MIRA INFORM REPORT

 

 

Report Date :

09.02.2012

 

IDENTIFICATION DETAILS

 

Name :

PRIME  INTERNATIONAL  (H.K.)  CO.

 

 

Registered Office :

C/o Hong Kong Commercial Service Co.

Room 1211, 12/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.03.2011

 

 

Com. Reg. No.:

53813173-000-03

 

 

Legal Form :

Sole Proprietorship

 

 

LINE OF BUSINESS :

IMPORTER AND EXPORTER OF ALL KINDS OF MOBILE PHONE AND ACCESSORIES, ETC.

 

 

No. of Employees :

Nil.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Concern

Payment Behaviour :

Unknown

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

PRIME  INTERNATIONAL  (H.K.)  CO.

 

 

ADDRESS:       c/o Hong Kong Commercial Service Co.

Room 1211, 12/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

 

PHONE:            2302 4095

 

FAX:                 2302 4070

 

 

MANAGEMENT

 

Manager:  Mr. Ranjit Singh Deol

 

 

SUMMARY

 

Establishment:                          3rd March, 2011.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Mobile Phone Trader.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Satisfactory.

ADDRESS

 

Head Office:-

c/o Hong Kong Commercial Service Co.

Room 1211, 12/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Company:-

Astra International (H.K.) Co., Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

53813173-000-03

 

 

MANAGEMENT

 

Manager:  Mr. Ranjit Singh Deol

 

 

SOLE PROPRIETOR

 

Name:  Mr. Ranjit Singh DEOL

Residential Address:      VPO, Tigri Via Shasbad Markanda Kururshetra, Haryana, India.

 

 

HISTORY

 

The subject was established on 3rd March, 2011 as a sole proprietorship concern owned by Mr. Ranjit Singh Deol under the Hong Kong Business Registration Regulations.

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

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

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

 

Employees:                   Nil.

 

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

 

Markets:                       India, other Asian countries, etc.

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               As per contracted.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Unknown

 

Commercial Morality:      Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Prime International (H.K.) Co. is a sole proprietorship set up and owned by Mr. Ranjit Singh Deol who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1211, 12/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong which is handling its correspondences and documents.  The subject has no employees in Hong Kong.

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.  It also trades in its own brand products.

Another mobile phone trading firm Astra International (H.K.) Co., a Hong Kong-registered firm, is also located at the above-mentioned address.

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 RU00145068-RU.

It is likely that the subject has got an associated company in India which is also operated by Deol.  The India firm is also a mobile phone trader.

It is likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The India firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is just over eleven months.

Since the subject does not have its own operating office, history is short and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.78.09

Euro

1

Rs.65.15

 

 

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%)

 

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