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Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
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Name : |
KRIS DIAMOND |
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Formerly Known as : |
Kris Information
Technology |
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Registered Office : |
Room 506, 5/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.01.2004 |
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Com. Reg. No.: |
34187307-000-01 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER, WHOLESALER AND DISTRIBUTOR OF ALL KINDS OF
DIAMOND, GEMSTONE & JEWELLERY PRODUCTS SUBJECT
PRODUCT RANGES INCLUDES : ·
DIAMOND GOLD JEWELLERY; ·
DIAMOND PLATINUM JEWELLERY; ·
GEMSET GOLD JEWELLERY – 18 KARAT; ·
GEMSET PLATINUM JEWELLERY – PT900; ·
PLAIN GOLD JEWELLERY – 18 KARAT; & ·
PLAIN PLATINUM JEWELLERY – PT900. |
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No of Employees : |
03 |
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 : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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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.
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Source
: CIA |
KRIS DIAMOND
Room 506, 5/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-9287 1787
FAX: Not available.
Manager: Ms. Ruchika Kala
Establishment: 1st January, 2004.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond & Gemstone Trader.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 506, 5/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.
34187307-000-01
Manager: Ms. Ruchika Kala (Mobile: 852-6486 0832)
Name: Ms. Ruchika KALA
Residential Address: Flat B4, 14/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 1st January, 2004 as a sole proprietorship concern owned by Ms. Ruchika Kala under the Hong Kong Business Registration Regulations.
Originally the subject was registered under the name of Kris Diamond, name changed to Kris Information Technology on 16th March, 2007 and further changed back to the initial name on 20th June, 2007.
At the very beginning, the subject’s office was located at Flat B4, 14/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong where is the residence of the proprietor, moved to Room 906, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in November 2004; to Room 908, 9/F. of the same building in September 2009; to Room C, 38/F., Block 16, Laguna Verde, 8 Laguna Verde, Hunghom, Kowloon, Hong Kong in July 2012 and further to the present address in February 2013.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Wholesaler and Distributor.
Lines: All kinds of Diamond, Gemstone & Jewellery Products
Employees: 3.
Commodities Imported: Imported from India, other Asian countries, Europe, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C, T/T, D/A, etc.
Capital: Not disclosed.
Profit or Loss: Making a small profit in the past years.
Condition: Keeping in a rather active manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Bankers:-
· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
· Bank of China (Hong Kong) Ltd., Hong Kong.
· The Bank of East Asia Ltd., Hong Kong.
Standing: Small.
Business commenced in January 2004, Kris Diamond is a sole proprietorship set up and owned by Ms. Ruchika Kala who is an Indian businesswoman. She is an India passport holder and also a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
Several years ago, the subject’s office was located at Ruchika Kala’s residence, moved to the present address in February 2013. Her business has been normally and rather actively operated since 2004.
We can reach an employee of the subject at your given phone number 852‑9287 1787. He is also an Indian.
The subject is a diamond and gemstone trader. Commodities are chiefly imported from Europe, India and other Asian countries. Hong Kong, Japan and the other Asian countries are its prime markets.
According to the subject, it is also engaged in diamonds and jewellery products retailing. The followings are the subject’s main products:-
· Diamond gold jewellery;
· Diamond platinum jewellery;
· Gemset gold jewellery – 18 karat;
· Gemset platinum jewellery – pt900;
· Plain gold jewellery – 18 karat; &
· Plain platinum jewellery – pt900.
The subject had an affiliated concern known as Beauty Diam Co. Ltd. [BDCL] which was a Hong Kong-registered firm located at the former operating address of the subject. But now BDCL has been dissolved.
The subject’s business is chiefly handled by Ruchika Kala herself who can be reached at her Hong Kong mobile phone number 852-6486 0832.
The subject is supported by the Kala family. Overall business is satisfactory. The history of the subject in Hong Kong is over ten years.
On the whole, consider it 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.