MIRA INFORM REPORT

 

 

Report Date :

12.12.2014

 

IDENTIFICATION DETAILS

 

Name :

NIKITA GEMS

 

 

Registered Office :

Flat 9, Block A, 9F, Hunghom Commercial Centre, 39 Ma Tau Wai Rd., To Kwa Wan, Kowloon

 

 

Country :

Hongkong

 

 

Date of Incorporation :

20.05.2003

 

 

Com. Reg. No.:

33622918

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Trading of Diamonds

 

 

No. of Employees :

About 10 Employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Hong Kong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

HONGKONG - 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:

Nikita Gems

Supplied Name:

NIKITA GEMS

Trading Address:

Unit 9, 9th Floor, Tower A, Hunghom Commercial Center, 39 MA Tau Wai Road, Hunghom, Kowloon, Hong Kong

Supplied Address:

Unit 9 9th Floor Tower A Hunghom Commercial Center 39 MA Tau Wai Road Hunghom Kowloon

Note: The exact address is as above.

 

 

Company Identification Details

 

Registered Name:

Nikita Gems

Registered Address:

Flat 9, Block A, 9F, Hunghom Commercial Centre, 39 Ma Tau Wai Rd., To Kwa Wan, Kowloon, Hong Kong

Telephone Number:

+852-3579-2444

Fax Number:

+852-2724-5442

Date of Registration:

2003-5-20

Business Registration No.:

33622918

Registered Capital:

N/A

Legal Form:

Sole Proprietorship

SITC Code:

66729--Diamonds, non-industrial, otherwise worked, but not mounted or set (cm)

Principal Activities:

Trading diamonds

Staff:

About 10 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

--

Notes: We cannot obtain the registered capital for the companies of Sole Proprietorship. The number of staff is from public files, which is not confirmed by the subject.

 

 

History

 

Subject was incorporated on 2003-5-20 with the business registered number 33622918 as Private Limited Liability Company in Hong Kong.

 

 

Corporate Structure

 

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Owner

 

Name:

Banthia Virendra

Address:

Flat 3A, 3F, Housing Sun Building, 45-47 Carnarvon Rd., Tsim Sha Tsui, Kowloon, Hong Kong

Registered Number:

R3915181

 

Personnel Structure

 

Total Employees

About 10 Employees

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

Flat 9, Block A, 9F, Hunghom Commercial Centre, 39 Ma Tau Wai Rd., To Kwa Wan, Kowloon, Hong Kong

 

Premises Information

 

Office address:

Address:

Unit No.9 (Formerly Known As Unit17) On 9th Floor Of Tower A Hunghom Commercial Centre No.39 Ma Tau Wai Road Kowloon, Hong Kong

Owners:

Nikita Trading Limited

Memorial Number:

10123102420037

Assignment

Date of Instrument:

2010-12-6

Date of Registration:

2010-12-31

Consideration Value:

$8,832,000.00

 

 

History of Premises Owners’

 

1

Memorial No.:

14032500530126

Date of Instrument:

2014-2-27

Date of Registration:

2014-3-25

Nature:

Mortgage

In Favor of:

Industrial And Commercial Bank Of China (Asia) Limited

Consideration:

All Monies

2

Memorial No.:

10123102420014

Date of Instrument:

2010-10-15

Date of Registration:

2010-12-31

Nature:

Nomination

In Favor of:

Nikita Trading Limited

Consideration:

--

3

Memorial No.:

10101902830203

Date of Instrument:

2010-9-20

Date of Registration:

2010-10-19

Nature:

Agreement For Sale And Purchase

In Favor of:

Banthia Virendra

Consideration:

$8,832,000.00

 

 

Production Information

 

·         Subject is engaged in trading of diamonds, etc. without any production activities.

 

Purchase Information

 

·         It is introduced that subject’s diamonds are purchased from India.

 

Sales Information

 

·         Subject is a trader of diamonds, etc.

The major products of the subject are full cut and polished white diamonds, rough diamonds, and diamond jewelry, etc.

It is introduced that subject’s sale regions include domestic market and abroad.

The major customers of the subject are manufacturers of jewelry and watches, and dealers, etc.

 

 

Settlements

 

PURCHASE

 

Domestic Purchase

 

Subject has little domestic purchase.

 

Import

Products

Diamonds, etc.

Payment Terms

L/C, T/T, etc.

 

 

SALES

Domestic Markets

Product

Diamonds, etc.

Selling Terms

T/T, Cash, etc.

 

Export

Product

Diamonds, etc.

