MIRA INFORM REPORT
|
Report No. : |
336427 |
|
Report Date : |
17.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FOREVER LUCKY DIAMOND LIMITED |
|
|
|
|
Registered Office : |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham
Rd. South, Tsim Sha Tsui, Kowloon, Hong Kong |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
08.11.2007 |
|
|
|
|
Com. Reg. No.: |
38613788 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
TRADING OF DIAMONDS |
|
|
|
|
No. of Employees : |
About 5 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact
Points
|
Company Name (in English): |
Forever Lucky Diamond Limited |
|
Supplied Name: |
FOREVER LUCKY DIAMOND LTD |
|
Trading Address: |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha Tsui,
Kowloon, Hong Kong |
|
Supplied Address: |
603,ORIENTAL CENTER,67-71,CHATHAM ROAD SOUTH,TSIM SHA TSUI,KOWLOON ,
HONG KONG |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm. 603, 6F,
Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha Tsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-3116-0455/6622-7151 |
|
Fax Number: |
+852-3116-4405 |
|
Date of Registration: |
2007-11-8 |
|
Registered Number: |
1183312 |
|
Business Registration No.: |
38613788 |
|
Paid-up Capital: |
HKD 10,000,000 (USD 1,290,000) = 10,000,000
Shares @ HKD 1 (As of 2015.08, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise
worked, but not mounted or set (cm) |
|
Principal Activities: |
Trading of Diamonds |
|
Staff: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-8 |
History
Subject was incorporated on 2007-11-8 with the
registered number 1183312 as Private Limited Liability Company in Hong Kong.
Transfer of Shares:
|
2014-1-28 |
||
|
Transferred From |
No. of Shares Transferred |
Transferred To |
|
Magiya Hema Jatin |
5,000,000 |
Magiya Jatin Champaklal |
Corporate
Structure
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Magiya Jatin Champaklal |
10,000,000 |
100% |
|
Total |
10,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Magiya Jatin Champaklal |
|
Address: |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd.
South, Tsim Sha Tsui, Kowloon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Magiya Jatin Champaklal |
|
Address: |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd.
South, Tsim Sha Tsui, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P237276(6) |
|
2 |
|
|
Name: |
Cbest Solutions Limited |
|
Address: |
Suite 705, 7F, Empress Plaza, 17-19 Chatham
Rd. South, Tsim SHa Tsui, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1295959 |
Personnel Structure
|
Total Employees |
Operation
Information
Offices & Factories
|
|
Office |
|
Address: |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd.
South, Tsim Sha Tsui, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Rm. 603, 6F, Oriental Centre, 67-71 Chatham
Rd. South, Tsim Sha Tsui, Kowloon, Hong Kong |
|
Owners: |
Forever Lucky Diamond Limited |
|
Memorial Number: |
12103101650212 |
|
Date of Instrument: |
2012-10-8 |
|
Date of Registration: |
2012-10-31 |
|
Consideration Value: |
HKD 8,000,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
14041602060130 |
|
Date of Instrument: |
2014-4-11 |
|
Date of Registration: |
2014-4-16 |
|
Nature: |
Mortgage |
|
In Favor of: |
Dbs Bank (Hong Kong) Limited |
|
Consideration: |
All Moneys |
|
2 |
|
|
Memorial No.: |
12071101580159 |
|
Date of Instrument: |
2012-7-9 |
|
Date of Registration: |
2012-7-11 |
|
Nature: |
Agreement for sale and purchase |
|
In Favor of: |
Forever Lucky Diamond Limited |
|
Consideration: |
HKD 8,000,000.00 |
|
3 |
|
|
Memorial No.: |
UB9034526 |
|
Date of Instrument: |
2003-10-27 |
|
Date of Registration: |
2003-10-29 |
|
Nature: |
Agreement for sale and purchase Remarks: See assignment m/n 9058775 |
|
In Favor of: |
Daswani, Pirkash Daswani, Rekha Pirkash |
|
Consideration: |
HKD 1,560,000.00 |
Production
Information
· Subject is engaged in trading of diamonds, etc. without any production activities.
Purchase
Information
· The major products sold by the subject are both purchased from the Mainland of China and India, etc.
Sales Information
· Subject is engaged in sales of diamonds, etc.
· The major products sold by subject include loose diamonds, color diamonds, polished diamonds, jewelry-diamond, fine jewelry findings & setting, watches, display unit and accessories, etc.
· Subject sells diamonds from 0.01cts to 5.00cts and the major shapes include round brilliant cut and fancy shapes, etc.
· It is introduced that subject also has GIA diamonds.
· Subject’s sales regions include Asia, Africa, Europe and America, etc.
· The major customers of the subject are manufacturers of jewelry and watches, and jewelry shops, etc.
Settlements
Purchase
Domestic Purchase
|
Products |
Diamonds, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Diamonds, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Diamonds, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Diamonds, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to the
relevant policy in Hong Kong and the only source from which we can obtain the
information is the subject itself.
Subject’s relevant staff rejected to disclose
the financial information; from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
Company Name: |
Forever Lucky Diamond Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2010-6-15 |
|
Date of Discharge of the Charge: |
2015-6-24 |
|
Amount Secured: |
To secure “all monies” in respect of general
banking facilities and interest thereon. |
|
Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited |
|
Address of Mortgagee: |
No.1 Queen’s Road, Central, Hong Kong |
|
Description of Property Mortgaged: |
All those 2 equal undivided 51st parts or shares
of and in all that piece or parcel of ground registered in the Land Registry
as Kowloon Inland Lot No.8435 And of and in the messuages erections and
buildings thereon now known at the date hereof as “No.27a Cameron Road”
together with the sole and exclusive right and privilege to hold use occupy
and enjoy all that Tenth Floor of the said No.27A Cameron Road. |
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name |
Mr. Cris |
|
Department: |
Sales Department |
|
Email: |
Industry
Information
66729--Diamonds,
non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
113,655 |
854,839 |
1,452,417 |
10,085,815 |
|
Brazil |
33 |
1,437 |
174 |
5,836 |
|
Australia |
2,033 |
41,188 |
10,332 |
181,710 |
|
Belgium |
81,093 |
1,198,674 |
1,070,230 |
181,710 |
|
Germany |
154 |
614 |
18,279 |
80,845 |
|
Canada |
202 |
1,578 |
7,643 |
104,109 |
|
Switzerland |
5,866 |
161,374 |
56,112 |
1,665,846 |
|
Japan |
36,378 |
286,671 |
497,269 |
3,174,371 |
|
Thailand |
65,194 |
243,239 |
657,318 |
3,002,179 |
|
India |
765,990 |
3,982,962 |
12,544,931 |
64,883,740 |
|
The Mainland of China |
117,833 |
912,624 |
1,337,780 |
10,148,553 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
54 |
4,421 |
|
Israel |
61 |
10,875 |
153 |
38,772 |
|
-- |
-- |
3 |
116 |
|
|
Thailand |
-- |
-- |
422 |
1,865 |
|
USA |
140 |
2,916 |
2,982 |
55,371 |
|
Belgium |
2 |
74 |
463 |
70,594 |
|
Singapore |
-- |
-- |
28 |
4,990 |
|
The Mainland of China |
186 |
496 |
4,894 |
15,396 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha
Tsui, Kowloon, Hong Kong
Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha Tsui, Kowloon, Hong
Kong
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha Tsui,
Kowloon, Hong Kong
Rm. 603, 6F, Oriental Centre, 67-71 Chatham Rd. South, Tsim Sha Tsui,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.