MIRA INFORM REPORT

 

 

Report No. :

329527

Report Date :

29.06.2015

 

IDENTIFICATION DETAILS

 

Name :

NOBLE JEWELRY LIMITED 

 

 

Registered Office :

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

09.06.1992

 

 

Com. Reg. No.:

361214

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and sales of jewelry such as Fine Jewelery set with diamond in 18K White, Yellow Gold and Platinum

 

 

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

 

 

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 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

 

Contact Points

 

Company Name (in English):

Noble Jewelry Limited

Supplied Name:

Noble Jewelry Ltd

Trading Address:

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

Supplied Address:

Unit m 12/f Phase 3 Kaiser Estate 11 Hok Yuen Street Hung Hom Kowloon

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

Noble Jewelry Limited

Registered Address:

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

Telephone Number:

+852-2722-1132

Fax Number:

+852-2369-1412

E-mail:

info@noble.com.hk

Date of Registration:

1992-6-9

Registered Number:

361214

Business Registration No.:

15765403

Paid-up Capital:

HKD 1,000,000 (USD 129,000) = 10,000 Shares@ HKD 100

(As of 2015.02, 1 HKD = 0.129 USD)

Legal Form:

Private Limited Liability Company

SITC Code:

89731--Articles of jewellery and parts thereof, of precious metals or metals clad with precious metals (g)

Principal Activities:

engaged in  Manufacturing and sales of jewelry such as Fine Jewelery set with diamond in 18K White, Yellow Gold and Platinum

Staff:

N/A

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-6-9

 

Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.

 

 

History

 

Subject was incorporated on 1992-6-9 with the registered number 361214 as Private Limited Liability Company in Hong Kong.

 

 

Corporate Structure

 

Parent Company

Name:

Noble Jewelry (BVI) Limited

Registered Address:

2nd Floor, Abbott Building, Road Town, Tortola, British Virgin Islands

 

Factory

Name:

Guangzhou Noble Jewelry Ltd

Address:

B3-building, Sha Wan Jewelry Industrial Park, No.999 Fulong Road, Sha Wan, Panyu District, Guangzhou, P.R.C.

Telephone Number:

+86- (20) 34878889

Fax Number:

+86-(20) 34878882

Note: It is introduced that subject has two offices in New York, USA and London, UK, but the subject declined to disclose the details for us, and we cannot find the relevant information from other valid sources, either.

 

 

Shareholders

 

Unit: HKD

Name

Subscription Amount

Proportion of Investment (%)

Noble Jewelry (BVI) Limited

10,000

100%

Total

10,000

100%

 

Major Shareholder Information:

Name:

Noble Jewelry (BVI) Limited

Registered Address:

2nd Floor, Abbott Building, Road Town, Tortola, British Virgin Islands

 

 

Management Information

 

Core Management

Detailed Information of Directors:

1

Name:

Chan Yuen Hing

Registered Address:

Flat A, 7/F, Block 1, Hill Paramount, 18 Hing Tai Street, Tai Wai, Shatin, New Territories, Hong Kong

Position:

Director

ID Number:

G1874787(9)

2

Name:

Chan Lai Yung

Registered Address:

Flat 4, 8th Floor, Kam Pak House, Hong Pak Court, Lam Tin, Kowloon, Hong Kong

Position:

Director

ID Number:

C278613(1)

3

Name:

Tang Chee Kwong

Registered Address:

Flat E, 27th Floor, Tower 28, South Horizons, Apleichau, Hong Kong

Position:

Director

ID Number:

D062408(0)

4

Name:

Setiawan Tan Budi

Registered Address:

Room B, 10/F, Block 20, Chi Fu Fa Yuen, 20 Chi Fu Road, Pok Fu Lam, Hong Kong

Position:

Director

ID Number:

R446673(9)

5

Name:

Sin Lap Poon

Address:

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

Position:

Individual Secretary/Director

Registered Number:

K103152(A)

 

 

Operation Information

 

