MIRA INFORM REPORT
|
Report No. : |
325653 |
|
Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ECLATS JEWELRY LIMITED |
|
|
|
|
Registered Office : |
Unit M9, 2F, Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street, Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
13.06.2003 |
|
|
|
|
Com. Reg. No.: |
33722708 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
TRADING OF DIAMONDS AND JEWELRY |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
|
Source
: CIA |
Company
name and address
|
Company Name: |
Eclats Jewelry Limited |
|
Supplied Name: |
ECLATS JEWELRY LTD |
|
Trading Address: |
Unit M9, 2F, Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street, Hung
Hom, Kowloon, Hong Kong |
|
Supplied Address: |
UNIT M9 A, 2ND FLOOR, KASIER ESTATE, 9 HOK YUEN STREET, HUNG HOM,
KOWLOON, HONG KONG. |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit M9, 2F,
Kaiser Estate, Phase 3, No. 9-11 Hok Yuen St., Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-3549-6797 |
|
Fax Number: |
+852-3747-7384 |
|
Date of Registration: |
2003-6-13 |
|
Registered Number: |
849694 |
|
Business Registration No.: |
33722708 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.06, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise
worked, but not mounted or set (cm) |
|
Principal Activities: |
Trading of diamonds and jewelry |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-13 |
Crediteyes Notes: Subject
declined to disclose the number of staff, and from other source we cannot
obtain the information, either.
History
Subject was incorporated on 2003-6-13 with the
registered number 849694 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches; from
other source we could not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Ramesh Damjibhai Pavsiya |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Ramesh Damjibhai Pavsiya |
|
Address: |
4-6, Vallab Nagar Society, Varachha Rd.,
Dist-Surat, India |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Ramesh Damjibhai Pavsiya |
|
Address: |
4-6, Vallab Nagar Society, Varachha Rd.,
Dist-Surat, India |
|
Position: |
Director |
|
Passport Number: |
Z1534325 |
|
Issuing Country: |
India |
|
2 |
|
|
Name: |
Champion Corporation |
|
Address: |
Unit 907, 9F, Silvercord Tower 2, 30 Canton
Rd., Tsim Sha Tsui, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
657221 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit M9, 2F, Kaiser Estate, Phase 3, No.
9-11 Hok Yuen St., Hung Hom, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit M9, 2F, Kaiser Estate, Phase 3, No. 9-11
Hok Yuen St., Hung Hom, Kowloon, Hong Kong |
|
Owners: |
Chan Yu
Ching Joint Tenant Chan Hei Ping Vera Joint Tenant Chan Ching Ching Trudee Joint Tenant Chan Kam Yee Joint Tenant |
|
Memorial Number: |
11120800090033 |
|
Date of Instrument: |
2011-10-22 |
|
Date of Registration: |
2011-12-8 |
|
Consideration Value: |
-- |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
11120800090025 |
|
Date of Instrument: |
2011-10-22 |
|
Date of Registration: |
2011-12-8 |
|
Nature: |
Deed Of Family Arrangement |
|
2 |
|
|
Memorial No.: |
UB2176484 |
|
Date of Instrument: |
1981-11-18 |
|
Date of Registration: |
1981-12-3 |
|
Nature: |
Tenancy Agreement For 4 Years
From 1.12.1981 |
|
In Favor of: |
Nissei Sangyo Company Limited |
|
3 |
|
|
Memorial No.: |
UB2104392 |
|
Date of Instrument: |
1981-6-8 |
|
Date of Registration: |
1981-6-25 |
|
Nature: |
Deed of Mutual Covenant |
Production
Information
- Subject is
engaged in trading of diamonds and jewelry. without any production
activities.
- It is
introduced that subject has a cooperate factory in India for production.
Purchase
Information
- It is
introduced that subject’s products are mainly purchased from India.
Sales Information
- Subject is
engaged in sale of diamonds and jewelry.
- The major
products of the subject are loose diamonds, polished diamonds, jewelry.
- Subject’s
sales regions include domestic market and abroad.
- The major
customers of the subject are manufacturers of watches and jewelry, and
jewelry shops.
