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Report Date : |
15.12.2014 |
IDENTIFICATION DETAILS
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Name : |
NOMADS DIAM LTD. |
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Registered Office : |
Room 901, 9/F., Chevalier House, |
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Country : |
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Date of Incorporation : |
05.09.2012 |
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Com. Reg. No.: |
60317180 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Polished & cut
diamonds |
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No. of Employees |
08 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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Source
: CIA |
NOMADS DIAM
LTD.
ADDRESS: Room 901, 9/F., Chevalier House,
PHONE: 852-3170 5172
FAX: 852-3171 4224
Managing Director: Mr. Shaileshkumar Manubhai Khunt
Incorporated on: 5th September, 2012.
Organization: Private Limited Company.
Capital: Nominal:HK$100,000,000.00
Issued: HK$1.00
Business Category: Diamond Trader.
Employees: 8. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 901, 9/F., Chevalier House,
Affiliated/Associated
Companies:-
D.
Jewel Goldi (
M B Impex Ltd.,
M B Impex,
R. Goldi (
R. Goldi Diamond (
S. Goldi (Asia) Ltd.,
S.Goldi,
Shree Ramkrishna Export Pvt. Ltd.,
The Jewelry Co.,
TJC Jewelry Inc., US.
V. Goldi Ltd.,
etc.
60317180
1795936
Managing Director: Mr. Shaileshkumar Manubhai Khunt
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
SHAREHOLDER: (As per registry dated 05-09-2013)
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Name |
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No. of share |
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Nileshkumar Popatbhai CHANCHAD |
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1 = |
DIRECTORS: (As per registry dated 05-09-2013)
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Name (Nationality) |
Address |
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Shaileshkumar Manubhai KHUNT |
Flat D, 12/F., |
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Nileshkumar Popatbhai CHANCHAD |
Flat G, 10/F., |
SECRETARY: (As per registry dated 05-09-2013)
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Name |
Address |
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Bayani Divino Bautista |
Flat A, 8/F., Tower 5, |
The subject was incorporated on 5th September, 2012 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: Polished & cut diamonds
Employees: 8. (Including associates)
Commodities Imported:
Markets: China, Belgium, US, other Asian countries, Australia, Middle East, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C, Advanced T/T, etc.
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Kept a balance account in 2013.
Condition: Business is improving.
Facilities: Making fairly 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 just one ordinary share of HK$1.00, Nomads Diam Ltd. is wholly owned by Mr. Nileshkumar Popatbhai Chanchad who is an Indian. The directors of the subject Shaileshkumar Manubhai Khunt and Nileshkumar Popatbhai Chanchad are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
The subject shares the same office with its associated company S. Goldi (Asia) Ltd. [S. Goldi].
Having issued 5 million ordinary shares of HK$1.00 each and incorporated on 30th April, 2007, S. Goldi is wholly owned by Mr. Mansukhbhai Bhikhabhai Budheliya. Directors are Mansukhbhai Bhikhabhai Budheliya and Nileshkumar Popatbhai Chanchad. Both are Indian and residing in Hong Kong. The latter is also the director of the subject.
The subject and S. Goldi are engaged in the same lines of business.
The subject is a diamond trader. It is an affiliated company of Shree Ramkrishna Exports Pvt. Ltd. [SRKE] which was set up in 2004 in India. The founder of SRKE Govind Dholakia is also the Chairman of the SRKE Group of companies.
The subject is trading in the same products as SRKE. It is responsible for the markets of the Asia Pacific region. Its core products are loose diamonds, fancy diamonds, carat size diamonds, certified stones — GIA Dossiers ad GIA up to 3 carats. Other products include ladies’ ring, ladies’ bangle, feather shape jewellery, etc. Products are exported to China, Japan, South Korea, Taiwan and Southeast Asia, Europe, North America, etc.
SRKE is one of India’s leading diamond manufacturers. It is trading in diamonds ranging from 0.30 to 3.00 carats in weight and D to J in colours. Founded in 1976 by Govind Dholakia, SRKE today has 5,000 employees in India. Its office and factory area is about 250,000 sq.ft.
In 2003, SRKE established its own jewellery outlet, Jewel Goldi, at Seepz, Mumbai, to make diamond-studded jewellery for international markets. In 2004, SRKE set up Jewel Goldi (India), at MIDC, Mumbai, to serve the domestic market.
SRKE provides the subject will all kinds of diamonds and jewellery products. According to SRKE, it has invested in a state-of-the-art manufacturing facility at Surat with the capacity to process more than 720 thousand carats of rough diamonds annually (approx. 60,000 carats Rough Diamonds every Month).
SRKE is also operated by Mr. Mansukhbhai Bhikhabhai Budheliya who is also a director of S. Goldi. Besides Hong Kong, the Group now has had affiliated companies in Israel, the United States, India, Belgium, China, etc.
In 2012, SRKE was honoured with “Silver Certificate of Merit” by The Jury and the Executive Committee of The Economic Times India Manufacturing Excellence Awards 2012 for Manufacturing and Supply Chain Excellence.
In 2013, it got the membership of United States Green Building Council (USGBC).
The subject has had an associated company R. Goldi (Shanghai) Diamond Co. Ltd. in Shanghai, China. This firm was set up in 2007 and now located at Room 421, 4/F., Jinmao Building, 88 Century Road, Pudong New Area, 200120 Shanghai, China. It is a member of Shanghai Diamond Exchange. R. Goldi (Shanghai) is marketing SRKE’s products in China.
The subject belongs to the SRK Group and its annual sales turnover is over Rs 1,600 crore.
The subject is fully supported by SRK Group and its associated company S. Goldi. History in Hong Kong is just over a year.
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 for the time being.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.44 |
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1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
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Report Prepared
by : |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.