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Report No. : |
316341 |
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Report Date : |
08.04.2015 |
IDENTIFICATION DETAILS
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Name : |
JEEL DIAM LTD. |
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Registered Office : |
c/o CBS Pacific Ltd. Unit A, 8/F., Kam Chung Commercial Building, 19-21
Hennessy Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.01.2010 |
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Com. Reg. No.: |
51675185 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged as Trader of Diamonds |
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No. of Employees |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
JEEL DIAM LTD.
ADDRESS: Room 1503, 15/F., Rise Commercial Building, 5-11 Grannville Circuit, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-3114 7994
FAX: 852-3114 7995
E-MAIL: jeeldiamltd@hotmail.com
Managing Director: Mr. Rajeshkumar Naranbhai Bhadiyadra
Incorporated on: 13th January, 2010.
Organization: Private Limited Company.
Paid Up Capital: HK$15,000,000.00
Business Category: Diamond Trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation:
Registered Office:-
c/o CBS Pacific Ltd.
Unit A, 8/F., Kam Chung Commercial Building, 19-21 Hennessy Road, Wanchai, Hong Kong.
Head Office:-
Room 1503, 15/F., Rise Commercial Building, 5-11 Grannville Circuit, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Hind Gems B.V.B.A., Belgium.
Pankaj Diamond, India.
SRB Diam (H.K.), Hong Kong.
SRB Diam Inc., USA.
Sumit Diam (HK) Ltd.
Flat A, 7/F., Houng Sun Building, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.
51675185
1410843
Managing Director: Mr. Rajeshkumar Naranbhai Bhadiyadra
PAID UP CAPITAL: HK$15,000,000.00
(As per registry
dated 10-01-2014)
|
Name |
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No. of shares |
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Umesh Vallabhbhai BHADIYADRA |
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1,000,000 |
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Rajeshkumar Naranbhai BHADIYADRA |
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14,000,000 |
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––––––––– |
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Total: |
15,000,000 ======== |
(As per registry
dated 13-01-2014)
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Name (Nationality) |
Address |
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Rajeshkumar Naranbhai BHADIYADRA |
Flat A, 7/F., Houng Sun Building, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong. |
|
Umesh Vallabhbhai BHADIYADRA |
7 Mahaeshwar Soc., Near Baroda Pristage Varachha Road, Surat, India. |
(As per registry
dated 22-07-2014)
|
Name |
Address |
Co. No. |
|
Champion Corporate Ltd. |
Unit 907, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong. |
0657221 |
The subject was incorporated on 13th January, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject was formerly located at Room 515, 5/F., Tower A, New Mandarin Plaza, 14 Science Museum Road, Tsimshatsui East, Kowloon, Hong Kong. Moved to Unit A, 8/F., Kam Chung Commercial Building, 19‑21 Hennessy Road, Wanchai, Hong Kong in May 2012.
The subject moved to the present address in late 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Engaged as Trader of diamonds
Employees: 2.
Commodities Imported: India, other Asian countries,
Markets: Hong Kong, China, other Asian countries, Europe,
Terms/Sales: L/C, T/T,
Terms/Buying: L/C, T/T, D/P,
Paid Up Capital: HK$15,000,000.00
Date of Security Over Deposits with the Bank: 06-11-2012
Amount: To secure all monies in respect of banking facilities owing at any time plus interest and all expenses.
Property: Initially US$500,000 or equivalent and all monies whether now or hereafter standing to the credit of the Company’s deposit with the Bank under deposit number: 053-082996
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Kept a balance account in 2013.
Condition: Keeping in a normal 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: Small.
Jeel Diam Ltd. formerly was wholly-owned by Mr. Pankaj Himatbhai Bhadiyadra who was an Indian. On 8th March, 2010, P. H. Bhadiyadra transferred his share to Mr. Umesh Vallabhbhai Bhadiyadra. In early 2014, the subject issued 7 million ordinary shares which were allotted to Rajeshkumar Naranbhai Bhadiyadra. Now, the subject is 12.5% owned by Mr. U V Bhadiyadra and 87.5% owned by Mr. R N Bhadiyadra.
Belonging to the same family, the two Bhadiyadras are also directors of the subject. Being an India passport holder, Mr. U V Bhadiyadra does not have the right to reside in Hong Kong permanently. However, R N Bhadiyadra is a Hong Kong ID holder.
The subject commenced business in January 2010. It is a diamond trader. The subject has had an associated company SRB Diam (H.K.) which is also a diamond trader. SRB Diam (H.K.) is a member of SRB Diam Group [SRB Diam]. The subject is engaged in the same lines of business as SRB Diam, more or less.
SRB Diam has got its factory in India while its prime markets are China, Hong Kong, and the United States. Its products include bracelets, brooches, earrings, necklaces, rings & pendants. SRB Diam is one of the leading diamond manufacturing and marketing companies with sales offices in the United Sates and a plant in India. SRB Diam is the marketing arm of Pankaj Diamond which was established by Mr. R N Bhadiyadra. Pankaj Diamond is one of the top ten diamond exporters in the non-sightholder category in India.
The subject is operated by the Bhadiyadra family.
Currently, SRB Diam has had associated companies in Surat, India and Belgium, besides in the United States. SRB Diam is specialized in round brilliant diamonds, WS to I2, from 0.01 to 0.5 cts with ideal cut and white in colour.
The subject’s products are provided by SRB Diam in India. Products are marketed in Asia, Europe and the United States.
The subject is fully supported by SRB Diam and Pankaj Diamond in India.
The subject’s history in Hong Kong is over four years and seven months.
The subject has had an associated company known as Sumit Diam (HK) Ltd. [Sumit Diam] which is also a diamond trader. This company is located at: Flat A, 7/F., Houng Sun Building, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong
However, this is the residential address of R N Bhadiyadra and Mrs. Shital Bhadiyadra.
The contact person of Sumit Diam is Mrs. Shital Bhadiyadra who is a family member of Bhadiyadra.
On the whole, consider the subject good for business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.33 |
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|
1 |
Rs.92.83 |
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Euro |
1 |
Rs.68.08 |
INFORMATION DETAILS
|
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 |
-- |
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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.