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Report No. : |
316394 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BRILLIANT TOP LTD. |
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Registered Office : |
9/F., Tung Yiu Commercial Building, 31A Wyndham Street, Central |
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Country : |
Hong Kong
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Date of Incorporation : |
08.02.2006 |
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Com. Reg. No.: |
36517982 |
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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 : |
9 |
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 – 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 40.7 million
in 2013, 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 48.5% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
BRILLIANT TOP LTD.
ADDRESS: 9/F., Tung Yiu Commercial
Building, 31A Wyndham Street, Central, Hong Kong.
PHONE: 852-2522 6858
FAX: 852-2466 9338
MANAGEMENT:
Managing Director: Mr. Adi Spatz
Incorporated on: 8th February, 2006.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 9.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BRILLIANT TOP
LTD.
Registered Head
Office:-
9/F., Tung Yiu Commercial Building, 31A Wyndham Street, Central, Hong
Kong.
Associated
Companies:-
Fancy Collection BVBA, Belgium.
Fancy Collection Far East Ltd., Hong Kong. (Same address)
Fancy Collection Ltd., Israel.
36517982
1023398
Managing Director: Mr. Adi Spatz
HK$10,000.00
(As per registry dated 08-02-2015)
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Name |
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No. of shares |
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Avinoam NATHANEL |
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10,000 ===== |
(As per registry dated 08-02-2015)
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Name (Nationality) |
Address |
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Adi SPATZ |
2/F., 4 Li Yuen Street East, Central, Hong Kong. |
(As per registry dated 08-02-2015)
|
Name |
Address |
Co. No. |
|
CBS Pacific Ltd. |
Flat A, 8/F., Kam Chung Commercial Building, 19‑21 Hennessy
Road, Wanchai, Hong Kong. |
0582043 |
The subject was incorporated on 8th February, 2006 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: 9.
Commodities Imported: India,
Israel, Belgium.
Markets: Asian
countries, Europe, North America, Middle East.
Terms/Sales: As
per contracted.
Terms/Buying: L/C, T/T, D/P, O/A.
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small
profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making active use of
general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Having issued 10,000 ordinary shares of HK$1.00 each, Brilliant Top Ltd.
is wholly owned by Mr. Avinoam Nathanel who is an Israeli. He is a Hong Kong ID Card holder and has
got the right to reside in Hong Kong permanently. The only director of the subject Adi Spatz is
an Israeli.
The subject is a diamond trader.
It has had an associated company Fancy Collection Far East Ltd. [Fancy
Collection], a Hong Kong-registered firm located at the same address.
Avinoam Nathanel is also the President of Fancy Collection.
Fancy Collection is set up by the Nathanel diamond family in Tel Aviv,
Israel. Mr. Nathanel, a jewelry
manufacturer as well as developer of brands of unique diamond jewelry, offers
inventive and exciting diamond cuts in forms of pairs, lines and layouts in all
fancy shapes; sizes of the fancy cut diamonds range from 0.70 ct - 5.00 ct.
Fancy Collection is a vertically integrated diamond and jewelry company
that continues to satisfy increased consumer demand for quality cut
diamonds. By sourcing rough diamonds and
controlling its own manufacturing facilities, the company is always ready and
able to supply high-end customers with consistent assortments of fancy
diamonds.
Fancy Collection serves international jewelers and customers across the
globe in Europe, Asia, North America and the Gulf States with the best
selection of fancy shaped diamonds. By
leaning on existing stock and excellent industry relations, the company
reliably delivers large quantities of high-quality stones upon request. Nathanel and his team are able to satisfy the
demand of its customers worldwide.
The subject also has had another associated company Fancy Collection
BVBA, a Belgium-based firm. Adi Spatz is
also the contact person of this firm.
This company is famous for its carat size diamonds and marquise-cut
diamonds.
In order to penetrate the international market further, Fancy Collection
BVBA has taken part in fairs and exhibitions held in Hong Kong and the other
foreign large cities.
The subject is able to make a small profit every year. Business is rather active.
As the history of the subject is over nine years and two months in
Hong Kong, on the whole, consider it good for normal business engagements.
DIAMOND INDUSTRY – INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
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Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.39 |
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|
1 |
Rs.91.05 |
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Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.