MIRA INFORM REPORT

 

 

Report No. :

350212

Report Date :

20.11.2015

 

IDENTIFICATION DETAILS

 

Name :

KIRAN EXPORTS (HONG KONG) LIMITED

 

 

Registered Office :

Unit 607-608, 6/F., Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

12.11.2003

 

 

Com. Reg. No.:

34110655

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading of Diamonds.

 

 

No. of Employees :

About 10

 

 

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 :

Exist

 

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

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 12.5% 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:

KIRAN EXPORTS (HONG KONG) LIMITED

Supplied Name:

KIRAN EXPORTS (HK) LTD

Trading Address:

Unit 607-608, 6/F, Hider Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

Supplied Address:

Room 607-608 6/F Hilder Centre 2 Sung Ping Street Hung Hom Kowloon

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

Kiran Exports (Hong Kong) Limited

Registered Address:

Unit 607-608, 6/F., Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

Telephone Number:

+852-2366-2488

Fax Number:

+852-2739-8288

E-mail:

infohk@kirangems.com

Date of Registration:

2003-11-12

Registered Number:

870142

Business Registration No.:

34110655

Paid-up Capital:

HKD 92,540,000 (USD 11,937,660)

(As of 2015.11, 1 HKD = 0.129 USD)

Paid-up Capital:

HKD 92,540,000 (USD 11,937,660)= 9,254,000 Shares @ HKD 10

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.

Staff:

About 10 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-11-12

 

 

History

 

Subject was incorporated on 2003-11-12 with the registered number 870142 as Private Limited Liability Company in Hong Kong.

 

 

Corporate Structure

 

Related Companies

1

Name:

Kiran Gems Pvt. Ltd.

Address:

FE5011, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra (E),

Mumbai - 400 051. India.

Tel:

+91 22 4050 4444

Fax:

+91 22 4050 4455

E-mail:

info@kirangems.com

2

Name:

Kiran Exports B.V.B.A.

Address:

30 - Hoveniersstraat, Office 450, Box 246, 2018 Antwerp, Belgium.

Tel:

+323 225 3604

Fax:

+323 225 3605

E-mail:

infobvba@kirangems.com

3

Name:

Kiran Gems (Shanghai) Ltd.

Address:

Room B317, China Diamond Trading Center, 1701 Century Avenue, Pu Dong New Area, Shanghai - 200122. China.

Tel:

+86 755 2295 1161

Fax:

+852 2739 8288

E-mail:

china@kirangems.com

4

Name:

Kiran Jewels Inc.

Address:

529, Fifth Avenue, 17th Floor, New York, N.Y. 10017. USA.

Tel:

+1 212 819 0215

Fax:

+1 212 819 0443

E-mail:

infousa@kiranjewels.com

5

Name:

Kiran Jewels LLC.

Address:

P.O. Box 49946, 202, Gold Land Building, 2nd Floor, Gold Souk, Deira, Dubai, U.A.E.

Tel:

+971 4235 2982

Fax:

+971 4235 2983

E-mail:

ashish.lakhani@kiranjewels.com

 

 

Shareholders

 

Name

Subscription Shares

Proportion of Investment (%)

Gautam Bhikhabhai Gopani

5,000

0.05%

Kiranmani Diamonds Private Limited

30,000

0.33%

Vimal Labhubhai Lakhani

15,000

0.16%

Ashish Babulal Lakhani

9,204,000

99.46%

Total

9,254,000

100%

 

Major Shareholders’ Information:

1

 

Name:

Gautam Bhikhabhai Gopani

Address:

Flat B, 8/F., Tower 6, Laguna Verde Avenue, No.8 Tai Wan Road East, Hung Hom, Kowloon, Hong Kong

2

 

Name:

Kiranmani Diamonds Private Limited

Address:

109, Prasad Chambers Opera House, Mumnai – 400 004, India

3

 

Name:

Vimal Labhubhai Lakhani

Address:

30 – Hoveniersstraat, Office 152, Box – 246, 2018, Antwerpen, Belgium

4

 

Name:

Ashish Babulal Lakhani

Address:

Plot # 369Vijay Raj Nagar, STREET-5 Bhavnagar, Gujarat, India

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

1

Name:

Gopani Gautam Bhikhabhai

Address:

Flat B, 8/F., Tower 6, Laguna Verde Avenue, No.8 Tai Wan Road East, Hung Hom, Kowloon, Hong Kong 

Position:

Director

Passport Number:

Z2158210

Issuing Country:

India

2

Name:

Gopani Ami Gautam

Address:

Flat B, 8/F., Tower 6, Laguna Verde Avenue, No.8 Tai Wan Road East, Hung Hom, Kowloon, Hong Kong 

Position:

Director

ID Number:

R444525(1)

3

Name:

Champion Corporate Limited

Address:

Unit 907, 9/F., Silvercord Tower 2, 30 Canton Road, Tsim Sha Tsui, Kowloon ,Hong Kong

Position:

Corporate Secretary

Registered Number:

6577221

 

Personnel Structure

 

Total Employees

About 10 Employees

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

Unit 607-608, 6/F, Hider Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

 

Premises Information

 

Office address:

Address:

Workshop Unit No.07 on 6th Floor, Hilder Centre, No.2 Sung Ping Street, Kowloon

Owners:

Kiran Exports (Hong Kong) Limited

Memorial Number:

11122100320013

Date of Instrument:

2011-11-30

Date of Registration:

2011-12-21

Consideration Value:

HKD 26,625,000.00 (PT.)

