MIRA INFORM REPORT
|
Report No. : |
344778 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIMRAN GEMS LIMITED |
|
|
|
|
Registered Office : |
13/F, Soho Tower, 25 Hart Avenue Kowloon Tsim Sha Tsui, Kowloon |
|
|
|
|
Country : |
Hongkong |
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|
|
|
Date of Incorporation : |
04.11.2013 |
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|
|
|
Com. Reg. No.: |
62275089 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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LINE OF BUSINESS : |
TRADING OF DIAMONDS. |
|
|
|
|
No. of Employees : |
About 2 Employees |
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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|
|
|
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) |
|
Hong Kong |
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: |
Simran Gems Limited |
|
Supplied Name: |
Simran Gems Ltd |
|
Trading Address: |
13/F, Soho Tower, 25 Hart Avenue Kowloon Tsim Sha Tsui, Kowloon, Hong
Kong |
|
Supplied Address: |
13/F Soho Tower, 25 Hart Avenue Kowloon Tsim Sha Tsui, Kowloon Tsui |
Note: The exact name
and address are as above.
Credit
Summary
|
Credit Opinion: |
Since the
subject is a newly established company, the future development remains to be
seen. At this stage credits require securities. |
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
13/F, Soho Tower, 25 Hart Avenue Kowloon
Tsim Sha Tsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2301-4211 |
|
Fax Number: |
+852-2366-4500 |
|
Date of Registration: |
2013-11-4 |
|
Registered Number: |
1990421 |
|
Business Registration No.: |
62275089 |
|
Paid-up Capital: |
HKD 1.00 (USD 0.129) = 1.00 Shares@ HKD 1 (As of 2015.6, 1 HKD = 0.129 USD) |
|
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 2 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-4 |
Notes: Subject declined
to disclose the number of staff, and from other source we cannot obtain the information,
either.
History
Subject was incorporated on 2013-11-4 with the
registered number 1990421 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any
subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Rahil Kishor Zaveri |
1.00 |
100% |
|
Total |
1.00 |
100% |
Major Shareholder Information:
|
Name: |
Rahil Kishor Zaveri |
|
Address: |
Flat G, 25F, Block 4, Royal Peninsula, 8
Huang Lai Rd., Hung Hom, Kowloon, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Rahil Kishor Zaveri |
|
Address: |
Flat G, 25F, Block 4, Royal Peninsula, 8
Huang Lai Rd., Hung Hom, Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
M284004(4) |
|
2 |
|
|
Name: |
Ponce Bayani Divino Bautista |
|
Address: |
Unit 324, 3F, Hankow Centre, 5-15 Hankow
Rd., Kowloon, Tsim Sha Tusi, Hong Kong |
|
Position: |
Secretary |
|
ID Number: |
P293411(A) |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
13/F, Soho Tower, 25 Hart Avenue Kowloon Tsim Sha Tsui, Kowloon, Hong
Kong |
Premises
Information
Office address:
|
Address: |
13th Floor Soho Tower No. 25 Hart Avenue
Kowloon |
|
Owners: |
Sheen Peak Limited |
|
Memorial Number: |
13050900810037 Assignment |
|
Date of Instrument: |
2013-4-23 |
|
Date of Registration: |
2013-5-9 |
|
Consideration Value: |
HKD 138,000,000.00 (PT.) |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
14061002300010 |
|
Date of Instrument: |
2014-6-10 |
|
Date of Registration: |
2014-6-10 |
|
Nature: |
Memorandum Of Change Of Name Of
The Building |
|
In Favor of: |
-- |
|
Consideration: |
-- |
|
2 |
|
|
Memorial No.: |
13050900810059 |
|
Date of Instrument: |
2013-4-23 |
|
Date of Registration: |
2013-5-9 |
|
Nature: |
Assignment Of Rentals |
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In Favor of: |
China Construction Bank (Asia)
Corporation Limited |
|
Consideration: |
-- |
|
3 |
|
|
Memorial No.: |
13050900810043 |
|
Date of Instrument: |
2013-4-23 |
|
Date of Registration: |
2013-5-9 |
|
Nature: |
Mortgage |
|
In Favor of: |
China Construction Bank (Asia)
Corporation Limited |
|
Consideration: |
All Moneys (PT.) |
Note: PT. means part of.
Production
Information
· Subject is engaged in trading of diamonds, etc. without any production activities.
Purchase Information
· Subject’s major products are mainly purchased from abroad such as India.
Sales Information
· Subject is engaged in trading of diamonds.
· Subject’s major products include round diamonds, rounds & princess diamonds.
· It is introduced that subject has obtained the certification of GIA.
· It is introduced that subject’s diamonds are with the size of 1 point, 2 points and 30 points.
· Subject’s major customers are manufacturers of watches and jewelry.
Settlements
PURCHASE
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Diamonds |
|
Payment Terms |
L/C, T/T |
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; from
other sources we could not obtain such information, either.
Bankers
|
Name: |
Hang Seng Bank Limited |
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
|
Name |
The Operator |
Industry
Information
66729--Diamonds,
non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
113,655 |
854,839 |
1,452,417 |
10,085,815 |
|
Brazil |
33 |
1,437 |
174 |
5,836 |
|
Australia |
2,033 |
41,188 |
10,332 |
181,710 |
|
Belgium |
81,093 |
1,198,674 |
1,070,230 |
181,710 |
|
Germany |
154 |
614 |
18,279 |
80,845 |
|
Canada |
202 |
1,578 |
7,643 |
104,109 |
|
Switzerland |
5,866 |
161,374 |
56,112 |
1,665,846 |
|
Japan |
36,378 |
286,671 |
497,269 |
3,174,371 |
|
Thailand |
65,194 |
243,239 |
657,318 |
3,002,179 |
|
India |
765,990 |
3,982,962 |
12,544,931 |
64,883,740 |
|
The Mainland of China |
117,833 |
912,624 |
1,337,780 |
10,148,553 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
54 |
4,421 |
|
Israel |
61 |
10,875 |
153 |
38,772 |
|
-- |
-- |
3 |
116 |
|
|
Thailand |
-- |
-- |
422 |
1,865 |
|
USA |
140 |
2,916 |
2,982 |
55,371 |
|
Belgium |
2 |
74 |
463 |
70,594 |
|
Singapore |
-- |
-- |
28 |
4,990 |
|
The Mainland of China |
186 |
496 |
4,894 |
15,396 |
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: 13/F Soho Tower, 25 Hart Avenue Kowloon
Tisim TSA Tsui, Hong Kong
Soho Tower, 25 Hart Avenue Kowloon Tisim TSA
Tsui, Hong Kong
13/F Soho Tower, 25 Hart Avenue Kowloon Tisim
TSA Tsui, Hong Kong
13/F Soho Tower, 25 Hart Avenue Kowloon Tisim
TSA Tsui, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.