MIRA INFORM REPORT

 

 

Report No. :

356847

Report Date :

30.12.2015

 

IDENTIFICATION DETAILS

 

Name :

UNIJEWELS (HK) LIMITED

 

 

Registered Office :

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

23.12.2011

 

 

Com. Reg. No.:

1693511

 

 

Legal Form :

Private Limited Liability Company

 

 

LINE OF BUSINESS :

SUBJECT IS ENGAGED IN TRADING OF DIAMONDS

 

 

No. of Employee :

Not Available

 

 

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)

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

 

Contact Points

 

Company Name:

Unijewels (HK) Limited

Supplied Name:

UNIJEWELS (HK) LTD

Supplied Address:

4TH FLOOR, KIM HING MANSION, 51 KIMBERY ROAD, S T Kowloon

Note: The exact name is as above.

 

 

Company Identification Details

 

Registered Name:

UNIJEWELS (HK) LIMITED

Registered Address:

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

Telephone Number:

+852-6445-2270

Date of Registration:

2011-12-23

Registered Number:

1693511

Business Registration No.:

59288403

Paid-up Capital:

HKD 100,000 (USD 12,900) = 100,000 Shares @ HKD 1

(As of 2015.12, 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:

N/A

Listed at Stock Exchange:

No

Date of Last Annual Return:

2015-12-23

Note: Subject declined to disclose its staff number, and from other source we can’t obtain the information, either.

History

 

Subject was incorporated on 2011-12-23 with the registered number 1693511 as Private Limited Liability Company in Hong Kong.

 

Change of Registered Address:

Current Address

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

Former Address

Flat H, 4th Floor, Kim Hing Mansion, 49-51 Kimberly Road, Tsimshatsui, Kowloon, Hong Kong

 

 

Corporate Structure

 

Subject did not introduce any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Shareholders

 

Name

Subscription Shares

Proportion of Investment (%)

Vishalkumar Shrenikkumar Mehta

100,000

100%

Total

100,000

100%

 

Major Shareholder Information:

Name:

Vishalkumar Shrenikkumar Mehta

Address:

Flat H, 4/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsim Sha Tsui, Kowloon, Hong Kong

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

1

Name:

Vishalkumar Shrenikkumar Mehta

Address:

Flat H, 4/F., Kim Hing Mansion, 49-51 Kimberley Road, Tsim Sha Tsui, Kowloon, Hong Kong

Position:

Director & Secretary

ID Number:

M201475(6)

2

Name:

CK Registrations Limited

Address:

Room 902, 9/F., Bank Centre, 636 Nathan Rd., Kowloon, HK

Position:

Company Secretary

ID Number:

803965

 

Former Director

Name:

Pranavkumar Arvindbhai Shah

Address:

Krishna Flat Co. OP. Housing Society, Flat No. 207, Dargah Road, Navsari, Gujarat 396445 India

Position:

Director

Passport Number:

F1725608

Issuing Country:

India

 

 

Operation Information

 

Offices & Factories

 

We cannot confirm subject’s current trading address at this stage.

 

Production Information

 

l  Subject is a trader of diamonds, etc. without any production activities.

 

Purchase Information

 

l  It is introduced that subject imports its products mainly from India.

 

Sales Information

 

l  Subject is engaged in sale of diamonds, etc.

l  The major products of the subject are certified round brilliant diamonds, non certified diamonds and loose diamonds.

It is introduced that subject’s some products has obtained the authentication of GIA.

l  Subject’s sales regions include domestic market, Japan, Korea, Southeast Asia, North America, Europe, Australia, etc.

l  It is introduced that subject’s major customers are manufacturers and designers of watch, jewelry, and diamonds dealers, etc.

 

 

Settlements

 

Purchase

 

1.     Domestic Purchase

 

Subject has little domestic purchase.

 

2.     Import

Products

Diamonds, etc.

Payment Terms

L/C, T/T, etc.

 

Sales

 

1.     Domestic Markets

Product

Diamonds, etc.

Selling Terms

T/T, Cash, etc.

 

2.     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; and the supplied relevant bank information (SWIFT: HSBC BANK BANK A/C 817-515182-838) cannot be confirmed with the subject; from other source we could not obtain the relevant information, either.

Public

 

Mortgage Record

 

No mortgage record of subject was found.

 

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

Interview Date:

2015-12-29

Name

Mr. Vishalkumar

Department:

Sales Department

 

 

Industry Information

 

66729--Diamonds, non-industrial, otherwise worked, but not mounted or set (cm)

Unit: HKD/000

 

2015.06

2015.01~2015.06

 

Quantity

Value

Quantity

Value

Imports

United Arab Emirates

99,460

905,159

647,153

5,464,977

Switzerland

6,409

199,072

48,333

1,399,228

Israel

53,917

1,623,498

304,676

9,093,356

USA

282,887

1,883,967

993,454

6,852,878

Belgium

110,151

1,638,056

561,647

8,625,638

Thailand

99,160

492,720

388,041

1,822,712

Japan

56,719

371,240

236,575

1,664,163

Italy

3,244

20,309

13,350

96,012

India

955,874

5,467,092

5,645,538

30,408,178

The Mainland of China

105,388

880,886

559,342

4,632,952

Exports

United Arab Emirates

88,055

792,393

637,402

5,288,342

India

263,998

1,825,623

1,829,493

10,136,195

America

110,964

1,103,321

708,067

6,949,687

Japan

20,684

146,991

139,735

1,039,637

Thailand

93,610

421,965

493,269

1,816,612

Belgium

107,387

1,236,704

577,229

6,950,409

The Mainland of China

256,037

1,335,949

1,563,439

8,246,408

 

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

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

2015.01

348,886

4,468

307,403

311,871

+2.8

-37,015

2015.02

264,220

2,919

225,418

228,337

+7.2

-35,884

2015.03

342,319

4,013

292,100

296,113

-1.8

-46,206

2015.04

331,108

4,202

287,742

291,944

+2.2

-39,164

2015.05

331,940

4,258

287,571

291,830

-4.6

-40,110

2015.06

345,302

4,158

295,361

299,518

-3.1

-45,783

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

 

Attachment

 

Address: 7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

 

We contacted the subject through the supplied telephone number +852-6445-2270, Mr. Vishalkumar answered it and introduced that its operation information as we stated in the report. He introduced that the supplied address belongs to its former address, and introduced current address is as above. We visited the above address, but did not find the subject name on it. The following photos are for references:

 

Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_1

Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_2

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_5

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_6

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_7

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_3

7/F Workingport Commercial Building, NO. 3, Hau Fook Street, Tsimshatsui Kowloon, Hong Kong

IMG_4

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.37

UK Pound

1

Rs.98.91

Euro

1

Rs.72.85

HKD

1

Rs. 8.57

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

ASH

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.