|
|
|
MIRA INFORM REPORT
|
Report No. : |
484287 |
|
Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
VENI DIAM LIMITED |
|
|
|
|
Registered Office : |
Room 1504, 15/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
21.06.2012 |
|
|
|
|
Com. Reg. No.: |
59991351 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trader of all kinds of diamonds and jewellery products, emerald,
precious stones |
|
|
|
|
No. of Employees : |
4. (Including other companies) |
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, 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
VENI DIAM
LIMITED
ADDRESS: Room 1504, 15/F., Hart Avenue
Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon,
Hong
Kong.
PHONE: 852-2191 9494, 852-2192 9493
FAX: 852-2191 9492
E-MAIL: keyur@vaibhavgems.com
MANAGEMENT
Managing
Director: Mr. Keyur Pankaj Vedecha
SUMMARY
Incorporated on: 21st
June, 2012.
Organization: Private
Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond Trader.
Employees: 4. (Including other companies)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Company
name
VENI DIAM
LIMITED
ADDRESS
Registered Head
Office:-
Room 1504, 15/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
Mailing Address:-
P.O. Box 91115,
Tsimshatsui, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
59991351
COMPANY
FILE NUMBER
1763511
MANAGEMENT
Managing
Director: Mr. Keyur Pankaj Vedecha
[Hong Kong mobile
phone: 852-9353 4728]
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry
dated 21-06-2017)
|
Name |
|
No. of shares |
|
Keyur Pankaj
VEDECHA |
|
10,000 ===== |
DIRECTOR
(As per registry
dated 21-06-2017)
|
Name (Nationality) |
Address |
|
Keyur Pankaj
VEDECHA |
Room 9C, 9/F.,
Pacific Building, 67-69 Kimberly Road, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 21-06-2017)
|
Name |
Address |
Co. No. |
|
C K Registrations
Ltd. |
Workshop P, 17/F., Block
2, Kin Ho Int’l Building, 14-24 Au Pui Wan Street, Fotan, Shatin, New
Territories, Hong Kong. |
0803965 |
HISTORY
The subject was
incorporated on 21st June, 2012 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at Room 1606, 16/F., Hart Avenue Plaza, 5‑9 Hart Avenue,
Tsimshatsui, Kowloon, Hong Kong, moved to Room 1504, 15/F. of the same building
with effect from 29th May, 2013 and moved back to Room 1606 in 2015. With effect from 19th October, 2016, the
subject moved to ‘Room 1504, 15/F.’ again.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Diamond Trader.
Lines: All kinds of diamonds
and jewellery products, emerald, precious stones, etc.
Employees: 4. (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, etc.
FINANCIAL
INFORMATION
Issued Share Capital:
HK$10,000.00
Profit or Loss: Made small profits in past three
years.
Condition: Business is normal.
Facilities: Adequate for current
running.
Payment: Slow
but correct.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Formerly Veni Diam Limited
was a wholly-owned subsidiary of Little Star Ltd. [LSL] which was also located
at the same address. Now, the subject is
solely owned by Keyur Pankaj Vedecha who is an India merchant.
He is also the only
director of the subject. He is a
Hong Kong ID Card holder and has got the right to reside in Hong
Kong. He can be reached at his Hong Kong
mobile phone number 852-9353 4728.
The subject moved to
the current address in October 2016.
The subject is
engaged in the same lines of business.
The subject is
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.
The subject is
carrying the following significant products in Hong Kong:
·
Loose Diamond;
·
Diamond Stone;
·
Round Brilliant Diamond;
·
Tapered Baguette Diamond;
·
Baguette Diamond;
·
Emerald Cut Diamond;
·
GIA Diamond, etc.
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.
One of its main
partner is Belgrade International Pvt Ltd. which is in Sri Lanka.
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-C35.
The subject’s
business is chiefly handled by Keyur Pankaj Vedecha himself. History in Hong Kong over five years and six
months.
On the whole,
consider it good for normal business engagements in moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
|
HKD |
1 |
INR 8.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.