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MIRA
INFORM REPORT
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Report No. : |
490387 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SAMDIMON - HK LIMITED |
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Registered Office : |
Room 708, 7/F., Empress Plaza, 17-19 Chatham Road South, Tsimshatsui,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
03.09.1997 |
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Com. Reg. No.: |
21272965 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of all kinds of Diamonds and
Jewellery Products. |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONGKONG - 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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. 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.
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Source
: CIA |
Company Name and address
SAMDIMON - HK LIMITED
ADDRESS: Room 708, 7/F., Empress
Plaza, 17-19 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2723 2029
FAX: 852-2723 7480
E-MAIL: hongkong@samdimon.com
MANAGEMENT
Managing Director: Mr.
Shailesh Ganmal Jain
SUMMARY
Incorporated on: 3rd September, 1997.
Organization: Private Limited Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Diamond
Trader.
Employees: 6.
Main Dealing Banker: ABN
AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Good.
ADDRESS
Registered Head
Office:-
Room 708, 7/F., Empress Plaza, 17-19 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Risingmoon Enterprises Ltd., British Virgin Islands.
Associated
Companies:-
Ageless Enterprises, Hong Kong.
Deep Gems, Hong Kong.
K.P. Sanghvi & Sons, India.
Samdimon (Shanghai) Ltd., China.
Samdimon (Thailand) Co. Ltd., Thailand.
Samdimon BVBA, Belgium.
Samdimon Inc., Japan.
Samdimon Inc., USA.
Samdimon N.V., Belgium.
BUSINESS REGISTRATION NUMBER
21272965
COMPANY FILE NUMBER
0622660
MANAGEMENT
Managing Director:
Mr. Shailesh Ganmal Jain
Contact Person: Ms. Regina Fan
ISSUED SHARE CAPITAL
HK$1,000,000.00
SHAREHOLDER
(As per registry dated 03-09-2017)
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Name |
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No. of shares |
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Pranav Jayvadan JARIWALA Dubai, United Arab Emirates. |
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1,000,000 ======= |
DIRECTOR
(As per registry dated 03-09-2017)
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Name (Nationality) |
Address |
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Shailesh Ganmal JAIN |
House 27, Boulevard Du Palais, The Beverly Hills,
23 Sam Mun Tsai Road, Tai Po, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 03-09-2017)
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Name |
Address |
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Navaskhan ZAKARIA |
Room 305, 3/F., Mei Yat House, Yat Tung Estate II,
Tung Chung, Lantau Island, Hong Kong. |
HISTORY
The subject was
incorporated on 3rd September, 1997 as a private limited liability company
under the Hong Kong Companies Ordinance.
Long time ago, the
subject was located at Room 2001, 20/F., Empress Plaza, 17‑19 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong, moved to Room 2006, 20/F., Empress
Plaza, 17-19 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong in August
2011, and further moved to the present address in May 2014.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds
and jewellery products.
Employees: 6.
Commodities Imported: India,
other Asian countries and Europe.
Markets: Hong Kong, Japan, India, other Asian
countries, Australia, Europe, US, Middle East, etc.
Terms/Sales: COD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIPS
Hong Kong Jewelry Manufacturers’ Association,
Hong Kong.
The Indian Chamber of Commerce Hong Kong, Hong Kong.
FINANCIAL INFORMATION
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge:-
Date of Charge on all
deposits to secure obligations of the chargor:04-04-2001
Amount: All moneys, obligations and
liabilities
Property: All the right, title and interest of
the Company whatsoever, present and future, in and to:-
(a) The Deposits;
(b) All interest accruing from time to time
on the Deposits;
(c) Without limitation of the foregoing, any
rights the Company may have individually or any rights the Company may have
through the Bank noe or hereafter arising in or to any deposit account(s) of
the Company with the Bank; and
(d) Any certificate(s) or other instruments
relating to any or all of the above.
Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making active use of general
banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Good.
Banker: ABN AMRO Bank N.V.,
Hong Kong Branch.
Standing: Good.
GENERAL
Samdimon - HK Limited
formerly was a wholly-owned subsidiary of Risingmoon Enterprises Ltd.
[Risingmoon] which was a BVI-registered firm. On 22nd March, 2017, Risingmoon
transferred all its shares to Pranav Jayvadan Jariwala who has become the
current sole shareholders.
The director of the
subject Mr. Shailesh Ganmal Jain is an India merchant. He is a Hong Kong ID holder and has got the
right to reside in Hong Kong. He is
also the only director of the subject.
The subject is a
diamond trader. It trades in polished,
cut and rough diamonds.
Jain is also the
owner of Deep Gems and Ageless Enterprises which are Hong Kong-registered
firms. Both are diamond traders.
The subject is a
member of the Samdimon Group. It is a
reputed supplier of quality diamonds.
Its main market is Asia which includes such as Hong Kong,
South Korea, Taiwan and China. It
is also targeting those emerging markets such as Australia, etc. The wide range of goods supplied by the
subject includes diamonds from 0.005 to 10.00 carats in white, TTLB, NATTS,
Marquise, Princess, white NATTS, etc. Both certified (GIA/IGI/HRD) and
non-certified stones.
The subject is
significant for the following commodities:
· 18K Gold Necklace
· 18K Gold Earring
· Carat-Size Diamond
· Cut Diamond
The subject sources
its goods, chiefly polished diamonds, from KP Shanghvi, Mumbai in India. KP Sanghvi is a DTC Sightholder, known
worldwide as a reputed manufacturer and supplier of polished diamonds, having
international network with key centres like Antwerp, New York, Australia and
Dubai.
The subject is the
marketing associates of KP Shanghvi in Hong Kong.
Samdimon Group has
offices in Antwerp, New York, Rome, Valenza, Tel Aviv, Dubai, Mumbai, Shenzhen
Special Economic Zone, Shanghai and Tokyo.
It has goods in all price range in Indian cutting, i.e. white, TTLB,
Natts, Marquise, Tappers in all sizes from 0.005pts up to 5.00 carats in
(VVS/VS/SI/PK) all quality.
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 2017” which will
be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of
28th February to 4th March, 2017.
The subject has had
premises located at 20/F. of the same building in Hong Kong.
As the history of the
subject is over twenty years in Hong Kong, on the whole, consider it good
for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.16 |
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1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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HKD |
1 |
INR 8.23 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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Payment
record
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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.