|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAM HAN INDUSTRIAL LTD. |
|
|
|
|
Registered Office : |
Room 1012-1013, 10/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
03.04.1987. |
|
|
|
|
Com. Reg. No.: |
10950556 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Transhipment Agent. Importer and Exporter of Footwear machinery and equipment, Building Materials, Hardware |
|
|
|
|
No. of Employees : |
9. (Office staff) |
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 – 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 |
|
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
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
KAM HAN
INDUSTRIAL LTD.
ADDRESS: Room 1012-1013, 10/F., Beverley
Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2368 1383
FAX: 852-2368 2968
E-MAIL: kamhan@kamhan.com
Managing Director: Mr. Keshari
Chand Chhajer
Incorporated on: 3rd
April, 1987.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$3,000,000.00
Business Category: Importer and Exporter; Transhipment Agent.
Annual Turnover: HK$25~30
million.
Employees: 9.
(Office staff)
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Head Office:-
Room 1012-1013, 10/F., Beverley Commercial Centre, 87-105 Chatham Road
South, Tsimshatsui, Kowloon, Hong Kong.
Mailing Address:-
P.O. Box 97732, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
China Offices:-
Guangzhou Office
Unit 18B, Jin Yuan Bldg Overseas Paradise, Tao Jin Bei Road, Guangzhou
City, Guangdong Province, China.
[Tel: 86-20-83586505, 83509232
Fax: 86-20-83488524
E-mail: kamhancn@sohu.com]
Wenzhou Office
Unit 3B - 702, The Third Section of Natural Courtyard, Tangjiaqiao Road
South, Wenzhou City, Zhejiang Province, China.
[Tel: 86-577-89889926 / 24
Fax: 86-577-89889925
E-mail: kamhan_wenzhou@sohu.com]
10950556
0186156
Managing Director: Mr. Keshari
Chand Chhajer
Director & Contact Person:
Mr. Rajendra Keshari Chand Jain
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$3,000,000.00
(As per registry dated 03-04-2013)
|
Name |
|
No. of shares |
|
Keshari Chand CHHAJER |
|
2,250,000 |
|
Rajendra Keshari Chand JAIN |
|
750,000 |
|
|
|
–––––––– |
|
|
Total: |
3,000,000 ======= |
(As per registry dated 03-04-2013)
|
Name (Nationality) |
Address |
|
Keshari Chand CHHAJER (Indian) |
Flat Front, 8/F., 39 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
|
Rajendra Keshari Chand JAIN (Indian) |
Flat Front, 8/F., 39 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
Rajendra Keshari Chand JAIN (As
per registry dated 03-04-2013)
The subject was incorporated on 3rd April, 1987 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s office was located at Flat B4, 8/F., Hong Yuen
Court, 1-5 Tak Shing Street, Tsimshatsui, Kowloon, Hong Kong, moved to Room
424, 4/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong in early 1997 and further to Room 1012, 10/F. of the same
building in mid-2008. The subject
increased more floor space by occupying the neighbouring Room 1013 in January
2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and Exporter; Transhipment
Agent.
Lines: Footwear machinery and
equipment, Building Materials, Hardware.
Employees: 9.
(Office staff)
Commodities Imported: Hong Kong, China, Southeast Asia and Europe.
Markets: China, India, Pakistan, Middle East,
Europe, etc.
Annual Turnover: HK$25~30
million.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: Various
terms.
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$3,000,000.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 1,000,000.00 |
|
Sept. 1998 |
paid up |
HK$ 1,000,000.00 |
|
09-12-1999 |
paid up |
HK$ 1,000,000.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
HK$ 3,000,000.00 ============== |
Increases of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$2,000,000.00 |
in |
Sept.
1998 |
|
From |
HK$2,000,000.00 |
to |
HK$5,000,000.00 |
on |
09-12-1999 |
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small
profit every year.
Condition:
Keeping in an
active and satisfactory manner.
Facilities:
Making active
use of general banking facilities.
Payment: Met as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Indian Overseas Bank, Hong Kong Branch.
Credit Agricole Corporate & Investment
Bank, Hong Kong Branch.
Delta Asia Credit Ltd., Hong Kong.
Standing:
Good.
Kam Han Industrial Ltd. was formed in 1987 as a small Indian firm
engaged in importing and exporting business.
It is jointly owned by two Indian who have been in Hong Kong for a long
time, namely, Mr. Keshari Chand Chhajer, holding 75% interests, and Mr.
Rajendra Keshari Chand Jain, holding 25%.
