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Report No. : |
323071 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DALUMI HONG KONG LTD. |
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Registered Office : |
22/F., Euro Trade Centre, 21-23 Des Voeux Road |
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Country : |
Hong Kong
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Date of Incorporation : |
17.01.1997 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
WHOLESALER AND EXPORTER OF ALL KINDS OF DIAMOND AND JEWELLERY. |
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No. of Employees : |
28 |
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) |
|
Hong Kong |
A1 |
A1 |
|
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 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 |
DALUMI HONG KONG
LTD.
ADDRESS: 22/F., Euro Trade
Centre, 21-23 Des Voeux Road, Hong Kong.
PHONE: 852-2522
9050, 2522 9948
FAX: 852-2522
3450, 2840 0298
E-MAIL: dalumi@dalumi.com.hk
addy@dalumi.com
hk@dalumi.com
MANAGEMENT:
Managing Director: Mr. Jacoy
Itzchaki
Incorporated on: 17th January, 1997.
Organization: Private Limited
Company.
Issued Share Capital: HK$100.00
Business Category: Diamond
and Jewellery Trader.
Employees: 28.
Main Dealing Banker: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
DALUMI HONG KONG
LTD.
Registered Head
Office:-
22/F., Euro Trade Centre, 21-23 Des Voeux Road, Hong Kong.
Holding Company:-
Cool Ice Ltd., Macau.
Subsidiary
Company:-
2DDD Ltd., Hong Kong.
Associated
Companies:-
A. Dalumi Diamond Group of Companies
A. Dalumi Diamond Ltd., Israel.
Dalumi (Shanghai) Diamond Co. Ltd., China.
Dalumi Botswana (Pty) Ltd., Botswana.
Dalumi Diamond Corp, U.S.A.
Dalumi Diamond India Pvt. Ltd., India.
Dalumi Europe BVBA, Belgium.
Dalumi Jewellery Inc., U.S.A.
Dalumi Jewellery Manufacturers Ltd., Hong Kong.
Dalumi Spain, Spain.
590907
Managing Director: Mr. Jacoy
Itzchaki
General Manager: Mr. Kobi
Itzchaki
Contact Person: Ms. Sherman Chan
HK$100.00
(As per registry dated 17-01-2015)
|
Name |
|
No. of shares |
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Cool Ice Ltd. Av. Praia Grande, No. 369, Keng Ou Commercial Building, 18th Floor B,
Macau. |
|
100 |
(As per registry dated 17-01-2015)
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Name (Nationality) |
Address |
|
Jacov ITZCHAKI |
4A, 38 Peninsula Village, Discovery Bay, Lantau Island, Hong Kong. |
|
Vered DALUMI ITZCHAKI |
4A, 38 Peninsula Village, Discovery Bay, Lantau Island, Hong Kong. |
Jacov ITZCHAKI (As per registry dated 17-01-2015)
The subject was incorporated on 17th January, 1997 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was originally registered under the name of Trump Crystal Ltd., name
changed to the present style on 4th June, 1997.
Formerly the subject was located at Room 1507-1510, 15/F., Lane Crawford
House, 70 Queen’s Road Central, Hong Kong, moved to the present address in
October 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Wholesaler and Exporter.
Lines: All
kinds of diamond and jewellery.
Brand Names: Swana Diamond, Golden Diamond.
Employees: 28.
Commodities Imported: Mainly
imported from Israel, Italy and other European countries.
Markets: Hong
Kong, China, Japan and other Asian countries.
Terms/Sales: Various terms.
Terms/Buying: L/C, T/T.
MEMBERSHIP: Hong Kong Jewelry
Manufacturers’ Association, Hong Kong.
Hong Kong Jewellery & Jade Manufacturers
Association, Hong Kong.
