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Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
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Name : |
G.
M. INTERNATIONAL |
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Registered Office : |
4-E, |
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Country : |
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Date of Incorporation : |
10.10.2011 |
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Com. Reg. No.: |
54144785-000-10 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer, Exporter and Wholesaler of LEDs, Electronic Products, Garments, and accessories, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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 re-exports, is about four times GDP. 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, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. 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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. 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 exports 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 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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Source : CIA |
G. M. INTERNATIONAL
4-E, Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
Manager: Mr. Yogiraj Gogia
Establishment: 10th October, 2011.
Organization: Partnership.
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.
Head Office:-
4-E, Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
54144785-000-10
Manager: Mr. Yogiraj Gogia
Name: Mr. Rajan Shankar GOGIA
Residential Address: 4319/3, Ansaai Road, Daryaganj, N. Delhi-110002, India.
Name: Mr. Yogiraj GOGIA
Residential Address: 4319/3, Ansaai Road, Daryaganj, N. Delhi-110002, India.
The subject was established on 10th October, 2011 as a partnership concern jointly owned by Mr. Rajan Shankar Gogia and Mr. Yogiraj Gogia under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: LEDs, Electronic Products, Garments, and accessories, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: India, other Asian countries, Australia, etc.
Terms/Sales: As per contracted.
Terms/Buying: Prepayment, L/C, etc.
Capital: Not Disclosed.
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
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.
G.M. International is a partnership jointly owned by Mr. Rajan Shankar Gogia and Mr. Yogiraj Gogia both of whom are Indian. They are India passport holder and do not have the right to reside in Hong Kong permanently. Currently the former is residing in N. Delhi, India. Yogiraj Gogia is the manager of the subject who is in China most of the time.
The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.
The subject’s registered address is in a private building located at 4-E, Union Mansion, 33-35 Chatham Road, Tsimshatsui, Kowloon, Hong Kong. This is the residence of the Gogias when they are in Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
It is trading in
the following commodities:-
LED Products, Electronic Products, Garments, Other Textile Products, Accessories, etc.
Most of the commodities are sourced from China. Products are exported to India, other Asian countries or Australia.
Yogiraj Gogia currently is buying LEDs from China. He usually attends fairs and exhibitions which are held in Hong Kong.
Yogiraj Gogia has graduated from University of Melbourne, Australia. He got a Bachelor Degree on Commerce, Marketing and Management in 2011. He had worked in Australia for one or two months, then, he came to Hong Kong and set up the subject. In order to seek for more trading opportunities, he attends fairs and exhibitions in India, China and Hong Kong. To our knowledge, he is also a buyer of Tex-Trends India 2012.
The subject is just a two-man company. Business is chiefly handled by the two partners, especially by Yogiraj Gogia. History in Hong Kong is just over a year.
On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.69 |
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UK Pound |
1 |
Rs.89.20 |
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Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.