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Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ANDIAMEX ASIA LTD. |
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Registered Office : |
c/o Wing Fung Jewellery Manufacturing Ltd. Unit 13, 3/F., Tower A, Focal Industrial Centre, |
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Country : |
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Date of Incorporation : |
31.05.2013 |
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Com. Reg. No.: |
61524821 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of all kinds of diamonds |
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No. of Employees : |
No employees in It is to be noted that
the company does not have its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in |
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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) |
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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 |
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 |
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Source
: CIA |
ANDIAMEX ASIA
LTD.
ADDRESS: c/o Wing Fung Jewellery Manufacturing Ltd.
Unit 13, 3/F., Tower A, Focal
Industrial Centre,
PHONE: 852-9313 6030
E-MAIL: andiamexdiamonds@gmail.com
Managing Director: Mr. Raphael Rubin
Incorporated on: 31st May, 2013.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing Banker: Industrial & Commercial Bank of
Banking Relation: Satisfactory.
Registered Head
Office:-
c/o Wing Fung Jewellery Manufacturing Ltd.
Unit 13, 3/F., Tower A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
Associated Company:-
Rubin & Zonen BVBA
Hoveniersstraat 51, 2018 Antwerpen, Belgium.
61524821
1916238
Managing Director: Mr. Raphael Rubin
[Hong Kong Mobile Phone No.: 852-9313 6030]
ISSUED SHARE
CAPITAL: HK$10,000.00
SHAREHOLDERS: (As per registry dated 31-05-2014)
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Name |
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No. of shares |
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Raphael RUBIN |
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4,000 |
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Ariel RUBIN |
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4,000 |
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Joeri WILK |
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2,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS: (As per registry dated 28-11-2014)
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Name (Nationality) |
Address |
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Raphael RUBIN |
Vijfhoekstraat 13, 2600, Belgium. |
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Ariel RUBIN |
rehov Bar llan 22, 65223 Tel Aviv, Belgium. |
SECRETARY: (As per registry dated 31-05-2014)
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Name |
Address |
Co. No. |
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Fansway Secretaries Ltd. |
Rooms 1009-1012, 10/F., K Wah Centre, 191 Java Road, North Point, Hong Kong. |
0048960 |
The subject was incorporated on 31st May, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Sunny Ocean Development Ltd., name changed to the present style on 25th June, 2014.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Diamond Trader.
Lines: All kinds of diamonds
Employees: Nil.
Commodities Imported: India, Belgium, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, pre-payment, etc.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made a very small profit in 2013.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: UNKNOWN.
Commercial Morality: Satisfactory.
Banker: Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Andiamex Asia Ltd. is jointly owned by three Belgium merchants, namely, Raphael Rubin, holding 40% interests; Mr. Ariel Rubin, also holding 40%; Mr. Joeri Wilk, 20%. The former two are also directors of the subject. They are Belgium passport holders and do not have the right to reside in Hong Kong permanently.
The subject does not have its own operating office. Its registered office is in a Hong Kong-registered company located at Unit 13, 3/F., Tower A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong known as Wing Fung Jewellery Manufacturing Ltd. [Wing Fung] which is handling its correspondences and documents.
The subject has no employees in Hong Kong. All the employees in the office belong to Wing Fung.
We can reached Raphael Rubin at your given Hong Kong mobile phone number 852-9313 6030.
The subject is a diamond trader. It has had an associated company in Belgium known as Rubin & Zonen BVBA which is also operated by Raphael Rubin.
Rubin & Zonen and the subject are engaged in the same lines of business. The subject is trading in the following commodities: carat size diamond, loose diamond stones, all kinds of emeralds, etc.
Its rounds range from 0.01 pts to 5 carats, princess ranges from 0.10 pts to 5 carats while its emeralds are in fancy shapes.
In order to penetrate the international market further, Rubin & Zonen BVBA 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.
The subject’s business is chiefly handled by Raphael Rubin himself.
According to the accountant of the subject Fan, Chan & Co., the subject has had a number of business parties and its business is active in Hong Kong.
However, the subject’s history which is short in Hong Kong is just over a year and six months.
On the whole, since the trading of the subject is good, consider it good for normal business engagements in small to moderate credit amounts.
DIAMOND INDUSTRY –
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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
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Indian Rupees |
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US Dollar |
1 |
Rs.63.64 |
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|
1 |
Rs.98.98 |
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Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
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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.