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Report No. : |
345018 |
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Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
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Name : |
DIASQUA SOLITAIRE |
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Registered Office : |
Room 401-402, 4/F., Guardforce Centre, 3
Hok Yuen Street East, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.04.2012 |
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Com. Reg. No.: |
30791742-004-03 |
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Legal Form : |
Sole Ownership |
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LINE OF BUSINESS : |
IMPORTER
AND EXPORTER OF ALL KINDS OF DIAMONDS AND JEWELLERY PRODUCTS, GOLD AND SILVER
PRODUCTS, PRECIOUS STONES |
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No. of Employees : |
17 (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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% 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 |
DIASQUA SOLITAIRE
ADDRESS: Room 401-402, 4/F., Guardforce Centre, 3
Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2209 6600, 2723 0237
FAX: 852-2209 6689
E-MAIL: tony@diasqua.net
ashit@diasquasolitaire.com
ashit@diasqua.net
MANAGEMENT:
Manager:
Mr. Nimesh Piyush Mehta
Establishment: 20th
April, 2012.
Organization:
Sole Ownership.
Capital:
Provided by
Sole Owner.
Business Category: Diamond and Watch Trader.
Employees:
17. (Including associates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 401-402, 4/F., Guardforce Centre, 3 Hok
Yuen Street East, Hunghom, Kowloon, Hong Kong.
Operated by:-
Diasqua International Ltd., Hong Kong.
Sister
Companies:-
Diasqua (HK), Hong Kong.
[Established on 20-03-2000 bearing BR No.
30791742-001-03]
Diaglobe (HK), Hong Kong.
[Established on 20-03-2000 bearing BR No.
30791742-002-03]
Diajewel (HK), Hong Kong.
[Established on 17-05-2000 bearing BR No.
30791742-003-03]
Associated
Companies:-
Diasqua Group of Companies
Billion City (H.K.) Ltd., Hong Kong. [Trading as “Diafuego”]
Diafuego, Belgium.
Diaglobe BVBA, Belgium.
Diaglobe Inc., US.
Diamond Dealers HK Ltd., Hong Kong.
Diasqua (Pacific) Pty. Ltd., Australia.
Diasqua (Shanghai) Ltd., China.
Diasqua (Thailand) Co. Ltd., Thailand.
Diasqua Europe BVBA, Belgium.
Diasqua Impex Pte. Ltd., Singapore.
Diasqua Inc., US.
Diasqua India Pvt. Ltd., India.
Diasqua International DMCC, UAE.
Diasqua International Ltd., Taiwan Branch.
Diasqua Middle East LLC, UAE.
Diasqua Nippon Co. Ltd., Japan.
Diasqua Singapore Pte. Ltd., Singapore.
Pretty Jewellery International Ltd., Hong
Kong.
Affiliated
Companies:-
Prism Group of Companies
Anand Enternational, India.
Colo Jewellery Company, Hong Kong.
Prism (USA) Inc, US.
Prism Diamond Co. Ltd., Thailand.
Prism International, India.
Prism Jewellery Company, Hong Kong.
Prismdia Ltd., Hong Kong.
30791742-004-03
Manager:
Mr. Nimesh Piyush Mehta
Contact Person: Mr. Lensy Leung, Mr. Ashit Shah
Diasqua International Ltd., Hong Kong. (See attachment)
The subject was established on 20th April,
2012 as a sole ownership concern owned by Diasqua International Ltd. under the
Hong Kong Business Registration Regulations.
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, gold and silver products, precious
stones,
Employees: 17. (Including associates)
Materials/Commodities: Imported from India, Belgium, Israel, other European countries
Markets: Hong
Kong, Japan, India, other Asian countries, Middle East
Terms/Sales:
COD, CAD, L/C, T/T,
D/P
Terms/Buying:
L/C, T/T, D/P
Capital: Provided
by Sole Owner.
Profit or Loss: Parent makes a small profit every year.
Condition:
Business is
active.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Very Good.
Diasqua Solitaire is operated by Diasqua
International Ltd. [Diasqua Intl] which is a Hong Kong-registered firm located
at the same address. Diasqua Intl is a
Hong Kong-registered company owned by the Mehta family.
Established in April 2012, the subject is a
member of the Diasqua Group. It is
trading in loose diamonds, carat-size diamonds, fancy diamonds, certificated
diamonds, diamond studded gold jewellery, diamond watches.
The subject is a wholesaler of diamonds
ranging from 0.30 to 10 carats certified by GIA and HRD, collection of
‘perfectly matched pair’. It also sells
polished diamonds of all sizes, shapes, colours and clarities.
The subject also trades in ‘Diafuego Diamond
Watches’. Diafuego was established by
Diasqua Group as the Group’s watch manufacturing and marketing arm.