Offices & Factories

 

Office

Address:

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

 

Premises Information

Office address:

Address:

Unit M On 12th Floor

Kaiser Estate 3rd Phase

No.11 Hok Yuen Street

Kowloon

Owners:

Noble Jewelry Limited

Memorial Number:

11012100560056

Assignment

Date of Instrument:

2010-12-28

Date of Registration:

2011-1-21

Consideration Value:

HKD 24,672,000.00

 

History of Premises Owners’

1

Memorial No.:

11012100560060

Date of Instrument:

2010-12-28

Date of Registration:

2011-1-21

Nature:

Legal Charge/Mortgage

In Favor of:

Standard Chartered Bank (Hong Kong) Limited

Consideration:

All Monies

2

Memorial No.:

10090700440343

Date of Instrument:

2010-9-27

Date of Registration:

2010-9-7

Nature:

Agreement For Sale And Purchase

In Favor of:

Noble Jewelry Limited

Consideration:

HKD 24,672,000.00

3

Memorial No.:

UB8785017

Date of Instrument:

2002-9-24

Date of Registration:

2002-9-30

Nature:

Agreement For Sale And Purchase

In Favor of:

C. Art Limited

Consideration:

HKD 5,900,000.00

 

Production Information

l  The subject is a manufacturer of jewelry

l  It is introduced that subject has a factory in Guangzhou, the mainland of China for production.

l  It is introduced that subject has obtained ISO 9001, ISO14001, HKJJA (Hong Kong Jewellery & Jade Manufacturers' Association), HKJMA (Hong Kong Jewelry Manufacturers' Association), The 3rd Hong Kong SME Award Best Managed SME Award, 2000 Hong Kong Awards for Industry Certificate of Merit in Productivity Hong Kong Productivity Council and etc.

 

Purchase Information

l  The subject purchases its raw materials both at home and abroad.

l  It is introduced that subject imports some precious stones such as diamonds from India.

 

Sales Information

l  The subject is mainly engaged in sales of jewelry

l  It is introduced that subject’s major products are Fine Jewelery set with diamond in 18K white, yellow gold and platinum

l  It is introduced that subject’s selling territory includes China, Japan, America and Europe, the Middle of East and etc.

l  It is introduced that subject’s major customers are manufacturers and sellers of jewelry and etc.

l  It is introduced that subject also provide OEM and ODM services, etc.

 

Trademark

1

Trade Mark No.:

300928963

Status:

Registered

Mark:

CA



image

Mark Type:

Ordinary

擁有人
Owner's Name, Address:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Owner's Address
for Service:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Class No.:

14

Specification:

Class 14
Precious metals and their alloys and goods in precious metals or coated therewith, not included in other classes; jewellery, precious stones; horological and chronometric instruments. jewellery (i.e., imitation jewellery and jewellery of precious metal and stones); cuff links, tie pins.

Date of Filing:
(D-M-Y)

07-08-2007

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

02-11-2007

Date of Registration:
(D-M-Y)

07-08-2007

Actual Date of
Registration:
(D-M-Y)

12-02-2008

Expiry date:
(D-M-Y)

06-08-2017

Historical Details:

 

Date of entry

Matters

26-10-2011

ASSIGNMENT/TRANSFER

12-02-2008

REGISTRATION

2

Trade Mark No.:

300928954

Status:

Registered

Mark:

NOBLEDIAM



image

Mark Type:

Ordinary

Owner's Name, Address:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Owner's Address
for Service:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Class No.:

14

Specification:

Class 14
Precious metals and their alloys and goods in precious metals or coated therewith, not included in other classes; jewellery, precious stones; horological and chronometric instruments. jewellery (i.e., imitation jewellery and jewellery of precious metal and stones); cuff links, tie pins.

