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Report No. : |
345872 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
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Name : |
UNI-DESIGN HONG KONG LTD. |
|
|
|
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Registered Office : |
Unit 1102, 11/F., Tower B, Hung Hom Commercial Centre, 37 Ma Tau Wai Road,
Hunghom, Kowloon |
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|
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
08.06.2004 |
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|
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Com. Reg. No.: |
34780844 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of All kinds of watches, jewellery
watches, jewellery, diamonds the main products of the subject: Diamond Watches, Chronograph Watches,
White Diamond Bangles, 18K Gold Jewellery Sets, Men’s Chronograph Watches,
Loose Diamonds, Fancy Diamonds, Natural Fancy Diamonds, Jewellery Watch and
Ring Sets, Men’s Jewellery Watches. |
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|
|
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No. of Employee : |
6. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 |
UNI-DESIGN
HONG KONG LTD.
ADDRESS: Unit 1102,
11/F., Tower B, Hung Hom Commercial Centre, 37 Ma Tau Wai Road, Hunghom,
Kowloon, Hong Kong.
PHONE: 852-2356 1858, 2721 2682,
2721 3034, 3920 5982
FAX: 852-2356 1857, 2721 6576,
2721 6576
E-MAIL: adv@diarughk.com
girish@diajewelcn.com
girish@newheritagecn.com
Managing Director: Mr.
Nareshkumar Hirachand Surana
Incorporated on: 8th
June, 2004.
Organization: Private
Limited Company.
Issued Share Capital: HK$10,000.00 & US$4,200,000.00
Business Category: Jewellery Watch Trader.
Employees: 6.
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
UNI-DESIGN
HONG KONG LTD.
ADDRESS:
Registered
Head Office:-
Unit 1102, 11/F., Tower B, Hung Hom
Commercial Centre, 37 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.
Holding
Company:-
Diarough Far East Holdings Pte Ltd.,
Singapore.
Associated
Companies:-
Aryea International Ltd., Mauritius.
Cavrois Uni-D S.A., France.
D Delight LLC, US.
DIA-CUT D.C.W. Co. Ltd., Thailand.
Diajewel Industrial Development (Shenzhen)
Co. Ltd., China.
Diarough (Hong Kong) Ltd., Hong Kong.
Diarough (Shanghai) Diamonds Ltd., China.
Diarough Canada Sales Inc., Canada.
Diarough European Sales NV, Belgium.
Diarough Management SARL, Luxembourg.
Diarough N.V., Belgium.
Diarough SICAR SCA, Luxembourg.
Diarough Sourcing SA, Luxembourg.
Diarough Middle East (DMCC), UAE.
Diarough Switzerland SARL, Switzerland.
Emby International Inc., US.
Egon African Holding Ltd., Mauritius.
Egon Finance International SA., Luxembourg.
Egon Finance S.A., Luxembourg.
Egon Holding S.A., Luxembourg.
Egon International Inc., US.
Egon jewellery S.A., Luxembourg.
Egon Re S.A, Luxembourg.
Mahendra Brothers Exports Pvt. Ltd., India.
Sixth Dimension LLC, US.
Sixth Dimension SA, Luxembourg.
Superior Diamonds Pty. Ltd., Australia.
Teemanee Manufacturing Co. Pty. Ltd.,
Botswana.
Uni-Creation Inc, US.
Uni-Design Elite Jewellery Pvt. Ltd., India.
Uni-Design Europe BVBA, Belgium.
Unidesign Far East Ltd., Hong Kong.
Uni-Design Jewellery India Pvt. Ltd., India.
Unidesign Jewellery Pvt. Ltd., India.
etc.
34780844
0905281
Managing Director: Mr. Nareshkumar Hirachand Surana
Contact Person: Ms. Eva Pun
HK$10,000.00 & US$4,200,000.00
(As per registry dated 08-06-2015)
|
Name |
|
No.
of shares |
|
|
|
|
Ordinary |
Redeemable Preference Shares |
|
Unidesign Far East Ltd., Hong Kong. |
|
1,800 |
- |
|
Diarough Far East Holdings Pte Ltd. 80 Robinson Road, #17-02, Singapore
068898. |
|
8,200 |
- |
|
Egon Holdings SA NCI Business Center, 20 Rue Eugene Ruppert,
L-2453 Luxembourg. |
|
- |
4,200,000 |
|
|
|
–––––– |
–––––––– |
|
|
Total: |
10,000 ===== |
4,200,000 ======= |
(As per registry dated 08-06-2015)
|
Name (Nationality) |
Address |
|
Girishumar Hirachand SURANA |
House No. 3 Boulevard Du Lac, The Beverly
Hills, 23 Sam Mun Tsai Road, Tai Po, New Territories, Hong Kong. |
|
Raj Hiten PARIKH |
41, 4/F., Laxmi Vilas 87, Nepean Sea Road,
Mumbai 400006, India. |
|
Nareshkumar Hirachand SURANA |
House No. 37 Boulevard Du Palais, The
Beverly Hills, 23 Sam Mun Tsai Road, Tai Po, New Territories,
Hong Kong. |
(As per registry dated 08-06-2015)
|
Name |
Address |
Co.
