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Report No. : |
306258 |
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Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SAMMY DIAM LTD. |
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Registered Office : |
Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
27.06.2011 |
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Com. Reg. No.: |
58572116 |
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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 and Jewellery |
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No. of Employees : |
3 [Including Associates] |
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) |
|
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 |
SAMMY DIAM LTD.
ADDRESS: Room 1107, 11/F., Multifield
Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2736 6858
FAX: 852-2736 6857
E-MAIL: semil@hotmail.com
Managing Director: Mr. Semil
Hasmukh Desai
Incorporated on: 27th June, 2011.
Organization: Private Limited
Company.
Issued Share Capital: HK$1.00
Business Category: Diamond
Trader.
Employees: 3. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SAMMY DIAM
LTD.
Registered Head
Office:-
Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Mailing Address:-
P.O. Box 96202, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Associated
Company:-
Sammy Diam, Hong Kong. (Same
address)
58572116
1622248
Managing Director: Mr. Semil
Hasmukh Desai
(Hong Kong Mobile: 852-9198 9773)
HK$1.00
(As per registry dated 27-06-2014)
|
Name |
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No. of share |
|
Semil Hasmukh DESAI |
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1 = |
(As per registry dated 27-06-2014)
|
Name (Nationality) |
Address |
|
Semil Hasmukh DESAI |
Room 1107, 11/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 27-06-2014)
|
Name |
Address |
Co. No. |
|
Profa-Way Co. Ltd. |
Room 1102B, 11/F., Tower 2, Cheung Sha Wan Plaza, 833 Cheung Sha Wan
Road, Kowloon, Hong Kong. |
0103491 |
The subject was incorporated on 27th June, 2011 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 and jewellery.
Employees: 3. (Including associates)
Commodities Imported: India,
Europe, US.
Markets: Japan, India,
Middle East, Europe.
Terms/Sales: L/C, Advanced T/T,
D/P.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$1.00
Profit or Loss: Made small
profits in past 2 years.
Condition: Business is improving.
Facilities: Making rather active
use of general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Bank of India, Hong Kong Branch.
Standing: Small.
Having issued just one ordinary
shares of HK$1.00 each, Sammy Diam Ltd. is wholly owned by Mr. Semil Hasmukh
Desai who is an India merchant. He is a Hong
Kong ID Card holder and has got the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
Semil Hasmukh Desai can be reached at his Hong Kong mobile phone number
852-9198 9773.
The subject also had an associated company Sammy Diam located at the
same address. Sammy Diam was established
on 8th July, 2005.
The subject and Sammy Diam are engaged in the same lines of
business. Sammy Diam is a partnership
jointly owned by Mr. Semil Hasmukh Desai and his wife Ms. Harsha Semil Desai.
According to the subject, it is an international purchaser of jewellery
products. It also imports rough diamonds
from abroad and processes in Hong Kong.
Finished products are exported to Japan, India, Taiwan, Southeast Asia,
the Middle East, Europe, etc. Main
products carried are loose diamonds, cut and polish diamonds, white diamond
jewellery, colour diamond jewellery, pearl Simulant jewellery, polished and
colour diamonds, etc.
India is the subject’s principal supplying country in Asia. The subject’s business is improving.
The subject has had close business ties with some of the diamond
manufacturers and suppliers in Mumbai, India.
The businesses of the subject and Sammy Diam are chiefly handled by the
couple.
In order to penetrate the international market further, the subject
takes part in fairs and exhibitions held in Hong Kong and the other foreign
large cities. For instance, it is going
to take part in “HKTDC Hong Kong International Diamond, Gem & Pearl Show
2015” which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during
the period of 2nd to 6th March, 2015.
Its booth No. is AWE 7-B28.
The history of the subject is just over three years and seven months.
On the whole, consider the subject good for normal business engagements
in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
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|
1 |
Rs.94.41 |
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Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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|
|
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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.