|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEE JAY ENTERPRISES
(HK) LTD. |
|
|
|
|
Registered Office : |
Flats B & C, 12/F., Wing Cheong Commercial Building, 19-25 Jervois
Street, Sheung Wan |
|
|
|
|
Country : |
Hong Kong. |
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|
|
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Date of Incorporation : |
25.06.1996 |
|
|
|
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Com. Reg. No.: |
19988201 |
|
|
|
|
Legal Form : |
Private Limited
Company. |
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|
|
|
Line of Business : |
Importer and Re-exporter all kinds of sundry goods such as batteries, flash lights, electric appliances, electronic of products, underwear, telephones, etc. |
|
|
|
|
No. of Employees : |
6. |
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 |
BEE JAY ENTERPRISES
(HK) LTD.
ADDRESS: Flats B & C, 12/F., Wing Cheong Commercial
Building, 19-25 Jervois Street, Sheung Wan, Hong Kong.
PHONE: 2121 0122, 2541 5333,
2541 6479, 2541 6542
FAX: 2545 8505
E-MAIL: bhavna@beejay.com.hk
bhavna@netvigator.com
Managing
Director: Mr. Kamlesh Lilaram Hemlani
Establishment: 4th December, 1985. (Partnership)
Incorporated on: 25th June, 1996.
Organization: Private Limited Company.
Capital: Nominal: HK$4,000,000.00
Issued: HK$4,000,000.00
Business Category: Trading in sundry goods.
Employees: 6.
Main Dealing
Banker: Citibank N.A., Hong
Kong Branch.
Banking
Relation: Satisfactory.
Registered Head Office:-
Flats B & C, 12/F.,
Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan, Hong Kong.
19988201
0554039
Managing
Director: Mr. Kamlesh Lilaram Hemlani
Nominal Share Capital:
HK$4,000,000.00 (Divided into 40,000 shares of HK$100.00 each)
Issued Share
Capital: HK$4,000,000.00
(As
per registry dated 25-06-2012)
|
Name |
Occupation |
No.
of shares |
|
Mrs.
Ritika K HEMLANI |
Merchant |
8,000 |
|
Mr. Kamlesh Lilaram HEMLANI |
Merchant |
32,000 |
|
|
|
–––––– |
|
|
Total: |
40,000 ===== |
(As
per registry dated 25-06-2012)
|
Name (Nationality) |
Address |
|
Mrs. Ritika K
HEMLANI |
Flat 01, 19/F., Block B, Parkway Court, 4
Park Road, Hong Kong. |
|
Mr.
Kamlesh Lilaram HEMLANI |
Flat 01, 19/F., Block B, Parkway Court, 4
Park Road, Hong Kong. |
(As
per registry dated 25-06-2012)
|
Name |
Address |
Co.
No. |
|
Goodwill
International Management Consultants Ltd. |
Room 1902, 19/F., Workington Tower, 78, Bonham Strand, Hong Kong. |
831193 |
The
subject, originally named as Bee Jay Enterprises, was established on 4th December,
1985 as a partnership concern jointly owned by Lilaram Murajmal Hemlani and
Kamlesh Lilaram Hemlani under the Hong Kong Business Registration No.
10020135-000-12. Converted into a
partnership firm jointly owned by Thakur Das Hemlani and Kamlesh Lilaram
Hemlani while the former was admitted as a partner on 25th February, 1987 and
Lilaram Murajmal Hemlani retired on 6th April, 1988. The subject re‑organized and
incorporated on 25th June, 1996 as a private limited liability company under
the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Re-exporter.
Lines: All kinds of sundry
goods such as batteries, flash lights, electric appliances, electronic
products,
underwear, telephones, etc.
Employees: 6.
Commodities
Imported: Mainly imported from China,
other Asian countries, etc.
Markets: India, Southeast Asia, Europe, West
Africa, North America, South America, etc.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: COD
or as per contracted.