Date of Filing:
(D-M-Y)

07-08-2007

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

02-11-2007

Date of Registration:
(D-M-Y)

07-08-2007

Actual Date of
Registration:
(D-M-Y)

12-02-2008

Expiry date:
(D-M-Y)

06-08-2017

Historical Details:

 

Date of entry

Matters

26-10-2011

ASSIGNMENT/TRANSFER

12-02-2008

REGISTRATION

3

Trade Mark No.:

300928945

Status:

Registered

Mark:

ND



image

Mark Type:

Ordinary

Owner's Name, Address:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Owner's Address
for Service:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Class No.:

14

Specification:

Class 14
Precious metals and their alloys and goods in precious metals or coated therewith, not included in other classes; jewellery, precious stones; horological and chronometric instruments. jewellery (i.e., imitation jewellery and jewellery of precious metal and stones); cuff links, tie pins.

Date of Filing:
(D-M-Y)

07-08-2007

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

02-11-2007

Date of Registration:
(D-M-Y)

07-08-2007

Actual Date of
Registration:
(D-M-Y)

12-02-2008

Expiry date:
(D-M-Y)

06-08-2017

Historical Details:

 

Date of entry

Matters

26-10-2011

ASSIGNMENT/TRANSFER

12-02-2008

REGISTRATION

4

Trade Mark No.:

300010754

Status:

Registered

Mark:

 



image

Mark Type:

Ordinary

Owner's Name, Address:

NOBLE JEWELRY LIMITED
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Owner's Address
for Service:

Noble Jewelry Limited
Unit M, 12/F., Phase 3, Kaiser Estate,
11 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong

Class No.:

14

Specification:

Class 14
jewellery, clocks and watches.

Date of Filing:
(D-M-Y)

25-04-2003

Date of Publication of
Application of Acceptance for
Registration:
(D-M-Y)

23-05-2003

Date of Registration:
(D-M-Y)

25-04-2003

Actual Date of
Registration:
(D-M-Y)

03-10-2003

Expiry date:
(D-M-Y)

24-04-2023

Historical Details:

 

Date of entry

Matters

03-10-2003

REGISTRATION

 

Settlements

 

Purchase

1.     Domestic Purchase

Products

Raw materials and etc

Payment Terms

Cash, T/T and etc

 

2.     Import

Products

Raw materials and etc

Payment Terms

L/C, T/T and etc

 

Sales

1.     Domestic Markets

Product

Jewelry and etc

Selling Terms

Cash, T/T and etc

 

2.     Export

Product

Jewelry and etc

Selling Terms

L/C, T/T and etc

 

 

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 Ms. Lee 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

1

Company Name:

Noble Jewelry Limited (the “assignor”)

Instrument of Creating Mortgage:

Assignment of life insurance (the “assignment”)

Date of Creating Mortgage:

2013-10-28

Amount Secured:

To secured liabilities (as defined in the assignment

Name of Mortgagee:

China CITIC Bank International Limited (the “bank”)

Address of Mortgagee:

61-65 Des Voeux Road Central Hong Kong

2

Company Name:

Noble Jewelry Limited (the “assignor”)

Instrument of Creating Mortgage:

Assignment of life insurance

Date of Creating Mortgage:

2013-2-7

Amount Secured:

“Secured monies“ means (i) all and any monies and liabilities in any currency whenever and however incurred, owing by the assignor to the bank at any branch or office at any time, whether separately or jointly with any other person, actually or contingently, whether presently or in future in any capacity (whether as principal or surety, including amounts payable by the assignor under this deed; (ii) interest on such monies (both before and after any demand or judgment), to the date on which the bank receives payment, at the rates payable by the assignor or which would have been payable but for any circumstance which restricts payment, and (iii0 all monies paid by the bank in respect of the policy pursuant to the terms of this deed; and (iv) all expenses of the bank in perfecting or enforcing this deed on a full indemnity basis.

