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Report No. : |
307431 |
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Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
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Name : |
DIYAAN GEMS LTD. |
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Registered Office : |
Unit 605, 6/F., Winfield Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
13.03.2012 |
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Com. Reg. No.: |
59516985 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds and Gems. |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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% 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 |
DIYAAN GEMS
LTD.
ADDRESS: Unit 605, 6/F., Winfield
Commercial Building, 6-8A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 853-2351
2107
FAX: 853-2351
2107
Managing Director: Mr.
Gaurang Subodh Bajrang
Incorporated on: 13th March, 2012.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 605, 6/F., Winfield Commercial Building, 6-8A Prat
Avenue, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
DS Diam Co. Ltd., Thailand.
Romil Impex Pvt. Ltd., India.
Viya Gems Co. Ltd., Thailand.
59516985
1716257
Managing Director:
Mr. Gaurang Subodh Bajrang
(Mobile Phone Number: 852-9820 2107)
HK$10,000.00
(As per registry
dated 13-03-2014)
|
Name |
|
No. of shares |
|
Gaurang Subodh BAJRANG |
|
10,000 ===== |
(As per registry
dated 13-03-2014)
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Name (Nationality) |
Address |
|
Jainesh Sureshkumar SHAH |
102 Pooja Appartment, Limbachiya Faliya, Katargam Road,
Surat 395004, Gujarat, India. |
|
Gaurang Subodh BAJRANG |
6-1892 Bali Sheri Mahidhar Pura Surat, Gujarat 395003,
India. |
(As per registry
dated 13-03-2014)
|
Name |
Address |
Co. No. |
|
Datt Consultants |
Flat E, 8/F., Far East Mansion, 5-6 Middle Road,
Tsimshatsui, Kowloon, Hong Kong. |
- |
The subject was
incorporated on 13th March, 2012 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at Flat A-1, 7/F., Far East Mansion, 5‑6 Middle Road,
Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from
23rd November, 2012.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of diamonds and gems
Employees: 2.
Commodities Imported: India,
other Asian countries, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: Prepayment, L/C, T/T,
etc.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
a small profit in 2014.
Condition: Business
keeps on improving.
Facilities: Making
rather active use of general banking facilities.
Payment: Slow
Commercial Morality:
Satisfactory
Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000
ordinary shares of HK$1.00 each, Diyaan Gems Ltd. is wholly owned by Mr.
Gaurang Subodh Bajrang who is a Hong Kong ID holder. He has got the right to reside in Hong Kong
permanently.
He got his new Hong
Kong ID just in February 2013. He is
also managing director of the subject.
The subject is a
diamond and gemstone trader. According
to the subject it is trading in diamonds certified by GIA, HRD, IGI, etc. Size rages from 0.23 cts to 5.00 cts; and in
4.00 mm, 4.50 mm, 5.00 mm, 5.40 mm, 6.00 mm, 6.30 mm, etc.
The subject’s
products bear the brand name Diyaan and Romil.
The subject has had
the following associated companies in Thailand and India:-
· Viya Gems Co. Ltd., Thailand.
· DS Diam Co. Ltd., [DS Diam] Thailand.
· Romil Impex Pvt. Ltd., India.
DS Diam is trading in
full cut, white, TTLB, TTLC diamonds. It
purchases 9K, 10K, 14K and 18K jewellery.
DS Diam is in Bangkok, Thailand and its contact person is also Mr.
Gaurang Subodh Bajrang.
In Hong Kong, the
subject’s business is chiefly administered by Gaurang Subodh Bajrang.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities. In 2014, it took part in International
Jewelry + Watch Vietnam (IJV).
Besides, 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 5-H16.
The history of the
subject in Hong Kong is just over two years and eleven months. Business keeps on improving.
On the whole, since
the history of the subject is short, consider it good for normal business
engagements on L/C basis or in very small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.