MIRA INFORM REPORT
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Report No. : |
328566 |
|
Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE GREAT LIMITED |
|
|
|
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Registered Office : |
Flat G, 23/F, Tower 15, Laguna Verde, Hung Hom, Kowloon |
|
|
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Country : |
Hong Kong
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Date of Incorporation : |
28.01.2010 |
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|
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Com. Reg. No.: |
1416720 |
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|
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Trading of Diamonds |
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|
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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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Contact Points
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
NOBLE GREAT LIMITED |
|
Supplied Name: |
NOBLE GREAT LIMITED |
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Trading Address: |
Flat G, 23/F, Tower 15, Laguna Verde, Hung
Hom, Kowloon, Hong Kong |
|
Supplied Address: |
Flat G 23/F ,Tower 15 8 ,Laguna Verde Avenue, Phase 3 ,Costa Delsol
Laguna Verde, Hung Hom, Kowloon, Hong Kong. |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat G, 23/F,
Tower 15, Laguna Verde, Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852- 6767-6220 |
|
Date of Registration: |
2010-1-28 |
|
Registered Number: |
1416720 |
|
Business Registration No.: |
51763823 |
|
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 etc |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-1-28 |
Notes: Subject declined to
disclose its staff number; from other source we cannot obtain the relevant
information, either.
History
Subject was incorporated on 2010-1-28 with the
registered number 1416720 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not introduce
whether it has any subsidiaries or branches, from other source we can not
obtain the relevant information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Mangukiya Kalpesh Babuhai |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Mangukiya Kalpesh Babuhai |
|
Address: |
Flat B, 23/F, Tower 6, Laguna Verde, Hung
Hom, Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Mangukiya Kalpesh Babuhai |
|
Address: |
Flat B, 23/F, Tower 6, Laguna Verde, Hung
Hom, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R964415(5) |
|
2 |
|
|
Name: |
Lodestar Secretaries Limited |
|
Address: |
13/F, Wah Kit Commercial Centre 302 Des
Voeux Road Central Hong Kong |
|
Position: |
Corporate Secretary |
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Registered Number: |
113023 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Flat G, 23/F, Tower 15, Laguna Verde, Hung
Hom, Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Flat G On 23rd Floor Of Tower 15 Costa Del Sol (Phase Ii B) Laguna Verde No.8 Laguna Verde Avenue Kowloon |
|
Owners: |
Chen Changsha |
|
Memorial Number: |
12100501760171 Assignment |
|
Date of Instrument: |
2012-9-18 |
|
Date of Registration: |
2012-10-5 |
|
Consideration Value: |
HKD 7,000,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
12100501760187 |
|
Date of Instrument: |
2012-9-18 |
|
Date of Registration: |
2012-10-5 |
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Nature: |
Tripartite Legal Charge/Mortgage |
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In Favor of: |
Standard Chartered Bank (Hong Kong) Limited |
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Consideration: |
All Money |
|
2 |
|
|
Memorial No.: |
12082700760193 |
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Date of Instrument: |
2012-8-1 |
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Date of Registration: |
2012-8-27 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Chen Changsha |
|
Consideration: |
HKD 7,000,000.00 |
|
3 |
|
|
Memorial No.: |
09052102180068 |
|
Date of Instrument: |
2009-5-6 |
|
Date of Registration: |
2009-5-21 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Luo Shuanghua |
|
Consideration: |
HKD 4,050,000.00 |
Production Information
The subject is a trader of diamonds without
any production activities.
Purchase Information
The subject imports its products from India.
Sales Information
The subject is mainly engaged in sales of
diamonds.
Subject’s major products include loose
diamonds.
Subject’s selling territory is mainly in Hong
Kong.
Subject’s major customers are manufacturers
and designers of watch, jewelry and etc.
It is introduced that subject’s products are
applied to rings, gold watch, necklaces and etc.
Settlements
Purchase
Domestic Purchase
Subject has little purchases in domestic
market.
Import
|
Products |
Diamonds. |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Diamonds |
|
Selling Terms |
Cash, T/T |
Export
Subject has little export.
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
Mortgage Record
No mortgage records of subject were found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
The operator |
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 contacted with the subject’s relevant staff through the supplied
number, he confirmed subject’s name and address for us.
We made an on-site visit to the supplied
address which is a private resident, so we didn’t allow entering, we took the
photos of external view of the building for references.
Flat G, 23/F, Tower 15, Laguna Verde, Hung Hom,
Kowloon, Hong Kong
Flat G, 23/F, Tower 15, Laguna Verde, Hung
Hom, Kowloon, Hong Kong
Flat G, 23/F, Tower 15, Laguna Verde, Hung
Hom, Kowloon, Hong Kong
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its statistical
data has shown the export of polished diamonds to have increase by 28 % in
February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.