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MIRA INFORM REPORT
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Report No. : |
487403 |
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Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
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Name : |
JEDI DIA. TRADING LIMITED |
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Registered Office : |
Unit 911, 9/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.06.2006 |
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Com. Reg. No.: |
36842173 |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
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No. of Employees : |
3. |
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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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, which took effect in 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 2.6% in 2016, but slowed to 2.0% in 2017. 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
JEDI
DIA. TRADING LIMITED
ADDRESS: Unit 911, 9/F., Peninsula Square,
18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-3525 0287
FAX: 852-3525 0286, 3825 0286
E-MAIL: jedidia@netvigator.com
MANAGEMENT:
Managing
Director: Mr. Devang Sevantilal Shah
SUMMARY
Incorporated on: 12th June, 2006.
Organization: Private
Limited Company.
Issued
Share Capital: HK$3,000,000.00
Business Category: `
Diamond Trader.
Employees: 3.
Main Dealing Banker:
The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS:
Registered Head Office:-
Unit
911, 9/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
Affiliated Company:-
SG Trading
Co., Hong Kong. [Business ceased]
BUSINESS
REGISTRATION NUMBER
36842173
COMPANY
FILE NUMBER
1051596
MANAGEMENT
Managing Director:
Mr. Devang Sevantilal Shah
[Hong Kong Mobile
Phone No.: 852-9099 7486]
Contact Person: Mr. Harsh
Zhaveri
ISSUED
SHARE CAPITAL
HK$3,000,000.00
SHAREHOLDERS
(As per registry dated 12-06-2017)
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Name |
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No. of shares |
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Devang Sevantilal SHAH |
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2,250,000 |
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Jagruti Devang SHAH |
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750,000 |
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–––––––– |
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Total: |
3,000,000 ======= |
DIRECTORS
(As per registry dated 12-06-2017)
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Name (Nationality) |
Address |
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Devang
Sevantilal SHAH |
Flat B-1, 13/F., Burlington
House, 92 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. |
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Jagruti
Devang SHAH |
Flat B-1, 13/F., Burlington
House, 92 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 12-06-2017)
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Name |
Address |
Co. No. |
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Taxbase Consultants Ltd. |
Room 1408, 14/F., Hollywood Plaza, 610 Nathan Road, Mongkok,
Kowloon, Hong Kong. |
0411324 |
HISTORY
The subject was incorporated on 12th June, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat 1, 9/F., Block B, Burlington House, 92-94C Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 1, 13/F., Block B of the same building in June 2010, to Room 1507, 15/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong with effect from 19th July, 2010; moved to Suite B & C, 5/F., Cameron Plaza, 23‑25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong in late 2011 and further to the present address in late 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 and jewellery products, emerald, precious stones
Employees: 3.
Commodities Imported:
India, Belgium, other European and Asian countries, etc.
Markets: Hong
Kong, China, Japan, Taiwan, India, Southeast Asian countries, Middle East,
Europe,
etc.
Terms/Sales:
CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$3,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Made small profits in the past years.
Condition: Keeping in a normal condition.
Facilities: Making rather active use of
general banking facilities.
Payment: No Complaints.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Jedi Dia.
Trading Limited formerly was jointly owned by three India merchants, namely,
Mr. Devang Sevantilal Shah [D S Shah], holding 25% interests; Mr. Jagruti
Devang Shah [J D Shah], also holding 25%; and Mr. Darpil Narendra Shah,
50%. On 20th December, 2013 D N Shah
transferred all his shares to D S Shah, and since then the subject has been
jointly held by D S Shah, who is holding 75%, while J D Shah, still holding
25%.
The subject has
increased its issued share capital from HK$4.00 to HK$3 million.
The subject
moved to the present address in late 2013.
D S Shah and J D
Shah are Hong Kong ID Card holders and have got the right to reside in Hong
Kong. The two Shahs are also directors
of the subject.
D S Shah can be
reached at his Hong Kong mobile phone number
852-9099 7486.
The subject is
a diamond importer, exporter and wholesaler.
It is engaged in manufacturing loose diamonds like white marquise, Pear
Shape Diamonds: VVS-SI, D-H Colour, Size ranges from 0.04 cts to 0.7 cts. White Round Diamonds: VVS-PK, F-J Colour, Size: -2, -6, ˝, +6 – ˝,
0.10 cts to 0.50 cts.
The subject
also trades in tappers, buggets and rose cut diamonds range from 0.005 cts to 1
cts. Some of the diamonds are over 1
cts. Most of the diamonds bear the
trademark Jedi Dia.
Commodities are
chiefly imported from India, Belgium, other European and Asian countries.
Finished products are exported to China, Japan, Taiwan, India, the other Asian
countries, the Middle East, Europe, etc.
Business keeps is normal.
Formerly D S
Shah was also a partner of a partnership SG Trading Co. which was located at a
different address. However, SG Trading
Co. has ceased business since 15th January, 2007.
The subject’s
business is chiefly handled by D S Shah and J D Shah. The subject is a business of the Shah
family. The contact person of the
subject is Mr. Harsh Zhaveri.
J D Shah has
been a veteran of the diamond industry for over 25 years. Now, the subject has established business
ties not only in Hong Kong, but also in Mumbai and New York.
The subject is
supplying the Jewellers of Hong Kong with the diamonds available in the market
and customising Jewellery for weddings and private events. The subject is also the founding member of
the Indian Diamond Association of Hong Kong (IDAHK).
J D Shah is a
member of Hong Kong Cricketing Club. He
is the JD Jaguars team owner.
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-E14.
The subject
operates from its own office in Hong Kong.
The history of
the subject in Hong Kong is over eleven years and seven months.
On the whole, consider it good for normal business
engagements.
MORTGAGE
OR CHARGE
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Date |
Description
of Instrument |
Mortgagee |
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16-08-2010 |
Assignment
of Receivables – General with Notice of Assignment |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
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10-08-2012 |
Mortgage |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
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21-03-2012 |
Assignment
of Life Insurance |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
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08-08-2017 |
Assignment
of Life Insurance |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.64 |
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1 |
INR 89.32 |
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Euro |
1 |
INR 78.45 |
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HKD |
1 |
INR 8.14 |
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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DIV |
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Report Prepared
by : |
KET |
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.