The manager of the subject Mr. Nimesh Piyush
Mehta is an India merchant who is also the principal shareholder of Diasqua
Intl.
In order to penetrate the international
market further, Diasqua Intl has taken part in fairs and exhibitions which are
held in Hong Kong and the other foreign large cities.
Over the past years, Diasqua Intl has taken
part in the following Shows and Fairs:-
US
JCK Las Vegas Show (May)
Europe
Baselworld, Basel, Switzerland (March)
Hong Kong
HK Int’l Jewellery Show (March);
Hong Kong Jewellery & Watch Fair (March);
HKTDC Hong Kong International Diamond, Gem
& Pearl Show;
Hong Kong Jewellery & Gem Fair (June);
&
Hong Kong Jewellery & Gem Fair
(September).
Macau
January Macau Jewellery & Watch Fair;
&
Macau Jewellery & Watch Fair.
The Middle East
Jewellery Arabia, Bahrain (November)
For instance, it is going to take part in
“HKTDC Hong Kong International Diamond, Gem & Pearl Show 2016” which will be
held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 1st to
5th March, 2016.
Incorporated on 20th March, 2000, Diasqua
Intl is wholly-owned by the Mehta family.
Having issued 90 million ordinary shares of HK$1.00 each, Diasqua Intl is
jointly owned by Mr. Nimesh Piyush Mehta, holding 70 million shares
which account for 77.8%; and Mr. Romy Piyush Mehta, holding 20 million shares,
account for 22.2%.
Diasqua Intl has a wide network of
international offices situated in India, Singapore, Thailand, Taiwan, Japan,
Australia, Belgium, the United States, Israel, the United Arab Emirates and
China. The trade names and principal
subsidiaries of Diasqua Intl are the following seven:-
Diafuego;
Diaglobe (HK);
Diajewel (HK);
Diasqua (HK);
Diasqua Solitaire – the subject;
Pretty Jewellery Int’l Ltd.; &
R. T. Diamonds (HK) Ltd.
The directors of Diasqua Intl are the members
of the Mehta family who have been in Hong Kong for a very long time. All are Hong Kong ID holders.
The Diasqua Group is a dedicated member of
the diamond, gems and jewellery industry with strong roots dating back to three
generations. Today its core business
involves in sourcing, distributing and marketing of an extensive range of
polished diamonds.
For more than seventy years, the Group’s
skills and reputation have passed from generation to generation. Over the years, the Group has developed a
strong liaison with its customers, suppliers and business partners.
Now, the global networks of the Diasqua Group
are set up in New York, London, Antwerp, Dubai, Mumbai, Hong Kong, Bangkok,
Taipei, Tokyo, Singapore, Sydney.
The business of the Group keeps on improving
as it has had numerous customers coming from more than fifty countries of the
world.
The Group also sells its products online. Its e-commerce is under development and
improving. It is predicted that its
e-commerce will account for a larger share in its annual sales turnover.
The subject is fully supported by the Diasqua
Group which has a very significant annual sales turnover.
The history of the subject in Hong Kong is
over three years and five months.
Business is active and steady.
The contact person is Mr. Ashit Shah who is
also an Indian.
On the whole, consider the subject good for
normal business engagements.
[Trading as: DIASQUA
(HK), DIAGLOBE (HK),
DIAJEWEL (HK) and DIASQUA SOLITAIRE]
Room 401-402, 4/F., Guardforce Centre, 3 Hok
Yuen Street East, Hunghom, Kowloon, Hong Kong.
30791742
0709126
20th March, 2000.
HK$90,000,000.00
(As per registry dated 20-03-2015)
|
Name |
|
No. of shares |
|
Nimesh Piyush MEHTA |
|
70,000,000 |
|
Romy Piyush MEHTA |
|
20,000,000 |
|
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|
––––––––– |
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Total: |
90,000,000 ======== |
(As per registry dated 20-03-2015)
|
Name (Nationality) |
Address |
|
Nimesh Piyush MEHTA |
Flat B & C, 16/F., Block 3, Parc
Palais, 18 Wylie Road, Homantin, Kowloon, Hong Kong. |
|
Romy Piyush MEHTA |
Flat B & C, 16/F., Block 3, Parc
Palais, 18 Wylie Road, Homantin, Kowloon, Hong Kong. |
(As per registry dated 20-03-2015)
|
Name |
Address |
Co. No. |
|
First Island Secretaries Ltd. |
Room 703, 7/F., Silvercord Tower 2,
30 Canton Road, Tsimshatsui, Kowloon, Hong Kong. |
0049295 |
HK$363,826,878.78 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 20-03-2015)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
UK Pound |
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.