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Report No. : |
303813 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ROGER MORE DIAM |
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Registered Office : |
Flat H, 17/F., Kam Shan Mansion, 5 Tai Fung Avenue, Taikoo Shing |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.02.2011 |
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Com. Reg. No.: |
53755890-000-02 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Loose Diamonds. |
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No. of Employee : |
No Employee in Hong Kong 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
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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 : |
Very Small Company |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
ROGER MORE DIAM
ADDRESS: Flat H, 17/F., Kam Shan
Mansion, 5 Tai Fung Avenue, Taikoo Shing, Hong Kong.
PHONE: Not available
FAX: Not available
Manager: Mr. Rajesh Mahendrakumar
Doshi
Establishment: 18th February,
2011.
Organization: Sole
Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ROGER MORE
DIAM
Head Office:-
Flat H, 17/F., Kam Shan Mansion, 5 Tai Fung Avenue, Taikoo Shing, Hong
Kong.
Associated
Companies:-
Diagold Creation Pvt. Ltd., India.
East West Trader, Hong Kong.
Shanghai Summit Ltd., Hong Kong.
53755890-000-02
Manager: Mr. Rajesh Mahendrakumar
Doshi
Name: Mr. Rajesh Mahendrakumar
DOSHI
Residential Address: 58/110
Bharja Bhuvan Kika Street, Gulalwadi, Mumbai 400004, India.
The subject was established on 18th February, 2011 as a Sole
Proprietorship concern owned by Mr. Rajesh Mahendrakumar Doshi under the Hong
Kong Business Registration Regulations.
Formerly the subject’s registered address was located at c/o Crisp
Business Services (HK) Ltd., 9/F., Bel Trade Commercial Building, 3 Burrows
Street, Wanchai, Hong Kong, moved to the present address in April 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of
loose diamonds.
Employees: Nil.
Commodities Imported: India, other
Asian countries.
Markets: Hong Kong,
China, other Asian countries.
Terms/Sales: L/C, T/T.
Terms/Buying: Prepayment, L/C.
Capital: Not disclosed.
Profit or Loss: Made very small
profit in 2012 & 2013.
Condition: Business is
improving.
Facilities: Making fairly
active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Roger More Diam is a sole proprietorship set up and owned by Mr. Rajesh
Mahendrakumar Doshi who is an Indian. Being
manager of the subject, he is an India passport holder and does not have the
right to reside in Hong Kong permanently.
The subject commenced business in February 2011.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories.
The subject’s registered address is in a private building located at
Flat H, 17/F., Kam Shan Mansion, 5 Tai Fung Avenue, Taikoo Shing, Hong
Kong. This is the residence of Doshi
when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
The subject is a loose 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 keeps on improving.
The subject is just a one-man company.
Business is chiefly handled by Doshi himself. History in Hong Kong is just about four
years.
Besides operating the subject, Doshi is operating another firm known as
Shanghai Summit Ltd. [SSL] which is located at the same address.
SSL was incorporated on 7th April, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance. It has issued 10,000 ordinary shares of
HK$1.00 each which are wholly-owned by Doshi.
SSL is also a diamond trader.
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 or
in very small credit amounts.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.50 |
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|
1 |
Rs.92.16 |
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Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.