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Report No. : |
324423 |
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Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DIACCENTS EXPORTS LTD. |
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Registered Office : |
Room 1314, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
12.04.2012 |
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Com. Reg. No.: |
59627855 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Diamonds and Jewellery Products. |
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No. of Employees : |
5 [Including Associates] |
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 |
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 |
DIACCENTS EXPORTS
LTD.
ADDRESS: Room 1314, 13/F.,
Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-3110
2222, 2314 4414, 2314 4114
FAX: 852-2314 4444
E-MAIL: dilip@diaccents.com
MANAGEMENT:
Managing Director: Mr. Dilip
Ramniklal Shah
Incorporated on: 12th April, 2012.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Jewellery
and Diamond Trader.
Employees: 5. (Including associates)
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
DIACCENTS EXPORTS LTD.
Registered Head
Office:-
Room 1314, 13/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon,
Hong Kong.
Associated/Affiliated
Companies:-
Aesh Diam., Hong Kong.
Day Shine Ltd., Hong Kong. (Same
address)
Decent Dia & Jew LLC, UAE.
Decent Dia-Jewels Pvt. Ltd., India.
Decents Spain S.L., Spain.
Diaccents Exports (Shanghai) Ltd.,
China.
Diaccents Exports, Hong Kong. (Same address)
Diaccents N.V., Belgium.
Diaccents, Taiwan.
Diamond Link, India.
Nation Apex, China.
RI-Decent Diam, South Africa.
59627855
1727282
Managing Director: Mr. Dilip
Ramniklal Shah (Mobile: 852-9490 4787)
Contact Person: Mr. Sunny Savani
(Mobile: 852-6907 7356)
HK$10,000.00
(As per registry dated 12-04-2015)
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Name |
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No. of shares |
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Dilip Ramniklal SHAH |
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10,000 ===== |
(As per registry dated 12-04-2015)
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Name (Nationality) |
Address |
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Dilip Ramniklal SHAH |
Flat 1314, 13/F., Peninsula Square, 18 Sung On Street, Hunghom,
Kowloon, Hong Kong. |
(As per registry dated 12-04-2015)
|
Name |
Address |
Co. No. |
|
Buttar Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New
Territories, Hong Kong. |
2086550 |
The subject was incorporated on 12th April, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products.
Employees: 5. (Including associates)
Commodities Imported:India, other Asian countries, Europe.
Markets: Hong
Kong, other Asian countries, Middle East, UK, US.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made small
profits in past years.
Condition: Keeping in a
satisfactory condition.
Facilities: Making active use of
general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Diaccents Exports
Ltd. is wholly owned by Mr. Dilip Ramniklal Shah who is an India merchant. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject has had an associated company Diaccents Exports [DE] located
at the same address. DE is a sole
proprietorship set up and owned by Mr. Dilip Ramniklal Shah on 4th October,
1995.
The subject is trading in the following products: Loose Crystal, White,
Offwhite Star Malee & Pointers Up to 0.5, Diamond & Gold Jewellery 14K,
18K, 8K, PT999, Diamond & Pearl Jewellery, Diamond & Colour Stone
Jewellery such as diamond pendants, diamond watches, bracelets, diamond
necklaces.
According to the subject, its products are marketed in Hong Kong,
exported to China, South Korea, Taiwan, Southeast Asia, the Middle East,
etc. Business is active.
The subject has had seven business associates, namely, Decent Dia‑Jewels
Pvt. Ltd. [DDJPL] (India), Decents Spain S.L. (Spain), Diaccents Exports
(Shanghai) Ltd. (China), Nation Apex (China), Diaccents (Taiwan), RI-Decent
Diam (South Africa), and Decent Dia & Jew LLC (Dubai). Day Shine has been one of the associated
firms of Diaccents Exports.
The subject has good reputation in exclusive jewellery designing,
manufacturing, exporting and also catering to the international market in
wholesaling as well as retailing. Its
jewellery designs have found ready markets such as Asian countries, the Middle
East, Hong Kong, the United Kingdom, and the United States. Besides, it has set up three retail showrooms
in Spain.
The subject has had its own workshop and factory. Raw materials used are diamonds, round,
princess, emeralds and also some natural colour diamonds which are made into
rings, pendants, necklaces, ear-rings, sets and brooches in gold and
platinum. The subject has 432 workers in
its workshop which are not in Hong Kong.
Currently, it is exporting 18Kt yellow and white gold diamond studded
jewellery to worldwide countries.
DDJPL was established in 1978 and has become an Export House recognised
by the Government of India. It was
formed by two partners Mr. Chetan Shah and Mrs. Hema Shah. DDJPL is engaged in diamonds manufacturing
and exporting. Now, DDJPL has got sales
offices and production facilities worldwide.
DDJPL usually has got bulk orders through its market associates in Hong
Kong, Barcelona, Spain, South Africa, Dubai and China. At present, DDJPL has over 340 managing
personnel and 6,000 workers. Its
manufacturing facilities provide worldwide customers with different shapes and
sizes of polish diamonds.
Most of the subject’s products are also provided by DDJPL. The subject and its associates are owned by
the Shah family.
The contact person of the subject is Mr. Sunny Savani who is also an
Indian.
Dilip Ramniklal Shah can be reached at his Hong Kong mobile phone number
852-9490 4787
The history of DE is over 19 years and seven months while the history of
the subject is just over three years and a month in Hong Kong, on the
whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.95 |
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|
1 |
Rs.98.64 |
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Euro |
1 |
Rs.69.86 |
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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>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.