|
|
|
MIRA INFORM REPORT
|
Report No. : |
489884 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LITTLE STAR LIMITED |
|
|
|
|
Registered Office : |
Unit H1, 9/F., Winner Building, 36 Man Yue Street, Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
07.02.2003 |
|
|
|
|
Com. Reg. No.: |
33348809 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Diamonds, Emerald, Precious Stones. |
|
|
|
|
No. of Employees : |
3. (Including Associate) |
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
LITTLE STAR LIMITED
ADDRESS: Unit H1, 9/F.,
Winner Building, 36 Man Yue Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 852-2191 9494
FAX: 852-2191 9492
E-MAIL: info@littlestarltd.com
MANAGEMENT
Managing Director: Mr. Alpesh
Babulal Mehta
SUMMARY
Incorporated on: 7th February, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 3. (Including Associate)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
LITTLE STAR LIMITED
ADDRESS
Registered Head
Office:-
Unit H1, 9/F., Winner Building, 36 Man Yue Street, Hung Hom, Kowloon,
Hong Kong.
Mailing Address:-
P.O. Box 91115, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Belga Diam Co. Ltd., Thailand.
Dream Creations Jewelery, Hong Kong.
(Same address)
Hiralal Chhaganlal & Co., India.
BUSINESS
REGISTRATION NUMBER
33348809
COMPANY
FILE NUMBER
0832712
MANAGEMENT
Managing Director: Mr. Alpesh
Babulal Mehta
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 07-02-2017)
|
Name |
|
No. of shares |
|
Alpesh Babulal MEHTA |
|
9,000 |
|
Ramesh Hiralal MEHTA |
|
1,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
DIRECTOR
(As per registry dated 07-02-2017)
|
Name (Nationality) |
Address |
|
Alpesh Babulal MEHTA |
Unit H1, 9/F., Winner Building, 36 Man Yue Street, Hung Hom,
Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 07-02-2017)
|
Name |
Address |
|
Thouleckarsabioudine KAMALDEEN |
Unit H1, 9/F., Winner Building, 36 Man Yue Street, Hung Hom,
Kowloon, Hong Kong. |
HISTORY
The subject was incorporated on 7th February, 2003 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 801, 8/F., Lee Wai Commercial
Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to ‘Room
1606, 16/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong
Kong’ in March 2010 and further moved to the present address in February 2016.
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, emerald, precious stones.
Employees: 3.
(Including associate)
Commodities Imported: India,
Belgium, Thailand, other European countries, etc.
Markets: Hong
Kong, China, Australia, Japan, Southeast Asia, Europe, Middle East, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, O/A, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Business
is profitable.
Condition: Keeping
in an active manner.
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: Satisfactory.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Little Star
Limited is jointly owned by two India merchants: Mr. Alpesh Babulal Mehta [A B
Mehta] and Mr. Ramesh Hiralal Mehta.
The former is holding 90% interests while the latter, 10%. The former is a Hong Kong ID holder and has
got the right to reside in Hong Kong while the latter’s registered address is
in Bangkok, Thailand. Mr. A B Mehta is
also the only director of the subject.
The subject actually is owned and operated by the Mehta family.
The subject had shared the old office with another company known as Veni
Diam Ltd. [Veni Diam], a Hong Kong-registered company incorporated on 21st
June, 2012. The subject moved to the
present address in February 2016 while Veni Diam is still located at the old
address. Veni Diam is also a diamond
trader. It is owned by Mr. Keyur Pankaj
Vedecha.
The subject is engaged in acquiring and supplying diamonds in an
extensive assortment of round and fancy shapes and sizes including single cut
diamonds, loose diamonds, specialized in round brilliant, tapers, pointers,
dossiers, single cut, princess cut, 1 ct up, and baguettes, etc.
According to the subject, it is carrying the following significant
products in Hong Kong:
Loose Diamonds (with different specifications);
Loose Diamond Stones;
Baguette Diamonds;
Round Brilliant Diamonds; &
Tapered Baguette Diamonds, etc.
The subject is originated in India.
It was founded in 1957 by the Mehta family. Now, the associated company of the subject in
India is known as Hiralal Chhaganlal & Co. while the one in Thailand is
Belga Diam Co. Ltd.
The Indian Mehta family have been engaged in diamond business since
1957. For over 60 years, its business
has been expanded to Hong Kong and Thailand.
The subject also exports its products to China, Southeast Asia, the
Middle East, etc.
The subject has had an associated company Dream Creations Jewelery
located at the same operating address.
This firm is a sole proprietorship set up and owned by Alpesh Babulal
Mehta.
The subject’s products are chiefly imported from India, prime marketed
are Hong Kong, China, Australia, Japan, Southeast Asia, Europe, the Middle
East, etc. Business is rather active and
steady. The subject is fully supported
by Mehta family.
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. 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.
The subject’s business is chiefly handled by Mr. A B Mehta. The contact person and secretary of the
subject Mr. Thouleckarsabioudine Kamaldeen is also an India. He is also in Hong Kong residing at the same
address of A B Mehta.
The history of the subject in Hong Kong is over fifteen years.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.14 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
|
HKD |
1 |
INR 8.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.