|
Report No. : |
335492 |
|
Report Date : |
17.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRIPLE X DIAMONDS |
|
|
|
|
Registered Office : |
Flat 808, 8/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
11.06.2010 |
|
|
|
|
Com. Reg. No.: |
52420705-000-06 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
LINE OF BUSINESS : |
THE
SUBJECT WAS A LOOSE DIAMOND IMPORTER, EXPORTER AND WHOLESALER. IT WAS THE SUPPLIER, IMPORTER AND EXPORTER
OF A VERSATILE RANGE OF DIAMONDS IN A WIDE VARIETY LIKE ROSE CUT DIAMONDS,
ROSE CUT HEART, ROSE CUT ROUND, ROSE CUT PEARS, ROSE CUT OVAL, ROSE CUT
MARQUISE, FANCY CUT AND FANCY COLOUR DIAMONDS, BRIOLLETS BEADS, OLD MINE CUT
DIAMONDS, ROUND BRILLIANT CUT DIAMONDS, MARQUISE, PEARS, OVAL, HEART,
EMERALD. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Business Ceased |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 12.5% 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 |
TRIPLE X DIAMONDS
Head Office:-
Flat 808, 8/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong.
Associated
Companies:-
R.D. Gem Ltd.
Room 404, 4/F., Block B, Fu Hang Industrial Building, 1 Hok Yuen Street
East, Hunghom, Kowloon, Hong Kong.
Pansun Diamonds, Hong Kong. (Same
owners)
Pansuriya Impex (HK) Ltd., Hong Kong.
Rio Star, Hong Kong.
Zenia, Hong Kong.
Zenias Ltd., Hong Kong.
52420705-000-06
Partnership.
Manager: Mr. Pankajkumar Punabha
Rangani
(Hong Kong Mobile: 852-9793 1000)
Name: Mr. Pankajkumar Punabha
RANGANI
Residential Address: Flat 4A,
4/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Mitul Harendrakumar MAISURIA
Residential Address: Fl. No. A,
302 Capital Complex, Nr. Gangajamna Raw House, Ranmder Road, Surat GS, India.
The subject was established on 11th June, 2010 as a sole proprietorship
concern owned by Mr. Pankajkumar Punabha Rangani under the Hong Kong Business
Registration Regulations. It became a
partnership as Mr. Mitul Harendrakumar Maisuria [M H Maisuria] joined in as a
partner on 11th September, 2010.
Originally, the subject was located at Flat 4A, 4/F., Prat Mansion, 26-36
Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 4, 11/F., Block B,
Part Mansion, 26-36 Part Aveune, Tsimshatsui, Kowloon, Hong Kong on 22nd
February, 2012 and further moved to present address in July 2012.
The subject ceased business formally on 15th June, 2015 and the two
partners retired on the same date.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Please be advised that Triple X Diamonds had ceased business since 15th
June, 2015.
The subject was a partnership jointly owned by Mr. Pankajumar Punabha
Rangani and Mr. Mitul Harendrakumar Maisuria, both of whom were Indian. The former was a Hong Kong ID Card holder and
had got the right to reside in Hong Kong permanently. The latter joined in the subject on
11th September, 2010 was an India passport holder. The latter resided in Surat, India.
The subject’s old registered and operating address was in the residence
of Rangani which was located at Flat 4A, 4/F., Prat Mansion, 26-36 Prat Avenue,
Tsimshatsui, Kowloon, Hong Kong. The
residential building was not trespassed by outsiders. The subject moved to ‘Flat 808, 8/F., Miramar
Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong’ in July 2012.
The subject’s telephone number and fax number had not registered with
local telephone company nor listed on telephone directories. However, Rangani was reached at his mobile
phone number 852-9793 1000 (old mobile phone number was 6767 6220).
The subject was a loose diamond importer, exporter and wholesaler. It was the supplier, importer and exporter of
a versatile range of diamonds in a wide variety like rose cut diamonds, rose
cut heart, rose cut round, rose cut pears, rose cut oval, rose cut marquise,
fancy cut and fancy colour diamonds, briollets beads, old mine cut diamonds,
round brilliant cut diamonds, marquise, pears, oval, heart, emerald.
The business of the subject was chiefly handled by Pankajumar Punabha
Rangani. History in Hong Kong was just
about five years.
The subject ceased business formally on 15th June, 2015 and the two
partners retired on the same date.
Since the subject in Hong Kong has ceased business, on the whole,
consider it not suitable for any business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.12 |
|
|
1 |
Rs.101.62 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.