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Report No. : |
316469 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ADAMAS DIAMONDS FAR EAST LTD. |
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Registered Office : |
Unit 1511, 15/F., The Galleria, 9 Queen’s Road, Central |
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Country : |
Hong Kong
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Date of Incorporation : |
29.01.2010 |
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Com. Reg. No.: |
51760273 |
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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 : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ADAMAS DIAMONDS FAR EAST LTD.
ADDRESS: Unit
1511, 15/F., The Galleria, 9 Queen’s Road, Central, Hong Kong.
PHONE: 852-2613
8816
FAX: 852-2613
8810
E-MAIL: info@admasfareast.com
MANAGEMENT:
Managing Director: Mr. Nareg
Arslanian
Incorporated on: 29th January, 2010.
Organization: Private Limited Company.
Issued Share Capital: HK$1.00
Business Category: Diamond Trader.
Employees: 5.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADAMAS DIAMONDS FAR EAST LTD.
Registered Head
Office:-
Unit 1511, 15/F., The Galleria, 9 Queen’s Road, Central, Hong Kong.
Associated
Company:-
Arslanian & Wright Inc., British Virgin Islands.
51760273
1417110
Managing Director: Mr. Nareg Arslanian
Contact Person: Ms. Josephine
Kwok
HK$1.00
(As per registry dated 29-01-2015)
|
Name |
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No. of share |
|
Nareg ARSLANIAN |
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1 = |
(As per registry dated 29-01-2015)
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Name (Nationality) |
Address |
|
Nareg ARSLANIAN |
Flat F, 5/F., Kam Yuen, 3 Old Peak Road, Hong Kong. |
(As per registry dated 29-01-2015)
|
Name |
Address |
Co. No. |
|
Regal Plus International Co. Ltd. |
Room A, 8/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai, Hong Kong. |
0896712 |
The subject was incorporated on 29th January, 2010 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: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds.
Employees: 5.
Commodities Imported: India,
Belgium, other European countries.
Markets: Hong
Kong, India, other Asian countries, North America, Western Europe.
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C, T/T, O/A.
Issued Share Capital: HK$1.00
Profit or Loss: Made small
profits in 2013 and 2014.
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 Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued just one ordinary share of HK$1.00, Adamas Diamonds Far
East Ltd. is wholly owned by Mr. Nareg Arslanian.
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 is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India, Europe, other Asian countries, etc. Prime markets are Hong Kong, China,
India, and the other Asian countries.
Business is normal.
The subject has had an associated company Arslanian & Wright Inc.
[A&W] which is registered in the British Virgin Islands. The Hong Kong office of A&W is also in
the office of the subject.
A&W is trading in carats size white and fancy coloured diamonds.
In order to penetrate the international market further, A&W 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 2016”
which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the
period of 2nd to 6th March, 2016. Its
booth No. is AWE 2-S06.
The contact person of the subject and A&W is Ms. Josephine Kwok who
is a Hongkongese.
The business of the subject is chiefly handled by Mr. Nareg
Arslanian. History in Hong Kong is over
five years and two months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.05 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.