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Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BLUE DIAM COMPANY |
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Registered Office : |
Unit 7, 15/F., |
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Country : |
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Date of Incorporation : |
16.08.1994 |
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Com. Reg. No.: |
16085448-001-07 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamond and Jewellery
Products. |
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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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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 |
BLUE DIAM COMPANY
ADDRESS: Unit 7,
15/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2369
3197, 2366 0727
FAX: 852-2369
3221
E-MAIL: bluediam@netvigator.com
bluediam.hk@gmail.com
Manager: Mr. Nareshkumar Maneklal
Shah
Establishment: 16th August, 1994.
Organization: Sole Ownership.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Annual Sales Turnover: US$10-15
million.
Employees: 5.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BLUE DIAM COMPANY
Head Office:-
Unit 7, 15/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong.
Mailing Address:-
P.O. Box 96526, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
16085448-001-07
Manager: Mr. Nareshkumar Maneklal
Shah
Contact Person: Ms. Woo
SOLE OWNER: Blue Diam Co. Ltd.,
Hong Kong. (See attachment)
The subject was established on 16th August, 1994 as a sole ownership
firm with Blue Diam Co. Ltd., as the proprietor under the Hong Kong Business Registration
Regulations.
At the very beginning, the subject was located at Flat 2, 13/F., Star
Mansion, 3 Minden Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat G, 3/F.,
Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in August 1995;
to Room 701, 7/F., New Landwide Commercial Building, 73 Kimberley Road,
Tsimshatsui, Kowloon, Hong Kong in August 1996; to Flat E, 6/F., Cameron Plaza,
23-25 Cameron Road, Tsimshatsui, Kowloon, Hong Kong in July 1999; to Flat E2,
6/F., Kaiser Estate, Phase 1, 41 Man Yue Street, Hunghom, Kowloon, Hong Kong in
July 2007, and further moved to the present address 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
diamond and jewellery products.
Employees: 5.
Commodities Imported: India,
other Asian countries, Belgium, other European countries
Markets: Japan, other
Asian countries, the Middle East, Central and South America
Annual Sales Turnover: US$10-15
million.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P
Capital: Not disclosed.
Profit or Loss: Making a small
profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of
general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Antwerpse Diamantbank NV, Belgium.
Standing: Normal.
Blue Diam Company is wholly-owned and operated by Blue Diam Co. Ltd.
Ltd. [BDCL] which is a Hong Kong-registered firm located at the operating
address of the subject.
Originally BDCL was registered under the name of Worldata Investment
Ltd., name changed to the present style on 17th January, 2013.
The subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose
diamonds, loose diamond collection, and round diamonds like marquise, pears, tappers,
buggets and rose cut diamonds. Other
products include diamond gold jewellery and diamond platinum jewellery. However, the subject is famous for its loose
diamonds.
The subject’s
diamonds carried bear the following specifications:-
Clarity — VVS2, VS1, SI1;
Colour — F, G, H; &
Size — 1 ct.~0.5 ct, 0.5 ct~0.2 ct.
Rough, cut or polished diamonds are imported from India, other Asian
countries, Belgium or other European countries.
Products are exported to Japan, other Asian countries, the Middle East,
Central and South America, etc. Overall
business is satisfactory. Regular
suppliers and customers have been maintained.
BDCL was incorporated on 2nd July, 1991 and jointly owned by
Mr. Nareshkumar Maneklal Shah, holding 59.9% interests, and Mr. Naitik
Mukesh Shah, holding 40.1%. Directors
are Naitik Mukesh Shah and Rashi Naitik Shah.
Both are Hong Kong ID holders and have got the right to reside in Hong
Kong permanently.
BDCL is owned by the Shah family and has had close business ties with
those jewellery traders in the United Arab Emirates.
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 4th to 8th March, 2015.
The annual sales turnover of the subject ranges from US$10 to 15 million. Making a small profit every year.
The subject is fully supported by BDCL.
The contact person is Ms. Woo who is a Hongkongnese.
As the history of BDCL in Hong Kong is over 20 years, on the whole,
consider it good for normal business engagements.
BLUE DIAM CO.
LTD.
(Trading as BLUE DIAM COMPANY)
Unit 7, 15/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong.
16085448-000-07
0316294
2nd July, 1991.
Nominal Share Capital: HK$32,550,000.00 (Divided into 32,550,000 shares
of HK$1.00 each)
Issued Share Capital: HK$32,535,136.00
(As per registry dated 02-07-2014)
|
Name |
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No. of shares |
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Nareshkumar Maneklal SHAH |
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19,500,009 |
|
Naitik Mukesh SHAH |
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13,035,127 |
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––––––––– |
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Total: |
32,535,136 ======== |
(As per registry dated 02-07-2014)
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Name (Nationality) |
Address |
|
Naitik Mukesh SHAH |
Flat C, 1/F., Block 5, Royal Peninsula, 8 Hung Lai Road, Hunghom,
Kowloon, Hong Kong. |
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Rashi Naitik SHAH |
Flat C, 1/F., Block 5, Royal Peninsula, 8 Hung Lai Road, Hunghom,
Kowloon, Hong Kong. |
(As per registry dated 02-07-2014)
|
Name |
Address |
Co. No. |
|
Kingspeed Consultants Ltd. |
10/F., Pilkem Commercial Centre, 8 Pilkem Street, Jordan, Kowloon,
Hong Kong. |
0229410 |
It was originally registered under the name of Worldata Investment Ltd.,
name changed to Blue Diam Co. Ltd. on 17th January, 2013.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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|
1 |
Rs.99.43 |
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Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
-- |
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.