Nominal Share
Capital: HK$4,000,000.00 (Divided into 40,000 shares of HK$100.00 each)
Issued Share
Capital: HK$4,000,000.00
Alternation
of Capital:-
|
Initially |
paid up |
HK$2,000,000.00 |
|
July 2000 |
paid up |
HK$2,000,000.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
HK$4,000,000.00 ============== |
Mortgage or Charge
(since June 2010): (See attachment)
Profit &
Loss:Business is profitable.
Condition: Keeping in a satisfactory manner.
Facilities: Actively using general banking facilities.
Payment: Met as required.
Commercial
Morality: Satisfactory.
Bankers:-
Citibank N.A.,
Hong Kong Branch.
BNP Paribas,
Hong Kong Branch.
Bank of India,
Hong Kong Branch.
Indian Overseas
Bank, Hong Kong Branch.
Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
Standing: Good.
Having
issued 40,000 ordinary shares of HK$100.00 each, Bee Jay Enterprises (HK) Ltd.
was jointly owned by Mr. Thakur Das Hemlani, holding 60% interests, and Mr.
Kamlesh Lilaram Hemlani, holding 40%.
Both were Indian and had been in Hong Kong for a very long time.
In
2005, the shareholders changed to Mr. Kamlesh Lilaram Hemlani, holding 80%,
while his wife, Mrs. Ritika K Hemlani, holding 20%.
The
subject is a small-sized trading firm engaged in importing and re‑exporting
of sundry goods such as batteries, flash lights, electrical appliances,
electronic products, etc.
It
is carrying the following commodities:-
·
Audio & Video Equipment;
·
Batteries;
·
Calculators;
·
Christmas Decorations;
·
Flashlight (Torches) - B/O;
·
Padlocks;
·
Shoes - Textile (Canvas);
·
Telephone & Telephone Equipment;
·
Toys, Others (Plastic);
·
Truck Tyres;
·
Underwear - Men’s; &
·
Vacuum Flasks.
Commodities
are mainly sourced from China, other Asian countries. Its re‑exported markets are India, West
Africa, Europe, North America, South America, etc.
The
subject’s predecessor was a partnership concern known as Bee Jay Enterprises
which was established on 4th December, 1985.
The
subject has developed long terms and good business ties with some of the
suppliers and buyers in India. Business
has been rather active.
The
business of the subject is chiefly handled by the Indian couple.
The
subject is located at its own premises which have been mortgaged to Delta Asia
Credit Ltd. on 13th January, 2001.
As
the history of the subject is over 27 years in Hong Kong, on the whole,
consider it good for normal business engagements.
(Since June 2010)
|
Date |
Particulars |
Amount |
|
08-06-2010 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive No.
of Receipt: 2010 FD 103 1 Date of
Receipt: 08-06-2010 Amount of
Deposit: US$231,847.69 Rate of
Interest: 1.35% Maturity Date of
Deposit: 06-12-2010 Mortgagee: Indian
Overseas Bank, Hong Kong Branch. |
All liabilities |
|
13-07-2010 |
Instrument: Deposit
Deed Property: By way of a first
fixed charge and as a continuing security for the Obligations, the company
charges and assigns absolutely all its right, title to and interest in the
accounts and all deposits from time to time in the accounts and comprising
the account maintained with the Bank Mortgagee: Citibank
N.A., Hong Kong Branch. |
All moneys now or at any time in the future owing by the company |
|
26-07-2011 |
Instrument: Legal
Charge / Mortgage Property: All Those 180/29,765
parts or shares of and in The Remaining Portion of Sections E , G & H of
Inland Lot No. 591, Section A of Subsection 1 of Section I of Inland Lot No.
591, The Remaining Portion of Subsection 1 of Section I of Inland Lot No.
591, The Remaining Portion
of Section I of Inland Lot No. 591 Section J, K and M of Inland Lot No. 591
The Remaining Portion of Section L of Inland Lot No. 591 and The Remaining
Portion of Inland Lot No. 591 (Flat 01, 19/F., Block B, Parkway Court, Hong
Kong.) Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure all sum moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.