|
|
|
MIRA INFORM REPORT
|
Report No. : |
489422 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HIMA GEMS |
|
|
|
|
Registered Office : |
Room 4, 6/F., Guardforce Centre, 3 Hok Yuen Street East, Hung Hom,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
07.09.1987 |
|
|
|
|
Com. Reg. No.: |
11279812-000-09 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Diamonds, Gems, Jewellery Products. |
|
|
|
|
No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 reexports, 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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 aided a more rapid initial recovery 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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% 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. 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, which took effect in
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.
Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 2.6% in 2016, but
slowed to 2.0% in 2017. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities.
|
Source
: CIA |
Company
name & address
HIMA GEMS
ADDRESS: Room 4, 6/F.,
Guardforce Centre, 3 Hok Yuen Street East, Hung Hom, Kowloon, Hong Kong.
PHONE: 852-2367
1457; 2739 7861
FAX: 852-2724 3524
E-MAIL: hima@netvigator.com
MANAGEMENT
Manager: Mr. Hem Kumar Himant
Sacheti
SUMMARY
Establishment: 7th September, 1987.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
HIMA GEMS
ADDRESS
Head Office:-
Room 4, 6/F., Guardforce Centre, 3 Hok Yuen Street East, Hung Hom,
Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
11279812-000-09
MANAGEMENT
Manager: Mr. Hem Kumar Himant Sacheti
Contact Person: Mr. Kama
SOLE
PROPRIETOR
Name: Mr.
Hem Kumar Himant SACHETI
Residential Address: Apartment
7, 7/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 7th September, 1987 as a sole
proprietorship concern owned by Mr. Hem Kumar Himant Sacheti under the Hong
Kong Business Registration Regulations.
The following
table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Hem Kumar Himant SACHETI |
07-09-1987 |
--- |
|
Rakesh SHARMA |
01-04-1996 |
01-04-2000 |
|
Vikas BADER |
23-05-2000 |
15-11-2003 |
|
Vinit HIRAWAT |
01-12-2000 |
30-06-2002 |
At the very beginning, the subject was located at Apartment 7, 7/F.,
Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Apartment
B, 14/F., Kok Pah Mansion, 58-60 Cameron Road, Tsimshatsui, Kowloon, Hong Kong
in October 1989; to Flat B, 7/F. of the same building in July 1993; to ‘16/F.,
Kolling Centre, 77-79 Granville Road, Tsimshatsui, Kowloon, Hong Kong’ in
August 2000 and further moved to the present address in September 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds, gems, jewellery products.
Employees: 6.
Commodities Imported: India,
Belgium, Israel, other Asian countries, etc.
Markets: Hong
Kong, China, Southeast Asia, Europe, Middle East, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
The Indian Chamber of Commerce Hong Kong, Hong Kong.
FINANCIAL
INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Business is active and
steady.
Facilities: Making active use of general
banking facilities.
Payment: Slow but correct.
Commercial Morality: Good.
Bankers:- The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Bank of India,
Hong Kong Branch.
Standing: Good.
GENERAL
Hima Gems is a sole proprietorship set up and owned by Mr Hem Kumar
Himant Sacheti who is an Indian. He has
been in Hong Kong for a very long time and has got the right to reside in Hong
Kong. He had several partners previously
but all of them have outgone.
The subject moved to the present address in September 2013.
The subject is a diamond trader.
It set up a diamond processing factory in Hong Kong on
9th November, 2001, but this factory ceased business formally on 30th
June, 2002.
Currently, the subject is importing, exporting and wholesaling Rose cut,
Rare natural colour diamonds from India, Israel and Belgium.
Most of the commodities such as natural fancy diamonds, Marquise
diamonds, fancy diamonds, fancy diamonds set, polished white diamond, polished
colour diamond, etc. are imported from India, Belgium, Israel, other Asian
countries, etc. Prime markets are Hong
Kong, China, India, Southeast Asia, the Middle East, Europe, etc.
According to the subject, its significant products are polished white
diamonds, polished colour diamonds and other rare natural colour diamonds. These products have accounted quite large
amount of its annual turnover.
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 2018” which will be held in Hong Kong
AsiaWorld-Expo, Lantau, Hong Kong during the period of 27th February to 3rd March,
2018. Its booth No. is AWE 5-C20.
The business of the subject is active as regular suppliers and regular
overseas customers have been maintained.
The contact person of the subject Mr. Kama is also an Indian.
The history of the subject is over thirty years and four months. It is one of the long-history diamond trading
companies with India capital in Hong Kong.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
|
HKD |
1 |
INR 8.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.