old partner
of the subject. Your given phone and fax
number 852-3693 4141 and 852-3693 4142 belong to DND and Pansuriya Impex
(HK). The subject is using DND’s phone
and fax number as its phone and fax number.
The business of the subject is chiefly handled by Mr. D Devshibhai
Ambaliya himself. History in Hong Kong
is over nine years and four months.
Regular suppliers and customers have been maintained.
In the years ahead, the subject will take part in shows and exhibitions
which are held in Hong Kong annually.
On the whole, consider the subject good for normal business engagements
in moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
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 |
|
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.