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Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
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Name : |
PARPIA INTERNATIONAL PTE LTD. |
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Registered Office : |
Unit 26 & 36, 10/F., Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
19623956-000-01 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Crust leather materials. |
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No. of Employees : |
8. |
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 (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
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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'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
PARPIA INTERNATIONAL
PTE LTD.
(Incorporated in Singapore)
ADDRESS: Unit 26 & 36, 10/F.,
Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 2305 1683
FAX: 2757 5898
E-MAIL: leather@parpia.com.hk
Regional Director: Mr. Lee Ka
Ming, Gary
Incorporated in Singapore in: 1982.
Established in Hong Kong on: 1st
January, 1996.
Organization: Representative
Office in Hong Kong.
Capital:
Provided
by Head Office in Singapore.
Business Category: Importer, Exporter and Wholesaler.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
19 Eastpoint Terrace, Kaki Bukit Road 3, Singapore 415881.
[Tel: (65) 6748 3616, 6748 3667,
Fax: (65) 6748 7047
E-mail: leather@parpia.com.sg]
Hong Kong Representative Office:-
Unit 26 & 36, 10/F., Metro Centre II, 21 Lam Hing Street, Kowloon
Bay, Kowloon, Hong Kong.
Other Regional Offices:-
China Office
Unit
1403, 14/F., West Tower, 138 Zhong Shan Da Dao Xi, Guangzhou 510630, Guangdong
Province, China.
Tel: (86-20) 3876 7008, 3876 7307
Fax: (86-20) 3876 7136
E-mail: leather@parpiachina.com.cn
India Office
Parpia
International (India) Pvt. Ltd.
No. 38/4 Murugesan Street, Kodambakkam, Chennai 600024, India.
Tel: (91-44) 3058 5860
Fax: (91-44) 3058 5868
E-mail: exports.leather@parpia.co.in
imports.leather@parpia.co.in
Associated Company:-
Lanfranco Ltd., Hong Kong.
[Dissolved]
19623956-000-01
Managing Director: Mr. Altaf
Parpia
Regional Director: Mr. Lee Ka
Ming, Gary
[Address: 1/F., 77 Mok Tse
Che, Sai Kung, New Territories, Hong Kong.]
The subject was incorporated in Singapore in 1982 as a private limited
company. It has established a
representative office in Hong Kong on 1st January, 1996 under the
Hong Kong Business Registration Regulations.
Originally the subject was registered under the name of Parpia
International (Singapore) Pte. Ltd., name changed to Parpia Internation Pte.
Ltd. on 18th July, 1996; and further to the present style on 2nd June,
1997.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Crust
leather materials.
Employees: 8.
Commodities Imported: Europe, India, Brazil, etc.
Markets: China,
other Asian countries, Europe, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Capital: Provided
by its Head Office in Singapore.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory and active condition.
Facilities:
Making active
use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Good.
Formerly known as Parpia International (Singapore) Pte. Ltd., Parpia
International Pte Ltd. is the Hong Kong representative office of the Singapore
firm Parpia International Pte Ltd. [PIPL].
PIPL was incorporated in Singapore in 1982 by Managing Director
Mr. Altaf Parpia. Mr. Altaf Parpia
is the son of the late Mr. Ahmedali Parpia (1921‑1984), a well known
figure in the Indian leather industry.
Greatly influenced by his father’s foresight and work precepts, Mr.
Altaf Parpia has expanded the business of PIPL significantly. Under his leadership, PIPL quickly gained a
reputation in the leather trade all over the world.
The subject is engaged in the same lines of business as PIPL. Now, PIPL is specialized in the sales of
leather originating from India, Pakistan, Bangladesh and Brazil. The leather are the raw materials for the
manufacturing of shoes, industrial boots, handbags, leather goods, leather
garments, upholstery, etc.
PIPL has one of the finest leather sales teams in the world, and
supplies a wide range of finished and crust leathers to the customers in
Europe, Asia, Africa, Australia, North and South America.
PIPL’s wide range of leathers comprise of full-chrome and vegetable
tanned glazed upper kid, suede upper kid, glazed and burnishable buff calf shoe
upper and handbag leathers, sheep garment nappa, goat garment suede, sheep
cabretta shoe upper leather, cow and cowcalf upper leathers in various
finishes, cow and goat linings in drum-dyed, glazed and resin finishes. It is also specialized in printed heavy
buffalo for industrial footwear, cow and buffalo leathers for upholstery and
sole leather.
PIPL holds substantial stocks of the above leathers in its warehouse to
give customers the convenience of immediate delivery. It is also the exclusive distributor for
several premier tanneries in India, Pakistan, Bangladesh, Argentina, Brazil and
Italy.
PIPL is a well-established leather supplier offering a wide range of
cow, buffalo, goat and sheep leathers for shoes, handbags, leather goods,
leather garments and leather upholstery.
Leather produced by its associated tanneries in India, Pakistan,
Bangladesh, Brazil, Italy and many other countries are supplied to renowned
shoe, handbag and leather garment manufacturers all over the world. PIPL’s various types of leather are sourced
from India, Pakistan, Italy, Kenya, China, Brazil, Mexico, Bangladesh, etc.
The sales managers of PIPL are Mr Charlie Ang, Mr Michael Chew, Mr Said
Ahmad, etc.
PIPL trades in the following main products:-
1.
Buffalo Leather
2.
Calf Leather
3.
Garment Leather / Calf
4.
Garment Leather / Cow
5.
Garment Leather / Lamb
6.
Gloving Leather
7.
Goat Leather
8.
Industrial Leathers
9.
Kid Leather
10.
Lining Leather
11.
Nappa Leather / Calf
12.
Nappa Leather / Cow
13.
Nappa Leather / Goat
14.
Skivers
15.
Slink Skin Leather
16.
Sole Leather
17.
Splits / Upper Leather
18.
Upholstery / Automotive
19.
Upholstery / Furniture
20.
Veg Tanned Leather
PIPL has had an affiliated company in India known as Parpia
International (India) Pvt. Ltd. [India PIPL].
This firm commenced operation in April 1994 to serve the needs of the Parpia
International Group. Its principal
activities are the sourcing of finished leathers and shoe uppers on behalf of
PIPL.
India PIPL also sells a very wide range of raw, wet-blue and crust goat,
sheep, cow hides and calf leathers from various countries including China,
Brazil, the United Kingdom, Russia, the United States, Australia, Kenya,
Uganda, Bangladesh, Nigeria, Saudi Arabia, etc. to Indian Tanneries. It also offers a wide variety of finished
leathers from Argentina, Brazil, Mexico, Taiwan, Pakistan, etc. to the emerging
shoe, leather goods and leather garment manufacturers in India. India PIPL is in Chennai, India.
Besides the India PIPL, PIPL has had an associated company in China
bearing the same name of the subject [China PIPL]. Located in Guangzhou City, Guangdong
Province, China, China PIPL is managed by a Chinese.
The subject had an affiliated company in Hong Kong known as Lanfranco
Ltd., located at the same address, which has been dissolved by deregistration.
As the history of the subject is over seventeen 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.55.33 |
|
|
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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.