Settlements
Purchase
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Diamonds and jewelry |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Diamonds and jewelry |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Diamonds and jewelry |
|
Selling Terms |
L/C, T/T |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the
only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information; from
other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
|
Date: |
2013-10-12 |
|
Court Name: |
High Court Civil Action |
|
Court No.: |
1945 |
|
Claimant: |
Eclats Jewelry Ltd c/o Cheung & Lee (a firm) (HCA) |
|
Defendant: |
Paul Nikunjam Vijayan t/a Oriental Trading c/o Flat 503, 5/F, Silvercord, Tower 2, 30
Canton Road, Tsim Sha Tsui, Kln |
|
Reason: |
Debt |
|
Amount(EUR): |
186,128.00 |
|
2 |
|
|
Date: |
2008-06-28 |
|
Court Name: |
District Court Tax Claim |
|
Court No.: |
5098 |
|
Claimant: |
Commissioner of Inland Revenue |
|
Defendant: |
Eclats Jewelry Ltd c/o Unit 01, 21/F, Tower One, Lippo Centre, 89
Queensway, HK |
|
Reason: |
Taxation |
|
Amount(HKD): |
19,878.00 |
|
3 |
|
|
Date: |
2008-06-05 |
|
Court Name: |
District Court Tax Claim |
|
Court No.: |
4604 |
|
Claimant: |
Commissioner of Inland Revenue |
|
Defendant: |
Eclats Jewelry Ltd c/o Unit 01, 21/F, Tower One, Lippo Centre, 89
Queensway, HK |
|
Reason: |
Taxation |
|
Amount(HKD): |
42,916.00 |
|
4 |
|
|
Date: |
2008-04-30 |
|
Court Name: |
District Court Tax Claim |
|
Court No.: |
4037 |
|
Claimant: |
Commissioner of Inland Revenue |
|
Defendant: |
Eclats Jewelry Ltd c/o Unit 01, 21/F, Tower One, Lippo Centre, 89
Queensway, HK |
|
Reason: |
Taxation |
|
Amount(HKD): |
126,722.00 |
|
5 |
|
|
Date: |
2006-11-17 |
|
Court Name: |
High Court Civil Action |
|
Court No.: |
2543 |
|
Claimant: |
Eclats Jewelry Ltd |
|
Defendant: |
Dia-Brilliant Jewelry Co Ltd |
|
Reason: |
Money Due |
|
Amount(HKD): |
-- |
Mortgage Record
|
Company Name: |
Eclats Jewelry Ltd |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2010-10-8 |
|
Amount Secured: |
To secure “all moneys” in respect of certain
banking facilities with interest thereon. |
|
Name of Mortgagee: |
Hang Seng Bank Limited |
|
Address of Mortgagee: |
83 Dex Voeux Rd. Central, Hong Kong |
|
Description of Property Mortgaged: |
All those 235/341, 874th parts or
shares of and in Kowloon Inland Lot No. 11118 (Flat B on 31th Floor of Block
9 & Private Carparking Space No. 181 on Level 3 Parc Palais, No. 18 Wylie
Rd., Kowloon) |
Special
Note
Interview Details
|
Name |
Mr. Mahesh |
Industry
Information
66729--Diamonds,
non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
113,655 |
854,839 |
1,452,417 |
10,085,815 |
|
Brazil |
33 |
1,437 |
174 |
5,836 |
|
Australia |
2,033 |
41,188 |
10,332 |
181,710 |
|
Belgium |
81,093 |
1,198,674 |
1,070,230 |
181,710 |
|
Germany |
154 |
614 |
18,279 |
80,845 |
|
Canada |
202 |
1,578 |
7,643 |
104,109 |
|
Switzerland |
5,866 |
161,374 |
56,112 |
1,665,846 |
|
Japan |
36,378 |
286,671 |
497,269 |
3,174,371 |
|
Thailand |
65,194 |
243,239 |
657,318 |
3,002,179 |
|
India |
765,990 |
3,982,962 |
12,544,931 |
64,883,740 |
|
The Mainland of China |
117,833 |
912,624 |
1,337,780 |
10,148,553 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
54 |
4,421 |
|
Israel |
61 |
10,875 |
153 |
38,772 |
|
-- |
-- |
3 |
116 |
|
|
Thailand |
-- |
-- |
422 |
1,865 |
|
USA |
140 |
2,916 |
2,982 |
55,371 |
|
Belgium |
2 |
74 |
463 |
70,594 |
|
Singapore |
-- |
-- |
28 |
4,990 |
|
The Mainland of China |
186 |
496 |
4,894 |
15,396 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change
of Total exports |
Merchandise trade
balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
We visited the supplied address and confirmed the
subject is located on it with the relevant staff of the subject. But there is
no subject’s company name on the wall.
Address: Unit M9, 2F, Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street,
Hung Hom, Kowloon, Hong Kong
Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong
2F, Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong
Unit M9, 2F, Kaiser Estate, Phase 3, No. 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.