MIRA
INFORM REPORT
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Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DENZONG TRADE LINK |
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Registered Office : |
Room 1805, 18/F., Royal Commercial Centre, 56 Parkes Street, Jordan,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.06.1998 |
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Com. Reg. No.: |
21790993-000-06 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer, Exporter and Wholesaler of Watch bands and straps, clocks,
silk, mobile phones, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
DENZONG TRADE
LINK
ADDRESS
Room 1805, 18/F., Royal Commercial Centre, 56 Parkes Street, Jordan,
Kowloon, Hong Kong.
PHONE: 2723 8407
FAX: 2723 8487
E-MAIL: denzong@gmail.com
denzong@hotmail.com
denzong@netvigator.com
MANAGEMENT
Manager: Mr. Gautam Kumar Sarraf
SUMMARY
Establishment: 7th
June, 1998.
Organization: Partnership.
Capital:
Not
disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees:
4.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1805, 18/F., Royal Commercial Centre, 56 Parkes Street, Jordan, Kowloon,
Hong Kong.
P.O. Box 98696, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Associated Company:-
Denzong, Hong Kong. (Same
address)
Affiliated Company:-
Atlanta Pacific (HK) Ltd., Hong Kong.
(Same address)
BUSINESS REGISTRATION NUMBER
21790993-000-06
MANAGEMENT
Manager: Mr. Gautam Kumar Sarraf
SOLE PROPRIETOR
Name: Mr. Gautam Kumar SARRAF
Residential Address: Flat 5E,
Wah Fung Building, 17-23 Miden Avenue, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 7th June, 1998 as a sole proprietorship
concern owned by Ms. Doma Tsering Sherpa under the Hong Kong Business
Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Doma Tsering SHERPA |
07-06-1998 |
15-08-2000 |
|
Gautam Kumar SARRAF |
01-01-2000 |
- |
Initially the subject was located at Flat C, 24/F., Silvervale Mansion,
18 Cross Street, Wanchai, Hong Kong, moved to Flat E, 5/F., Wah Fung Building,
17‑23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong in August 1999; to
Flat C, 14/F., Liberty Mansion, 26E Jordan Road, Jordan, Kowloon,
Hong Kong in September 2001; and further moved to the present address in
November 2007.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Watch
bands and straps, clocks, silk, mobile phones, etc.
Employees: 4.
Commodities Imported: China, Taiwan, India, Europe, etc.
Markets: China,
other Asian countries, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
Bank of
China (Hong Kong) Ltd., Hong Kong.
Standing:
Small.
GENERAL
Denzong Trade Link is a sole proprietorship owned by Mr. Gautam Kumar
Sarraf who is an Indian. He is a Hong
Kong ID Card holder and has got the right to reside in Hong Kong permanently. Sarraf joined in the subject in January 2000.
According to the subject, “Denzong” literally means the “Land of
Mountains”. It claims to be “different
from other trading companies” as it provides worldwide clients with a wide
range of services.
The subject is a small company importing and exporting the following
commodities:-
|
Product/Service |
Product/Service Remarks |
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Watches and Clocks |
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Watch Bands and Straps |
From China and Taiwan (Exporter) From China and Taiwan (Importer) |
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Watch / Clock Parts |
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Watch Dial |
From China and Taiwan (Importer) From China and Taiwan (Exporter) |
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Watch Case – Metal |
From China and Taiwan |
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Watch / Clock Movement |
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Watch Movement |
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Clocks |
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Clock – Mechanical |
From China and Taiwan |
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Raw Materials |
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Textile Fibres (including Wool) |
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Silk, Raw Silk, Fabrics |
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Computer and Peripherals |
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Computer Peripherals and Accessories |
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Computer System |
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Mainframe |
CPU (Importer) CPU (Exporter) |
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Telecom Products |
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Mobile Phone and Mobile Phone Equipment |
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Mobile Phone Accessories |
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Mobile Phone |
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Religious Products |
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Religious Items and Offerings |
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Joss Paper |
Incense from India |
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Packaging Materials |
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Packaging Materials – Miscellaneous |
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Box – Presentation |
Watch and jewellery packing boxes from China |
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Building Materials and Building Facilities |
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Tiles and Coverings |
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The subject also carries artificial flowers, furniture, toys, mobile phone
accessories, electrical fittings, sanitary fittings, hardware, embroidery and
laces, gift items, etc. Products are
sourced from China, India, Europe, other Asian countries, etc. However, China is the principal
supplier. Commodities are re-exported to
Taiwan, China and the other Asian countries.
Regular suppliers and foreign customers have been maintained. Business is rather active.
The subject’s business is chiefly handled by Mr. Gautam Kumar Sarraf
himself.
The subject has had an affiliated company Atlanta Pacific (HK) Ltd.
[Atlanta Pacific] located at its operating office. Atlanta Pacific was incorporated on 24th
October, 2008 and operated by Mr. Harshad Rai Kothari who is an Indian.
On the whole, since the history of the subject is over thirteen years
and two months in Hong Kong, consider it good for normal business
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.74.56 |
|
Euro |
1 |
Rs.65.33 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.