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Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TOPAZ COMMUNICATION |
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Registered Office : |
Flat C3, 4/F., |
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Country : |
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Date of Incorporation : |
25.03.2009. |
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Com. Reg. No.: |
50455639-000-03 |
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Legal Form : |
Sole Proprietorship. |
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LINE OF BUSINESS : |
IMPORTER AND EXPORTER OF ALL KINDS OF MOBILE PHONES,
ACCESSORIES |
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No. of Employees : |
1 |
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 : |
Moderate |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
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
TOPAZ COMMUNICATION
Address: Flat C3, 4/F.,
Summit Building,
30 Man Yue
Street,
Hung Hom, Kowloon,
Hong Kong.
(Your enquiry given as:
TOPAZ COMMUNICATIONS
and old address at:
Flat C, 12/F., Dorfu Court,
5-6 Hau Fook Street,
Tsimshatsui, Kowloon,
Hong Kong. )
PHONE: 852-2721 3436
Manager: Ms. Alisha Rai
Establishment: 25th
March, 2009.
Organization: Sole
Proprietorship.
Capital: Not
disclosed.
Business Category: Mobile Phone Trader.
Employee:
1.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat C3, 4/F., Summit Building, 30 Man Yue Street, Hung Hom, Kowloon,
Hong Kong.
Associated
Company: (same address)
Topaz Telecom Ltd., Hong Kong.
50455639-000-03
Manager: Ms. Alisha Rai
Contact Person: Mr. Anil
Name: Ms. Alisha RAI (Mobile Phone No.: 852-6938 4586)
Residential Address: Flat D2,
6/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 25th March, 2009 as a sole proprietorship
concern owned by Ms. Alisha Rai under the Hong Kong Business Registration
Regulations.
Initially the subject was located at Flat D2, 6/F., Mirador Mansion, 54‑64 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat C, 12/F., Dorfu Court, 5-6
Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong in late March 2009, moved to
Flat 3, 2/F., Ki Fu Building, Whampoa Estate, 54 Tak Man Street, Hung Hom,
Kowloon, Hong Kong, and further moved to the present address in May 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of mobile phones, accessories.
Employee: 1.
Commodities Imported: China, etc.
Markets: India,
other Asian countries, etc.
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, etc.
Capital: Not
disclosed.
Profit or Loss: Keeping a balance account.
Condition: Business
is under development.
Facilities: Trying
to make use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bank of
China (Hong Kong) Ltd., Hong Kong.
Standing:
Small.
Topaz Communication is a sole proprietorship set up on and owned by
Ms. Alisha Rai who is an Indian businesswoman. She is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
Established in March 2009, the subject is a telecommunication product
trader.
The subject moved to the present address in May 2013. It has one employee in Hong Kong.
The subject is trading in all kinds of mobile phones, batteries and
accessories. Most of the products are imported
from China. Prime markets are India, and
the other Asian countries.
The subject has registered with the Office of the Communications
Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00131350-RU.
Rai can be reached at her mobile phone number 852-6938 4586.
The subject has had an associated company Topaz Telecom Ltd. [TTL] which
is also located at the same address.
TTL is also a mobile phone trader.
It has registered with the Office of the Communications Authority
(OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a
Radio Dealer (Unrestricted) Licensee.
TTL bears the licence No. of RU00144535-RU.
The subject’s business is chiefly handled by Rai herself. The contact person is a Mr. Anil who can be
reached at his mobile phone number 852-6097 6867.
The history of the subject in Hong Kong is over four years.
On the whole, consider it good for normal business engagements on L/C
basis or in very small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.18 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
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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.