MIRA INFORM REPORT
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Report Date : |
16.12.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 906-907, 9/F., |
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Country : |
Hongkong |
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Date of Incorporation : |
18.12.2002 |
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Com. Reg. No.: |
33232361 |
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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 : |
About 5 Employees |
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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
HONGKONG - ECONOMIC
OVERVIEW
|
Source
: CIA |
Company Name and address
|
Company
Name: |
Brilliant Diamonds Limited |
|
Supplied
Name: |
Brilliant
Diamonds Limited |
|
Trading
Address: |
Room 906-907, 9/F., |
|
Supplied
Address: |
906-907 Stag
Building |
Note: The exact name
and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 906-907, 9/F., |
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Telephone Number: |
+852-2545-5886 |
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Date of Registration: |
2002-12-18 |
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Registered Number: |
826413 |
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Business Registration No.: |
33232361 |
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Registered Capital: |
USD 3,000,000 |
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Paid-up Capital: |
USD 3,000,000 = 3,000,0000 Shares@ USD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise worked, but not mounted or
set (cm) |
|
Principal Activities: |
Trading of Diamonds |
|
Staff: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2013-12-18 |
History
Subject was incorporated on 2002-12-18 with
the registered number 826413 as Private Limited Liability Company in
Change of Capital:
Particulars of the increase are as follows:
|
Date of
Resolution |
Registered
Capital |
Amount of
Additional Capital |
New Amount of
Total Registered Capital |
|
2012-1-2 |
USD 10,000 |
USD 2,990,000 |
USD 3,000,000 |
The additional Capital is divided as follows:
|
Class of Shares |
Number of Shares |
Nominal Value
per Share |
|
Ordinary |
2,990,000 |
USD 1 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
3,000,000 |
100% |
|
|
Total |
3,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Pacific Regent Trading Limited |
|
Address: |
Akara Building, 24 De Castro Street,
Wickhams Cay 1, Road Town, Tortola, British Virgin Islands |
Corporate
Structure
Subject did not introduce whether it has any subsidiaries or branches;
from other source we cannot obtain the relevant information, either.
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Shah Bhavik Jayesh |
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Address: |
Flat F, 9/F., |
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Position: |
Director |
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ID Number: |
R879273(8) |
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2 |
|
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Name: |
Louis Lai & Luk Company Secretarial
Services Limited |
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Address: |
9/F., |
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Position: |
Corporate Secretary |
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Registered Number: |
686503 |
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E-mail: |
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Former Director:
|
Name: |
Lau Tsui Yan |
|
Address: |
Room 906-907, 9/F., |
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Position: |
Director |
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ID Number: |
Z480609(4) |
|
Date of Resignation |
2011-12-31 |
Personnel
Structure
|
Total Employees |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Room 906-907, 9/F., |
Premises
Information
·
The subject is located at Room 906-907, 9/F.,
Production
Information
· Subject is a trader of diamonds, etc without any production activities.
Purchase
Information
·
It is introduced that subject purchases products
mainly from abroad such as
Sales Information
· Subject is engaged in sales of diamond, etc.
· Subject specializes in selling diamonds with round cuts.
·
Subject’s sales regions include Hong Kong,
mainland
· Subject’s major customers are retailers, jewellery manufacturers and individuals, etc.
Settlements
Purchase
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Diamonds |
|
Payment Terms |
T/T, etc |
Sales
Domestic Markets
|
Product |
Diamonds |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Diamonds |
|
Selling Terms |
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
Subject’s relevant staff rejected to disclose
the financial information, from other resources we cannot find it, either.
Bankers
Subject declined to disclose its bank details;
from other source we cannot obtain the relevant information, either.
Public
Mortgage Record
No mortgage record has been found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
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 |
||
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Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
|
96,110 |
728,817 |
662,210 |
4,475,744 |
|
|
-- |
-- |
461 |
1,049 |
|
|
1,756 |
23,658 |
3,733 |
54,816 |
|
|
84,515 |
1,239,263 |
423,171 |
6,622,381 |
|
|
476 |
2,771 |
2,771 |
48,195 |
|
|
8,077 |
206,582 |
32,377 |
858,188 |
|
|
709 |
2,321 |
12,087 |
20,158 |
|
|
1,277 |
88,340 |
9,442 |
386,120 |
|
|
65,772 |
1,433,655 |
360,130 |
8,238,886 |
|
|
981,536 |
4,727,211 |
5,338,417 |
26,201,042 |
|
|
3,860 |
18,103 |
19,791 |
137,275 |
|
|
129,016 |
1,115,405 |
703,068 |
6,169,441 |
|
The Mainland of |
114,204 |
798,063 |
516,495 |
3,689,202 |
|
Exports |
||||
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|
-- |
-- |
53 |
749 |
|
|
-- |
-- |
50 |
24,803 |
|
-- |
-- |
3 |
116 |
|
|
|
-- |
-- |
17 |
208 |
|
|
13 |
4,441 |
249 |
67,929 |
|
|
-- |
-- |
251 |
732 |
|
|
33 |
924 |
465 |
35,419 |
|
The Mainland of |
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
Room 906-907, 9/F.,
DIAMOND INDUSTRY –
-
From time immemorial,
-
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.
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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 –
-
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,
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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.62.65 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.78.02 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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|
Report Prepared
by : |
NIT |
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 |
-- |
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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.