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Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
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Name : |
RAPAPORT HONG KONG
LTD. |
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Formerly Known As : |
RAPAPORT INTERNATIONAL LTD. |
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Registered Office : |
Unit 2206,
22/F., Kinwick Centre, |
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Country : |
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Date of Incorporation : |
05.12.2001 |
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Com. Reg. No.: |
32242753 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
DIAMOND & JEWELLERY TRADER. |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
RAPAPORT HONG
KONG LTD.
ADDRESS: Unit 2206, 22/F., Kinwick Centre,
32 Hollywood Road, Central, Hong Kong.
PHONE: 852-2805 2620
FAX: 852-2805 2605
E-MAIL: ofira@diamonds.net
Managing
Director: Ms. Ofira Gutman-Berrebi
Incorporated
on: 5th
December, 2001.
Organization: Private
Limited Company.
Paid Up Capital: HK$100.00
Business Category: Diamond & Jewellery Trader.
Employees: 8.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Good.
RAPAPORT HONG
KONG LTD.
Registered
Head Office:-
Unit 2206, 22/F., Kinwick
Centre, 32 Hollywood Road, Central, Hong Kong.
Associated
Companies:-
Rapaport Belgium
BVBA, Belgium.
Rapaport Diamond
(Shanghai) Ltd., China.
Rapaport Diamond
Corp., USA.
Rapaport Diamond
Services India Pvt. Ltd., India.
Rapaport Diamonds Israel
Ltd., Israel.
Rapaport Dubai
DMCC, UAE.
Rapaport India
Pvt. Ltd., India.
Rapaport Ltd.,
Hong Kong.
Rapaport USA Ltd.,
USA.
32242753
0778279
Managing
Director: Ms. Ofira Gutman-Berrebi
HK$100.00
(As per registry dated 05-12-2013)
|
Name |
|
No.
of shares |
|
Mordechai RAPAPORT |
|
100 === |
(As
per registry dated 24-06-2014)
|
Name (Nationality) |
Address |
|
Gilat ELIZOV |
Apartment 9B, Dynasty Court, Tower 2, 23
Old Peak Road, Mid-Levels, Hong Kong. |
|
Chaya B Rivka
RAPAPORT |
5255 Collins Avenue, Miami Beach, Florida
33140, USA. |
|
Gastao Fausto
D’AQUINO |
Apartment 4A, 94 Pokfulam Road, Hong Kong. |
|
Ofira
GUTMAN-BERREBI |
20B/F, Po Garden, 9 Brewin Path,
Mid-Level, Hong Kong. |
|
Martin Michael
RAPAPORT |
5255 Collins Avenue, Miami Beach, Florida
33140, USA. |
Gastao Fausto
D’AQUINO (As per registry dated 05-12-2013)
The subject was incorporated on 5th December, 2001 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Rapaport
International Ltd., name changed to the present style on 17th September, 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond & Jewellery Trader.
Lines: All kinds of diamonds and
jewellery
Trade Marks: “RAPAPORT”
and “RAPNET” brands.
Employees: 8.
Commodities
Imported: India, Israel, other European
countries, etc.
Markets: Hong Kong, China, other Asian
countries, etc.
Terms/Sales: L/C,
Advanced T/T, etc.
Terms/Buying: L/C,
T/T, etc.
Hong Kong Jewelry
Manufacturers’ Association,
Hong Kong.
Paid Up
Capital: HK$100.00
Profit or Loss: Making a small profit every year.
Condition: Keeping
in a satisfactory manner.
Facilities: Making
rather active use of general banking facilities.
Payment: Met
trade commitments as required.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 100 ordinary shares of HK$1.00 each, Rapaport Hong Kong Ltd.
is wholly owned by Mordechai Rapaport whose registered address is in Nevada,
the United States.
The subject is one of the key members of the Rapaport Group which is
trading in diamonds and jewellery products.
The Rapaport Group is an international network of companies providing
added-value services that support the development of the diamond and jewellery
markets. Established in 1976, the Group
has over thirteen thousand clients in 95 countries.
The Group activities include publishing, electronic information services
and trading networks, diamond grading and certification, global trading and
auction services, consolidated international shipping, international sourcing,
quality-control and compliance services, financial, research and marketing
services.
A primary and unifying focus of the Group are knowledge based
information services that create transparent and efficient markets. Examples
are the Rapaport Price List and Rapaport Diamond Report magazine, the RapNet–
Rapaport Diamond Trading Network, GIA LabDirect® diamond grading and
certifications services, Rapaport Auctions, and the Rapaport Fair Trade
Jewellery initiative.
The publishing division is best known for its Rapaport Price List.
Established in 1978, the Report is the industry’s primary source for diamond
price and market information.
Rapaport Auctions provide a good opportunity for the diamond trade to
buy and sell diamonds at cash prices.
The large quantities and wide variety of merchandise offered attract
competitive bids from a broad range of local and international buyers. Rapaport Auctions is committed to addressing
the needs of the international diamond community for enhanced liquidity while
presenting unprecedented buying opportunities.
Now, the Rapaport Group provides diamond grading and certification
services with GIA Lab Direct services in India, Israel and Belgium. The Group’s trading division operates rough
and polished diamond tenders and provides international clearing house services
providing guaranteed cash transactions, consolidated shipping and quality
control services. The Group employs 180
employees with ten offices in the United States, Belgium, Israel, India, Dubai,
Hong Kong and Shanghai.
The Chairman of the Group is Martin Rapaport. He began his career in the diamond industry
in 1975 as an apprentice diamond cleaver in Antwerp Belgium. In 1978, he established the Rapaport Diamond
Report, the primary source of diamond price and market information. In 1980, he created RapNet – The Rapaport
Network, the first and world’s largest electronic diamond trading network. RapNet currently provides daily diamond
listings of 930,000 diamonds worth over US$6.2 billion dollars. It has over 7,000 members of the diamond
trade in 80 countries.
The Group has penetrate the China market by setting up Rapaport Diamond
(Shanghai) Ltd. which is in Shanghai, China.
This company is a member of the Shanghai Diamond Exchange and provides
customers with diamonds trading services.
The business of the subject is chiefly handled by Ms. Ofira
Gutman-Berrebi who is currently residing in Hong Kong.
As the history of the subject is over twelve years and eight months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
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.