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Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
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Name : |
RAN’S
INTERNATIONAL |
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Registered Office : |
Flat B, 9/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.04.1986 |
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Com. Reg. No.: |
10212861-000-04 |
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Legal Form : |
Partnership |
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Line of Business : |
Trader of Piecegoods - Vegetable Fibre (Cotton), Blended, Jeans, Shirts, Trousers, Children’s Wear, Bags, Footwear, Ladies’ Shoes, Sandals, Slippers, Clocks, Key Chains / Holders, Souvenirs & Premiums |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Concern |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Hong Kong |
A2 |
A1 |
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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 levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. 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 |
RAN’S INTERNATIONAL
Flat B, 9/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2739 8026, 2366 3578, 2367 0761
FAX: 852-2369 7071
E-MAIL: rans@biz.netvigator.com
Manager: Mr. Rajinder Assandas Narwani
Establishment: 1st April, 1986.
Organization: Partnership
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat B, 9/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.
Sister Concern:-
Miller’s Original Fashion’s, Hong Kong. (same address)
10212861-000-04
Manager: Mr. Rajinder Assandas Narwani
Name: Mr. Rajinder Assandas NARWANI
Residential Address: 11/F.,
Block F, Golden Crown Court, 66-70 Nathan Road, Kowloon, Hong Kong.
Name: Ms. Radhabai Assandas NARWANI
Residential Address: 11/F.,
Flat F., Golden Crown Court, 66-70 Nathan Road, Kowloon, Hong Kong.
The subject was established on 1st April, 1986 as a partnership concern owned by Rajinder Assandas Narwani and Ms. Radhabai Assandas Narwani under the Hong Kong Business Registration Regulations.
At the very beginning, the subject was located at 1/F., Mirador Mansion, 54‑64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to Block B, 12/F., Windsor Mansion, 29 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in March 1988; to Room 4, Block A, 4/F., Burlington House, 90‑94 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in September 1998; to Room B, 4/F., Fareast Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong in August 2012, and further to the present address in late August 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Fabrics, jeans, shirts, trousers, souvenirs, premiums.
Employees: 2.
Commodities Imported: India, China, other Asian countries, etc.
Markets: Central & South America, Middle East, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
Condition: Keeping in a normal manner.
Facilities: Making rather 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.
Ran’s International is a partnership jointly owned by Mr. Rajinder Assandas Narwani and Ms. Radhabai Assandas Narwani, both of whom are Indian. They are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
Rajinder Assandas Narwani can be reached at his Hong Kong mobile phone number 852-9460 2853.
Established in April 1986, the subject is
trading in the following commodities:
Piecegoods - Vegetable Fibre (Cotton), Piecegoods - Blended, Jeans, Shirts, Trousers, Children’s Wear, Bags, Footwear, Ladies’ Shoes, Sandals, Slippers, Clocks, Key Chains / Holders, Souvenirs & Premiums.
Most of the commodities are sourced from India, China, the other Asian countries or acquired from local suppliers. Commodities are chiefly exported to Central & South America, the Middle East, North America, etc. It is also engaged in partnering with overseas firms to explore China market for textile product especially for dresses, shirts. Business in normal.
The subject is an international purchaser. It has been taking part in the Canton Fair which is held in Guangzhou, Guangdong Province, China biannually.
The subject has had a sister concern known as Miller’s Original Fashion’s [MOF], a Hong Kong-registered concern local at the same address. It is a tailor. It is engaged in tailor making suites, coats, dresses for local customers. MOF is also owned and operated by the two partners.
The subject’s business is chiefly handled by the two partners. History in Hong Kong is over 27 years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
UK Pound |
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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-- |
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.