No. |
|
East (Nominees) Ltd. |
11/F., Kundamal House, 2-4 Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
0327797 |
The subject was incorporated on 8th June,
2004 as a private limited liability company under the Hong Kong Companies
Ordinance.
The subject registered its Chinese name on
28th May, 2013.
Originally the subject was registered under
the name of New Heritage Ltd., name changed to the present style on 2nd July,
2014. It also changed its Chinese name
as well.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities: Jewellery
Watch Trader.
Lines: All
kinds of watches, jewellery watches, jewellery, diamonds.
Brand Name:
TECHNOCRAT.
Employees: 6.
Commodities Imported: Europe, etc.
Markets: Asian
countries, Europe, etc.
Terms/Sales:
As per contracted.
Terms/Buying: As
per contracted.
The Indian Chamber of Commerce Hong Kong,
Hong Kong.
Issued Share Capital: HK$10,000.00 &
US$4,200,000.00
Mortgage
or Charge:-
Date of Floating Charge Over Assets: 21-01-2014
Amount: All
monies, obligations and liabilities
Property: All
the company’s undertaking, property and assets whatsoever and wheresoevr both
present and future
Mortgagee: ABN
AMRO Bank N.V., Hong Kong Branch.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory condition.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
ABN AMRO Bank
N.V., Hong Kong Branch.
The Bank of New
York Mellon, New York.
Standing:
Very good.
Formerly known as New Heritage Ltd.,
Uni-Design Hong Kong Ltd. was incorporated in June 2004.
Having issued 10,000 ordinary shares of
HK$1.00 each, the subject is jointly owned by Diarough Far East Holdings Pte
Ltd., a Singapore-based firm holding 82% interests; Unidesign Far East Ltd., a
Hong Kong-registered firm holding 18%.
The subject has issued 4.2 million
redeemable preference shares which are wholly-owned by Egon Holdings SA, a
Luxembourg-registered company.
The subject is a member of Diarough Group
[Diarough/Group] of companies while the core member is Diarough N.V., a
Belgium-based firm.
The subject has had an associated company
Diarough (Hong Kong) Ltd. which is located at the next door of the subject.
Mr. Nareshkumar Hirachand Surana, a director
of the subject, is also the director of Diarough (Hong Kong) Ltd.
The subject is trading in all kinds of
diamonds, jewellery watches and jewellery products bearing the brand name of TECHNOCRAT. Most of the products are high‑end.
The followings are the main products of the
subject:
Diamond Watches, Chronograph Watches, White
Diamond Bangles, 18K Gold Jewellery Sets, Men’s Chronograph Watches, Loose
Diamonds, Fancy Diamonds, Natural Fancy Diamonds, Jewellery Watch and Ring
Sets, Men’s Jewellery Watches.
Its diamond ranges from 0.02 ct to 15 ct.
and significant for its Hearts and Arrows, certified, rounds, fancy shapes,
princess cuts, tapers, fancy colours, etc.
The products of TECHNOCRAT are marketed in Hong Kong, Japan, Singapore, exported
to the other Asian countries, the Middle East, Europe, North America, etc.
The subject has registered its trade mark TECHNOCRAT with Trade Marks Registry,
Intellectual Property Department, the Government of the Hong Kong SAR.
The subject has had an associated factory in
Shenzhen Special Economic Zone, China known as Diajewel Industrial Development
(Shenzhen) Co. Ltd. [Diajewel] which is engaged in manufacturing all kinds of
jewellery products. Established on 1st
May, 2004, Diajewel is manufacturing diamond rings, ear‑rings, bracelets,
etc. Prime markets are Japan, the Middle
East, Europe, North America, etc. The registered
capital of Diajewel is HK$4 million and currently employing about 240
persons. The subject is responsible for
marketing and exporting the products of Diajewel.
Diarough N.V. operates as a diamond dealer
in Belgium and internationally. It
designs, manufactures, and supplies diamond jewellery. The company offers fancy colour diamonds and
white diamonds. It sells its products to
manufacturers, polished diamond wholesalers, and diamond jewellery
retailers. The company has factories in
India, Thailand, Botswana, South Africa, and Canada. Diarough N.V. was founded in 1960 and is
based in Antwerp, Belgium.
Diarough sources its rough diamonds from all
major international miners including DTC, BHP and Rio Tinto.
In order to penetrate the international market
further, the subject has taken part in fairs and exhibitions held in Hong Kong
and other foreign large cities.
For instance, it is going to take part in
“HKTDC Hong Kong International Jewellery Show 2016” which will be held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of
5th to 9th March, 2016.
The contact person of the subject Ms. Eva
Pun is a Hongkongnese.
Supported by the Diarough Group, the
subject’s business is profitable.
History in Hong Kong is over eleven years and four months.
On the whole, consider the subject good for
normal business engagements.
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.
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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.
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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.
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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.
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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.64.96 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
SDA |
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.