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MIRA INFORM REPORT
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Report No. : |
487884 |
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Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
EMERALD HOUSE LIMITED |
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Registered Office : |
Room 1111A, 11/F., Tower A, Hung Hom Commercial Centre, 37-39 Ma Tau
Wai Road, Hung Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.03.2007 |
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Com. Reg. No.: |
50087551 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
importer, exporter and wholesaler of all kinds of diamonds and
precious stones |
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No. of Employees : |
6. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRAs 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 Kongs 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 Mainlands capital markets and has reinforced Hong Kongs leading role as Chinas 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
EMERALD HOUSE LIMITED
ADDRESS: Room 1111A, 11/F., Tower A, Hung Hom
Commercial Centre, 37-39 Ma Tau Wai Road, Hung Hom, Kowloon, Hong Kong.
PHONE: 852-2367 3581
FAX: 852-2367 3582
E-MAIL: nilesh@emeraldhousehk.com
MANAGEMENT
Managing Director: Mr. Ratnesh
Tambi
SUMMARY
Incorporated on: 26th March, 2007.
Organization: Private Limited Company.
Issued Share Capital: HK$9,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: Industrial
& Commercial Bank of China (Asia) Ltd, Hong Kong.
Banking Relation: Satisfactory.
ADDRESS:
Registered Head Office:-
Room 1111A, 11/F., Tower A, Hung Hom Commercial Centre, 37-39 Ma Tau Wai
Road, Hung Hom, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
50087551
COMPANY
FILE NUMBER
1118015
MANAGEMENT
Managing Director: Mr. Ratnesh
Tambi
Contact Person: Mr. Nilesh Tambi
ISSUED
SHARE CAPITAL
HK$9,000,000.00
SHAREHOLDERS
(As per registry dated 26-03-2017)
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Name |
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No. of shares |
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Deepesh Mamodiya |
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600,000 |
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Ratnesh TAMBI |
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8,400,000 |
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Total: |
9,000,000 ======= |
DIRECTOR
(As per registry dated 26-03-2017)
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Name (Nationality) |
Address |
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Ratnesh TAMBI |
H 57, Tambi Bhawan, Bani Park, Jaipur, India. |
SECRETARY
(As per registry dated 26-03-2017)
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Name |
Address |
Co. No. |
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Champion Corporation Ltd. |
Unit 907, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui,
Kowloon, Hong Kong. |
0657221 |
HISTORY
The subject was incorporated on 26th March, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Smackerby Ltd.,
name changed to Tanzanite House HK Ltd. on 25th October, 2007 and further
changed to the present style on 29th April, 2008.
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 precious stones
Employees: 6.
Commodities
Imported: India, other Asian countries, Europe, etc.l
Markets: Hong Kong,
Southeast Asia, Europe, North America, etc.
Terms/Sales: CAD, L/C, T/T,
etc.
Terms/Buying: L/C, Advanced T/T,
etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$9,000,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Made
small profits in past years.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active use of
general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker:-
Industrial & Commercial Bank of China (Asia) Ltd, Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 9 million ordinary shares of HK$1.00 each, Emerald House
Limited is jointly owned by Mr. Deepesh Mamodiya, holding 6.7% interests, and
Mr. Ratnesh TAMBI, holding 93.3%.
The subject is trading in all kinds of precious stones and
diamonds. It is significant for its
tanzanite stones. It is also a
sightholder of tanzanite stones.
Besides, it is trading in the other precious stones:
Aquamarine, Pink Amethyst, Rubylite, Green
Amethyst, Blue Topaz, Lemon Topaz, Citrine, Smokey Topaz, Kunzite, Peridot,
Morganite, Pink Tourmalines, Amethyst, Pink Topaz, Garnet, Rose Quartz, etc.
Its products are marketed in Hong Kong, China and exported to Central
& South America, Eastern Europe, the Middle East, North America, Southeast
Asia, the other Asian Countries, etc.
The business of the subject is chiefly handled by Ratnesh Tambi
himself. History in Hong Kong is over
ten years and nine months.
On the whole, consider the subject good for normal business engagements
in moderate credit amounts.
MORTGAGE
OR CHARGE
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Date |
Description of Instrument |
Mortgagee |
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15-05-2017 |
Mortgage |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
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15-05-2017 |
Rental Assignment |
Industrial & Commercial Bank of China (Asia) 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 63.54 |
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1 |
INR 89.82 |
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Euro |
1 |
INR 78.87 |
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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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PRA |
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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
SCs 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
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Promoters
/ Management background
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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.