MIRA INFORM REPORT
|
Report No. : |
342916 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KGK DIAMONDS (HK) LIMITED |
|
|
|
|
Registered Office : |
18/F, Peninsula Square, 18 Sung On Street, Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
27.10.2000 |
|
|
|
|
Com. Reg. No.: |
735843 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of gem |
|
|
|
|
No of Employees : |
About 20 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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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% of total system deposits in Hong Kong by the end of 2013. 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 40.7 million in 2013, 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 2012 mainland Chinese companies constituted about 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
|
Source
: CIA |
Contact
Points
|
Company Name: |
|
|
Supplied Name: |
KGK DIAMONDS (HK) LTD |
|
Trading Address: |
18/F, Peninsula Square, 18 Sung On Street, Hung
Hom, Kowloon, Hong Kong |
|
Supplied Address: |
18/F, Peninsula Square, 18, Sung on Street, Hunghom, Kowloon |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
18/F, Peninsula
Square, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2723-9828 |
|
Fax Number: |
+852-2723-7584 |
|
Date of Registration: |
2000-10-27 |
|
Registered Number: |
735843 |
|
Business Registration No.: |
31329946 |
|
Paid-up Capital: |
HKD 156,000,000 (USD 20,124,000) = 156,000,000
Shares@ HKD 1 (As of 2015.05, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial,
otherwise worked, but not mounted or set (cm) |
|
Principal Activities: |
Trading of gem, etc. |
|
Staff: |
About 20 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-27 |
History
Subject was incorporated on 2000-10-27 with the registered number 735843 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Major Related
Companies
|
1 |
|
|
Name: |
KGK Gems (HK) Ltd. |
|
Address: |
18/F, Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong |
|
2 |
|
|
Name: |
KGK Jewellery (HK) Ltd. |
|
Address: |
18/F, Peninsula Square, 18 Sung On Street,
Hunghom, Kowloon, Hong Kong |
|
3 |
|
|
Name: |
KGK Diamonds (Shenzhen) Co., Ltd |
|
4 |
|
|
Name: |
KGK Gems (Shenzhen) Ltd |
|
5 |
|
|
Name: |
KGK Diamonds (I) Private Ltd |
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
United Pacific Excel Limited |
154,299,998 |
98.910255% |
|
Sanjay Navrattan Kothari |
1,700,001 |
1.089744% |
|
Manju Kothari |
1 |
0.000001% |
|
Total |
156,000,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
United Pacific Excel Limited |
|
Registered Address: |
263 Main Street P. O. Box 2196, Road Town, Tortola,
British Virgin Islands |
|
2 |
|
|
Name: |
Sanjay Navrattan Kothari |
|
Address: |
House A, 8623 Tai Po Road, Shatin, N.T. HK |
|
3 |
|
|
Name: |
Manju Kothari |
|
Address: |
House A, 8623 Tai Po Road, Shatin, N.T. HK |
Management
Information
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Kothari Sanjay Navrattan |
|
Address: |
House A, 8623 Tai Po Road, Shatin, N. T,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
K629324(7) |
|
2 |
|
|
Name: |
Louis Lai & Luk Company Secretarial
Services Limited |
|
Address: |
9/F, Surson Commercial Building, 140-142
Austin Road, Tsimshatsui, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
686503 |
Former Directors:
|
Name: |
Kothari Navrattan Ghisilal |
|
Position: |
Director |
|
ID Number: |
R002384(0) |
|
Dare of Appointment: |
2015-3-9 |
|
Date of Resignation: |
2015-3-16 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
18/F, Peninsula Square, 18 Sung On Street,
Hung Hom, Kowloon, Hong Kong |
|
Area: |
|
Premises
Information
Office address:
|
Address: |
18th Floor (Including Storeroom And Lift Lobby)
Peninsula Square No.18 Sung On Street Kowloon |
|
Owners: |
KGK Resources (HK) Limited |
|
Memorial Number: |
12112601170020 Assignment |
|
Date of Instrument: |
2012-10-30 |
|
Date of Registration: |
2012-11-26 |
|
Consideration Value: |
HKD 145,000,000.00 (PT.) |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
12112601170063 |
|
Date of Instrument: |
2012-10-30 |
|
Date of Registration: |
2012-11-26 |
|
Nature: |
Rent Assignment |
|
In Favor of: |
Hang Seng Bank Limited |
|
2 |
|
|
Memorial No.: |
12112601170055 |
|
Date of Instrument: |
2012-10-30 |
|
Date of Registration: |
2012-11-26 |
|
Nature: |
Second Mortgage |
|
In Favor of: |
Hang Seng Bank Limited |
|
Consideration: |
All Moneys (PT.) |
|
3 |
|
|
Memorial No.: |
12112601170041 |
|
Date of Instrument: |
2012-10-30 |
|
Date of Registration: |
2012-11-26 |
|
Nature: |
Rent Assignment |
|
In Favor of: |
Hang Seng Bank Limited |
Note: PT. means part of.
