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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
KEYA DIAMOND (HK) LTD. |
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Registered Office : |
Suite D, 5/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.03.2012 |
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Com. Reg. No.: |
59531101 |
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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 : |
3. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Business is Under Development |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
KEYA DIAMOND
(HK) LTD.
ADDRESS: Suite D, 5/F., Cameron Plaza, 23-25A
Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-3483 5229
FAX: 852-3483
5216
Managing Director: Mr. Bhavin
Maganbhai Zadafiya
Incorporated on: 16th March, 2012.
Organization: Private Limited Company.
Paid Up Capital: HK$1,000,000.00
Business Category: Diamond
Trader.
Employees: 3.
Main Dealing Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
KEYA DIAMOND
(HK) LTD.
Registered Head
Office:-
Suite D, 5/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon,
Hong Kong.
59531101
1717664
Managing Director: Mr. Bhavin
Maganbhai Zadafiya
(Mobile Phone No.: 852-9233 5041)
PAID UP CAPITAL: HK$1,000,000.00
SHAREHOLDER: (As per registry dated 16-03-2014)
|
Name |
|
No. of shares |
|
Bhavin Maganbhai ZADAFIYA |
|
1,000,000 ======= |
DIRECTOR: (As per registry dated 16-03-2014)
|
Name (Nationality) |
Address |
|
Bhavin Maganbhai ZADAFIYA |
Flat H, 6/F., Tower 16, Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon,
Hong Kong. |
SECRETARY: (As per registry dated 16-03-2014)
|
Name |
Address |
|
Bayani Divino Bautista PONCE |
Flat A, 8/F., Tower 5, Caribbean Coast, 2 King Tung Road, Tung Chung,
Lantau Island, Hong Kong. |
The subject was incorporated on 16th March, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds, etc.
Brand Name: Zadaphia Group.
Employees: 3.
Commodities Imported: India, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: As per contacted.
Terms/Buying: L/C, T/T, D/P, etc.
Paid Up Capital: HK$1,000,000.00
Profit or Loss: Kept
a balance account in 2013.
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 1,000,000 ordinary shares of HK$1.00 each, Keya Diamond
Ltd. is wholly owned by Bhavin Maganbhai Zadafiya who is an India
merchant. He is a Hong Kong ID holder
and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
Zadafiya has been in Hong Kong for a very long time as he has got his
Hong Kong ID before setting up the subject in Hong Kong.
The subject is a diamond trader.
He can be reached at his Hong Kong mobile phone number 852-9233 5041.
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, China and
the other Asian countries. Business is
still under development.
Most of the subject’s diamonds ranging from 0.005 cts to 5.00 cts which
are in all shapes like round, marquise, pears, emerald, princess, buggets,
tappers, etc. It also has diamonds in
white, brown, light colour and fancy colour.
However, it is significant for its round and loose diamonds.
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.
The business of the subject is chiefly handled by Bhavin Maganbhai
Zadafiya himself. History in Hong Kong
is just over two years and seven months.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SHG |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.