|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ORIENT
RESOURCES COMPANY |
|
|
|
|
Registered Office : |
Room 501, 5/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
27.11.2006 |
|
|
|
|
Com. Reg. No.: |
15167055-044-09 |
|
|
|
|
Legal Form : |
Sole Ownership |
|
|
|
|
Line of Business : |
Subject is a importer of Almonds, pistachios, silica gel, confectionery, biscuits, chocolates, candy and exporter of Cassia, star aniseeds, fennel seeds, ginger, turmeric, cumin seeds, black pepper, coriander seeds, raisins, galangal roots, hibiscus, cassia oil, star aniseed oil, red kidney beans, white kidney beans, light speckled kidney beans, pigments, dyestuff, organic chemicals, broad beans, red speckled kidney beans, myrobalans, licorice, cashew nuts, wet dates, dried apricots, cloves, chillies, senna leaves, green nung beans, pistachios inshell, etc. |
|
|
|
|
No. of Employees : |
07. (Including parent) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
ORIENT RESOURCES COMPANY
Room 501, 5/F., Qualipak Tower, 122 Connaught Road East, Hong Kong.
PHONE: 2517 2316, 2517 3690
FAX: 2517 8741
E-MAIL: orient@regencyworld.com
Manager: Mr. Nilesh Gopaldas Dattani
Establishment: 27th November, 2006.
Organization: Sole Ownership.
Capital: Not disclosed.
Business Category: Native Produce and Spices Trader.
Annual Turnover: HK$70-90 million.
Employees: 7. (Including parent)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
Head Office:-
Room 501, 5/F., Qualipak Tower, 122 Connaught Road East, Hong Kong.
Parent Company:-
China Business Ltd., Hong Kong.
Sister Companies:-
Agrofood (China) Industrial Co., Hong Kong.
China Pacific Enterprises Co., Hong Kong.
Hongkong & China Cargo Surveyors, Hong Kong.
[Business ceased on 18-09-1998]
15167055-004-09
Manager: Mr. Nilesh Gopaldas Dattani
China Business Ltd., Hong Kong. (See attachment)
The subject was established on 27th November, 2006 as a sole ownership firm with China Business Ltd. as the proprietor under the Hong Kong Business Registration Regulations.
The subject was initially located at 804, 8/F., Western Centre, 48 Des Voeux Road West, Hong Kong, moved to Room 305, 3/F., Wing Yue Building, 60‑64 Des Voeux Road West, Hong Kong in July 1992, and further to Room 506, 5/F., Lucky Commercial Centre, 103-109 Des Voeux Road West, Hong Kong in May 1994.
On 17th December, 2007, this firm ceased business.
On 27th November, 2006 another firm which is the current subject company bearing the same name was established. It is located at the present address.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer and Exporter.
Lines:-
IMPORTS: Almonds, pistachios, silica gel, confectionery, biscuits, chocolates, candy.
EXPORTS: Cassia, star aniseeds, fennel seeds, ginger, turmeric, cumin seeds, black pepper, coriander seeds, raisins, galangal roots, hibiscus, cassia oil, star aniseed oil, red kidney beans, white kidney beans, light speckled kidney beans, pigments, dyestuff, organic chemicals, broad beans, red speckled kidney beans, myrobalans, licorice, cashew nuts, wet dates, dried apricots, cloves, chillies, senna leaves, green nung beans, pistachios inshell, etc.
Employees: 7. (Including parent)
Commodities Imported: Mainly imported from China, India, other Asian countries, etc.
Markets: Hong Kong, Southeast Asia, etc.
Annual Turnover: HK$70-90 million.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Capital: Not disclosed.
Profit & Loss: Traded at a small profitable angle.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Good.
Bankers:-
l The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
l Bank of India, Hong Kong Branch.
Standing: Normal.
Orient Resources Company is a trading firm wholly-owned by China Business Ltd. [CBL] which is a Hong Kong-registered firm. Both of the subject and CBL are administered by Mr. Nilesh Gopaldas Dattani who is an Indian.
The subject is part of an international group of companies in Hong Kong, Singapore, India, China and the United Arab Emirates. The personnel of the subject have been engaged in importing, exporting, manufacturing a diversified range of food products since 1951. The subject has got an associated company in China.
The predecessor of the subject, bearing the same name, was established on 1st December, 1991.
The subject, a Division of CBL, is the first ISO9001 certified exporter in China has been specialized in exporting Spices since 1991 with an annual exports over US$9 million to more than 30 countries of the world.
Having its own sourcing/processing facilities in China, Hong Kong, India and the United Arab Emirates, the subject’s REGENCY Brand Cassia, Ginger, Garlic, Green Raisins, Agar, etc. are rather well known around the world. For instance, Green Raisins supplied by the subject are 100% natural product which is free from added chemicals, colour or oil. Cassia (in whole or in broken form) provided by the subject is of top quality, and is also guaranteed free from wetting/mixing and in conformity with the European Union standards. So does its Star aniseeds and other products.
The subject is
trading in the following products:-
Mushroom - Canned, Nut - Dried (Pistachios), Fruit - Preserved (Dry raisins), Peanut & Bean - Roasted / Preserved (Peanuts), Sauce & Seasoning (Cassia whole/group, ginger whole, star aniseeds, garlic powder/flakes, Szechwan pepper, minced spices puree), Gourmet Powder (Garlic Powder, Garlic Granules, Garlic Flakes), Pepper (Sichuan Pepper), Spice (Include ground spices, Cassia, Star Aniseeds, Cloves, Chillies from China & Dubai), Sugar - Granular Or Cube (Lump sugar), Dehydrated Food, etc.
The subject is exporting over 130 types of products to more than 25 countries. The countries are in Central & South America, the Middle East, North America, Southeast Asia, Western Europe, etc. The subject is a significant native produce and spices trader as well as a commission agent.
With network spread out across Asia, the subject is sourcing fresh and dried agricultural raw materials and products as in India and the other Asian countries.
The subject has got three sister companies, namely, China Pacific Enterprises Co., Agrofood (China) Industrial Company and Hongkong & China Cargo Surveyors. The first and second are engaged in the same lines of business as the subject, more or less, while the third has ceased business since 18th September, 1998. The first and second firms are located at the same address as the subject.
On the whole, in view of the subject’s parentage and background, consider it good for normal business engagements.
CHINA BUSINESS LTD.
4/F., Wing Sing Commercial Centre, 12-16 Wing Lok Street, Sheung Wan, Hong Kong.
0326915
24th September, 1991.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry
dated 24-09-2012)
|
Name |
|
No. of shares |
|
Nilesh Gopaldas DATTANI |
|
999,999 |
|
Rashmi Nilesh DATTANI |
|
1 |
|
|
|
–––––––– |
|
|
Total: |
1,000,000 ======= |
(As per registry
dated 24-09-2012)
|
Name (Nationality) |
Address |
|
Nilesh Gopaldas DATTANI |
5/F., Qualipak Tower, 122 Des Voeux Road West, Hong Kong. |
|
Rashmi Nilesh DATTANI |
5/F., Qualipak Tower, 122 Des Voeux Road West, Hong Kong. |
(As per registry
dated 24-09-2012)
|
Name (Nationality) |
Address |
|
AU Ping Yun |
4/F., Wing Sing Commercial Centre, 12-16 Wing Lok Street, Sheung Wan, Hong Kong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.69 |
|
UK Pound |
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.