|
Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
TAITAN
TRADING |
|
|
|
|
Registered Office : |
Room D2, 3/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road,
Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
04.05.2009 |
|
|
|
|
Com. Reg. No.: |
50688046-000-05 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of
all kinds of mobile phones, electronic products, etc |
|
|
|
|
No. of Employees : |
02 employees |
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 : |
Small Company |
|
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 |
A1 |
A1 |
|
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 |
TAITAN TRADING
Room D2, 3/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2722 4242, 2722 4222
FAX: Not Available
Manager: Mr. Anvar Hussain Sehu Jalaludeen
Establishment: 4th May, 2009.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Mobile phone trader.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
Room D2, 3/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
50688046-000-05
Manager: Mr. Anvar Hussain Sehu Jalaludeen
Name: Mr. Anvar Hussain SEHU JALALUDEEN
Residential Address: Door
No. 13/32, 500 Flat, Kilakarai-Post, Ramnad‑District, India.
The subject was established on 4th May, 2009 as a Sole Proprietorship concern owned by Mr. Anvar Hussain Sehu Jalaludeen under the Hong Kong Business Registration Regulations.
Formerly the subject was located at Room D2, 4/F., 40 Nathan Road, Chung King Mansion, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in July 2011.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of mobile phones, electronic products, etc.
Employees: 2.
Commodities Imported: China and acquired from local suppliers.
Markets: India, other Asian countries, Africa, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
Capital: Not disclosed.
Profit or Loss: Made a small profit in 2011.
Condition: Business has been normal.
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.
Taitan Trading is a sole proprietorship set up and owned by Mr. Anvar Hussain Sehu Jalaludeen who is an Indian. Being the manager of the subject, he is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject commenced business in May 2009.
The subject does not have its own operating office. Its registered address is in a private building located at Room D2, 3/F., Tsim Sha Tsui Mansion, 83‑97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. This is also the residence of Sehu Jalaludeen when he is in Hong Kong. We can contact Sehu Jalaludeen at your given phone number 2722 4242.
According to Sehu Jalaludeen, the subject is a mobile phone and electronic product importer, exporter and wholesaler.
Most of the commodities are imported from China or acquired from local suppliers. Prime markets are India, other Asian countries, Africa, the Middle East, etc.. Business is fairly active.
The subject has two employees in Hong Kong. It also has had a branch company in India which is employing about 4 to 5 persons.
The history of the subject in Hong Kong is just over three years.
Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on secured basis or in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.75 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.69.04 |
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.