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Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
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Name : |
JULIUS KLEIN - ELIAZ DIAMONDS ASIA LTD. |
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Registered Office : |
Unit 402-403, 4/F., Winway Building, 50 Wellington Street,
Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.12.2002 |
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Com. Reg. No.: |
33247932 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS. |
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No. of Employees |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
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 |
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 has no tariffs on imported goods, and it levies excise duties on
only four commodities, whether imported or produced locally: 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, its continued reliance on foreign
trade and investment leaves it vulnerable to renewed global financial market
volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
JULIUS KLEIN - ELIAZ
DIAMONDS ASIA LTD.
ADDRESS: Unit 402-403, 4/F., Winway Building, 50 Wellington Street, Central, Hong Kong.
PHONE: 852-3421 1555
FAX: 852-3421 1551
E-MAIL: info@eliaz.com.hk
info@eliazdiamonds.com
Managing Director: Mr. Azriel Garty
Incorporated on: 20th December, 2002.
Organization: Private Limited Company.
Capital: Nominal:HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 402-403, 4/F., Winway Building, 50 Wellington Street, Central, Hong Kong.
Holding Company:-
Julius Klein - Eliaz Diamonds Ltd., Israel.
Associated/Affiliated
Companies:-
JKD West LLC, USA.
Julius Klein - Eliaz Diamonds Europe BVBA, Belgium.
Julius Klein Diamonds Botswana Pty. Ltd., Botswana.
Julius Klein Diamonds LLC, USA.
Julius Klein Diamonds Namibia Pty. Ltd., Namibia.
Julius Klein Diamonds South Africa Pty. Ltd., South Africa.
Julius Klein-Eliaz Diamonds India Pvt. Ltd., India.
Julius Klein-Eliaz Diamonds Shanghai Ltd., China.
Ritani LLC, USA.
33247932
0826707
Managing Director: Mr. Azriel Garty
Contact Person: Ms. Eva Yeung
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 20-12-2013)
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Name |
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No. of shares |
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Julius Klein - Eliaz Diamonds Ltd. 14/F., Maccabi Bilding, 1 Jabotinsky Street, Ramat-Gan 52520, Israel. |
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9,999 |
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Azriel GARTY |
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1 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 01-01-2014)
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Name (Nationality) |
Address |
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Azriel GARTY |
Derech Habear 3, Kfar Shmaryahu, Israel. |
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Gonen GRICHMAN |
12 Hamelacha St., Ramat Hasharon 47445, Israel. |
(As per registry
dated 20-12-2013)
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Name |
Address |
Co. No. |
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Willie Management Services Ltd. |
Room 907, 9/F., Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Hong Kong. |
1159285 |
The subject was incorporated on 20th December, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Deep Ocean Trading Ltd., name changed to Eliaz Diamonds Asia Ltd. on 2nd February, 2004 and further to the present style on 31st March, 2006.
Formerly the subject was located at Unit 1003, 10/F., Winway Building, 50 Wellington Street, Central, Hong Kong, moved to Unit 402-403, 4/F. of the same building in November 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds
Brand Names: “RITANI’ and “Julius Klein-Eliaz”.
Employees: 6.
Commodities Imported: Israel, India, other European countries, etc.
Markets: Hong Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making 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: Very Good.
Julius Klein - Eliaz Diamonds Asia Ltd. is a wholly-owned subsidiary of Julius Klein - Eliaz Diamonds Ltd. [JKED] which is an Israel-based firm.
The subject trades in jewellery sets, colour gemstones and diamonds. It is trading in the following commodities: loose diamonds, emerald cut diamonds, jewellery set, natural diamonds, 25-carat diamonds, coloured gemstones, rings.
For over four decades, JKED has been internationally recognized as one of the leading manufacturers and distributors of exceptional quality diamonds.
An affiliate company of the Julius Klein Group [JKG/Group], a Diamond Trading Company [DTC] Sightholder with offices in New York, Beverly Hills, Johannesburg, Windhoek, JKED first opened its doors in Tel Aviv, Israel in 1980. Established by Mr. Azri Garty, JKED started its business as a buying agent and after a few years began manufacturing operations. In 1995, JKED was promoted to be the DTC client.
JKG has been a preeminent
diamantaire in the global diamond industry.
With an extraordinary inventory of the finest quality diamonds
(specializing in 50+ carats), exceptional stones, hard-to-find items and unique
diamond jewelry, JKG is an all-encompassing supplier to its retail partners.
From what began
as a family owned business on New York’s 47th Street, Julius Klein Diamonds
joined forces with Eliaz Diamonds in 1994 and has since expanded its business
globally, currently boasting sales offices in New York, Los Angeles,
Florida, Tel Aviv, Antwerp and Hong Kong, and manufacturing facilities in New
York, Tel Aviv, South Africa and Namibia.
Since inception, JKED has grown into a multinational business with offices in Antwerp besides the subject in Hong Kong. JKED was named one of Israel’s top 30 exporters in 2003 by the office of Israel’s diamond comptroller under the auspices of the Ministry of Industry, Trade & Employment.
JKED’s wide range of inventory includes round and fancy shape diamonds from 10 points to 20 carats, a wide variety of colours (including one of a kind pinks, peaches, blues, purples, greens, reds and all those in the fancy yellow family), all clarity grades and diamonds with GIA, AGS, IGI and HRD certificates (provided according to the needs of its clients).
One of the Chief Executive Officers of the Group Mr. Kobi Laibovich, an expert with 40 years of experience in diamond polishing, leads the factory in Tel Aviv, Israel and helps controlling the plant in Johannesburg, South Africa. The Group’s products are exported to worldwide countries. Business is active.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong, Macau and other foreign large cities.
In order to penetrate the international market further, the subject 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. Its booth No. is AWE 2-L21.
The subject is fully supported by the Group. Business is chiefly handled by Ms. Eva Yeung who is a Hongkongnese. History in Hong Kong is over eleven years and eight months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.41 |
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|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.