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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
R D GEMS HK LTD. |
|
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|
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Registered Office : |
Room C, 3/F., Cheerful |
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Country : |
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Date of Incorporation : |
16.07.2013 |
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Com. Reg. No.: |
61742065 |
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|
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Legal Form : |
Private Limited Company |
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|
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LINE OF BUSINESS : |
TRADER
OF ALL KINDS OF GEMSTONES AND DIAMONDS |
|
|
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No of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 |
R D GEMS HK LTD.
ADDRESS: Room C, 3/F., Cheerful Commercial
Building, 116-118 Ma Tau Wai Road, Hunghom, Kwoloon, Hong Kong.
PHONE: 852-2368 5275
FAX: 852-2311 7725
Managing Director: Mr. Piyush
Daga
Incorporated on: 16th July, 2013.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Gemstone
& Diamond Trader.
Employees: 3.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
R D
GEMS HK LTD.
Registered Head
Office:-
Room C, 3/F., Cheerful Commercial Building, 116-118 Ma Tau Wai Road,
Hunghom, Kwoloon, Hong Kong.
Associated
Company:-
R. D. Gems, Hong Kong. (Same
address)
61742065
1937874
Managing Director: Mr. Piyush
Daga
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 16-07-2013)
|
Name |
|
No. of share |
|
Piyush DAGA |
|
1 = |
(As per registry dated 16-07-2013)
|
Name (Nationality) |
Address |
|
Piyush DAGA |
Flat 2, 8/F., Hong Kiu Mansion, 313 Nathan Road, Kowloon, Hong Kong. |
(As per registry dated 16-07-2013)
|
Name |
Address |
|
Shruti PIYUSH DAGA |
Flat 2, 8/F., Hong Kiu Mansion, 313 Nathan Road, Kowloon, Hong Kong. |
The subject was incorporated on 16th July, 2013 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: Gemstone
& Diamond Trader.
Lines: All
kinds of gemstones and diamonds
Employees: 3.
Commodities Imported: India,
other Asian countries
Markets: Japan,
Hong Kong, North America, Scandinavia, Europe
Terms/Sales: L/C, T/T
Terms/Buying: L/C, pre-payment
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Too
early to offer an opinion.
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 Hong Kong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of HK$1.00, R D Gems HK Ltd. is
wholly owned by Mr. Piyush Daga 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.
The subject has had an associated company R. D. Gems, a Hong
Kong-registered company located at the same address. R. D. Gems is also owned and operated by
Piyush Daga.
The subject is trading in coloured gemstones and diamonds. According to the subject, it is trading in
the following commodities: mookaite jasper, green howlite emperor, gemstone
teardrops, agate druzy, cabochon, blue gemstone, dyeing turquoise beads,
agates, stainless steel zircon earrings.
The subject is also carrying the following semi-precious stones:
aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz,
citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst,
pink topaz, garnet, rose quartz.
It also trades in polished and cut loose diamonds. Commodities are chiefly imported from India,
other Asian countries. Products are
marketed in Hong Kong, and exported to Japan, North America, Scandinavia,
Europe.
The business of the subject is chiefly handled by Piyush Daga
himself. History in Hong Kong is just
over a year and three 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.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.