In September 1998, the subject’s issued share capital was increased from
HK$1,000,000.00 to HK$2,000,000.00, and in December 1999 further to
HK$3,000,000.00.
According to the subject, it commenced business in 1954 although it was
incorporated in April 1987.
The subject is trading in the following commodities:-
·
Footwear Machinery;
·
Other Machinery;
·
Footwear Moulds;
·
Footwear;
·
Building Hardware;
·
Umbrella and Umbrella Components;
·
Garment Accessories;
·
Furniture;
·
Lighting;
·
Computer Peripherals;
·
Float Glass;
·
Turnkey Solutions; &
·
Other Products such as films.
The subject also offer clients with services such as regional sourcing
services, that varies from Consulting to Matchmaking. Other services offered include Export Agent,
China Export Agent, Shipping Agent, etc.
Currently, the subject has set up offices in Guangzhou and Wenzhou of
China. These Offices are responsible for
sourcing commodities from China. Prime
markets are China, India, Pakistan, Bangladesh, the Middle East, Eastern
Europe, and some of the Asian countries.
Overall business is active. The
subject has set up agents in India, Pakistan and Bangladesh. In the years ahead, the subject is going to
penetrate the markets of Africa and South America, etc.
The subject has developed business ties with a number of suppliers in
China. Regular clients also have been
maintained. The subject’s history in
Hong Kong is over twenty-six years.
Business is chiefly handled by the two Indian. Annual sales turnover ranges from HK$25 to 30
million. Overall business is active and
steady.
The subject operates from a rented office.
On the whole, consider the subject good for normal business engagements.
|
Date |
Particulars |
Amount |
|
17-04-1991 |
Instrument: Undertaking Relating to Deposits Property: FCFDR 910874 for US$50,000 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All moneys |
|
06-07-1992 |
Instrument: Undertaking Relating to Deposits Property: FD 92313 for HK$100,000 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All moneys |
|
08-01-1993 |
Instrument: Undertaking Relating to Deposits Property: FD 93003 for US$6,100 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All moneys |
|
02-02-1993 |
Instrument: Undertaking Relating to Deposits Property: FD 930092 for HK$650,000 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All moneys |
|
16-05-1995 |
Instrument: Undertaking Relating to Deposits Property: FC 950344 for US$1,192 FC 950281 for US$42,806 FD 950364 for HK$25,000 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All money |
|
09-05-1997 |
Instrument: Undertaking Related to Deposits Property: 1) Deposit Receipt No. FD
970053 dated 27-01-1997 for HK$1,148,062 2) Deposit Receipt No. FC
970175 dated 20-02-1997 for US$32,259 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All money |
|
12-06-2001 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. of Receipt: FD
210261 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All and any liabilities sole or joint, actual or contingent quantified
or not, now or hereafter owing or incurred to the Bank by the depositor for
any of them or the third party |
|
12-06-2001 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. of Receipt: FC
210929 & FC 210996 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
All and any liabilities sole or joint, actual or contingent quantified
or not, now or hereafter owing or incurred to the Bank by the depositor for
any of them or the third party |
|
09-03-2010 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. of Receipt: 2009
FD 441 1 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
“Liabilities” meaning all liabilities, sole or joint, actual or
contingent quantified or not, now or hereafter owing or incurred to the Bank
by the depositor or Third Party |
|
08-06-2010 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. of Receipt: 2010
FD 106 1 & 2010 FD 107 1 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
“Liabilities” meaning all liabilities, sole or joint, actual or
contingent quantified or not, now or hereafter owing or incurred to the Bank
by the depositor or Third Party |
|
01-04-2011 |
Instrument: Undertaking Relating to Deposits Property: Distinctive No. of Receipt: 2011
FD 11 Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
“Liabilities” meaning all liabilities, sole or joint, actual or
contingent quantified or not, now or hereafter owing or incurred to the Bank
by the depositor or Third Party |
|
08-04-2011 |
Instrument: Mortgage Property: 66/26,600th parts or shares of and in Kowloon Inland Lot No.
10574, Lot No. 10211, Lot No. 10575, Lot No. 10518, Lot No. 10580,
Lot No. 10160, Lot No. 10503, Lot No. 10526, Lot No. 10247 and
Lot No. 10616 (Offices Nos. 12 & 13 on 10/F. of Beverley
Commercial Centre, Kowloon, Hong Kong.) Mortgagee: Indian Overseas Bank, Hong Kong
Branch. |
Repayment of all monies obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
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 |
|
<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.