3decades

MIRA INFORM REPORT

Report No. :	485451
Report Date :	11.01.2018

IDENTIFICATION DETAILS

Name :	KALPATARU (HK) LIMITED

Registered Office :	Room 701, 7/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	22.05.2007

Com. Reg. No.:	37993151

Legal Form :	Private Limited Company

Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds

No. of Employees :	2

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

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

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

KALPATARU (HK) LIMITED

ADDRESS: Room 701, 7/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-2723 8114

FAX: 852-2723 8115

E-MAIL: kalpataru.hk@gmail.com

MANAGEMENT: Managing Director: Mr. Mithil Mukeshkumar Mehta

SUMMARY

Incorporated on: 22nd May, 2007.

Organization: Private Limited Company.

Issued Share Capital: HK$7,000,000.00

Business Category: Jewellery Trader.

Employees: 2.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS:

Registered Head Office:-

Room 701, 7/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

Associated/Affiliated Companies:-

Araska Diamond, India.

D.S.M. Diamonds Pte. Ltd., Singapore.

Dia-Veer B.V.B.A., Belgium.

DSM (Pacific) Pty. Ltd., Australia.

DSM Jewellers LLC, UAE.

Kalpataru B.V.B.A., Belgium.

BUSINESS REGISTRATION NUMBER

37993151

COMPANY FILE NUMBER

1134829

MANAGEMENT

Managing Director: Mr. Mithil Mukeshkumar Mehta

(Hong Kong Mobile Phone No.: 852-6897 1514)

ISSUED SHARE CAPITAL

HK$7,000,000.00

SHAREHOLDERS

(As per registry dated 22-05-2017)

Name		No. of shares
Mithil Mukeshkumar MEHTA		5,500,000
Praful Rasiklal PAREKH		1,500,000
		––––––––
	Total:	7,000,000 =======

DIRECTORS

(As per registry dated 22-05-2017)

Name

(Nationality)

Address

Mithil Mukeshkumar MEHTA

Flat C, 4/F., Pacific Building, 65-67 Kimberly Road, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 22-05-2017)

Name	Address	Co. No.
Ponce & Co. Ltd.	Unit 324, 3/F., Hankow Centre, 5-15 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.	1121248

HISTORY

The subject was incorporated on 22nd May, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat C, 5/F., Wing Lock House, 1‑3A Lock Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat F, 12/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in August 2009; to Room 10, Unit D2, 12/F., Hang Fung Industrial Building, Phase 2, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong in December 2009; to Room 1608, 16/F., Workingport Commercial Building, 3 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong in late 2010, and further moved to the present address in May 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

Employees: 2.

Commodities Imported: India, Belgium, other European countries, etc.

Markets: Japan, Southeast Asia, Europe, Turkey, 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$7,000,000.00

Indebtedness: HK$2,193,069.00 (Total amount outstanding on all mortgages and charges

as per last Annual Return dated 22-05-2017)

Profit or Loss: Making a small profit every year.

Condition: Business is normal and steady.

Facilities: Making rather active use of general banking facilities.

Payment: Slow but Correct.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Formerly Kalpataru (HK) Limited had just issued 3 million ordinary shares which were wholly owned by Mr. Mithil Mukeshkumar Mehta [M M Mehta]. Now, the subject has increased its issued share capital to HK$7 million.

Formerly the subject was jointly owned by M M Mehta, holding 57.14% interests; Bahri Agaoglu, holding 21.43%, and Praful Rasiklal Parekh, also 21.43%. On 1st December, 2016, Bahri Agaoglu transferred all his shares to M M Mehta who is currently holding 78.57% interests, the balance 21.43% is still held by Praful Rasiklal Parekh.

M M Mehta and Praful Rasiklal Parekh are India merchants. The former is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject has increased its registered capital from HK$10,000.00 to HK$3 million in July 2011 and further to the present amount in 2015. Its financial position seems good.

The subject moved to the present address in May 2013.

The subject’s associates Kalpataru B.V.B.A. and Dia-Veer B.V.B.A. are Belgium-based firms.

The subject is a diamond and jewellery trader. It is trading in carat diamonds and diamond stones. It trades in polished, cut and loose diamonds. Most of its products are imported from India and Belgium. Commodities are marketed in Hong Kong, re-exported to Southeast Asia, Europe, Turkey, the Middle East, etc.

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.

The subject’s business is chiefly handled by Mr. M M Mehta himself. He can be reached at his Hong Kong mobile phone number 852-6897 1514.

The history of the subject in Hong Kong is over ten years and seven months.

On the whole, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.83
UK Pound	1	INR 85.28
Euro	1	INR 76.14
HKD	1	INR 8.14

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV

Report Prepared by :	KET

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.