Production Information
l Subject is engaged in trading of gems, etc. without any production
activities.
Purchase Information
l It is introduced that subject imports products from China, India, South
Africa, Russia, etc.
Sales Information
l The subject is mainly engaged in sales of gems, etc.
l The major products of the subject are gemstones and jade, colored
gemstones, diamonds and so on.
l It is introduced that the sales regions of the subject are domestic
market and abroad.
l It is introduced that subject’s products are applied to jewelry, watches
and etc.
l Subject’s major customers are manufacturers and designers of jewelry,
etc.
Trademark
%20LIMITED%20-%20342916%2029-Sep-2015_files/image001.jpg)
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Gems, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Gems, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Gems, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Gems, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information, from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
|
Date: |
2009-9-30 |
|
Court Name: |
High Court Companies Winding-Up |
|
Court No.: |
585 |
|
Claimant: |
KGK Diamonds (HK) Ltd c/o 14/F, Chevalier House, 45-51 Chatham Road South, Tsim Sha Tsui, Kln c/o Peter K.S. Chan & Co (a firm) |
|
Defendant: |
King Sing Jewellery Co Ltd c/o Room 16, 4/F, Block A, Good Year Industrial
Building, No.119-121 How Ming Street, Kwun Tong, Kln, HK |
|
Reason: |
Winding Up Petition |
|
2 |
|
|
Date: |
2009-09-30 |
|
Court Name: |
High Court Companies Winding-Up |
|
Court No.: |
586 |
|
Claimant: |
KGK Diamonds (HK) Ltd c/o 14/F, Chevalier House, 45-51 Chatham Road South, Tsim Sha Tsui, Kln c/o Peter K.S. Chan & Co (a firm) |
|
Defendant: |
TKT Diamonds Ltd c/o Unit 9, 13/F, Tower B, Hung Hom Commercial
Centre, No.37 Ma Tau Wai Road, Kln |
|
Reason: |
Winding Up Petition |
|
3 |
|
|
Date: |
2006-05-03 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
2119 |
|
Claimant: |
KGK Diamonds (HK) Ltd c/o 14/F, Chevalier House, 45-51 Chatham Road
South, Tsimshatsui Kln |
|
Defendant: |
Sing Kwong Jewellery & Gold Co Ltd c/o 102B, 1/F, Tower I, Harbour Centre, 1 Hok
Cheung Street, Hunghom, Kln |
|
Reason: |
Dishonored Cheque |
|
Amount(HKD): |
HKD 684,867.44 |
|
4 |
|
|
Date: |
2004-02-04 |
|
Court Name: |
District Court Civil Action |
|
Court No.: |
417 |
|
Claimant: |
Kothari Sanjay Navrattan t/a Emerald Distributors alias Kothari Sanjay Navrattan t/a Kgk Diamonds (HK) Suite 2507, 25/F. Asia Pacific, Finance
Tower, Citibank Plaza, 3 Gdn Rd. Central HK |
|
Defendant: |
King Sing Jewellery Co Ltd c/o Room 16, 4/F, Block A, Good Year Industrial
Building, No.119-121 How Ming Street, Kwun Tong, Kln, HK |
|
Reason: |
Winding Up Petition |
Mortgage
Record
|
1 |
|
|
Company Name: |
KGK Diamonds (HK) Limited |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2008-5-23 |
|
Date of Discharge of the Charge |
2012-8-24 |
|
Amount Secured: |
In consideration of Abn Amro Bank N.V.
