MIRA
INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANA CREATION LIMITED |
|
|
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Registered Office : |
Unit F2, Rm 15, 1st Floor, Hang Fung Ind Phase 2, 2G Hok Yuen St, Hunghom, Kowloon |
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Country : |
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Date of Incorporation : |
31.05.2011 |
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Com. Reg. No.: |
1609480 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Diamonds |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
Contact Points
|
Company Name: |
Sana Creation Limited |
|
Supplied Name: |
Sana Creations Limited |
|
Trading Address: |
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind
Phase 2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong |
|
Supplied Address: |
F2 Room 15, Hang Fung Industrial Bldg, Phase
2, No 2G Hok Yuen Street Hunghom |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit F2, Rm 15, 1st Floor, Hang Fung Ind Phase 2, 2G Hok Yuen St, Hunghom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2215-4446 |
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Fax Number: |
+852-2215-4447 |
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Date of Registration: |
2011-5-31 |
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Registered Number: |
1609480 |
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Business Registration No.: |
58443789 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2014.12, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise
worked, but not mounted or set (cm) |
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Principal Activities: |
Trading of diamonds and etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-5-31 |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 2011-5-31 with the
registered number 1609480 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not introduce
whether it has any subsidiaries or branches, from other source we can not
obtain the relevant information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Shah Hemal Kumar Jyotindra |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
1 |
|
|
Name: |
Shah Hemal Kumar Jyotindra |
|
Address: |
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind
Phase 2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Shah Hemal Kumar Jyotindra |
|
Address: |
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind
Phase 2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong |
|
Position: |
Director |
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ID Number: |
R240056(0) |
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2 |
|
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Name: |
Hashmi Secretarial Services Limited |
|
Address: |
Unit B, 3rd Floor, Chun Wah Commercial Building, No. 30 Minden Avenue, T. S. T, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
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Registered Number: |
770656 |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind
Phase 2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Work Shop F2 On 1st
Floor Hang Fung Industrial
Building Phase 2 No.2g Hok Yuen Street
Kowloon |
|
Owners: |
Gold Century Holdings Limited |
|
Memorial Number: |
08082802600270 Assignment |
|
Date of Instrument: |
2008-7-30 |
|
Date of Registration: |
2008-8-28 |
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Consideration Value: |
HKD 9,000,000.00 |
History of
Premises Owners’
|
1 |
|
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Memorial No.: |
08082802600297 |
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Date of Instrument: |
2008-7-30 |
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Date of Registration: |
2008-8-28 |
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Nature: |
Assignment Of Rentals |
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In Favor of: |
|
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2 |
|
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Memorial No.: |
08082802600281 |
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Date of Instrument: |
2008-7-30 |
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Date of Registration: |
2008-8-28 |
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Nature: |
Mortgage |
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In Favor of: |
Dbs Bank (Hong Kong) Limited |
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Consideration: |
To Secure All Moneys In Respect Of
General Banking Facilities |
|
3 |
|
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Memorial No.: |
08022202890013 |
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Date of Instrument: |
2008-2-15 |
|
Date of Registration: |
2008-2-22 |
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Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Gold Century Holdings Limited |
|
Consideration: |
HKD 9,000,000.00 |
Production
Information
The subject is a trader of diamonds and etc
without any production activities.
It is introduced that subject has a related
plant in India.
Purchase
Information
It is introduced that subject imports its
products mainly from its related plant in India.
Sales Information
The subject is mainly engaged in sales of
diamonds and etc.
Subject’s major product is rough diamonds and
etc.
Subject’s selling territory includes China,
Middle East and etc.
Subject’s major customers are manufacturers
and designers of watch jewelry and etc.
Subject’s can be responsible for the custom procesures of its products to export to the mainland of
China.
Settlements
Purchase
Domestic Purchase
The subject has little purchases in domestic
market.
Import
|
Products |
Diamonds and etc |
|
Payment Terms |
T/T, L/C and etc |
Sales
Domestic Markets
|
Product |
Diamonds and etc |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Diamonds and etc |
|
Selling Terms |
T/T, L/C and etc |
Financial Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only
source from which we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Shah rejected to
disclose the financial information, from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation
of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty
Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Mr. Shah |
|
Mobile Number: |
+852-97925299 |
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E-mail: |
Industry Information
66729--Diamonds, non-industrial,
otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
96,110 |
728,817 |
662,210 |
4,475,744 |
|
Armenia |
-- |
-- |
461 |
1,049 |
|
Australia |
1,756 |
23,658 |
3,733 |
54,816 |
|
Belgium |
84,515 |
1,239,263 |
423,171 |
6,622,381 |
|
Canada |
476 |
2,771 |
2,771 |
48,195 |
|
Switzerland |
8,077 |
206,582 |
32,377 |
858,188 |
|
Germany |
709 |
2,321 |
12,087 |
20,158 |
|
Britain |
1,277 |
88,340 |
9,442 |
386,120 |
|
Israel |
65,772 |
1,433,655 |
360,130 |
8,238,886 |
|
India |
981,536 |
4,727,211 |
5,338,417 |
26,201,042 |
|
Malaysia |
3,860 |
18,103 |
19,791 |
137,275 |
|
USA |
129,016 |
1,115,405 |
703,068 |
6,169,441 |
|
The Mainland of China |
114,204 |
798,063 |
516,495 |
3,689,202 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
53 |
749 |
|
Israel |
-- |
-- |
50 |
24,803 |
|
-- |
-- |
3 |
116 |
|
|
Singapore |
-- |
-- |
17 |
208 |
|
Belgium |
13 |
4,441 |
249 |
67,929 |
|
Thailand |
-- |
-- |
251 |
732 |
|
USA |
33 |
924 |
465 |
35,419 |
|
The Mainland of China |
157 |
184 |
2,711 |
8,359 |
External Trade
Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind Phase
2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind Phase
2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind Phase
2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong
Unit F2, Rm 15, 1st
Floor, Hang Fung Ind Phase
2, 2G Hok Yuen St, Hunghom,
Kowloon, Hong Kong
DIAMOND INDUSTRY – INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
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.
-
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 |
|
US Dollar |
1 |
Rs.61.89 |
|
UK Pound |
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SHG |
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.