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Report No. : |
346744 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BFE DIAMONDS (HK)
LTD. |
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|
|
|
Registered Office : |
C/o Hopwell Secretarial Services Ltd.,
Room 1006, 10/F., the L. plaza, 367-375
Queen’s Road Central, Sheung Wan |
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|
|
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Country : |
Hong Kong |
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Date of Incorporation : |
12.03.2012 |
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|
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Com. Reg. No.: |
59513026 |
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|
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is trader of all kinds of diamonds |
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|
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No. of Employee : |
3. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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 |
BFE
DIAMONDS (HK) LTD.
C/o Hopwell
Secretarial Services Ltd., Room 1006,
10/F., the L. plaza, 367-375 Queen’s
Road Central, Sheung Wan, Hong Kong.
(Formerly
located at: Unit C, 7/F., Eton Building, 288 Des Voeux Road Central, Hong
Kong.)
PHONE: 852-2187 2371
FAX: 852-2187 2372
E-MAIL: Anthony@bfediamonds.com.hk
Managing
Director: Mr. Philippe Hrand Carlo
Georges Antoine Barsamian
Incorporated
on: 12th
March, 2012.
Organization: Private
Limited Company.
Issued Share
Capital: HK$780.00
Business
Category: Diamond Trader.
Employees: 3.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Holding Company:-
Cenjal Holding
S.A., Switzerland.
Associated Companies:-
Barsamian Diamonds
NV, Belgium.
Barsamian Diamonds
SA, Belgium.
59513026
1715861
Managing
Director: Mr. Philippe Hrand Carlo
Georges Antoine Barsamian
General
Manager: Mr. Anthony Van der Donckt
HK$780.00
(As
per registry dated 12-03-2015)
|
Name |
|
No.
of shares |
|
Cenjal Holding S.A. Rue du Mont-Blanc 7, 1201 Geneva,
Switzerland. |
|
380 |
|
Philippe Hrand Carlo Georges Antoine
BARSAMIAN |
|
400 |
|
|
|
–––– |
|
|
Total: |
780 === |
(As
per registry dated 12-03-2015)
|
Name (Nationality) |
Address |
|
Philippe Hrand
Carlo Georges Antoine BARSAMIAN |
Rue des Templiers 42, 1301 Bierges,
Belgium. |
|
Cedric
Benoit Edgard Hrand BARSAMIAN |
Rue D’Angoussart, 68 1301 Bierges,
Belgium. |
(As
per registry dated 12-03-2015)
|
Name |
Address |
Co.
No. |
|
Hopwell
Secretarial Services Ltd. |
Room 6, 10/F., Manley Commercial Building, 367-375 Queen’s Road
Central, Sheung Wan, Hong Kong. |
0251778 |
The
subject was incorporated on 12th March, 2012 as a private limited liability company
under the Hong Kong Companies Ordinance.
A
new director Cedric Benoit Edgard Hrand Barsamian was appointed on 12th March,
2015.
Formerly
the subject was located at ‘Unit C, 7/F., Eton Building, 288 Des Voeux Road
Central, Hong Kong’, moved to the present address in March 2015.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Diamond Trader.
Lines: All kinds of diamonds
Employees: 3.
Commodities
Imported: Belgium, India, US, etc.
Markets: Hong
Kong, China, India, other Asian countries, etc.
Terms/Sales: As
per contracted.
Terms/Buying: Various
terms.
The
Belgium-Luxembourg Chamber of Commerce in Hong Kong.
Issued Share
Capital: HK$780.00
Profit or Loss: Made a small profit in 2014.
Condition: Business is normal.
Facilities: Making active use of general
banking facilities.
Payment: Slow
but correct.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 780 ordinary shares of HK$1.00 each, BFE Diamonds (HK) Ltd. formerly was
wholly owned by Cenjal Holding S.A. which is a Switzerland-based company. On 28th May, 2014, Cenjal Holding transferred
400 shares to Philippe Hrand Carlo Georges Antoine Barsamian.
The
subject had two directors, namely, Philippe Hrand Carlo Georges Antoine
Barsamian and Cedric Benoit Edgard Hrand Barsamian, both of whom are Belgium
passport holders.
The
subject is a diamond trader. Its main
associated company is Barsamian Diamonds NV [Barsamian] which is a
Belgium-based company.
Barsamian
is an independent, family owned company, located in the heart of the Diamond
District in Antwerp of Belgium. It was
set up in 1907.
It
is engaged in wholesaling polished diamonds.
It is also involved in polishing rough diamonds and re-polishing of
diamonds, including old or damaged diamonds.
Barsamian’s
product range includes rounds in all sizes, diamonds in every type of cut and
coloured diamonds. The diamonds can be
delivered with a certificate issued by HRD, GIA or other renowned laboratory.
Barsamian
is also able to supply a wide range of fancy cut diamonds, in all sizes. The followings are its product range:
·
Parcels of round diamonds from
0.005 carat to 0.90 carat with high-end Chinese and Russian make in different
qualities
·
GIA – HRD – IGI certificates (0.25
carat – 1 carat)
·
Exceptional round and fancy
diamonds (> 1 carat)
The
subject is the foothold for Barsamian to penetrate the Asian Pacific
market. Prime markets are Hong Kong,
China, Japan, the other Asian countries, etc.
The
history of the subject in Hong Kong is over three years and seven months. Business is chiefly handled by Mr. Anthony Van
der Donckt who can be reached at his Hong Kong mobile phone number 852-6311
8920.
On
the whole, consider the subject good for normal credit requirements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
ASH |
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.