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Report No. : |
340407 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
LUKHI DIAM HK
LTD. |
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Registered Office : |
Room 602, 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 : |
12.04.2010 |
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Com. Reg. No.: |
52068537 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is importer, exporter and wholesaler of all kinds of diamonds |
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No. of Employee : |
4 |
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
LUKHI DIAM
HK LTD.
Room 602, 6/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2739 9292
FAX: 852-2739 9291
E-MAIL: mail@lukhidiam.com
Managing
Director: Mr. Sanjaykumar Mohanbhai
Kevadia
Incorporated on: 12th April, 2010.
Organization: Private Limited Company.
Issued Share
Capital: HK$7,800,000.00
Business Category: Diamond Trader.
Employees: 4.
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Associated/Affiliated Companies:-
H. Sherul & Co., India.
Kiran Star Ltd., Hong Kong.
Lukhi Diam (Israel) Ltd., Israel.
Lukhi Diam BVBA, Belgium.
T.G.B.R. DMCC, UAE.
52068537
1441551
Managing
Director: Mr. Sanjaykumar Mohanbhai
Kevadia
HK$7,800,000.00
(As
per registry dated 12-04-2015)
|
Name |
|
No.
of shares |
|
Sanjaykumar Mohanbhai KEVADIA |
|
7,800,000 ======= |
(As
per registry dated 12-04-2015)
|
Name (Nationality) |
Address |
|
Sanjaykumar
Mohanbhai KEVADIA |
Flat H, 12/F., Windsor Mansion, 29-31 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong. |
(As
per registry dated 12-04-2015)
|
Name |
Address |
|
Bayani
Divino Bautista PONCE |
Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung,
Lantau Island, Hong Kong. |
The
subject was incorporated on 12th April, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Initially
the subject was located at Unit B, 12/F., Granville House,
41C & D Granville Road, Tsimshatsui, Kowloon, Hong Kong,
moved to the present address with effect from 6th October, 2010.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter
and Wholesaler.
Lines: All kinds of
diamonds,
Brand Name: H.Sherul.
Employees: 4.
Commodities
Imported: India, other Asian
countries, etc.
Markets: Hong Kong, Japan,
India, other Asian countries, Europe, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Issued Share
Capital: HK$7,800,000.00
Profit or Loss: Making small profits in past years.
Condition: Business is normal.
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: Small.
Having
issued 7.8 million ordinary shares of HK$1.00 each, Lukhi Diam HK Ltd. is
wholly-owned by Mr. Sanjaykumar Mohanbhai Kevadia who is an Indian. He is an India passport and also a Hong Kong
ID Card holder who has got the right to reside in Hong Kong permanently. Kevadia is also the only director of the
subject.
Business
commenced in April 2010, the subject is a loose diamond trader. It is engaged in manufacturing loose diamonds
like marquise, pears, tappers, buggets and rose cut diamonds. Most of its products are princess cut
diamonds. It also trades in rough
diamonds. Most of the products bear the
brand name H.Sherul.
The
followings are some of the models:
+10,
VS-2, GH, 2.40 MM-2.70 MM
+7,
VS-2, 1.80 MM-2.30 MM
+10,
SI-2, GH, 2.40 MM-2.70 MM
+7,
SI-2, GH, 1.80 MM-2.30 MM
+10,
SI-1, GH, 2.40 MM-2.70 MM
Most
of the commodities are imported from Mumbai, India. Prime markets of the subject are Hong Kong,
China, Japan, Taiwan, other Asian countries, Europe, the Middle East, etc. Business is normal.
The
subject is one of the members of the Lukhi Group. The Group is trading in the following
commodities:-
·
Jewellery;
·
Loose Diamonds;
·
Prince-Cut Diamonds;
·
Polished White Diamonds; &
·
Rough Diamonds.
Besides
the subject, Lukhi Group has set up offices in India, Belgium, Israel, Dubai of
the United Arab Emirates. The Group has
had a plant covering an area of about 47,000 sq.ft. in Mumbai, India. The Group’s diamond products are either IGI
or GIA certified. Business has been
good.
The
Group now has set up offices or associated companies in Belgium, Israel, Dubai,
etc., besides in India and 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-F34.
The
subject is fully supported by the Lukhi Group which has a rather long history
in India.
The
history of the subject in Hong Kong is over five years and a month.
On
the whole, consider it good for normal business engagements in moderate credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
ASH |
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 |
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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 |
|
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.