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Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITED QUADRANT SOLUTION LTD. |
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Registered Office : |
C/o Asia-Pacific Business Centre Room 2207-09, 22/F., Lippo Centre, Tower 2, Admiralty |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.06.2013 |
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Com. Reg. No.: |
61580524 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Gates, Flush Doors, Gems & Jewellery, Home Furnishing Products, Garments |
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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 Business |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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
UNITED QUADRANT
SOLUTION LTD.
Address: c/o Asia-Pacific
Business Centre
Room
2207-09, 22/F., Lippo Centre, Tower 2,
Admiralty,
Hong Kong.
Note: Your given another address
“Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun Tong, Kowloon, Hong
Kong” is the operating address of the subject’s corporate secretary.]
PHONE: 852-2530 8888
FAX: 852-2530 8100
Managing Director: Mr. Swapan
Kumar Bose
Incorporated on: 11th
June, 2013.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Too early to
comment.
Registered Head Office:-
c/o Asia-Pacific Business Centre
Room 2207-09, 22/F., Lippo Centre, Tower 2, Admiralty, Hong Kong.
Associated Company:-
Swapnica Exim Trading Corporation Pvt. Ltd.
104/126, Meera Marg, Agarwal Farm, Mansarovar Jaipur, 302020, Rajasthan,
India. [Tel.: 91-141-2786469, 2786470]
61580524
1921790
Managing Director: Mr. Swapan
Kumar Bose
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 11-06-2013)
|
Name |
|
No. of shares |
|
Swapan Kumar BOSE |
|
10,000 ===== |
(As per registry dated 11-06-2013)
|
Name (Nationality) |
Address |
|
Swapan Kumar BOSE |
104/126, Meera Marg, Agarwal Farm, Mansarovar Jaipur, 302020,
Rajasthan, India. |
(As per registry dated 11-06-2013)
|
Name |
Address |
Co. No. |
|
Kaizen Secretaries Ltd. |
Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun Tong,
Kowloon, Hong Kong. |
0640440 |
The subject was incorporated on 11th June, 2013 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,
Exporter and Wholesaler.
Lines: Gates, Flush Doors, Gems & Jewellery,
Home Furnishing Products, Garments.
Employees: Nil.
Commodities Imported: China, other Asian countries, etc.
Markets: India,
other Asian countries, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: L/C,
T/T, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to
offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general
banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Too early to comment.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, United Quadrant
Solution Ltd. is wholly owned by Mr. Swapan Kumar Bose. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 2207-09, 22/F., Lippo Centre, Tower 2, Admiralty,
Hong Kong known as Asia-Pacific Business Centre which is handling its
correspondences and documents. Its
corporate secretary Kaizen Secretaries Ltd. is located at Room 2103, 21/F.,
Futura Plaza, 111 How Ming Street, Kwun Tong, Kowloon, Hong Kong.
The subject has no employees in Hong Kong.
It has had an associated company Swapnica Exim Trading Corporation Pvt.
Ltd. [SETC] which is an India-based firm.
The subject is trading in the same commodities as SETC.
SETC is a house of complete manufacturer, trader, wholesaler, retailer,
exporter and importers of: incredible gates, imported flush door, gems and
jewellery, home furnishing and garments.
Incepted in 2010, SETC is a Jaipur-based company in India. It is due to increasing requirements of
security and flash gates, it is catering to the needs of sundry segments for
products. It has had an importing
platform for Incredible Gates and fully functional advanced numerical control
production lines.
SETC is envisioning as a security on entrance gates control products
company that pioneers innovations. Its
service and personnel have helped it to be one of the market leaders in
Imported Flush Door. It has also proved
the same for its Security Gates, Security Barriers.
SETC is a well known brand in the Indian Building Material Industry and
have the India Environmental Label Products, with ISO 9001:2008 certification. In the year 2011, SETC is the front line
promoter of the concept ‘Full Stainless Steel, Stainless Steel and Aluminium
alloy Incredible Gate’. It will bring
boom to refresh Indian Market with its flagship product “Incredible Gate” in
the segment of Gates.
According to SETC, it imports and exports Incredible Gates, Imported
Flush Door. However, it is trading in
all kinds of commodities, including gems & jewellery, garments and textile
products, home furnishing products, accessories, etc. It is engaged in manufacturing home
furnishing products and garments.
SETC has set up retailing outlets in India which are retailing all kinds
of products.
SETC has an extensive client base in the United Kingdom, the United
States, Germany (Europe), Canada and the Middle East as well as have the India
Environmental Label Products. SETC
products have great specifications and technically sound which suits all types
of business and non business entities.
The CEO of SETC is also Swapan Kumar Bose who is the only shareholder of
the subject.
SETC deals with foreign parties under the name of the subject and let
foreign firms correspond with the subject’s registered address in Hong
Kong. SETC also exports commodities to
foreign markets under the name of the subject and its registered address in
Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a month.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
DIAMOND INDUSTRY – INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
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The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
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Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
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Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
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Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
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The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
|
|
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
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 |
|
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 |
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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.