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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SEJAL GEMS HONG
KONG CO. LTD. |
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Registered Office : |
Room 1107, 11/F., Hunghom Commercial Centre, Block B, 37 Ma Tau Wai Road, To Kwa Wan, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
11.02.2004 |
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Com. Reg. No.: |
34290083 |
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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 diamond
Jewellery. |
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No. of Employees : |
5 |
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 : |
Satisfactory |
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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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hongkong |
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 |
HONGKONG - 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 |
(Your enquiry given as:
SEJAL GEMS HONGKONG CO. LTD.
of the same address)
SEJAL GEMS HONG
KONG CO. LTD.
ADDRESS: Room
1107, 11/F., Hunghom Commercial Centre, Block B, 37 Ma Tau Wai Road, To Kwa Wan, Kowloon, Hong Kong.
PHONE: 852-2627 1272, 2627 1273
FAX: 852-2627 1279
E-MAIL: hongkong@sejalgems.in
Managing Director: Mr. Abhaykumar Chhabildas Fofani
Incorporated on: 11th February, 2004.
Organization: Private Limited Company.
Capital: Nominal:
HK$4,000,000.00
Issued: HK$4,000,000.00
Business Category: Diamond
Trader.
Employees: 5.
Main Dealing Banker: Antwerpse
DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong ` Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1107, 11/F., Hunghom Commercial Centre, Block B, 37 Ma Tau Wai Road,
To Kwa Wan, Kowloon, Hong Kong.
Ariha Diamond Jewelry Co. Ltd., Thailand.
C & S Gems & Jewels Sdn. Bhd., Malaysia.
Priti Gems Co. Ltd., Thailand.
S.M. Jewels Pte. Ltd., Singapore.
Sejal Diam Inc., USA.
Sejal Exports, India.
Sejal Gems International DMCC, UAE.
Sejal Gems Pvt. Ltd., India.
Sejal Gems S.H Ltd., China.
Sejal Gems, India.
Veer Diamonds Ltd., Hong Kong.
34290083
0881980
Managing Director: Mr. Abhaykumar
Chhabildas Fofani
Nominal Share Capital: HK$4,000,000.00
(Divided into 4,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,000,000.00
(As per registry
dated 11-02-2014)
|
Name |
|
No. of shares |
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Chandra Kumar PUROHIT |
|
800,000 |
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Sejal Gems International DMCC MZ-2, Al Dhagaya Building, Plot No. 210, Next to Gold Land, Deira,
Gold Souq, Dubai, UAE. |
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799,000 |
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Abhaykumar Chhabildas FOFANI |
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901,000 |
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Rubin Pankaj DOSHI |
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600,000 |
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Suken Arvindbhai SHAH |
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900,000 |
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–––––––– |
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Total: |
4,000,000 ======= |
(As per registry
dated 11-02-2014)
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Name (Nationality) |
Address |
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Suken Arvindbhai SHAH |
Flat G, 9/F., Luna Court, 53-55 Kimberly Road, Tsimshatsui, Kowloon,
Hong Kong. |
|
Abhaykumar Chhabildas FOFANI |
Flat B, 2/F., Kok Pah Mansion, 58-60 Cameron Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry
dated 11-02-2014)
|
Name |
Address |
Co. No. |
|
Global Consulting Management Ltd. |
Room 1906, 19/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
1785691 |
The subject was incorporated on 11th February, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 10B, 11/F., Block A, Focal
Industrial Building, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong. moved the
present address in 30th November, 2011.
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 diamond jewellery.
Brand Name: SEJAL.
Employees: 5.
Commodities Imported: India,
Belgium, other Asian countries, etc.
Markets: Hong
Kong, Thailand, other Asian countries, Europe, Middle East, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$4,000,000.00 (Divided into 4,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$4,000,000.00
Mortgage or Charge:-
Date of Debenture: 24-06-2008
Amount: All money and the discharge of all
obligations and liabilities
Property:
1) All stocks shares bonds and securities of
any kind
2) All book and other debts revenues and
claims both present and future
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 relating to the
intangible property
4) The undertaking and all other assets of
the Company
Mortgagee: Antwerpse DiamantBank NV (also
known as Antwerp Diamond Bank NV), Hong Kong Branch.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Antwerpse
DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong Branch.
Standing: Normal.
Having issued 4 million ordinary shares of HK$1.00 each, Sejal Gems
Hong Kong Co. Ltd. is jointly owned by a Thai, three Indian and a
Dubai-based firm Sejal Gems International DMCC.
In April 2012, the shareholders of the subject was reshuffled.
The directors of the subject Suken Arvindbhai Shah and Abhaykumar
Chhabildas Fofani are Hong Kong ID holders.
The subject is an associated company of Sejal Exports which is an
India-based firm. It is specialized in
polished diamonds (including white and colour) and diamond jewellery. It provides customers with the diamonds in a variety
range of cuts and sizes. The subject
markets its products in Hong Kong and exports to China, Europe, Japan,
South Korea, Southeast Asia, Scandinavia, the United States, etc.
The founder of Sejal Exports Mr. Sevantibhai M. Shah is an Indian. After the initial establishment, the actual
business enterprise of Sejal Exports India was started by Mr. Chandubhai M.
Shah, brother of Mr. Sevantibhai M. Shah.
Sejal Exports India was founded in about 1970.
Sejal Exports India’s core products are the diamonds ranging from -2 to
+2 ‑6.5 and +6.5, certified stone from 0.30 to 5.00. Now, it has become a rather significant
diamond trading firm in India. Its
products include fancy colours, Marquise, Pears, Tappers, Baguettes and Rose
Cut Diamonds, etc. It is able to provide
customers with 18 different grades for Diamond assortment. It also trades in Certified Diamonds. It has a huge stock of certified diamonds all
across the globe. Most of its products
bear the brand name SEJAL.
According to the subject, it is famous for its loose diamonds, carat
diamonds and watch diamonds.
By extending business relations in Bangkok, Malaysia, Singapore, New
York, and Dubai, Sejal Exports has extended its markets from the subcontinent
to almost the whole world. The subject
is one of the branch companies of Sejal Exports.
Sejal Exports has been actively setting up new facilities and
offices. At the same time, older
premises are being upgraded and better trained workforce is employed to support
and perk up its business.
Currently, Sejal Exports has had about 150 employees.
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 Watch & Clock Fair 2015” which will be held
in Hong Kong Convention and Exhibition Centre in Hong Kong during the period of
8th to 12th September, 2015. Its booth
No. is 1E-D31.
The subject’s business is chiefly handled by Nihar Sanghavi and
Abhaykumar Chhabildas Fofani.
As the history of the subject in Hong Kong is over ten years and eight
months, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
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|
1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
NIT |
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.