 

History of Premises Owners’

 

1

Memorial No.:

15011502180386

Date of Instrument:

2013-12-16

Date of Registration:

2015-01-15

Nature:

Mortgage

In Favor of:

The Hong Kong and Shanghai Banking Corporation Limited

Consideration:

All monies (PT.)

2

Memorial No.:

11090700240038

Date of Instrument:

2011-09-01

Date of Registration:

2011-09-07

Nature:

Agreement For Sale And Purchase

In Favor of:

Kiran Exports (Hong Kong) Limited

Consideration:

HKD 27,500,000.00 (PT.)

3

Memorial No.:

11081900310021

Date of Instrument:

2011-07-26

Date of Registration:

2011-08-19

Nature:

Preliminary Sale And Purchase Agreement

In Favor of:

Kiran Exports (Hong Kong) Limited

Consideration:

HKD 27,500,000.00 (PT.)

Note: (PT.) means “part of”.

 

Production Information

 

Subject is a trader of diamond, etc. without any production activities.

It is introduced that subject’s group company has factories in India for production.

 

Purchase Information

 

The products of subject are mainly purchased from its group company in India.

 

Sales Information

 

Subject is engaged in sales of diamonds.

The major products are loose diamond parcels, polished diamond, and GIA certificated diamond.

Subject’s sales regions include domestic market, Southeast Asia, America and Europe.

Subject’s major customers are manufacturers and designers of jewelry and watch.

 

 

Settlements

 

Purchase

 

Domestic Purchase

 

Subject has little domestic purchase.

 

Import

Products

Diamonds

Payment Terms

L/C, T/T

 

Sales

 

Domestic Markets

Product

Diamonds

Selling Terms

T/T, Cash

 

Export

Product

Diamonds

Selling Terms

L/C, T/T

 

 

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, and from other sources we could not obtain such information, either.

 

Bankers

 

Name:

Standard Chartered Bank

 

 

Public

 

Civil Litigation

 

1

Date:

2014-11-01

Court Name:

High Court Civil Action

Court No.:

2201

Claimant:

Green Island Cement Co Ltd

c/o

Chu & Lau

(a firm)

(HCA)

Defendant:

Kiran Exports (Hong Kong) Ltd

c/o

Unit 607-608, 6/F,

Hilder Centre,

No.2 Sung Ping Street,

Kln, HK

Reason:

Land

Amount(HKD):

--

2

Date:

2010-09-13

Court Name:

District Court Civil Action

Court No.:

3158

Claimant:

Kiran Exports (Hong Kong) Ltd

c/o

Room 905, 9/F,

Hilder Centre,

2 Sung Ping Street,

Hung Hom, Kln

c/o

Tsang, Chan & Woo

(a firm)

Defendant:

Draco Int'l Jewelry Mfg. Co Ltd

OR

Draco International Jewelry Manufacturing Co Ltd

c/o

Unit 1, 14/F,

Royal Commercial Centre,

56 Parkes Street,

Jordan, Kln

Reason:

Good Sold & Delivered

Amount(HKD):

USD 95,434.90

 

Mortgage Record

 

1

Company Name:

Kiran Exports (Hong Kong) Limited

Instrument of Creating Mortgage:

Mortgage

Date of Creating Mortgage:

2013-04-16

Amount Secured:

All principal, interest and other amounts from time to time owing by the mortgagor (whether individually or jointly or jointly and severally) to the lender on any current and/or other account and all other liabilities whatsoever of the mortgagor to the lender whether joint, several, present, future, actual and/or contingent.

Name of Mortgagee:

Industrial And Commercial Bank Of China (Asia) Limited

Address of Mortgagee:

33rd Floor, ICBC Tower, 3 Garden Road, Central, Hong Kong

Description of Property Mortgaged:

All those 21/1,148th parts or shares of and in Section B Of Kowloon Marine Lot No. 113 (Workshop Unit Nos. 7 and 8 on 8th Floor Of Hider Centre, No. 2 Sung Ping Street, Kowloon)

All those 43/534,325th parts or shares of and in Kowloon Inland Lot No. 11056 (Flat F on 29th Floor of Tower16 of Laguna Grande (Phase IV A) Laguna Verde, No. 8 Laguna Verde Avenue, Kowloon)

2

Company Name:

Kiran Exports (Hong Kong) Limited

Instrument of Creating Mortgage:

Debenture

Date of Creating Mortgage:

2012-05-30

Amount Secured:

