Annual turnover of customer: USD 14.0 million

Annual group turnover: Over USD 1.0 billion

Facility Arranged: USD 10.0 million

Headquartered in Hong Kong, the Group has a vintage of over 100 years in the Diamond industry and a consolidated turnover of over USD 1.0 billion. The Group is present throughout the entire value chain, from rough diamond processing to jewellery manufacturing, marketing and retail for domestic and export markets with offices in 15 countries in 4 continents.

Despite its wide based presence and subsidiaries in various countries like China, Japan, Taiwan, India, Dubai, South Africa, Belgium, UK, US, etc, the Group had banking relationships with only a couple of banks at parent level (Global Banks) and was interested in reducing this concentration by bringing in new banks.

In 2010, the Group acquired two branded Jewelry companies in USA which until FY2014 had an annual turnover of around USD 14.0 million only. The Group was required to support the working capital needs of the companies, pending a turnaround in profitability and wanted to arrange bank facility for financing working capital needs of US business.