MIRA INFORM REPORT
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Report No. : |
298646 |
|
Report Date : |
18.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
VANSHIKA JEWELLERY LIMITED |
|
|
|
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Registered Office : |
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon |
|
|
|
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Country : |
Hong Kong |
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|
|
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Date of Incorporation : |
19.06.2013 |
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|
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Com. Reg. No.: |
1925247 |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Trading of Diamonds and jewelry. |
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No. of Employee : |
Not Available NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
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 |
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|
|
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Payment Behaviour : |
Unknown |
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|
|
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 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 |
Contact
Points
|
Company Name: |
Vanshika Jewellery Limited |
|
Supplied Name: |
Vanshika Jewellery Limited |
|
Trading Address: |
Flat E, Floor 30,Tower 16, Laguna Verder,
Hung Hom, Kowloon, Hong Kong |
|
Supplied Address: |
30/E, Laguna Verde Tower 16 Hunghom Kowloon |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat E, Floor
30,Tower 16, Laguna Verder, Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-6171-4441 |
|
Date of Registration: |
2013-6-19 |
|
Registered Number: |
1925247 |
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Business Registration No.: |
61615224 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 1 (USD 0.129) = 1 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
89731--Articles of jewellery and parts thereof,
of precious metals or metals clad with precious metals (g) |
|
Principal Activities: |
Trading of diamonds, jewelry and etc |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 2013-6-19 with the
registered number 1925247 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Other Address in Hong Kong
|
Address: |
Rm1011, 10/F Peninsula Square West Wing, 18
Sung On street, Hunghom Kowloon Hong Kong |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Donda Vibha Krishna |
1 |
100% |
|
Total |
1 |
100% |
Major Shareholder Information:
|
Donda Vibha Krishna |
|
|
Address: |
Flat E, Floor 30,Tower 16, Laguna Verder, Hung Hom, Kowloon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Donda Vibha Krishna |
|
Address: |
Flat E, Floor 30,Tower 16, Laguna Verder,
Hung Hom, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
M105764(8) |
|
2 |
|
|
Name: |
Gurung & Shum Business Sulutions Limited
|
|
Address: |
Room 406B, 4th Floor, Mirror
Tower, 61 Mody Road, Tsim Shat Sui East, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1348317 |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Flat E, Floor 30,Tower 16, Laguna Verder,
Hung Hom, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Flat E On 30th Floor Of Tower 16 (Phase Iva) Laguna Grande Laguna Verde No.8 Laguna Verde Avenue Kowloon |
|
Owners: |
Donda Krishna Kalubhai
(Joint Tenant) Donda Vibha Krishna
(Joint Tenant) |
|
Memorial Number: |
13020801570035 Assignment |
|
Date of Instrument: |
2013-1-17 |
|
Date of Registration: |
2013-2-8 |
|
Consideration Value: |
History of Premises
Owners’
|
1 |
|
|
Memorial No.: |
14110701740064 |
|
Date of Instrument: |
2014-10-16 |
|
Date of Registration: |
2014-11-7 |
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Nature: |
Mortgage |
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In Favor of: |
Ctbc Bank Co., Ltd. |
|
Consideration: |
All Moneys |
|
2 |
|
|
Memorial No.: |
12112800240100 |
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Date of Instrument: |
2012-11-8 |
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Date of Registration: |
2012-11-28 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Donda Krishna Kalubhai (Joint Tenant) Donda Vibha Krishna (Joint Tenant) |
|
Consideration: |
HKD 12,000,000.00 |
|
3 |
|
|
Memorial No.: |
06071401590159 |
|
Date of Instrument: |
2006-6-26 |
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Date of Registration: |
2006-7-14 |
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Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Zhao, Liqiang |
|
Consideration: |
HKD 6,800,000.00 |
Production
Information
The subject is a trader of diamonds, jewelry
and etc without any production activities.
Purchase
Information
It is introduced that subject imports its
products mainly from India
Sales Information
The subject is mainly engaged in sales of
diamonds, jewelry.
Subject’s major products are diamond jewelry,
such as diamonds ring, diamonds earrings, diamonds necklaces, loose diamonds
Subject’s selling territory is mainly in Asia.
Subject’s major customers are manufacturers,
designers and distributors of jewelry, watch
Settlements
Purchase
Domestic Purchase
The subject has little purchases in domestic
market.
Import
|
Products |
Diamonds, jewelry |
|
Payment Terms |
T/T |
Sales
Domestic Markets
|
Product |
Diamonds, jewelry |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Diamonds, jewelry |
|
Selling Terms |
T/T |
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 Mr. Sam 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
Subject listed on Taiwan stock exchange on
2003-9-15.
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. Sam |
|
Department: |
Sales Department |
|
Mobile Number: |
+852-9622-9695 |
|
Description: |
We contacted with Mr. Sam and he introduced subject’s
operation information provided in the report. |
Industry
Information
89731--Articles of jewellery and parts thereof, of precious metals or metals
clad with precious metals (g)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
360,811 |
286,593 |
1,910,636 |
2,509,526 |
|
3,452 |
187 |
14,139 |
4,212 |
|
|
Australia |
28,455 |
20,576 |
193,679 |
76,769 |
|
Belgium |
5,306 |
2,991 |
18,285 |
12,571 |
|
The Mainland of China |
15,416,663 |
2,786,822 |
80,725,040 |
14,919,295 |
|
Exports |
||||
|
United Arab Emirates |
34,144 |
20,993 |
266,704 |
182,114 |
|
895 |
1,895 |
2,797 |
5,247 |
|
|
Australia |
15,794 |
11,843 |
141,972 |
57,892 |
|
Belgium |
1,028 |
1,273 |
19,070 |
8,044 |
|
The Mainland of China |
286,047 |
25,826 |
1,126,839 |
117,609 |
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 |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
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 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
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 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
We made an on-site visit to the supplied address, and confirmed that
subject is at this location. The relevant staff Mr. Donda introduced that subject has the other address in Hong Kong, and he
also told us the mobile number +852-9622-9695 of the salesman of
subject.
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon, Hong Kong
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon, Hong Kong
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon, Hong Kong
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon, Hong Kong
Flat E, Floor 30,Tower 16, Laguna Verder, Hung
Hom, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.99.98 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.