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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
DP
TZUAN (HK) LTD. |
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Registered Office : |
Room 708, 7/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.08.2013 |
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Com. Reg. No.: |
61948984 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of diamond and gemstone subject is dealing in jewellery diamonds ranging from 2 points to 2 carats, and in all colours – from D to L colours and all shades of brown Subject products range includes single cuts, full cuts and
fancy shapes such as princess, baguettes, marquise, pearl, oval, emerald and
heart |
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No. of Employees |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Hong Kong |
A2 |
A2 |
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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 |
Hong Kong ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9 million in 2012, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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Source : CIA |
DP TZUAN (HK) LTD.
Room 708, 7/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
E-MAIL: dptzuan.hk@gmail.com
Managing Director: Mr. Jagdish Shantilal Joshi
Incorporated on: 27th August, 2013.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$10,000.00
Business Category: Diamond & Gem Trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 708, 7/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.
Associated
Company:-
Inter-Gems (HK) Ltd., Hong Kong.
61948984
1958479
Managing Director: Mr. Jagdish Shantilal Joshi
Nominal Share Capital: HK$100,000.00 (Divided into 10,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 27-08-2013)
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Name |
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No.
of shares |
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Jagdish Shantilal JOSHI |
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1,000 ==== |
(As per registry
dated 27-08-2013)
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Name (Nationality) |
Address |
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Jagdish
Shantilal JOSHI |
B-007 Sagar Apartment,
Lokhandwala Complex Andheri West, Mumbai, Pin: 400053, Maharashtra,
India. |
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Dipan Jagdish
PATEL |
5/F., Kaiseng Commercial
Centre, 4-6 Hankow Road, Tsimshatsui, Kowloon, Hong Kong. |
(As per registry
dated 27-08-2013)
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Name |
Address |
Co.
No. |
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Cheng & Cheng Corporate Services Ltd. |
Room 1201, 12/F., Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong. |
0307222 |
The subject was incorporated on 27th August, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong, moved to the present address with effect from 1st November, 2013.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Diamond & Gem Trader.
Lines: All kinds of diamonds and gems
Employees: 2.
Commodities Imported: India, Belgium, Israel, other European countries, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Annual Turnover: Un-reported.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$100,000.00 (Divided into 10,000 shares of HK$10.00 each)
Issued Share Capital: HK$10,000.00
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.
Having issued 1,000 ordinary shares of HK$10.00 each, DP Tzuan (HK) Ltd. is wholly owned by Mr. Jagdish Shantilal Joshi who is an India merchant. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. The reserve director of the subject Mr. Dipan Jagdish Patel is also an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
Business commenced in August 2013, the subject is a diamond and gemstone trader.
The subject is dealing in jewellery diamonds ranging from 2 points to 2 carats, and in all colours – from D to L colours and all shades of brown. Products include single cuts, full cuts and fancy shapes – such as princess, baguettes, marquise, pearl, oval, emerald and heart. Mr. Dipan Jagdish Patel is also the managing director of Inter-Gems (HK) Ltd. and Shrenuj Far East Ltd. Both companies are carat-size diamond traders.
Your given Hong Kong phone number 852-2311 11275 is not correct as there are too many digits.
To our knowledge, the subject has made investments in Calypte Biomedical Corporation [CBC]. In January 2014, CBC agreed to sell 400 million new shares of its stock to the subject for US$2 million. CBC is a publicly traded company based in Portland, Oregon, the United States.
The contact person of the subject is also Dipan Jagdish Patel. The history of the subject in Hong Kong is just over six months.
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.
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.61.86 |
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|
1 |
Rs.103.52 |
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Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.