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Report No. : |
312674 |
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Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
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Name : |
GREAT DIAM (HK) LTD. |
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Registered Office : |
Room 405, 4/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.06.2006 |
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Com. Reg. No.: |
36840731 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Supplier, Importer and Exporter of Diamond, jewellery |
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No of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
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Source
: CIA |
GREAT DIAM
(HK) LTD.
ADDRESS: Room 405, 4/F., Chevalier
House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2724 0870
FAX: 852-2724 0871
E-MAIL: greatdiamhk@hotmail.com
Managing Director: Mr. Bhavesh
Parshottambhai Moradiya
Incorporated on: 7th June, 2006.
Organization: Private Limited
Company.
Issued Share Capital: HK$3,500,000.00
Business Category: Diamond
Trader.
Employees: 5.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
GREAT DIAM
(HK) LTD.
Registered Head Office:-
Room 405, 4/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
Associated/Affiliated Company:-
Great Diam Co. Ltd., Thailand.
36840731
1050350
Managing Director: Mr. Bhavesh
Parshottambhai Moradiya
HK$3,500,000.00
(As per registry dated
07-06-2014)
|
Name |
|
No. of shares |
|
Bhavesh Parshottambhai MORADIYA |
|
3,500,000 ======= |
(As per registry
dated 07-06-2014)
|
Name (Nationality) |
Address |
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Bhavesh Parshottambhai MORADIYA |
Flat F, 11/F., Block B, Hilton Towers, 96 Granville Road, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry
dated 07-06-2014)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
The subject was incorporated on 7th June, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1306, 13/F., Hart Avenue Plaza,
5‑9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address in June 2014.
The subject increased its issued share capital to HK$3.5 million on 4th
June, 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Supplier,
Importer and Exporter.
Lines: Diamond,
jewellery, etc.
Employees: 5.
Commodities Imported: India, Belgium,
other European countries, etc.
Markets: China, Hong Kong, Japan,
Southeast Asia, Taiwan, North America and other Asian Countries.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$3,500,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Business
is profitable.
Condition: Business is
normal.
Facilities: Making active
use of general banking facilities.
Payment: Good.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
DBS Bank (Hong
Kong) Ltd., Hong Kong.
Standing: Normal.
Great Diam (HK) Ltd. [GDHK] was incorporated in Hong Kong on 7th June,
2006 as a private limited liability company.
With a nominal and issued share capital of HK$3.5 million, the subject
was solely owned by Mr. Bhavesh Parshottambhai Moradiya who is an India
merchant.
On 15th July, 2011, Mr. Moradiya sold 70% of his interests on GDHK to
Mr. Ashish Damjibhai Donda.
However, the 70% stake had transferred back to Mr. Moradiya on 12th
August, 2011.
Mr. Moradiya formerly resided in Gujarat, India. He has obtained a Hong Kong Identity Card and
now has become a legal Hong Kong citizen.
GDHK is a Hong Kong-based company originally established in 1995. It is a family-run business that is known for
over a decade in the international diamond and jewellery industry.
GDHK is a supplier, importer and exporter of a versatile range of
diamonds in a wide variety like rose cut diamonds, round cut heart, rose cut
round, rose cut pears, rose cut oval, rose cut marquise, fancy cut and fancy
colour diamonds, pear cut, oval cut, heart cut, radiant shape, cushion shape,
marquise cut, old mine cut, brilliant cut, etc.
GDHK has a wide variety of diamonds certified by genuine institutes like
GIA and IGI.
GDHK is also significant for its diamond earrings.
GDHK imports the diamonds from its main supply units at India and
exports the same in various world markets including Hong Kong, China, Japan,
Southeast Asia, Taiwan, North America, and other Asian countries.
In addition, GDHK also maintains an affiliated company in Bangkok,
Thailand.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it took part in
“HKTDC Hong Kong International Diamond, Gem & Pearl Show 2015” which had
been held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of
2nd to 6th March, 2015. Its booth No.
was AWE 2-O22.
The business of GDHK is kept in a normal manner. No derogatory information about the subject
has been heard.
The Managing Director, Mr. Moradiya has had good experience in this line
of business for many years. He
undertakes the daily management of the company.
The history of GDHK is over eight years and nine months.
On the whole, consider it good for normal business engagements.
Property information of the company:-
Property Location: Flat F,
11/F., 96 Granville Road, Kowloon, Hong Kong.
Owner: Great Diam (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
30-09-2011 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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Date |
Description of Instrument |
Mortgagee |
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11-10-2013 |
Mortgage |
DBS Bank (Hong Kong) Ltd., Hong Kong. |
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09-06-2014 |
Mortgage |
DBS Bank (Hong Kong) Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.69 |
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|
1 |
Rs. 92.99 |
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Euro |
1 |
Rs. 66.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.