MIRA INFORM REPORT

Report No. :	485801
Report Date :	15.01.2018

IDENTIFICATION DETAILS

Name :	SHINE DIAM (HK) LIMITED
Registered Office :	Flat D, 9/F., Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon
Country :	Hong Kong.
Date of Incorporation :	05.12.2011
Com. Reg. No.:	59226710032
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of All Kinds of Diamonds
No. of Employees :	1

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
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

SHINE DIAM (HK) LIMITED

ADDRESS: Flat D, 9/F., Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-3487 2759

FAX: Not available

E-MAIL: shinediamh@yahoo.com

MANAGEMENT:

Managing Director: Mr. Kaushal Pankaj Van

SUMMARY

Incorporated on: 5th December, 2011.

Organization: Private Limited Company.

Issued Share Capital: HK$10,000.00

Business Category: Diamond Trader.

Employee: 1.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Office:-

Flat D, 9/F., Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

59226712

COMPANY FILE NUMBER

1687373

MANAGEMENT

Managing Director: Mr. Kaushal Pankaj Van

ISSUED SHARE CAPITAL

HK$10,000.00

SHAREHOLDER

(As per registry dated 05-12-2017)

Name	No. of shares
Kaushal Pankaj VAN	10,000 =====

DIRECTOR

(As per registry dated 05-12-2017)

Name (Nationality)	Address
Kaushal Pankaj VAN	B-702 Sanskruti CHSL, Kedarmal Road, Malad East, Mumbai 400097, MS, India.

SECRETARY

(As per registry dated 05-12-2017)

Name	Address	Co. No.
Alto Profitto Secretarial Ltd.	Room 512, 5/F., Tower B, New Mandarin Plaza, 14 Science Museum Road, Tsimshatsui, Kowloon, Hong Kong.	0741913

HISTORY

The subject was incorporated on 5th December, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the registered address of the subject was located at Room 2207‑2209, 22/F., Block II, Lippo Centre, 89 Queensway, Admiralty, Hong Kong, moved to the present address in March 2012.

The subject changed its corporate secretary in late 2013. It changed its shareholder and director 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, etc.

Employee: 1.

Commodities Imported: India, Europe, etc.

Markets: Hong Kong, India, other Asian countries, etc.

Terms/Sales: CAD or as per contracted.

Terms/Buying: L/C, prepayment, etc.

FINANCIAL INFORMATION

Issued Share Capital: HK$10,000.00

Profit or Loss: Made small profits in past four years.

Condition: Business is normal.

Facilities: Adequate for current running.

Payment: Met trade commitments as contracted.

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, Shine Diam (HK) Limited formerly was wholly owned by Kaushal Pankaj Van [K P Van] who was an Indian. On 4th June, 2012, Kaushal Pankaj Van transferred all his shares to Mr. Savrin Subhash Shah [S S Shah] who is also an Indian.
On 23rd October, 2015, S S Shah transferred his shares back to K P Van again.

Now, Mr. K P Van is also the only director of the subject. He is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently. We can reach the subject at its Hong Kong phone number
852-3487 2759.

K P Van can be reached at his Hong Kong mobile phone number
852-9403 2819.

The subject commenced business in December 2011.

The subject’s registered address is in a private building located at Flat D, 9/F., Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong. This is also the operating office of the subject. The residential building is not trespassed by outsiders.

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, Europe, etc. Prime markets are Hong Kong, India, the other Asian countries, Europe, 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. Its booth No. is AWE 7-H28.

The business of the subject is chiefly handled by Mr. K P Van himself.

The subject’s history in Hong Kong is just over six years and a month.

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 63.53
UK Pound	1	INR 86.05
Euro	1	INR 76.53
HKD	1	INR 8.11

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	TRU

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.