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Report No. : |
339793 |
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Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CERISE DIAM LTD. |
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Registered Office : |
Unit 605, 6/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
08.05.2008 |
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Com. Reg. No.: |
39275692 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Colour Diamonds, Loose Diamonds. |
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No. of Employees : |
2 [Including Associates] |
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 |
CERISE DIAM LTD.
ADDRESS: Unit 605, 6/F., Hart Avenue Plaza,
5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2366 2250
FAX: 852-2453 8226
E-MAIL: ashirwad-diamonds@yahoo.com
MANAGEMENT:
Managing Director: Mr. Umeshkumar
Jagdishbhai Lukhi
Incorporated on: 8th May, 2008.
Organization: Private Limited Company.
Issued Share Capital: HK$4,000,000.00
Business Category: Diamond
Trader.
Employees: 2. (Including associates)
Main Dealing Bankers: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
CERISE DIAM
LTD.
Registered Head
Office:-
Unit 605, 6/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Companies:- (Same address)
Ashirward Gems, Hong Kong.
39275692
1235517
Managing Director: Mr. Umeshkumar
Jagdishbhai Lukhi
HK$4,000,000.00
(As per registry dated 08-05-2015)
|
Name |
|
No. of shares |
|
Purviben Umeshkumar LUKHI |
|
600,000 |
|
Umeshkumar Jagdishbhai LUKHI |
|
3,400,000 |
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–––––––– |
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Total: |
4,000,000 ======= |
(As per registry dated 08-05-2015)
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Name (Nationality) |
Address |
|
Umeshkumar Jagdishbhai LUKHI |
Flat D, 14/F., Tin Man Court, 2A Kimberley Street, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 08-05-2015)
|
Name |
Address |
Co. No. |
|
Champion Corporate Ltd. |
Unit 907, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui,
Kowloon, Hong Kong. |
0657221 |
The subject was incorporated on 8th May, 2008 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: Importer,
Exporter and Wholesaler.
Lines: All
kinds of colour diamonds, loose diamonds.
Employees: 2. (Including associates)
Commodities Imported: India.
Markets: Hong
Kong, other Asian countries, Europe.
Terms/Sales: CAD, L/C, T/T.
Terms/Buying: Prepayment, L/C.
Issued Share Capital: HK$4,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Made
small profits in the past years.
Condition: Keeping in a normal manner.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as required.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Standing: Small.
Cerise Diam Ltd. had issued 2 million ordinary shares of HK$1.00 each
which was is jointly owned by Mr. Umeshkumar Jagdishbhai Lukhi, holding 70%
interests, and Purviben Umeshkumar Lukhi, holding 30%. Now, its ordinary shares have been increased
to 4 million. The former is holding 85%
interests while the latter is holding 15%.
The former is the only director of the subject. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
The subject has had an associated company Ashirward Gems [Ashirward]
located at the same address. Ashirward
is a sole proprietorship set up and owned by Umeshkumar Jagdishbhai Lukhi. U. J. Lukhi can be reached at his Hong Kong
mobile phone number 852-9620 1109.
The subject and Ashirward are engaged in the same lines of business.
The subject is one of the leading manufacturer of natural fancy colour
diamonds. It is specialised in natural
fancy loose diamonds with exclusive range of high-quality pink, blue, canary,
yellow, grey, brown pink colours, etc.
The products include different kinds of fancy cuts and sizes. It also trades in coloured loose gemstones,
fancy diamonds and carat diamonds.
The subject exports its products to Australia, Eastern and Western
Europe, North America, etc. besides marketing in Hong Kong.
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. Its
booth No. is AWE 5-J24.
It also has taken part the diamond exhibition held in Las Vegas, the
United States.
The subject’s business is chiefly handled by Umeshkumar Jagdishbhai
Lukhi himself.
As the history of the subject is over seven years and four months in
Hong Kong, on the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
29-09-2008 |
Instrument: Assignment of Receivables - General
with Notice of Assignment Property: In consideration of the Banking Facilities, the Customer, as
beneficial owner and by way of security for payment of the Secured Monies,
hereby assigns, and agrees to assign, to the Bank the Receivables until all
the Secured Monies have been paid or discharged. Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all monies in respect of general banking facilities |
|
30-09-2008 |
Instrument: Mortgage Property: 1,857/435,384th parts or shares of and Section A of Sub-Section 1 of
Section F of Kowloon Marine Lot No. 40, Section B of Sub-Section 1 of
Section F of Kowloon Marine Lot No. 40, The Remaining Portion of Section G of
Marine Lot No. 40, Sub-Section 2 of Section F of Kowloon Marine Lot No. 40
and Sub-Section 3 of Section F of Kowloon Marine Lot No. 40 (Unit E on
6/F., Summit Building, Man Yue Street, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all moneys in respect of general banking facilities and
interest |
|
15-06-2012 |
Instrument: Mortgage Property: 2/263rd parts or shares and of Kowloon Inland Lot No. 7420
(Office E on 12/F. of Cheung Lee Commercial Building, 25 Kimberley Road,
Kowloon, Hong Kong.) Mortgagee: Industrial & Commercial Bank of
China (Asia) Ltd., Hong Kong. |
To secure all the general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.66.40 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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.