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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
UNI TRADE |
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Registered Office : |
1/F., Minden Apartments, 1 Minden Row, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.04.2012 |
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Com. Reg. No.: |
54278968-000-04 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
TRADER
OF MOBILE PHONE |
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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 Company |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
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.
Source
: CIA
UNI TRADE
ADDRESS:
Registered Office:-
1/F., Minden Apartments, 1 Minden Row, Tsimshatsui, Kowloon,
Hong Kong.
54278968-000-04
12th April, 2012.
Sole Proprietorship
Name: Mr. Mohamed Labbe MOHAMED
YOONUS
Residential Address: 1/F.,
Minden Apartments, 1 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
Uni Trade is a sole proprietorship set up and owned by Mr. Mohamed Labbe
Mohamed Yoonus who is an Indian. Being
the manager of the subject, Mohamed Yoonus is a Hong Kong ID holder and has got
the right to reside in Hong Kong permanently.
The subject commenced business just in April, 2012.
The subject does not have its own operating office. Its registered address is in a private
building located at 1/F., Minden Apartments, 1 Minden Row, Tsimshatsui,
Kowloon, Hong Kong. This is the
residence of Mohamed Yoonus.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
Last time, as per your provided mobile phone number 9745 3940, we
reached a staff of the subject (he said he was Mr. Mohamed Labbe Mohamed
Yoonus) who was in Hong Kong. The
respondent said the subject was a loose diamond importer, exporter and
wholesaler.
This time your provide us a new mobile phone number 9497 8926, we are
able to reach another person of the subject.
The respondent said he was Mohamed Labbe Mohamed Yoonus. This time the respondent said the subject is
a mobile phone trader. His products are
just mobile phone only. Most of mobile
phones are imported from China or acquired from local suppliers. The subject exports its products to India and
some of the European countries. Business
is under development.
The subject is just trading in mobile phones only, not loose
diamonds. The subject has confirmed this
time.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. It has got a
US dollar account.
The subject’s business is chiefly handled by Mohamed Yoonus and Mohamed
Lebbe. History in Hong Kong is just over
two months.
Since the registered office of the subject is in a residential building
and its history is short in Hong Kong, on the whole, consider it good for
normal business engagements on L/C basis.
We had tried to reach Mohamed Labbe Mohamed Yoonus at the old phone
number 9745 3940 but nobody answer our calls.
This time we had complain to Mohamed Yoonus for the wrong information he
provided to us last time. But he just
said he want to “investigate”. We have
told him the old phone number.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.90 |
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|
1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.