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MIRA INFORM REPORT
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Report No. : |
485795 |
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Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ARYA GEMS AND JEWELS LIMITED |
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Registered Office : |
Room A,
5/F., Prat Commercial Building, 17-19 Prat Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.07.2017 |
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Com. Reg. No.: |
67917888 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importer, Exporter And Wholesaler of All Kinds of Gem Stones, Diamonds, And Jewellery Products |
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No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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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Hong Kong |
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 |
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.
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Source
: CIA |
Company
name and address
ARYA GEMS AND JEWELS
LIMITED
ADDRESS: Room A, 5/F., Prat Commercial Building,
17-19 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
MANAGEMENT:
Managing Director: Mr. Singh Ranjit
SUMMARY
Incorporated on: 3rd
July, 2017.
Organization: Private
Limited Company.
Issued Share Capital: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: Not available.
Banking Relation: Not applicable.
ADDRESS:
Registered Head Office:-
Room A, 5/F., Prat Commercial Building, 17-19
Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
67917888
COMPANY
FILE NUMBER
2551655
MANAGEMENT
Managing Director: Mr. Singh Ranjit
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 03-07-2017)
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Name |
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No. of share |
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Vijay Devi CHORDIA Flat H, 26/F., Block T10, Carmel Cove,
Caribbean Coast Phase 3, Tung Chung, New Territories, Hong Kong. |
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1 = |
DIRECTOR
(As per registry dated 03-07-2017)
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Name (Nationality) |
Address |
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Singh
RANJIT |
Flat
12, 9/F., Block P, Chung Wa House, Phase 3, Tin Chung Court, Tin Shui Wai,
New Territories, Hong Kong. |
SECRETARY
(As per registry dated 03-07-2017)
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Name |
Address |
Co. No. |
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Buttar Secretarial
Ltd. |
Unit
13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New Territories,
Hong Kong. |
2086550 |
HISTORY
The subject was incorporated on 3rd July,
2017 as a private limited liability company under the Hong Kong Companies
Ordinance.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of gem stones, diamonds, and jewellery products
Employees: 2.
Commodities
Imported: India,
other Asian countries, Europe, etc.
Markets: Hong
Kong, China, India, other Asian countries, Europe, etc.
Terms/Sales:
CAD or as per contracted.
Terms/Buying:
Prepayment, L/C, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$1.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Unknown.
Commercial Morality: Too
early to comment.
Banker:
Not
available.
Standing:
Small.
GENERAL
Having issued just one ordinary share of HK$1.00, Arya Gems and Jewels Limited is wholly owned by Mr. Vijay Devi Chordia who is an India merchant. Currently he is residing in Hong Kong.
The director of the subject Mr. Singh Ranjit is also an Indian. 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 being appointed director of the subject.
The subject is a diamond, gemstone and jewel importer, exporter and wholesaler. It is trading in loose, polished and cut diamonds and the following gem stones:
Tanzanite, Amethyst, Rubylite, Green Amethyst, Blue Topaz, Lemon Topaz, Citrine, Smokey Topaz, Kunzite, Peridot, Morganite, Pink Tourmalines, Amethyst, Pink Topaz, Emerald, Garnet, Lapis-lazuli, Ruby, Sapphire, Rose Quartz, etc.
Most of the commodities are imported from India. Prime markets are Hong Kong, China, India and the other Asian countries. Business is still under development.
The business of the subject is chiefly handled by the shareholder and director. History in Hong Kong is just over a months.
On the whole, since the history of the subject is short in Hong Kong, consider it good for normal credit requirements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.53 |
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1 |
INR 86.05 |
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Euro |
1 |
INR 76.53 |
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HKD |
1 |
INR 8.11 |
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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VIV |
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Report Prepared
by : |
TRU |
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
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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
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Industry
scenario / competitor analysis
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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.