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Report Date : |
15.12.2014 |
IDENTIFICATION DETAILS
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Name : |
KALPATARU (HK) LTD. |
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Registered Office : |
Room 701, 7/F., |
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Country : |
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Date of Incorporation : |
22.05.2007 |
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Com. Reg. No.: |
37993151 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds |
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No. of Employees : |
2. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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Source
: CIA |
KALPATARU (HK)
LTD.
ADDRESS: Room 701, 7/F.,
PHONE: 852-2723 8114
FAX: 852-2723 8115
E-MAIL: kalpataru.hk@gmail.com
Managing Director: Mr. Mithil
Mukeshkumar Mehta
Incorporated on: 22nd May, 2007.
Organization: Private Limited Company.
Issued Capital: HK$3,000,000.00
Business Category: Jewellery
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
KALPATARU (HK)
LTD.
Registered Head
Office:-
Room 701, 7/F.,
Associated/Affiliated
Companies:-
D.S.M. Diamonds Pte. Ltd.,
Dia-Veer B.V.B.A.,
DSM (Pacific) Pty. Ltd.,
DSM Jewellers LLC, UAE.
Kalpataru B.V.B.A.,
37993151
1134829
Managing Director: Mr. Mithil
Mukeshkumar Mehta
HK$3,000,000.00
(As per registry dated 22-05-2014)
|
Name |
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No. of shares |
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Mithil Mukeshkumar MEHTA |
|
3,000,000 ======= |
(As per registry dated 22-05-2014)
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Name (Nationality) |
Address |
|
Mithil Mukeshkumar MEHTA |
Flat C, 14/F., South Seas Mansions, 81 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong. |
|
Bahri AGAOGLU |
Yesilkent Mah, Ardicli Gol Evleri Mor Salkim, Sok. No. 75 Avcilar,
Istanbul, Turkey. |
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Praful Rasiklal PAREKH |
A-801, Shaligram Apartment near Gandav Gali, Opp. Bunglow Athwalines,
Surat 395007, Gujarat, India. |
(As per registry dated 22-05-2014)
|
Name |
Address |
|
Bayani Divino Bautista PONCE |
Unit 324, 3/F., Hankow Centre, 5-15 Hankow Road, Tsimshatsui, Kowloon,
Hong Kong. |
The subject was incorporated on 22nd May, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat C, 5/F., Wing Lock House, 1‑3A Lock
Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat F, 12/F., Kimberley Mansion,
15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in August 2009; to Room 10,
Unit D2, 12/F., Hang Fung Industrial Building, Phase 2, 2G Hok Yuen
Street, Hunghom, Kowloon, Hong Kong in December 2009; to Room 1608, 16/F.,
Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong
Kong in late 2010, and further moved to the present address in May 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds
Employees: 2.
Commodities Imported: India,
Belgium, other European countries
Markets: Japan,
Southeast Asia, Europe, Middle East
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Issued Capital: HK$3,000,000.00
Increase of Nominal Capital:-
|
From |
HK$10,000.00 |
to |
HK$3,000,000.00 |
on |
13-07-2011 |
Alternation of Issued Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
13-07-2011 |
paid up |
HK$2,990,000.00 |
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|
|
––––––––––––––– |
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Total: |
paid up |
HK$3,000,000.00 ============== |
Profit or Loss: Making
a small profit every year.
Condition: Business
is normal.
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.
Having issued 3 million ordinary shares, Kalpataru (HK) Ltd. is wholly
owned by Mr. Mithil Mukeshkumar Mehta who is an India merchant. He is a Hong Kong ID Card holder and has
got the right to reside in Hong Kong permanently. The old shareholder Mr. Rajesh Mittalal Jain
transferred all his shares to Mehta on 14th February, 2009 and he has retired
since then.
The subject has increased its registered capital from HK$10,000.00 to
HK$3 million in July 2011. Its
financial position seems good.
The subject moved to the present address in May 2013.
The subject’s affiliates Kalpataru B.V.B.A. and Dia-Veer B.V.B.A. are
Belgium-based firms.
The subject is a diamond and jewellery trader. It is selling DSM’s products. It trades in polished, cut and loose diamonds. Most of its products are imported from India
and Belgium. Commodities are re-exported
to Japan, Southeast Asia, Europe, the Middle East, etc. Business keeps on improving.
DSM is a company with its genesis in India. It is specialized in supplying and dealing in
polished, cut and carat diamonds. It is
known for its large sized diamonds. Its
stock varies in sizes ranging from 10 pts to 3 carats or above. The quality, colour and shapes of the
products have been claimed to be good.
DSM can provide international certification as per customer demand from
reputed laboratories like GIA (Gemmological Institute of America). It evolves to become a global player in
diamond distribution and serves the market that demands the highest degree at
quality.
Besides the subject, DSM has got agents or affiliated companies in
India, Belgium, Singapore, the United Arab Emirates and Australia.
The corporate office of DSM is in Mumbai, India.
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-D40.
The subject’s business is chiefly handled by Mr. Mithil Mukeshkumar
Mehta himself.
History of the subject in Hong Kong is over seven years.
On the whole, consider it good for normal business engagements.
DIAMOND INDUSTRY – INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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Excerpts from Times of India dated 30th
October 2010 is as under –
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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.
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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.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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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.