MIRA INFORM REPORT

 

 

Report Date :

13.12.2014

 

IDENTIFICATION DETAILS

 

Name :

K. DIAM LTD.

 

 

Registered Office :

Unit 1011, 10/F., West Wing, Peninsula Square, 18 Sung On Street, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

30.09.2010

 

 

Com. Reg. No.:

53070428

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

THE SUBJECT IS A LOOSE DIAMOND TRADER. 

 

 

No of Employees :

3

 

 

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 :

Small Company

Payment Behaviour :

No Complaints

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

 

 

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

 

COMPANY NAME & ADDRESS

 

K.  DIAM  LTD.

 

ADDRESS:       Unit 1011, 10/F., West Wing, Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

 

PHONE:            852-3904 2353

 

FAX:                 852-3904 2354

 

E-MAIL:            smskrishna@yahoo.com

 

 

MANAGEMENT

 

Managing Director:  Mr. Krishna Kalubhai Donda

 

 

SUMMARY

 

Incorporated on:            30th September, 2010.

 

Organization:                 Private Limited Company.

 

Capital: Nominal:           HK$10,000,000.00

            Issued:             HK$10,000,000.00

 

Business Category:       Diamond Trader.

 

Employees:                  3.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:          Satisfactory.

COMPANY NAME & ADDRESS

 

K.  DIAM  LTD.

 

ADDRESS:

 

Registered Head Office:-

Unit 1011, 10/F., West Wing, Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.

 

Associated companies:-

Vanishka Gems & Jewellery DMCC, UAE.

Vishal Gems LLC, UAE.

 

 

BUSINESS REGISTRATION NUMBER

 

53070428

 

 

COMPANY FILE NUMBER

 

1510693

 

 

MANAGEMENT

 

Managing Director:  Mr. Krishna Kalubhai Donda

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000,000.00

 

 

SHAREHOLDER

 

(As per registry dated 30-09-2013)

Name

 

No. of shares

Krishna Kalubhai DONDA

 

10,000,000

========

 

DIRECTOR    

 

(As per registry dated 30-09-2013)

Name

(Nationality)

 

Address

Krishna Kalubhai DONDA

Flat C, 9/F., Tower 9, Laguna Verde, Humghom, Kowloon, Hong Kong.

 

 

SECRETARY

 

(As per registry dated 30-09-2013)

Name

Address

Co. No.

Gurung & Shum Business Solutions Ltd.

Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

1348317

 

 

HISTORY

 

The subject was incorporated on 30th September, 2010 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.

 

 

OPERATIONS

 

Activities:                      Diamond Trader.

 

Lines:                           All kinds of loose diamonds

 

Employees:                  3.

 

Commodities Imported: India, Israel, other European countries

 

Markets:                        Asian countries, the Middle East, Europe, North America

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P

 

 

MEMBERSHIP

 

Shanghai Diamond Exchanger Association

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000,000.00

 

Profit or Loss:               Made a small profit in 2013.

 

Condition:                     Business is normal.

 

Facilities:                      Making rather 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.

 

 

GENERAL

 

Having issued 10 million ordinary shares of HK$1.00 each, K. Diam Ltd. is wholly owned by Krishna Kalubhai Donda 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 the only director of the subject.

The subject is a loose diamond trader.  It is trading in all kinds of diamonds and diamond jewellery with 18K, 14K and 9K.

The subject has had the following two associated companies in the United Arab Emirates:-

  • Vanishka Gems & Jewellery DMCC; &
  • Vishal Gems LLC.

Both firms are located at P O Box 64388, Gold Centre Building, Flat No. 50 , 2/F., Deira, Dubai, UAE.

Most of the subject’s products are exported to the United Arab Emirates, China and the other Asian countries.

In recent years, the subject has penetrated the China markets.  Recommended by H.K. Exports (Shanghai) Ltd. and Levavi Diamonds (Shanghai) Co. Ltd. on 11th July, 2014, the subject has become a member of Shanghai Diamond Exchange Association, China.

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.  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 1-A11.

The subject’s business is chiefly handled by Krishna Kalubhai Donda himself.  History is just over three years.  Business keeps on improving.

On the whole, consider the subject good for normal business engagements in small credit amounts.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.98.15

Euro

1

Rs.77.38

 

 

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.