“Secured Indebtedness” means all monies, obligations and liabilities now or at any time hereafter due, owing or incurred to the bank or any other secured party by the borrower (and if there is more than one person comprised in the expression jointly) whether on any banking or other account or otherwise in whatever manner and whether actual or contingent and in whatever on any banking or otherwise in whatever manner and whether actual or contingent and in whatever currency and whether solely or jointly (except where there is more than one person comprised in expression “borrower”, in which case the monies, obligations and liabilities must be must be owing or incurred by those person jointly) and in whatever bane, style or form and whether as principal debtor or as surety and whether principal, interest, fees or otherwise together with interest on all such monies at such rates as shall from time to time be charged by the bank or such secured party and all fees, commission and other costs, charges and expenses (including legal and other fees on a full basis) incurred by the bank or any other secured party and all fees, commissions and other costs, charges and expenses (including legal and other fees on a full indemnity basis) incurred by the bank or any other secured party in relation to the borrower (and if there is more than one person comprised in expression “borrower”, then only fees, commissions and other costs charges and expenses incurred in relation to such persons jointly) and all other monies hereby secured.

Name of Mortgagee:

Standard Chartered Bank (Hong Kong) (the “bank”) (as lender and as trustee for itself and each SCB Group Company (as defined herein) to which any moneys and/or obligations and/or liabilities secured by this debenture are owed from time to time (hereafter referred to as the “lender”)

Address of Mortgagee:

a banking corporation incorporated under the laws of Hong Kong whose registered office is situated at 32nd Floor, Standard Chartered Bank Building, Nos. 4-4A Des Voeux Road Central, Hong Kong

3

Company Name:

Kiran Exports (Hong Kong) Limited

Instrument of Creating Mortgage:

Debenture constituting a fixed and/or floating charge over all assets of the company (the “Debenture”)

Date of Creating Mortgage:

2010-09-29

Amount Secured:

All monies and liabilities in any currency due owing or incurred by the company to The Hong Kong And Shanghai Banking Corporation Limited (“the bank”) at ant tine whether alone or jointly with any other person, whether actually or contingently, whether at the date of the Debenture or in future, or in any capacity including as principal or surety, interest on such monies and liabilities (both before and after demand or judgment) to the date on which the bank receives payment at the rated payable by the company or which would have been payable but for any circumstance which restricts payment and expenses of the company or which would have been payable but for any circumstance which restricts payment and expenses of the bank in enforcing the Debenture (the “monies and liabilities”)

Name of Mortgagee:

The Hong Kong And Shanghai Banking Corporation Limited     

Address of Mortgagee:

Head Office, No. 1 Queen’s Road Central, Hong Kong

4

Company Name:

Kiran Exports (Hong Kong) Limited

Instrument of Creating Mortgage:

Debenture (“the Debenture”)

Date of Creating Mortgage:

2008-04-16

Amount Secured:

All money and the discharge of all obligations and liabilities

Name of Mortgagee:

Antwerpse Diamantbank NV also known as Antwerp Diamon Bank NV (“the bank”)

Address of Mortgagee:

54, Pelikaanstraat, B-2018 Antwerpen 1, Belgium (through its Hong Kong Representative Office of Room 3509A, Edinburgh Tower, the Landmark, 15 Queen’s Road Central, Hong Kong)

 

 

Special Note

 

Interview Details

Department:

Sales Department

 

 

Industry Information

 

66729--Diamonds, non-industrial, otherwise worked, but not mounted or set (cm)

 

Unit: HKD/000

 

2015.06

2015.01~2015.06

 

Quantity

Value

Quantity

Value

Imports

United Arab Emirates

99,460

905,159

647,153

5,464,977

Switzerland

6,409

199,072

48,333

1,399,228

Israel

53,917

1,623,498

304,676

9,093,356

USA

282,887

1,883,967

993,454

6,852,878

Belgium

110,151

1,638,056

561,647

8,625,638

Thailand

99,160

492,720

388,041

1,822,712

Japan

56,719

371,240

236,575

1,664,163

Italy

3,244

20,309

13,350

96,012

India

955,874

5,467,092

5,645,538

30,408,178

The Mainland of China

105,388

880,886

559,342

4,632,952

Exports

United Arab Emirates

88,055

792,393

637,402

5,288,342

India

263,998

1,825,623

1,829,493

10,136,195

America

110,964

1,103,321

708,067

6,949,687

Japan

20,684

146,991

139,735

1,039,637

Thailand

93,610

421,965

493,269

1,816,612

Belgium

107,387

1,236,704

577,229

6,950,409

The Mainland of China

256,037

1,335,949

1,563,439

8,246,408

 

 

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

 

Address: Room 607-608, 6/F, Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

 

Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

 

IMG_1
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


6/F, Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

 

IMG_5
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Room 607-608, 6/F, Hilder Centre, 2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong

 

说明: IMG_4
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.11

UK Pound

1

Rs.101.03

Euro

1

Rs.70.77

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

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.