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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TACHE ASIA LTD. |
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Registered Office : |
10/F., Kailey Tower, 16 Stanley Street, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.02.2002 |
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Com. Reg. No.: |
32388321 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL
KINDS OF DIAMONDS AND JEWELLERY. |
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No. of Employees : |
8 |
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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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 |
TACHE
ASIA LTD.
10/F., Kailey
Tower, 16 Stanley Street, Central, Hong Kong.
PHONE: 852-2815 0668
FAX: 852-2815 1804
E-MAIL: hong-kong@tachediamonds.com
sales@tacheasia.biz.com.hk
Managing Director: Mr. Daniel Illovic
Incorporated on: 15th February, 2002.
Organization: Private Limited Company.
Capital: Nominal: HK$7,810,000.00
Issued: HK$7,810,000.00
Business Category: Jewellery and Diamond Trader.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
TACHE
ASIA LTD.
Registered
Head Office:-
10/F., Kailey
Tower, 16 Stanley Street, Central, Hong Kong.
Holding
Company:-
Tache Investments
S.A., Luxembourg.
Associated
Companies:-
Coindre-Steiner SA, France.
Fildiam BVBA, Belgium.
Kimchi Diam Ltd., Israel.
Tache Botswana, Botswana.
Tache Company NV, Belgium.
Tache Diamonds China Ltd., China.
Tache Diamonds Italia S.r.l., Italy.
Tache Diamonds South Africa (Pty) Ltd., South Africa.
Tache Diamonds USA LLC, USA.
Tache France/Societe Eric, France.
Tache Germany, Germany.
Tache India Pvt. Ltd., India.
Tache Investments S.A., Switzerland.
Tache Japan KK, Japan.
Tache Jewelry Pvt. Ltd., India.
Tache N.V., Belgium.
Tache USA Inc., USA.
Vancut Diamond Works (Pty) Ltd., South Africa.
Vigoureux Joaillerie S.A., France.
Yakarim Diamonds DMCC, UAE.
etc.
32388321
0786340
Managing Director: Mr. Daniel
Illovic
Nominal Share
Capital: HK$7,810,000.00 (Divided into 7,810,000 shares of HK$1.00 each)
Issued Share
Capital: HK$7,810,000.00
(As
per registry dated 15-02-2014)
|
Name |
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No.
of shares |
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Tache Investments S.A. 52 Rue Marechal
Foch, L-1527 Luxembourg, Rcs Number B87621. |
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7,810,000 ======= |
(As
per registry dated 08-04-2014)
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Name (Nationality) |
Address |
|
Robert TACHE |
34 Charlottalei 2930, Brarchaat, Belgium. |
|
Jacques TACHE |
Peter
Benoitstraat 34, 2018 Antwerpen, Belgium. |
|
Daniel ILLOVIC |
Flat A, 7/F., Soho 38, 38 Shelley Street,
Hong Kong. |
(As
per registry dated 15-02-2014)
|
Name |
Address |
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YEUNG
Pui Shan Polly |
Flat H, 1/F., Block 17, Hoi Ning Mansion, Riviera Garden, Tsuen Wan,
New Territories, Hong Kong. |
The
subject was incorporated on 15th February, 2002 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Room 1701, 17/F., Queen’s Place, 74 Queen’s
Road Central, Hong Kong, moved to the present address in March 2013.
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.
Employees: 8.
Commodities Imported: India, Belgium, other Asian countries, etc.
Markets: China, Hong Kong, other Asian countries, Middle East, Western Europe, North America, Central & South America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$7,810,000.00 (Divided into 7,810,000 shares of HK$1.00 each)
Issued Share Capital: HK$7,810,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
ABN AMRO Bank N.V., Hong Kong Branch.
Standing: Very Good.
Tache
Asia Ltd. is a wholly-owned subsidiary of Tache Investments S.A. which is a
Luxembourg-based firm.
The
subject is a diamond and jewellery trader.
It is a member of the Tache Alliance [Tache] which is a group of diamond
and jewellery companies, operating in twelve countries on five continents.
The
subject is trading in the same commodities as Tache.
Tache
is a diamond trading company sightholder.
It is famous for its Russian cut rounds and princess diamonds. The founder of Tache is Mr. Jacques
Tache while the CEO is Mr. Robert Tache.
Tache
entered the diamond market in 1957. In
the early 1980s, Tache found its niche as a major manufacturer of excellent
Russian cut diamonds, and was one of the first foreign companies to collaborate
with Russian state-owned factories, ensuring a constant supply of the cut
diamonds in the world.
Tache
became a DTC (Diamond Trading Company) sightholder over 30 years ago, and
has benefited from a constant supply of rough diamonds.
Now,
three generations later, Tache is a leading manufacturer and wholesaler of
Russian cut stones. Using traditional
and well established techniques, mastered in the best polishing factories of
Russia, Tache has expended its factories in many countries of the world – from
Russia to South Africa, Armenia and China.
Tache
is able to manufacture cut rounds and princess cut diamonds of all sizes – from
0.01 carat to unique 10+ carat stones.
Tache
has rapidly expanded globally, and established a strong network of offices and
partners around the world, all working under the umbrella of the Tache
Alliance. Members of the Tache Alliance
integrate well-known Tache standards and principles of quality, service, and
continuous diamond supply into the heart of the diamond industry
worldwide. Tache is serving its clients
from offices in Germany, France, Italy, the United States, India, Australia,
China, Dubai, Switzerland, South Africa, Botswana and Belgium.
The
subject is serving the customers in Hong Kong.
Tache
Company NV, the centrepiece of the Tache Alliance and Vancut Diamond
Works. Tache Company NV is headquartered
in Antwerp, Belgium.
Having
more than 1500 people, Tache is a diamond polisher, traders, and jewellery
manufacturer, engineer.
As
an industry leader, it deals in diamonds from rough sourcing all the way
through to finish products. Over the
years, it has developed a reputation for quality control and a reliability of
supply. In addition to the diamonds
themselves, it also offers its customers with services like rough diamond
production financing, globe-spanning distribution, outstanding jewellery
manufacturing, and marketing consultancy.
Tache
Group has associated companies include Fildiam BVBA, Miller Diamonds Pty. Ltd.,
Tache USA Inc., Tache Diamonds Italia Srl, Tache France/Société Eric, Coindre-Steiner
SA, Tache Japan KK, Tache Jewellery Pvt., Ltd., Tache India Pvt. Ltd., Nikos
Jewels, etc.
Tache
Group’s associate, Vancut Diamond Works (Pty) Ltd., which is headquartered in
Antwerp, has a cutting and polishing factory based in Johannesburg, South
Africa, and employs some 160 workers.
In
order to penetrate the international market further, Tache Company NV 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
subject is fully supported by Tache.
History in Hong Kong is over twelve years and eight months.
On the whole,
consider the subject good for normal business engagements.
|
Date |
Description of
Instrument |
Mortgagee |
|
11-01-2012 |
Security Over
Deposits with the Bank Limited Company – Under Seal |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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05-07-2014 |
Floating Charge
Over Assets |
ABN AMRO Bank N.V., Hong Kong Branch. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.22 |
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1 |
Rs.98.52 |
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Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
PDT |
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.