MIRA INFORM REPORT
|
Report No. : |
343801 |
|
Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KIL INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
Rm 1502 15/F Rise Commercial Bldg., Tsim Sha Tsui, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
04.07.2011 |
|
|
|
|
Com. Reg. No.: |
58601909 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
TRADING OF DIAMONDS AND JEWELRY. |
|
|
|
|
No. of Employees : |
Not Available |
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 |
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|
|
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Payment Behaviour : |
Unknown |
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|
|
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 |
Contact
Points
|
Company Name: |
KIL International Limited |
|
Supplied Name: |
KIL INTERNATIONAL LIMITED |
|
Trading Address: |
Rm 1502 15/F Rise Commercial Bldg., Tsim Sha Tsui, Kowloon, Hong Kong |
|
Supplied Address: |
ROOM #1502, 15TH FLOOR, RISE COMMERCIAL BUILDING, 5-11, GRANVILLE
CIRCUIT, T.S.T. KOWLOON HONGKONG |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm 1502 15/F Rise Commercial Bldg., Tsim
Sha Tsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2722-4144/6490-2700 |
|
Fax Number: |
+852-2722-4155 |
|
Date of Registration: |
2011-7-4 |
|
Registered Number: |
1625216 |
|
Business Registration No.: |
58601909 |
|
Paid-up Capital: |
HKD 32,000,000 (USD 1,024,000) = 32,000,000
Shares @ HKD 1 (As of 2015.04, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
89731--Articles of jewellery and parts thereof,
of precious metals or metals clad with precious metals (g) |
|
Principal Activities: |
Trading of diamonds and jewelry. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-7-4 |
Notes: Subject declined to
disclose the number of staff, and from other source we cannot obtain the
information, either.
History
Subject was incorporated on 2011-7-4 with the
registered number 1625216 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Kanani Industries Limited |
32,000,000 |
100% |
|
Total |
32,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Kanani Industries Limited |
|
Address: |
G-6, Prasad Chambers, Tat Rd., No. 2, Opera
House, Mumbai 400004, Maharashtra, India |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Kanani Harshil Premji |
|
Address: |
Flat No. 104, 9th Floor, Navyug
Nagar No. 1, Forjet Hill Opp. Bhatia Hosp Tradeo Mumbai, India |
|
Position: |
Director |
|
Passport Number: |
G8318867 |
|
Issuing Country: |
India |
|
2 |
|
|
Name: |
Champion Corporate Limited |
|
Address: |
Unit 907, 9F, Silvercord Tower 2, 30 Canton
Rd., Tsim Sha Tsui, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
657221 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Rm 1502 15/F Rise Commercial Bldg., Tsim Sha
Tsui, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Unit No.2 On 15th Floor Rise Commercial Building
Nos.5-11 Granville Circuit Kowloon |
|
Owners: |
CHAN CHING YIN YIP YIK SHING |
|
Memorial Number: |
UB5159262 |
|
Date of Instrument: |
1991-10-31 |
|
Date of Registration: |
1992-1-24 |
|
Consideration Value: |
HKD 500,000.00 |
History of Premises
Owners’
|
1 |
|
|
Memorial No.: |
UB2215680 |
|
Date of Instrument: |
1982-1-18 |
|
Date of Registration: |
1982-2-22 |
|
Nature: |
Deed Of Mutual Covenant |
|
2 |
|
|
Memorial No.: |
UB2132558 |
|
Date of Instrument: |
1981-6-17 |
|
Date of Registration: |
1981-9-4 |
|
Nature: |
Agreement For Sale And Purchase With Plan |
|
In Favor of: |
Shum Chung Wai |
|
Consideration: |
HKD 143,000.00 |
Production
Information
· Subject is engaged in trading of diamonds and jewelry, etc. without any production activities.
· It is introduced that subject’s parent company has a factory in India for production.
Purchase
Information
· Subject mainly purchases products from its related factory in India.
Sales Information
· Subject is engaged in sale of diamonds and jewelry.
· The major products of the subject are loose diamonds, polished diamonds, watches, finger rings, necklaces, other studded jewelry, etc.
· It is introduced that subject’s products has the brand of KANANI.
· Subject’s sales regions include domestic market, Asian Countries, South America, North America.
· It is introduced that subject’s major customers are manufacturers of jewelry and jewelry shops.
Settlements
PURCHASE
Domestic Purchase
Subject has little domestic purchase.
