|
|
|
MIRA INFORM REPORT
|
Report No. : |
484455 |
|
Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KLASSIC DIAM LIMITED |
|
|
|
|
Registered Office : |
Room 1225, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street,
Hung Hom, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
19.05.2014 |
|
|
|
|
Com. Reg. No.: |
63359569 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, exporter and wholesaler of all kinds of Diamonds. |
|
|
|
|
No. of Employees : |
4 |
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) |
|
Hongkong |
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 |
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.
|
Source
: CIA |
Company
name and address
KLASSIC
DIAM LIMITED
ADDRESS: Room 1225, 12/F., Block B, Focal
Industrial Centre, 21 Man Lok Street, Hung Hom,
Kowloon, Hong Kong.
PHONE: 852-2723
8220
FAX: 852-2723
8330
MANAGEMENT
Managing Director:
Mr. Sheetal Bharatkumar Patel
SUMMARY
Incorporated on: 19th May, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room 1225, 12/F., Block B, Focal Industrial Centre, 21
Man Lok Street, Hung Hom, Kowloon, Hong Kong.
Associated Company:-
Fancy Impex (HK) Ltd., Hong Kong.
BUSINESS
REGISTRATION NUMBER
63359569
COMPANY
FILE NUMBER
2098441
MANAGEMENT
Managing Director:
Mr. Sheetal Bharatkumar Patel
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 19-05-2017)
|
Name |
|
No. of shares |
|
Sheetal Bharakumar PATEL |
|
10,000 ===== |
DIRECTOR
(As per registry dated 19-05-2017)
|
Name (Nationality) |
Address |
|
Sheetal Bharatkumar PATEL |
Flat B, 26/F., Block 8, Costa Del Sol Laguna Verde,
Hunghom , Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 19-05-2017)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road
Central, Hong Kong. |
0113023 |
HISTORY
The subject was
incorporated on 19th May, 2014 as a private limited liability company under the
Hong Kong Companies Ordinance.
Formerly the subject
was located at Unit E1, 3/F., Hang Fung Industrial Building, Phase 1, 2G Hok
Yuen Street, Hung Hom, Kowloon, Hong Kong, moved to the present address in
August 2015.
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.
Employees: 4.
Commodities Imported: India,
other Asian countries, Europe, etc.
Markets: Hong
Kong, China, India, other Asian countries, etc.
Terms/Sales: CAD or as per contracted.
Terms/Buying: L/C, T/T, O/A, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
small profits in 2015 and 2016.
Condition: Business
keeps on improving.
Facilities: Adequate
for current running.
Payment: Slow but Correct
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000
ordinary shares of HK$1.00 each, Klassic Diam Limited is wholly owned by Mr.
Sheetal Bharakumar Patel [S B Patel] who 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.
He has been in Hong
Kong for a very long time as he has got his Hong Kong ID before setting up the
subject.
We can reach nobody
at your given Hong Kong mobile phone number 852-3693 9625 as it is just a voice
mail box.
The subject shares
the office with another company known as Abee Impex Ltd. [Abee] which is also a
Hong Kong-registered company. The
subject moved to the present address in August 2015.
Abee was incorporated
on 6th September, 2004. The managing
director of Abee is Mr. Bharatkumar Jairambhai Patel.
Besides operating the
subject, S B Patel is also operating another company known as Fancy Impex (HK)
Ltd. [Fancy Impex] is also a diamond
trader which was incorporated on 17th April, 2013. It is located at a different address and
wholly-owned by S B Patel. However, this
company is chiefly administered by Mr. Bharatkumar Haribhai Patel who seems to
be a family member of S B Patel.
The subject is a
diamond importer, exporter and wholesaler.
It is trading in loose, polished and cut diamonds. Most of the commodities are imported from
India. Prime markets are Hong Kong,
China, India and the other Asian countries.
Business is improving.
The subject’s
business is chiefly handled by S B Patel himself. History in Hong Kong is over three years and
two months.
On the whole,
consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.67 |
|
|
1 |
INR 86.11 |
|
Euro |
1 |
INR 76.59 |
|
HKD |
1 |
INR 8.12 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SYL |
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.