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Report No. : |
302767 |
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Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG DIAMOND LTD. |
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Registered Office : |
Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok
Yuen Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.07.2009 |
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Com. Reg. No.: |
50850970 |
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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 GEMSTONES |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
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 |
HONG KONG DIAMOND
LTD.
ADDRESS: Room 3, Flat F2, 9/F., Phase 2,
Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2362
4222
FAX: 852-2362
4777
Managing Director: Mr. Kuntal
Deepak Shah
Incorporated on: 2nd July, 2009.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HONG KONG DIAMOND
LTD.
Registered Head
Office:-
Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok
Yuen Street, Hunghom, Kowloon, Hong Kong.
Business name:-
TNK Gems, Hong Kong. (Same
address)
Associated
Company:-
Hongkong Diamond Trading Co. Ltd., Hong Kong. (Same address)
50850970
1349898
Managing Director: Mr. Kuntal
Deepak Shah
[Mobile Phone No.: 852-9011 0727.]
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
(As per registry dated 02-07-2014)
|
Name |
|
No. of share |
|
Kuntal Deepak SHAH |
|
10,000,000 ======== |
(As per registry dated 02-07-2014)
|
Name (Nationality) |
Address |
|
Kuntal Deepak SHAH |
Block A, 10/F., Garden Mansion, 154-156 Austin Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 02-07-2014)
|
Name |
Address |
Co. No. |
|
Exchequer Ltd. |
Room 1102, 11/F., Oriental Centre, 67-71 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong. |
0803651 |
The subject was incorporated on 2nd July, 2009 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1102, 11/F., Oriental Centre,
67‑71 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong where is
the operating address of Longmart Consultants Ltd., moved to Room 3, Flat F2,
9/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom,
Kowloon, Hong Kong in August 2011; moved to the Block A, 10/F., Garden Mansion,
154-156 Austin Road, Tsimshatsui, Kowloon, Hong Kong in early 2012 and moved
back to its second last address in early 2013.
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 gemstones
Employees: 2.
Commodities Imported: India,
Belgium, other European countries
Markets: Hong
Kong, China, Japan, other Asian countries,
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Nominal Share Capital: HK$10,000,000.00 (Divided into 10,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Made a small
profit in 2012 & 2013.
Condition: Business keeps
on improving.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Hong Kong Diamond Ltd. was incorporated on 2nd July, 2009 as a diamond
trading company.
Formerly it had just issued 1 ordinary share of HK$1.00 which was owned
by Mr. Kuntal Deepak Shah. In 2012, the
subject created 9,999,999 shares to make up its number of shares to 10,000,000
of the same value. The newly created
shares were all allotted to Shah who is an India merchant.
Shah 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 and he can be reached at his mobile phone number
852-9011 0727.
The subject’s old registered and operating office was located at Block
A, 10/F., Garden Mansion, 154-156 Austin Road, Tsimshatsui, Kowloon,
Hong Kong where is the current Hong Kong residence of Shah. This is a residential building which is not
trespassed by outsiders.
The subject is a diamond trader.
It is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds
like white goods, round, marquise, pears, tappers, buggets, black diamonds, and
rose cut diamonds. Most of the
commodities, chiefly loose diamonds, are imported from India and European
countries. Prime markets are Hong Kong,
China, Japan, the other Asian countries, etc.
Business keeps on improving.
The subject has had a wholly-owned subsidiary TNK Gems, a Hong Kong‑registered
firm located at the same address. TNK
Gems is also the business name of the subject.
The subject has had an associated company known as Hong Kong Diamond
Trading Co. Ltd. [HKDTCL] located at the same address. HKDTCL and the subject are under the same
management.
In order to penetrate the international market further, HKDTCL has taken
part in fairs and exhibitions held in Hong Kong and other foreign large cities
For instance, it is going to take part in “HKTDC Hong Kong International
Jewellery Show 2015” which will be held in Hong Kong Convention and Exhibition
Centre, Wanchai, Hong Kong during the period of 4th to 8th March, 2015.
The subject’s business is chiefly operated solely by Shah himself. History in Hong Kong is just over five years
and two months.
On the whole, consider it good for normal business engagements in
moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
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.