MIRA INFORM REPORT

 

 

Report Date :           

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

HUALING  INDUSTRY  (H.K.)  COMPANY

 

 

Registered Office :

Flat G, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.08.2006

 

 

Com. Reg. No.:

37062035-000-08

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of mobile phones and accessories, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

HUALING  INDUSTRY  (H.K.)  COMPANY

 

 

Company ADDRESS

 

Flat G, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong

PHONE:            2314 7467

FAX:                 Not Available

 

 

MANAGEMENT

 

Manager:  Mr. Suresh Kumar Khemka

 

 

SUMMARY

 

Establishment:                          17th August, 2006.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat G, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

37062035-000-08

 

 

MANAGEMENT

 

Manager:  Mr. Suresh Kumar Khemka

 

 

SOLE PROPRIETOR

 

Name:                           Suresh Kumar KHEMKA

Residential Address:      Sutahat Box 1, Bazar Cuttack, Orissa.

 

 

HISTORY

 

The subject was established on 17th August, 2006 as a sole proprietorship concern owned by Mr. Anup Agarwal under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

            Name

Date admitted

Date retired

Anup Agarwal

17-08-2006

04-11-2009

Suresh Kumar Khemka

27-02-2009

 

Formerly the subject was located at ‘Flat F, 11/F., Windsor Mansion, 29‑31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong’, moved to Flat G of the same floor and same building in October 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of mobile phones and accessories, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, Europe, other Asian countries, etc.

 

Markets:                       Asian countries, Middle East, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, pre-payment, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Keeping a balance account.

 

Condition:                      Business is not very active.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Hualing Industry (H.K.) Company is a sole proprietorship set up and owned by Mr. Suresh Kumar Khemka who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.  He is also the manager of the subject.

Business commenced in August 2006, the subject is a mobile phone trader.  Its old sole proprietorship Mr. Anup Agarwal was also an Indian.

The subject’s registered office is in a residential building located at ‘Flat G, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong’.  It is considered that this address is the residence of Khemka.

The subject has no employees in Hong Kong.

Khemka can be reached at his mobile phone number 9122 3894.

The subject is trading in all kinds of mobile phones and accessories.  It is carrying GSM/PCS mobile phones and accessories such as Motorola, Nokia, Sony Ericsson, Samsung, LG, Sharp, Panasonic/NEC, etc.

The subject’s significant OEM brands of mobile phones are TASHAN, JOSH & X-AGE, etc. which are manufactured in China.

The subject has registered with the Office of the Telecommunications Authority (OFTA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee.  The subject bears the licence No. of RU00130663 - RU.

It was reported that the subject also trades in other products such as electronics, home electric appliances, apparels and accessories.  Including mobile phones, the subject’s products are exported to some of the Asian countries, the Middle East, etc.  Business is fairly active.

It was also reported that the subject has had offices in Guangzhou, Shenzhen Special Economic Zone and Yiwu of Zhejiang Province.

The business of the subject is chiefly handled by Agarwal himself.  History in Hong Kong is over five years and a month.

Since the subject’s registered address is in a private building and does not have any employees, on the whole, consider it good for normal business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

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.