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Report No. : |
302716 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
PACIFIC DIAMONDS LTD. |
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Registered Office : |
Flat A, 4/F., South East Mansion, 75 Kimberley Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.07.2009 |
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Com. Reg. No.: |
50865926 |
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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 |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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 |
|
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 |
PACIFIC DIAMONDS
LTD.
ADDRESS: Flat A, 4/F., South East
Mansion, 75 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2367 7277
Manager: Mr. Pradeep Natani
Incorporated on: 7th July, 2009.
Organization: Private Limited
Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Diamond
Trader.
Employees: Nil.
Main Dealing Banker: Industrial
& Commercial Bank of China (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
PACIFIC DIAMONDS
LTD.
Registered Head
Office:-
Flat A, 4/F., South East Mansion, 75 Kimberley Road, Tsimshatsui,
Kowloon, Hong Kong.
50865926
1351122
Manager: Mr. Pradeep Natani
HK$1,000,000.00
(As per registry dated 07-07-2014)
|
Name |
|
No. of shares |
|
Pradeep NATANI |
|
1,000,000 |
(As per registry dated 07-07-2014)
|
Name (Nationality) |
Address |
|
Pradeep NATANI |
Flat A, 4/F., South East Mansion, 75 Kimberley Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 07-07-2014)
|
Name |
Address |
|
Monju AHMED |
Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road,
Yau Ma Tei, Kowloon, Hong Kong. |
The subject was incorporated on 7th July, 2009 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
Employees: Nil.
Commodities Imported: India, other
Asian countries
Markets: Hong Kong,
China, other Asian countries
Terms/Sales: COD or as per
contracted.
Terms/Buying: L/C, T/T
Issued Share Capital: HK$1,000,000.00
Mortgage or charge: (See
attachment)
Profit or Loss: Making a small
profit in 2013.
Condition: Keeping in a fairly
active manner.
Facilities: Making rather active
use of general banking facilities.
Payment: Unknown.
Commercial Morality:
Satisfactory.
Bankers:-
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 1 million ordinary shares of HK$1.00 each, Pacific
Diamonds Ltd. is wholly-owned by Mr. Pradeep Natani who is an India
merchant. He is a Hong Kong ID holder
and has got the right to reside in Hong Kong permanently. He is also the only director of the subject. Natani has been in Hong Kong for a very long
time.
The subject’s registered address is in a private building located at
Flat A, 4/F., South East Mansion, 75 Kimberley Road, Tsimshatsui, Kowloon,
Hong Kong. This is the residence of
Natani.
The residential building is not trespassed by outsiders. The subject has no employees in Hong
Kong. The subject can be reached at your
given Hong Kong phone number 852-2367 7277.
The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India. Prime markets are
Hong Kong, China, and the other Asian countries. Business is normal.
The subject is just a one-man company.
Business is chiefly handled by Natani himself. History in Hong Kong is just over five years
and six months.
The subject has got premises mortgaged to Industrial & Commercial
Bank of China (Asia) Ltd. and The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Since the registered office of the subject is in a residential building,
on the whole, consider it good for normal business engagements on L/C basis for
the time being.
|
Date |
Description of
Instrument |
Mortgagee |
|
07-10-2013 |
Mortgage |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
|
10-03-2014 |
Second Legal Charge |
Dimexon (Hong Kong) Ltd. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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 |
|
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 |
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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 |
|
<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.