MIRA INFORM REPORT

Report Date :

30.01.2014

IDENTIFICATION DETAILS

Name :	AMS SUPER TRADERS
Registered Office :	Flat 9, 9/F., Block D, Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	29.07.2011
Com. Reg. No.:	54083713-000-07
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds, etc.
No. of Employees :	Not Available

NOTES:

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ECGC Country Risk Classification List – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Hong Kong	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

AMS SUPER TRADERS

Company ADDRESS

Flat 9, 9/F., Block D, Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Mitesh Arvindkumar Shah

SUMMARY

Establishment: 29th July, 2011.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Head Office:-

Flat 9, 9/F., Block D, Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

54083713-000-07

MANAGEMENT

Manager: Mr. Mitesh Arvindkumar Shah

SOLE PROPRIETOR

Name: Mr. Mitesh Arvindkumar SHAH

Residential Address: Room B/4, 8/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 29th July, 2011 as a sole proprietorship concern owned by Mr. Mitesh Arvindkumar Shah under the Hong Kong Business Registration Regulations.

Initially the subject was located at Room B/4, 8/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in February 2012.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of diamonds, etc.

Employees: Nil.

Commodities Imported: India, etc.

Markets: Hong Kong, other Asian countries, etc.

Terms/Sales: As per contracted.

Terms/Buying: L/C or prepayment.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making fairly 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

AMS Super Traders is a sole proprietorship set up and owned by Mr. Mitesh Arvindkumar Shah who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. Shah is the manager of the subject.

Business commenced in July 2011, the subject is a diamond trader.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject does not have its own operating office. Its registered address is in a private building located at Flat 9, 9/F., Block D, Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong. This seems to be the new residence of Shah. The subject moved to this new address in February 2012. The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.

The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut diamonds. Most of the commodities are imported from India. Prime markets are Hong Kong, Japan and the other Asian countries. Business is still under development.

The subject is just a one-man company. Business is chiefly handled by Shah himself. History in Hong Kong is just about nine months.

Since the registered office of the subject is in a residential building, history is short in Hong Kong, on the whole, consider it good for normal business engagements on secured basis.

DIAMOND INDUSTRY – INDIA

- 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 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- 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.

- 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.

- 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.

- The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

- 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.

- Excerpts from Times of India dated 30^th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

- Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.103.12
Euro	1	Rs.84.96

INFORMATION DETAILS

Report Prepared by :

NIS

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