agreeing (subject to the terms of the Mortgage) to grant general banking
facilities to KGK Jewellry Manufacturing Limited, the Mortgage is to secure all money6s which may from time to time be owing
by KGK Jewellry Manufacturing Limited to Abn Amro Bank N.V. |
|
Name of Mortgagee: |
Abn Amro Bank N.V. |
|
Address of Mortgagee: |
38th Floor, Cheung Kong Center, 2
Queen’s Road Central, Hong Kong |
|
Description of Property Mortgaged: |
20/4, 070th parts or shares of and
in Kowloon Inland lot No. 9401 (Flat No. 8 on 14th Floor and Flat
No. I on 18th Floor of Star Mansion, No. 3 Minden Row, Kowloon,
Hong Kong). |
|
2 |
|
|
Company Name: |
KGK Diamonds (HK) Limited (“the Company”) |
|
Instrument of Creating Mortgage: |
Mortgage |
|
Date of Creating Mortgage: |
2008-5-23 |
|
Date of Discharge of the Charge |
2012-8-24 |
|
Amount Secured: |
In consideration of Abn Amro Bank N.V.
agreeing (subject to the terms of the Mortgage) to grant general banking
facilities to KGK Jewellry Manufacturing Limited, the Mortgage is to secure all money6s which may from time to time be owing
by KGK Jewellry Manufacturing Limited to Abn Amro Bank N.V. |
|
Name of Mortgagee: |
Abn Amro Bank N.V. |
|
Address of Mortgagee: |
38th Floor, Cheung Kong Center, 2
Queen’s Road Central, Hong Kong |
|
Description of Property Mortgaged: |
20/4, 070th parts or shares of
and in Kowloon Inland lot No. 9401 (Flat No. 8 on 14th Floor and
Flat No. I on 18th Floor of Star Mansion, No. 3 Minden Row, Kowloon,
Hong Kong). |
Special
Note
Interview Details
|
Department: |
Sales Department |
Industry
Information
66729--Diamonds, non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
113,655 |
854,839 |
1,452,417 |
10,085,815 |
|
Brazil |
33 |
1,437 |
174 |
5,836 |
|
Australia |
2,033 |
41,188 |
10,332 |
181,710 |
|
Belgium |
81,093 |
1,198,674 |
1,070,230 |
181,710 |
|
Germany |
154 |
614 |
18,279 |
80,845 |
|
Canada |
202 |
1,578 |
7,643 |
104,109 |
|
Switzerland |
5,866 |
161,374 |
56,112 |
1,665,846 |
|
Japan |
36,378 |
286,671 |
497,269 |
3,174,371 |
|
Thailand |
65,194 |
243,239 |
657,318 |
3,002,179 |
|
India |
765,990 |
3,982,962 |
12,544,931 |
64,883,740 |
|
The Mainland of China |
117,833 |
912,624 |
1,337,780 |
10,148,553 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
54 |
4,421 |
|
Israel |
61 |
10,875 |
153 |
38,772 |
|
-- |
-- |
3 |
116 |
|
|
Thailand |
-- |
-- |
422 |
1,865 |
|
USA |
140 |
2,916 |
2,982 |
55,371 |
|
Belgium |
2 |
74 |
463 |
70,594 |
|
Singapore |
-- |
-- |
28 |
4,990 |
|
The Mainland of China |
186 |
496 |
4,894 |
15,396 |
External Trade
Information:
External Merchandise
Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
Attachment
18/F, Peninsula Square, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong
%20LIMITED%20-%20342916%2029-Sep-2015_files/image011.jpg)
18/F, Peninsula Square, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong
%20LIMITED%20-%20342916%2029-Sep-2015_files/image012.jpg)
18/F, Peninsula Square, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong
%20LIMITED%20-%20342916%2029-Sep-2015_files/image013.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.08 |
|
|
1 |
Rs. 100.32 |
|
Euro |
1 |
Rs. 73.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.