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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
SIMONI DIAMONDS
LTD. |
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Registered Office : |
Unit 8, 9/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.12.2013 |
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Com. Reg. No.: |
62523313 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
·
ENGAGED IN TRADING LOOSE, POLISHED AND CUT DIAMONDS ·
SUBJECT IS ALSO TRADING GEMSTONES AND LOOSE DIAMONDS LIKE
MARQUISE, PEARS, TAPPERS, BUGGETS AND ROSE CUT, ROUND BRILLIANT, SINGLE CUT
AND FANCY CUT. |
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No of Employees : |
04 (Including associate) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 |
SIMONI DIAMONDS LTD.
Unit 8, 9/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hunghom, Kowloon,
PHONE: 852-2264 2301, 852-2366 9651
FAX: Not available
E-MAIL: shreesilimpex@yahoo.com
Managing Director: Mr. Hardik Natvarlal Donda
Incorporated on: 19th December, 2013.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 4. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 8, 9/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hunghom, Kowloon,
Associated
Companies:-
Cosmopolitan Gems, Hong Kong.
Shree Siddh Laxmi Diamonds, Hong Kong.
Shree Siddh Laxmi Diamonds, India.
Shree Sil Impex (HK) Ltd., Hong Kong. (Same address)
62523313
2015143
Managing Director: Mr. Hardik Natvarlal Donda
(Hong Kong Mobile Phone No.: 852-6972 9331)
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 19-12-2013)
|
Name |
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No. of shares |
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Indiandirectory. HK Ltd., Hong Kong. |
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1 |
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Nayanaben Hardikbhai DONDA |
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9,999 |
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––––– |
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Total: |
10,000 ===== |
(As per registry
dated 19-12-2013)
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Name (Nationality) |
Address |
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Nayanaben Hardikbhai DONDA |
Flat B, 18/F., Block 7 Villa Verde, Laguna Verde, Hunghom,
Kowloon, Hong Kong. |
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Hardik Natvarlal DONDA |
Flat B, 18/F., Block 7 Villa Verde, Laguna Verde, Hunghom,
Kowloon, Hong Kong. |
(As per registry
dated 23-04-2014)
|
Name |
Address |
Co. No. |
|
Buttar Secretarial Services Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung,
New Territories, Hong Kong. |
1906147 |
The subject was incorporated on 19th December, 2013 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: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds and gems.
Employees: 4. (Including associate)
Commodities Imported: India, other Asian countries, Europe, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, advanced 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: Too early to offer an opinion.
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 million ordinary shares of HK$1.00 each, Simoni Diamond Ltd. is wholly owned by Mr. Nayanaben Hardikbhai Donda who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. The directors of the subject are Hardik Natvarlal Donda and Nayanaben Hardikbhai Donda.
Business commenced in December 2013, 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. It is also trading in gemstones and loose diamonds like marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut. Prime markets are Hong Kong, China, Japan and other Asian countries. Business is under development.
The subject has had an associated company Shree Sil Impex (HK) Ltd. [SSI], a Hong Kong-registered company located at the same address. The directors of SSI are Rajeshbhai Lakshmanbhai Vithani and Hardik Natvarlal Donda.
Hardik Natvarlal Donda can be reached at his Hong Kong mobile phone number 852-6972 9331.
SSI has had associated companies in Hong Kong and India.
The office shared by the subject and SSI is owned by SSI. The history of the subject in Hong Kong is just over eleven months.
On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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|
1 |
Rs.97.39 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
-- |
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.