Selling Terms

L/C, T/T, 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 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

 

Civil Litigation

1

Date:

2013-7-23

Court Name:

District Court Civil Action

Court No.:

1870

Claimant:

Banthia Virendra

trading as

NIKITA GEMS

DCCJ 1870/2013

Defendant:

Wah Ngai Hong Jewelry Company Limited

Reason:

Summons (For final judgment)

Amount(HKD):

--

2

Date:

2013-5-24

Court Name:

District Court Civil Action

Court No.:

1869

Claimant:

Banthia Virendra

t/a

Nikita Gems

c/o

Unit 909, 9/F, Tower A, HungHom Commercial Centre, 39 Ma Tau Wai Road, Hung Hom, Kln

c/o

Boase, Cohen & Collins

(a firm)

Defendant:

Hop Shing Jewelry Manufacturing Ltd

c/o

Unit 6A, Valiant Commercial Building, 22-24 Prat Avenue, Tsim Sha Tsui, Kln

Reason:

Goods sold and delivered

Amount(USD):

67,839.00

3

Date:

2013-5-24

Court Name:

District Court Civil Action

Court No.:

1870

Claimant:

Banthia Virendra

t/a

Nikita Gems

c/o

Unit 909, 9/F, Tower A, HungHom Commercial Centre,

39 Ma Tau Wai Road, Hung Hom, Kln

c/o

Boase, Cohen & Collins

(a firm)

Defendant:

Wah Ngai Hong Jewelry Co Ltd

c/o

Unit 5, 23/F, Enterprise Square Two, No.3 Sheung Yuet Road, Kowloon Bay, Kln

Reason:

Goods sold and delivered

Amount(USD):

95,598.45

4

Date:

2012-7-17

Court Name:

High Court Civil Action

Court No.:

1227

Claimant:

Banthia Virendra

t/a

Nikita Gems

c/o

Wongs

(a firm)

Defendant:

Tsang Kam Hung Joseph (D1)

Chun Ngai Jewellery Design Co Ltd

(D2)

c/o

Flat A, 3/F, Block B, Cornwall Court, 54 King's Road, HK

c/o

Flat C, 8/F, Chi Fu Fa Yuen, Pok Fu Lam, HK (D1)

c/o

G/F, 73 Wan Chai Road, Wan Chai, HK (D2)

Reason:

Debt

5

Date:

2011-6-7

Court Name:

Small Claim Tribunal

Court No.:

008676/11

Claimant:

Daga Ashokkuwan

(SCTC008676/11)

Virendra Banthia Daga Ashokkumar

t/a

Nikita Gems

Vivendia Banthia

Defendant:

Golden Sharp Jewellery Co. Ltd

Reason:

Goods Sold and Delivered

6

Date:

2011-3-30

Court Name:

Small Claim Tribunal

Court No.:

008676/11

Claimant:

Daga Ashokkuwan

(SCTC008676/11)

Vivendra Banthia

Daga Ashokkumar

t/a

Nikita Gems

Defendant:

Golden Sharp Jewellery Co. Ltd

Reason:

Goods Sold and Delivered

7

Date:

2010-2-4

Court Name:

District Court Civil Action

Court No.:

397

Claimant:

Banthia Virendra

t/a

Nikita Gems

c/o

Ocean View Court, 27 Chartham Road, Tsim Sha Tsui, Kln

c/o

Yeong & Co

(a firm)

Defendant:

Prince Creations Jewelry Co Ltd

c/o

Flat B, 8/F,

Valiant Commercial Building,

Nos.22-24 Prat Avenue,

Tsim Sha Tsui, Kln

Reason:

Goods Sold and Delivered

Amount(USD):

27,505.50

8

Date:

2006-12-30

Court Name:

Small Claim Tribunal

Court No.:

063584/06

Claimant:

Virendra Banthia

t/a

Nikita Gems

(SCTC063584/06)

Defendant:

Readtain (Int'l) Trading Ltd.

c/o

Unit 1205, 12/F, Chuang's Hunghom Plaza, 83 Wu Hu Street, Hunghom, Kln

Reason:

Dishonored Cheque

 

 

Special Note

 

Interview Details

Department:

Sales Department

 

 

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

Japan

--

--

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

 

Address: Unit 9, 9th Floor, Tower A, Hunghom Commercial Center, 39 MA Tau Wai Road, Hunghom, Kowloon, Hong Kong

 

Tower A, Hunghom Commercial Center, 39 MA Tau Wai Road, Hunghom, Kowloon, Hong Kong

 

9th Floor, Tower A, Hunghom Commercial Center, 39 MA Tau Wai Road, Hunghom, Kowloon, Hong Kong

 

Unit 9, 9th Floor, Tower A, Hunghom Commercial Center, 39 MA Tau Wai Road, Hunghom, Kowloon, Hong Kong

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.21

UK Pound

1

Rs.97.80

Euro

1

Rs.77.48

 

 

INFORMATION DETAILS

 

Report Prepared by :

TPT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.