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Report No. : |
346401 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
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Name : |
DIVINE JEWELS LTD. |
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Registered Office : |
Unit 306-A205, 3/F., Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.07.2012 |
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Com. Reg. No.: |
60096865 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
TRADER OF DIAMOND & PRECIOUS STONE |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
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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 |
DIVINE JEWELS
LTD.
ADDRESS: Unit 306-A205, 3/F., Harbour Centre,
Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-9417 5999, 2316 7775
E-MAIL: meg@divinejewelsltd.com
Managing Director: Mr. Kamlesh K
GUPTA
Incorporated on: 16th July, 2012.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
& Precious Stone Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
DIVINE JEWELS
LTD.
Registered Head Office:-
Unit 306-A205, 3/F., Harbour Centre, Tower 1, 1 Hok Cheung Street,
Hunghom, Kowloon, Hong Kong.
Associated Company:-
Divine Jewels
C-3, 8/F., Block C, Hankow Centre, 1 Middle Road, Tsimshatsui, Kowloon,
Hong Kong.
60096865
1774025
Managing Director: Mr. Kamlesh K
GUPTA
HK$10,000.00
(As per registry
dated 16-07-2015)
|
Name |
|
No. of shares |
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Kamlesh K GUPTA |
|
9,000 |
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Megha GUPTA |
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1,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 16-07-2015)
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Name (Nationality) |
Address |
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Megha GUPTA |
Flat C, 2/F., Kai Fung Building, 189-205 Queen’s Road Central, Hong
Kong. |
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Kamlesh K GUPTA |
Flat C, 2/F., Kai Fung Building, 189-205 Queen’s Road Central, Hong
Kong. |
(As per registry
dated 16-07-2015)
|
Name |
Address |
Co. No. |
|
Sky Secretaries Co. Ltd. |
Flat 707, 7/F., Yen Sheng Centre, 64 Hoi Yuen Road, Kwun Tong,
Kowloon, Hong Kong. |
0670451 |
The subject was incorporated on 16th July, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond
& Precious Stone Trader.
Lines: All
kinds of diamonds
Employees: 2.
Commodities Imported: India,
Europe, etc.
Markets: Hong Kong, China, India, other Asian countries, etc.
Terms/Sales: CAD, L/C, T/T,
etc.
Terms/Buying: L/C, Advanced
T/T, etc.
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
a small profit in 2014.
Condition: Keeping in a normal condition.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Divine Jewels Ltd.
is jointly owned by two merchants, namely, Mr. Kamlesh K GUPTA, holding 90%,
and Ms. Megha GUPTA, holding 10%.
The two shareholders are also directors of the subject. Both are US passport holders.
The registered address of the subject is located at Unit 306-A205, 3/F.,
Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong,
however, it also has had another address located at C-3, 8/F., Block C, Hankow
Centre, 1 Middle Road, Tsimshatsui, Kowloon, Hong Kong. The latter address is in a residential
building.
The subject has had an associated company Divine Jewels located at the
residential building. The subject and
Divine Jewels are engaged in the same lines of business and under the same
management.
The subject is a diamond and precious stone trader. It is trading in the following commodities:-
Aquamarine, Pink Amethyst, Rubylite, Green Amethyst, Blue Topaz, Lemon Topaz, Citrine,
Smokey Topaz, Kunzite, Peridot, Morganite, Pink Tourmalines, Amethyst,
Pink Topaz, Garnet, Rose Quartz, Tanzanite.
Commodities are marketed in Hong Kong, China and exported to Japan,
India, Europe, the United States.
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
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.
The business of the subject is chiefly handled by the two
directors. History is just over three
years and three months.
On the whole, consider the subject good for
normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.95 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.