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Report No. : |
351304 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GEMDIAM |
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Registered Office : |
Flat B, 14/F., Hody Commercial Building, 6-6A Hart Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.07.2001 |
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Com. Reg. No.: |
31914929-000-07 |
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Legal Form : |
Partnership |
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LINE OF BUSINESS : |
IMPORTER
AND EXPORTER OF ALL KINDS OF DIAMONDS AND JEWELLERY
PRODUCTS, EMERALD, PRECIOUS STONES |
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No. of Employee : |
4. (Including affiliates) |
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 : |
Small company |
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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 – 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 |
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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 12.5% 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 |
GEMDIAM
ADDRESS: Flat B, 14/F., Hody
Commercial Building, 6-6A Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2375
0093, 2370 0030
FAX: 852-2730 2300
E-MAIL: info@pgjpr.com, arun@pgjpr.com
MANAGEMENT:
Manager: Mr. Arun Jain
Establishment: 11th July, 2001.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Annual Turnover: HK$50~90 million.
Employees: 4. (Including affiliates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat B, 14/F., Hody Commercial Building, 6-6A Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated/Affiliated
Companies:-
Aarya Creation, Hong Kong. (Same
address)
Gehna Collections, India.
Gemstar, India.
Green Gems Japan Co. Ltd., Japan.
Green Gems, Hong Kong. (Same
address)
Napra Gems BVBA, Belgium.
Paras Gottam & Co., India.
31914929-000-07
Manager: Mr. Arun Jain
Name: Mr. Arun JAIN
Residential Address: Flat F,
12/F., Hilton Tower, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Geb. Shah Sweta JAIN
Residential Address: 8 Bardia
Colony M D Road, Jaipur-4, India.
Name: Mr. Sweta JAIN
Residential Address: Flat F,
12/F., Hilton Tower, 96 Granville Road, Tsimshatsui East, Kowloon, Hong Kong.
The subject was established on 11th July, 2001 as a partnership concern
jointly owned by Mr. Manish Sacheti and Mr. Arun Jain under the Hong Kong
Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Mr. Manish Sacheti |
11-07-2001 |
01-04-2012 |
|
Mr. Arun Jain |
11-07-2001 |
--- |
|
Mr. Geb. Shah Sweta Jain |
01-06-2002 |
--- |
|
Mr. Sweta Jain |
01-04-2012 |
--- |
Initially the subject was located at Flat B, 8/F., Houng Sun Building,
45‑47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to
Room 1701, 17/F., Hart Avenue Plaza, 5-9 Hart Avenue Road, Tsimshatsui,
Kowloon, Hong Kong in March 2002, and further moved to the present address in
October 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and
Exporter.
Lines: All kinds of
diamonds and jewellery products, emerald, precious stones
Employees: 4. (Including affiliate)
Commodities Imported: India,
Belgium, other European countries, US
Markets: Japan, India, other
Asian countries
Annual Turnover: HK$50~90
million..
Terms/Sales: COD, L/C, T/T
Terms/Buying: L/C, T/T, D/P
Capital: Not disclosed.
Profit or Loss: Making a profit
every year.
Condition: Keeping in an active
state.
Facilities: Making rather
active use of general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Gemdiam is a partnership jointly owned by three Indian, namely, Mr. Arun
Jain, Mr. Geb. Shah Sweta Jain and Mr. Sweta Jain. The third joined in as a partner on 1st
April, 2012. Sweta Jain and Arun Jain
are Hong Kong ID Card holders and have got the right to reside in Hong Kong
permanently
.
Business commenced in July 2001, the subject is a diamond and jewellery
product trader. Commodities such as
polished and cut diamonds are imported from India, Belgium and other European
countries, etc. Some of the finished
products and polished diamonds are marketed in Hong Kong, China, exported
or re‑exported to Japan, India and the other Asian countries, the Middle
East, Europe. Business has been rather
active.
The subject has got a number of regular suppliers in India. The following two India companies are the
subject’s main associated companies:
Paras Gottam & Co.; &
Gehna Collection’s.
These two companies are the main suppliers of the subject in India.
The subject’s business has become active since March 2002, the month and
year when it moved to a commercial building in Tsimshatsui, Kowloon,
Hong Kong.
The subject shares the operating office with another two firms, namely,
Green Gems and Aarya Creations, both are Hong Kong-registered companies. Aarya Creations offers precious stones
studded 18K gold jewellery products.
In 2013, the subject took part in 2013 Shanghai International Jewellery
& Ornaments Exhibition which was held in Shanghai, China. It will take part in the same exhibition in
2016.
The annual sales turnover of the subject and its associate ranges from
HK$50 to 90 million. Business is chiefly
handled by Sweta Jain and Arun Jain themselves.
On the whole, as the history of the subject in Hong Kong is over
fourteen years, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
|
HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
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Report Prepared
by : |
ANK |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.