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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
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Name : |
S.S. DIAM (H.K.) LTD. |
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Registered Office : |
Room 1403, 14/F., |
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Country : |
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Date of Incorporation : |
14.11.2006 |
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Com. Reg. No.: |
37354894 |
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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 : |
2 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
S.S. DIAM
(H.K.) LTD.
ADDRESS: Room 1403, 14/F., Hart
Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2368 3648
FAX: 852-2368 3649
E-MAIL: ssdiam99@rediffmail.com
Managing Director: Mr. Sapan
Kirit Mehta
Incorporated on: 14th November, 2006.
Organization: Private Limited
Company.
Issued Capital: HK$1,500,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
S.S. DIAM
(H.K.) LTD.
Registered Head Office:-
Room 1403, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
37354894
1087402
Managing Director: Mr. Sapan
Kirit Mehta (Mobile: 852-6043 1315)
HK$1,500,000.00
(As per registry
dated 21-05-2014)
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Name |
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No. of shares |
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Sapan Kirit MEHTA |
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1,500,000 ======= |
(As per registry
dated 21-05-2014)
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Name (Nationality) |
Address |
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Sapan Kirit MEHTA |
Flat C, 4/F., Block 4, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong
Kong. |
(As per registry
dated 14-11-2013)
|
Name |
Address |
|
Bayani Divino Bautista PONCE |
Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung,
Lantau Island, Hong Kong. |
The subject was incorporated on 14th November, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject increased its issued share capital to HK$1.5 million in May
2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds,
Employees: 2.
Commodities Imported: India,
other Asian countries, Belgium, other European countries, etc.
Markets: Japan,
China, other Asian countries, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Issued Capital: HK$1,500,000.00
Indebtedness: HK$1,100,980.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 14-11-2013)
Mortgage or Charge: (See attachment)
Profit or Loss: Made
a small profit in the past years.
Condition: Business
is normal.
Facilities: Making
rather active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 1.5 million ordinary shares, S.S. Diam (H.K.) Ltd. is
wholly‑owned by Mr. Sapan Kirit Mehta who is an Indian. He is a Hong Kong ID Card holder and has
got the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is dealing in fine coloured diamonds and rare gem
stones. It supplies diamonds having
different carats and sizes. Products
carried include white and fancy coloured diamonds, unusual rose cut and
briolette cut diamonds. According to the
subject, its diamonds are below and about 1 ct.
Some of the commodities are polished diamonds. Finished products and polished diamonds are
marketed in Hong Kong, exported or re-exported to Japan, other Asian
countries, the Middle East, North America, etc.
Business is normal.
The individual secretary of the subject Bayani Divino Bautista Ponce is
also the individual secretary of many Indian firms in Hong Kong.
The subject’s total amount outstanding registered with the Companies
Registry as at mid November 2013 amounted to approximately HK$1.10 million
(2012: HK$1.15 million).
The subject’s business is chiefly handled by Mr. Sapan Kirit Mehta
himself. He can be reached at his Hong
Kong mobile phone number 852-6043 1315.
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. Its
booth No. is AWE 1-A41.
The subject owns premises in Hong Kong which have been mortgaged to The
Hongkong & Shanghai Banking Corp. Ltd. for securing general banking
facilities.
The subject’s history in Hong Kong is over seven years.
On the whole, consider it good for normal business engagements.
Property information of the company:-
Property Location: Office
Unit 09 on 16/F. (including Exclusive Lavatory),
Multifield Plaza, 3 Prat Avenue, Kowloon, Hong Kong.
Owner: S.S.
Diam (H.K.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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04-12-2008 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.95 |
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1 |
Rs.99.32 |
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Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.