Name of Mortgagee:

The Hongkong And Shanghai Banking Corporation Limited

Address of Mortgagee:

HSBC Main Building No. 1 Queen’s Road Central Hong Kong

3

Company Name:

Noble Jewelry Limited

Instrument of Creating Mortgage:

Security over deposits with the bank (limited company- under seal)

Date of Creating Mortgage:

2011-10-27

Date of Discharge of the Charge:

2012-7-23

Amount Secured:

Amount secured –(i) all monies in any currency owing by the company to the charge at any time, actually or contingently, in any capacity, alone or jointly with any other person, (ii) interest on such monies (both before and after any demand or judgment), to the date on which the charge receives payment, at the rates payable by the company or which would have been payable but for any circumstance which restricts payment and (iii) all expenses of the charge in perfecting or enforcing the charge

Name of Mortgagee:

The Hongkong And Shanghai Banking Corporation Limited

Address of Mortgagee:

HSBC Main Building No. 1 Queen’s Road Central Hong Kong

Description of Property Mortgaged:

A deposit with charge in the amount for HKD 5,170,000 – under Deposit A/C No. 026-241521, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the charge at any of its offices.

4

Company Name:

Noble Jewelry Limited

Instrument of Creating Mortgage:

Legal charge/mortgage

Date of Creating Mortgage:

2010-12-24

Amount Secured:

To secure “all moneys” in respect of general banking facilities and interest thereon.

Name of Mortgagee:

Standard Charterd Bank (Hong Kong) Limited

Address of Mortgagee:

32nd Floor, 4-4A Des Voeuc Road Central, Hong Kong

Description of Property Mortgaged:

All those 118/5,000th shares of and in section of Kowloon Marine Lot No. 40 and Subsection 1 of Section H of Kowloon Marine Lot No. 40 (All that Unit M on the 12th Floor of Kaiser Estate 3rd Phase, Nos. 9-11A Hok Yuen Street and No. 18 Man Lok Street, Kowloon, Hong Kong) and all fixtures (if any) belonging to the Mortgagor from time to time thereon or therein (other than personal chattels as defined in the bills of sale ordinance (chapter 20 of the laws of Hong Kong)

 

 

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

High Court Companies Winding-Up:

Clear

 

 

Special Note

 

Interview Details

Name

Ms. Lee

 

Industry Information

 

89731--Articles of jewellery and parts thereof, of precious metals or metals clad with precious metals (g)

Unit: HKD/000

 

2014.05

2014.01~2014.05

 

Quantity

Value

Quantity

Value

Imports

United Arab Emirates

360,811

286,593

1,910,636

2,509,526

Austria

3,452

187

14,139

4,212

Australia

28,455

20,576

193,679

76,769

Belgium

5,306

2,991

18,285

12,571

The Mainland of China

15,416,663

2,786,822

80,725,040

14,919,295

Exports

United Arab Emirates

34,144

20,993

266,704

182,114

Austria

895

1,895

2,797

5,247

Australia

15,794

11,843

141,972

57,892

Belgium

1,028

1,273

19,070

8,044

The Mainland of China

286,047

25,826

1,126,839

117,609

 

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

2011

3,764,596

65,662

3,271,592

3,337,253

+10.1

-427,343

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

2013.03

340,857

5,073

286,638

291,711

+11.2

-49,146

2013.04

332,963

4,503

285,763

290,267

+9.0

-42,696

2013.05

335,809

4,818

286,724

291,542

-1.0

-44,267

2013.06

327,309

4,476

273,161

277,637

-0.2

-49,673

2013.07

342,565

4,783

300,630

305,413

+10.6

-37,152

2013.08

347,059

4,932

302,558

307,490

-1.3

-39,570

2013.09

359,841

4,395

313,436

317,830

+1.5

-42,010

2013.10

361,196

4,458

318,686

323,144

+8.8

-38,052

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

 

*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.

 

Attachment

 

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

IMG_1

 

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

IMG_2

 

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

IMG_3

 

Flat M, 12/F, Phase 3, Kaiser Estate, 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong

IMG_4

 

 

 

 

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

UK Pound

1

Rs.100.09

Euro

1

Rs.71.23

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

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

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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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.