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Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
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Name : |
R. J. EXPORTS |
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Registered Office : |
Room 803, 8/F., Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.06.1999 |
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Com. Reg. No.: |
30146729-000-06 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer and Exporter of all kinds of diamonds and colour gemstones, etc. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
R. J. EXPORTS
Room 803, 8/F.,
Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2376 3477, 2333 0710
FAX: 2376 3693
E-MAIL: zaveri@netvigator.com
Manager: Mr. Rakesh Zaveri
Establishment: 9th June, 1999.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Annual Turnover: HK$50~55 million.
Employees: 6. (Including affiliate)
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
R. J. EXPORTS
Head
Office:-
Room 803, 8/F.,
Tower 2, Harbour Centre, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Affiliated
Company:-
J. K. Gems, Hong
Kong. (Same address)
30146729-000-06
Manager: Mr. Rakesh Zaveri
Name: Mr. Rakesh ZAVERI
Residential
Address:
Flat A, 8/F., Bo
Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
The
subject was established on 9th June, 1999 as a sole proprietorship concern
owned by Mr. Rakesh Zaveri under the Hong Kong Business Registration
Regulations.
At
the very beginning, the subject was located at Flat B, 8/F., Bo Yip Building, 6
Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
April 2007. The old address is the
residence of the sole proprietor.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of diamonds and colour gemstones, etc.
Employees: 6. (Including affiliate)
Commodities Imported: India, Belgium, other European countries, US, etc.
Markets: Asian countries, Western Europe, etc.
Annual Turnover: HK$50~55 million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Business is normal and steady.
Facilities: Making rather active use of general banking facilities.
Payment: Met obligations as contracted.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Small.
R.J.
Exports is a sole proprietorship set up and owned by Mr. Rakesh Zaveri who is
an Indian and has been in Hong Kong for a very long time as he is a Hong Kong
ID Card holder.
Business
commenced in June 1999, the subject is trading in loose diamonds, emerald,
precious stones, ruby jade, gem stones, semi-precious stones, blue or coloured
sapphire, etc. It imports diamond from
the United Sates, India, Belgium; imports gem stones, ruby and jade from
Belgium, India, Israel, South Africa, etc.
However, India is its main supplying country. After processing and cutting in Hong Kong or
China, finished products are marketed in Hong Kong, exported to Japan,
India, other Asian countries, Western Europe, etc. Business is steady.
The
subject is famous for its coloured gemstones.
The
subject’s business is chiefly handled by Zaveri himself who is the sole
proprietor. Products are marketed in
Hong Kong, exported to China and the other Asian countries, etc.
The
subject has got an affiliated company J. K. Gems located at its operating
address. J. K. Gems is also a diamond
and gem stone trader. Business is
handled by Mr. Jayant Kumar Kantilal Jhaveri who is also an Indian. J. K. Gems is a member of The Indian Chamber
of Commerce Hong Kong, Hong Kong.
This firm was established on 9th September, 1970.
The
annual sales turnover of the subject ranges from HK$50 to 55 million. Making a small profit every year.
Since
the history of the subject is over thirteen years in Hong Kong, on the
whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.