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MIRA INFORM REPORT
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Report No. : |
485138 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
K.D. DIAMONDS (HK) LIMITED |
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Registered Office : |
Room 1205, 12/F., Hart Avenue Plaza, 5-9A Hart Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
08.09.2004 |
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Com. Reg. No.: |
34958473 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and
Wholesaler of all kinds of Diamond and Jewellery Products. |
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No. of Employees : |
4 |
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
K.D. DIAMONDS (HK)
LIMITED
ADDRESS: Room 1205, 12/F., Hart Avenue
Plaza, 5-9A Hart Avenue, Tsimshatsui, Kowloon,
Hong Kong.
PHONE: 852-2724
2064
FAX: 852-2723
2064
E-MAIL: hk@kddiamonds.net
MANAGEMENT
Managing Director:
Mr. Kevin Ketan Shah
SUMMARY
Incorporated on: 8th September, 2004.
Organization: Private Limited Company.
Issued Share Capital: HK$1,000.00
Business Category: Diamond
Trader.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room 1205, 12/F., Hart Avenue Plaza, 5-9A Hart Avenue,
Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
K.D. Diamonds (S.A.) CC, South Africa.
Kediam BVBA, Belgium.
Lara Kent LLC, USA.
Ramson Exports, India.
BUSINESS
REGISTRATION NUMBER
34958473
COMPANY
FILE NUMBER
0921556
MANAGEMENT
Managing Director:
Mr. Kevin Ketan
Shah
Contact Person: Mr. Piyush Shah
[Hong Kong Mobile Phone No.: 852-9838 2064]
ISSUED
SHARE CAPITAL
HK$1,000.00
SHAREHOLDER
(As per registry dated 08-09-2017)
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Name |
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No. of shares |
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Kevin Ketan SHAH |
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1,000 ==== |
DIRECTOR
As per registry dated 08-09-2017)
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Name (Nationality) |
Address |
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Kevin Ketan SHAH |
Jozef Hertogslaan 15, 2610 Antwerpen, Belgium. |
SECRETARY
(As per registry dated 08-09-2017)
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Name |
Address |
Co. No. |
|
Belford Ltd. |
12/F., Grand Building, 15-18 Connaught Road Central,
Hong Kong. |
0333311 |
HISTORY
The subject was incorporated
on 8th September, 2004 as a private limited liability company under the Hong
Kong Companies Ordinance.
Originally the
subject was registered under the name of Kediam HK Ltd., name changed to the
present style on 13th October, 2004.
The shareholder of
the subject changed in July 2012 and changed again in March 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 diamond and jewellery products.
Employees: 4.
Commodities Imported: India,
other Asian countries, Belgium, other European countries, etc.
Markets: 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$1,000.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general
banking facilities.
Payment: Met on time.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 1,000
ordinary shares of HK$1.00 each, K.D. Diamonds (HK) Limited was wholly owned by
Mr. Dhiren Ramanlal Shah who was an Indian residing in Mumbai, India. On 5th July, 2012, D R Shah transferred all
his shares to Mr. Piyushkumar Kiritbhai Shah.
In March 2015, P K Shah transferred all his shares to Kevin Ketan Shah
who is the current sole shareholder.
Formerly P K Shah was
also the only director of the subject.
Now, he has resigned and Kevin Ketan Shah was appointed director in
March 2015.
The subject is a
diamond importer, exporter and wholesaler.
It has got a main associated company in Belgium known as Kediam
BVBA. Kediam BVBA has been a well-known
company since 1993 in the diamond business.
It is in Antwerp which is the heart of the diamond industry in Belgium. Kediam BVBA is engaged in manufacturing and
marketing rough and polished diamonds.
Kevin Ketan Shah is a CEO of Kediam BVBA.
Besides the subject,
Kediam BVBA has had associated companies in Mumbai of India, Dubai of the UAE,
Johannesburg of South Africa, etc.
Kediam BVBA is the main diamond supplier of the subject.
Kediam BVBA’s
manufacturing facilities are in India, Russia and Belgium. Its India factory is in Surat.
Besides importing
from Belgium, the subject’s products are also imported from India. Finished products and polished diamonds are
marketed in Hong Kong, exported or re-exported to Japan, other Asian
countries, the Middle East, the United States, etc. Business is rather active.
The subject is also
an affiliated company of Diamond Studs of America [DSA] which is a division of
Lara Kent LLC, an alliance of leading international jewellery and diamond
manufacturer.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong, Macau and other foreign large cities.
Besides, Kediam BVBA
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 2-P38.
The business of the
subject is rather active. Business is
chiefly handled by Kevin Ketan Shah himself.
The subject is owned by the Shah family. History in Hong Kong is over thirteen years
and four months. Business is active and profitable.
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 63.74 |
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|
1 |
INR 86.01 |
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Euro |
1 |
INR 76.14 |
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HKD |
1 |
INR 8.13 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
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
·
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.