Import (India)
|
Products |
Diamonds and jewelry |
|
Payment Terms |
L/C, T/T |
SALES
Domestic Markets
|
Product |
Diamonds and jewelry |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Diamonds and jewelry |
|
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; from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
|
Company Name: |
KIL International Limited ("the
Company”) |
|
Instrument of Creating Mortgage: |
Charge on Cash Deposit(s) to secure
Liabilities of the Depositor(s) ("Charge") |
|
Date of Creating Mortgage: |
2014-1-29 |
|
Amount Secured: |
All sums of money and liabilities whether
actual or contingent, as at the date of the Charge or in the future owing or
incurred to the Bank on any account whatsoever by the Company whether as
principal or surety and whether from the Company solely or from the Company
jointly with any other person or persons or from any firm in which the
Company may be a partner and in whatever style, name or form, and including
(without limitation): (i) the
amount of (01) any loans, acceptances or other credits or advances made to or
for the accommodation or at the request of the Company, (02) any notes or
bills, made, accepted, endorsed, discounted or paid by the Bank, (03) any
liability under guarantees, indemnities, foreign exchange contracts (spot,
forward or otherwise), documentary or other credits or any other instruments
whatsoever assumed or given or entered into by the Bank for or at the request
of the Company and (04) any liability under all hire purchase agreements and
financial, equipment, motor vehicle and other leases entered into between the
Bank and the Company; and (ii) (01)
interest to the date of payment (notwithstanding any demand, judgment, death,
dissolution, insolvency or other incapacity of the Company or any other
person) at such rates and upon such terms as may from time to time be payable，(02) all commissions, discounts, fees and other charges payable to the
Bank and (03) all sums, disbursements and other expenses paid or incurred by the
Bank, in relation to the Bank's provision of banking or credit facilities or
other financial accommodation (including, without limitation, pursuant to
hire purchase agreements and financial, equipment, motor vehicle and other
leases) to the Company, the implementation of the provisions of, or exercise
of rights under, the Charge or the perfection or enforcement (or attempted
perfection or enforcement) of the security or any other guarantees or
encumbrances for any indebtedness of the Company to the Bank, including all
reasonable legal costs and all other costs and expenses and any exchange
control premiums, penalties or expenditure on a full indemnity basis
(collectively ''Liabilities"). |
|
Name of Mortgagee: |
DBS Bank (Hong Kong) Limited
("Bank") |
|
Address of Mortgagee: |
11th Floor, The Center, 99 Queen's Road
Central, Hong Kong |
|
Description of Property Mortgaged: |
Description of Property Mortgaged or Charged (1) By
wav of first fixed charge and agreement to charge : the Deposit and all right, title and
interest of the Company whatsoever, present and future, thereto and therein,
together with any certificates of deposit or other instruments or securities
evidencing title, or otherwise relating, thereto and any account to which the
same is credited (Clause 3 of the Charge). (2) By
wav of set-off: any sum standing to the credit of any one or
more of the accounts of the Company with the Bank (whether current, deposit,
loan or of any other nature whatsoever and whether subject to notice or not
and whether such sum or sums is/are unmatured deposits and including, without
limitation, the account to which the Deposit is credited) whosesoever situate
(Clause 5.5 of the Charge). |
Lawsuits
Up to now, no present or latent litigation of the
subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Department: |
Sales Department |
Industry
Information
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
21,838 |
246,702 |
3,962,363 |
4,148,848 |
|
2,852 |
895 |
34,083 |
13,753 |
|
|
Australia |
9,712 |
7,184 |
334,232 |
164,960 |
|
Belgium |
4,303 |
25,109 |
49,956 |
61,107 |
|
France |
71,446 |
124,469 |
1,667,663 |
2,809,557 |
|
Canada |
39,173 |
27,371 |
453,948 |
170,678 |
|
Switzerland |
637,297 |
753,445 |
4,386,528 |
13,359,634 |
|
The Mainland of China |
17,339,344 |
3,031,144 |
215,489,594 |
40,326,586 |
|
Exports |
||||
|
United Arab Emirates |
47,741 |
53,599 |
578,786 |
454,913 |
|
229 |
175 |
6,429 |
10,169 |
|
|
Australia |
14,749 |
15,969 |
368,777 |
163,057 |
|
Belgium |
853 |
770 |
35,567 |
21,710 |
|
Brazil |
4,205 |
1,694 |
10,882 |
7,386 |
|
Canada |
10,035 |
2,940 |
85,987 |
35,619 |
|
Switzerland |
5,218 |
22,583 |
288,903 |
861,464 |
|
The Mainland of China |
131,662 |
11,710 |
3,222,761 |
238,194 |
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: Rm 1502 15/F Rise Commercial Bldg., Tsim Sha Tsui, Kowloon,
Hong Kong
Rise Commercial Bldg., Tsim Sha Tsui, Kowloon, Hong Kong
15/F Rise Commercial Bldg., Tsim Sha Tsui, Kowloon, Hong Kong
Rm 1502 15/F Rise Commercial Bldg., Tsim Sha Tsui, Kowloon, Hong Kong
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.