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Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DIANCO (HK) LTD. |
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Registered Office : |
Unit 2, J2, 11/F, Kaiser Estate, Phase 2, |
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Country : |
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Date of Incorporation : |
13.07.2010 |
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Com. Reg. No.: |
52599095 |
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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 and
Jewellery Products. |
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No of Employees : |
2 |
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 Company |
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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 |
DIANCO (HK) LTD.
ADDRESS: Unit 2, J2, 11/F, Kaiser
Estate, Phase 2, 51 Man Yue Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-3904
2595
FAX: 852-3904 2594
E-MAIL: sales@dianco.com.hk
MANAGEMENT:
Managing Director: Mr. Jigarkumar
Sureshchandra Shah
Incorporated on: 13th July, 2010.
Organization: Private Limited
Company.
Capital: Nominal: HK$23,400,000.00
Issued: HK$23,400,000.00
Business Category: Diamond
& Jewellery Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
DIANCO (HK) LTD.
Registered Head
Office:-
Unit 2, J2, 11/F, Kaiser Estate, Phase 2, 51 Man Yue Street, Hunghom,
Kowloon, Hong Kong.
Holding Company:-
Dianco Singapore Pte. Ltd., Singapore.
Associated
Companies:-
D. Navinchandra Exports Pvt. Ltd., India.
Dianco (Shanghai) Ltd., China.
Dianco B.V.B.A., Belgium.
Dianco DMCC, UAE.
Dianco LLC, UAE.
52599095
1479718
Managing Director: Mr. Jigarkumar
Sureshchandra Shah
Nominal Share Capital: HK$23,400,000.00 (Divided into 23,400,000 shares
of HK$1.00 each)
Issued Share Capital: HK$23,400,000.00
(As per registry dated 13-07-2014)
|
Name |
|
No. of shares |
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Dianco Singapore Pte. Ltd. 300, Beach Road, # 33-04/06 The Concourse, Singapore 199555. |
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23,400,000 ======== |
(As per registry dated 13-07-2014)
|
Name (Nationality) |
Address |
|
Jigarkumar Sureshchandra SHAH |
Flat C, 22/F., Tower 5, The Greenwood (Phase 1), Laguna Verde, 8
Laguna Verde Avenue, Kowloon, Hong Kong. |
(As per registry dated 13-07-2014)
|
Name |
Address |
Co. No. |
|
Top Establishment Ltd. |
Room 2207-2209, 22/F., Tower 2, Lippo Centre, 89 Queensway, Admiralty,
Hong Kong. |
0409655 |
The subject was incorporated on 13th July, 2010 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 and
jewellery products, etc.
Employees: 2.
Commodities Imported: India, other
Asian countries, etc.
Markets: Hong Kong,
Singapore, Southeast Asia, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T
Nominal Share Capital: HK$23,400,000.00 (Divided into 23,400,000 shares of
HK$1.00 each)
Issued Share Capital: HK$23,400,000.00
Increase of Nominal Capital:-
|
From |
HK$ 780,000.00 |
to |
HK$12,480,000.00 |
on |
14-03-2011 |
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From |
HK$12,480,000.00 |
to |
HK$23,400,000.00 |
in |
June 2013 |
Alternation of Issued Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
|
31-03-2011 |
paid up |
HK$ 770,000.00 |
|
14-03-2011 |
paid up |
HK$11,700,000.00 |
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June 2013 |
paid up |
HK$10,920,000.00 |
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|
–––––––––––––––– |
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Total: |
paid up |
HK$23,400,000.00 ============== |
Mortgage or Charge: (See
attachment)
Profit or Loss: Made small
profits in 2012 & 2013.
Condition: Business is
normal.
Facilities: Making active
use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
ABN AMRO Bank N.V., Hong Kong Branch.
Antwerpse DiamantBank NV.
(Also known as Antwerp Diamond Bank NV), Hong Kong Branch.
Standing: Small.
Having issued 23,400,000 ordinary shares of HK$1.00 each, Dianco (HK)
Ltd. is wholly owned by Dianco Singapore Pte. Ltd. [Dianco] which is a
Singapore-based firm.
The managing director of the subject Mr. Jigarkumar Sureshchandra Shah
is a Hong Kong ID holder. He is also the
only director of the subject.
The subject is a polished diamond trader. Its range of polished diamonds encompasses a
variety of colours, clarities and carats.
It offers round brilliants from stars to pointers, in whites, spotted
whites. It also offers various types of
assortments with excellent grading and adequate volumes, along with GIA, IGI,
and HRD certified goods up to 3 carats in D to I colours with clarity ranging
from VVS to I3. Its products are
marketed in Hong Kong, and exported to Singapore, other Southeast Asian
countries, the Middle East, etc.
Business is normal.
Dianco is a marketing affiliate of D. Navinchandra Exports which was
established in 1970. D. Navinchandra
Exports is also an affiliated company of Rio Tinto.
Dianco has a direct supply of rough diamonds from DTC, Rio Tinto, BHP
and Alrosa. These four are the main
rough diamond stone suppliers.
Along with the group’s state of the art manufacturing facilities in
Surat makes Dianco the preferred supplier of quality polished diamonds to
reputed jewellery manufacturers the world over.
Dianco has got from Rio Tinto round brilliants from 0.005 cts to 0.90
cts in the following specifications:
Whites from 0.005cts to 0.90cts;
Light Browns and Light Capes from 0.01cts to 0.17cts;
VVS-I3 qualities; &
GIA, HRD and IGI certified goods, from 0.90cts to 3.00cts.
The subject has had an associated company in China known as Dianco
(Shanghai) Ltd. This company is located
at B706 A, China Diamond Exchange, 1701 Century Avenue, Pudong, Shanghai,
China.
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 Jewellery Show 2015” which will be
held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during
the period of 5th to 9th March, 2015.
The history of the subject in Hong Kong is just over four years and two
months.
On the whole, consider it good for normal business engagements in small
credit amounts.
|
Date |
Particulars |
Amount |
|
05-06-2012 |
Instrument: Debenture Property: 1) All stocks shares bonds
and securities of any kind whether marketable or otherwise and all other
interests including loan capital of the Company 2) All book and other
debts revenues and claims 3) The uncalled capital
goodwill and all patents patent applications trade marks trade names
registered designs and copyrights and all licences and ancillary and
connected rights 4) The undertaking and
all others of the Company Mortgagee: Antwerpse DiamantBank NV (also known
as Antwerp Diamond Bank NV), Hong Kong Branch. |
All money and the discharge of all obligations and liabilities |
|
11-06-2013 |
Instrument: Floating Charge Over Assets Property: All the company’s undertaking, property and assets whatsoever and
wheresoever both present and future including all book and other debts revenues
and claims both present and future due or owing or which may become due or
owing to the company, all its uncalled capital , goodwill and all patents,
patent applications, trade marks, trade names, registered design copyrights
and all licences and ancillary and connected rights relating to the
intangible property both present and future of the company Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch. |
All monies, obligations and liabilities covenanted to be paid or
discharged by the company in respect of the aggregate of all amounts owing by
the company to the bank from time to time |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.04 |
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1 |
Rs.98.64 |
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Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.