[Membership No.: 319]
Issued Share Capital: HK$100.00
Mortgage or Charge:-
Date of Charge Over Deposits - CD 2 (05): 02-06-2006
Amount: To secure the
payment or discharge of all moneys, obligations and liabilities, whether actual
or contingent at the date of the charge or at any time after the date thereof,
due, owing or incurred by Dalumi Hong Kong Ltd. and/or Dalumi Jewellery
Manufacturers Ltd.
Property: 1) By fixed Charge: all the Company’s rights in respect of (i)
the sum deposited by the Company; and (ii) all other sums in any currency from
time to time standing to the credit of the Company or the credit of any other
person for the Company’s benefit whether alone or jointly with others, on any
deposit account with the Bank or any other SCB Group Company including
additions to or renewals or replacements of such sum; and all interest from
time to time accruing or payable on the sums specified in (i) and (ii) above;
2) By assignment: all Deposits held with any SCB Group Company
Mortgagee: Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
Profit or Loss: Business is
profitable.
Condition: Keeping in an
active and satisfactory manner.
Facilities: Making active
use of general banking facilities.
Payment: So far so good.
Commercial Morality:
Satisfactory.
Banker: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong.
Standing: Good.
Dalumi Hong Kong Ltd. [Dalumi HK] was formed in
1997 as a member of A. Dalumi Diamond Group
[Group] which has over 40 years of experience in the global diamond
business. The Group is chiefly owned by
the Dalumi family.
Dalumi HK is majority owned and controlled by Mr.
Jacoy Itzchaki who is an Israeli. It is
trading in diamonds and jewellery.
Commodities are mainly imported from Israel, Italy and the other
European countries. Its diamond products
include loose diamond, branded diamond, yellow diamond, round diamond, fancy
shape diamond, etc. Most of the diamonds
bear the brand names of either Swana Diamond or Golden Diamond.
Jewellery products include earring, necklace,
pendant, bracelet, ring, etc. which are sold in Hong Kong, China and also
exported to Japan, the other Asian countries, Europe, North America. Business is active and satisfactory.
The Group was founded in 1960 by Mr. Asher
Dalumi. In 1989, the second generation
of Dalumis joined the Group to expand its business. The Group received “Outstanding Exporter
Award” and “Outstanding Exporter to Japan” award in 1995 and 2001
respectively. In 1996, the Group
recognized as one of the top five manufacturers in Israel. It started to enter the PRC retail market in
2002. In 2003, the Group has set up a
jewellery manufacturing facility in Shenzhen SEZ, China. Its associate, Dalumi Jewellery Inc., was
also set up in New York, the United States.
In 2004, the Group launched the “Tattoo your Diamond” project in Italy.
The Group is run today by the second
generation. It is an international
company with worldwide distribution operation.
It has manufacturing facilities in Botswana, Israel, China and India,
offices around the globe and some 650 professional employees worldwide. Dalumi has been a DTC Sightholder since 1993,
a DTC Botswana Sightholder since 2007.
In 2013, the Group joined the ‘Forevermark
Project’ in the United States with its ‘Golden Diamond Collections’.
The Group is significant for its Diamond
Manufacturing, Jewellery Design & Manufacturing.
Currently the Group has taken part in exhibitions
and shows worldwide including “Baselworld Show” in Basel, Switzerland,
“Shanghai Jewellery Fair” in Shanghai, China, “China International Gold,
Jewellery & Gem Fair” in Guangzhou, China, “Hong Kong Jewellery &
Watch Fair” in Hong Kong.
For instance, it is going to take part in “HKTDC Hong Kong International
Diamond, Gem & Pearl Show 2016” which will be held in Hong Kong
AsiaWorld-Expo, Lantau, Hong Kong during the period of 1st to 5th March,
2016. Its booth No. is AWE 2-K24.
The contact person of the subject Ms. Sherman Chan is the Marketing
Executive of Dalumi HK.
Dalumi HK is fully supported by the Group. Annual sales turnover is very significant.
As the history of Dalumi HK in Hong Kong is over
eighteen years and four months, on the whole, consider it good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.69 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
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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|
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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.