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Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
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Name : |
INTEXPORT |
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Registered Office : |
Room 1635, 16/F., Star House, |
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Country : |
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Date of Incorporation : |
12.12.1987 |
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Com. Reg. No.: |
10548309-000-05 |
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Legal Form : |
Sole Ownership. |
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Line of Business : |
Importer, Exporter and Wholesaler of Stainless Steel, Raw materials, Metal, and Finished Products. |
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No. of Employees : |
10. (Including Sole
Owner) |
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 : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source : CIA |
INTEXPORT
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2735 7758, 2735 7759
FAX: 2730 0946, 2730 1817
E-MAIL: general@amersonic.com
Manager: Mr. Madhur Dugar
Establishment: 12th December, 1987.
Organization: Sole Ownership.
Capital: Not disclosed
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$35~40 million (Including Sole Owner)
Employees: 10. (Including Sole Owner)
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Head Office:-
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
Sister Companies:-
Texchemie, Hong Kong.
[BR No. 10548309-001]
Nippon Unitech Industrial Co., Hong Kong. (Business Ceased)
[BR No. 10548309-002]
Concentra, Hong Kong. (Business Ceased)
[BR No. 10548309-004]
Alwynco, Hong Kong. (Business Ceased)
[BR No. 10548309-005]
Far East Test and Measurement Systems Co., Hong Kong.(Business Ceased)
[BR No. 10548309-006]
Amersonic International, Hong Kong.
[BR No. 10548309-007]
Lightex, Hong Kong. (Business Ceased)
[BR No. 10548309-008]
Alpine Silk, Hong Kong. (Business Ceased)
[BR No. 10548309-009]
Success Engineering, Hong Kong.
[BR No. 10548309-010]
Hong Kong Yaten, Hong Kong. (Business Ceased)
[BR No. 10548309-011]
Shanghai Shibang Machinery Co., Hong Kong. (Business Ceased)
[BR No. 10548309-012]
Great China Alliance, Hong Kong.
[BR No. 10548309-013]
Sabko International, Hong Kong.
[BR No. 10548309-014]
Polychemin, Hong Kong. (Business Ceased)
[BR No. 10548309-015]
Associated
Companies:-
Amersonic International Ltd., Hong Kong. (Same address)
Ginda Industries Ltd., Hong Kong. [Dissolved]
10548309-000-05
Manager: Mr. Madhur Dugar
Contact Person: Mr. Ritesh Dugar
Unisilk Ltd., Hong Kong.
(See attachment)
The subject was established on 12th December, 1987 as a sole ownership firm with Unisilk Ltd. as the proprietor under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has
been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Stainless Steel, Raw materials, Metal, and Finished Products.
Employees: 10. (Including Sole Owner)
Commodities Imported: China, India, Russia, etc.
Markets: Asia, Europe, etc.
Annual Turnover: HK$35~40 million (Including Sole Owner)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Capital Provider: Provided by Sole Owner.
Profit or Loss: Sole owner makes a profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Good.
Intexport is one of the wholly-owned subsidiaries of Unisilk Ltd. [Unisilk] which is a Hong Kong-registered firm.
The subject and Unisilk share the same operating office. The subject has been a steel and metal trader since 1986.
With more than two decades of experience, Intexport is now one of the trustworthy suppliers for various different grades of stainless steel and metal in Asia. Besides Hong Kong, its offices are in Foshan and Shenzhen Special Economic Zone of China, India, Vietnam. The subject also operates its own factories and it also has strong links with some of the largest producers and therefore it is able to provide cost-efficient supplies of various types of metal ranging from different grades in stainless steel and carbon steel. These include coils, sheets, pipes, strips and circles, metal products and utensils, etc. Concerning stainless steel products, the subject trades in cold rolled and hot rolled for grades 201, 202, 400 series and 304.
The subject is trading
in the following commodities:-
· Supplies all grades including 201 series, 300 series, 400 series;
Supplies
width from 30 mm -1500 mm depending on the grade needed by customers;
Supplies
SS like Hinges, Sinks, cutlery, flexible SS pipes, round bars, etc.
Supplies
all finishes like No.1 finish, 2B, BA, 6K, 8k, No.4, HL and PVD coloured
stainless steel;
Supplies
PCM/PPGI used for appliances manufacturing in cut to size sheets with width
above 600 mm and coils;
Supplies
carbon steel Cold rolled coils with width above 600 mm.; &
Supplies
thickness from 0.16 mm - 6 mm in Coils in 2B finish, Thickness 0.18 mm - 1.5 mm
in circles, and 2.5 mm - 30 mm in HR coils and plates.
According to the subject, it exports about 3,000 MT of stainless steel every month.
It has developed good relationship with large mills in Asia.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in China. For instance, it is going to take part in “112th Canton Fair, Guangzhou, Phase 1 (Autumn 2012) which will be held in Guangzhou, Guangdong Province, China during the period of 15 to 19th October, 2012.
Incorporated on 9th May, 1986, Unisilk is experienced in sourcing a wide range of products catering many different industries. It is trading in many different kinds of products such as electronics, electric appliances, electrical products, marble, building materials, grinding machinery, stationery, skin care products, silk and silk fabrics, chemicals, etc.
Unisilk is an International Sourcing company dealing in a wide range of products with offices in Hong Kong, Shenzhen, Yiwu, India, Bangkok and even Vietnam.
Unisilk help clients in sourcing products from different countries with good quality and competitive prices. According to Unisilk, it has had its own manufacturing unit for Limestone Powder.
It is regularly Selling: limestone powder, aluminium composite panels, stainless steel coils, glass blocks, laminate flooring, DVD players, PVC flex, zirconium, caustic soda flakes.
It is also regularly Buying: caustic soda flakes, PVC resin, polypropylene, PP, LLDPE, LDPE, DOP, EVA, etc.
Unisilk has set up a number of subsidiaries in order to trade different products while the subject is one of them.
Owned by the Dugar family, Unisilk has been increasing its scope of business.
Unisilk is a member of The Indian Chamber of Commerce Hong Kong, a based organization.
The business of Unisilk is active, so does the subject.
The directors of Unisilk are Mr. Sajjan Dugar and Mr. Madhur Dugar. Both of whom are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.
The annual sales turnover of Unisilk ranges from HK$35 to 40 million. Making a small profit every year.
The history of Unisilk in Hong Kong is over twenty-six years.
On the whole, in view of the subject’s parentage, consider it good for normal business engagements.
UNISILK LTD.
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
10548309
0169007
9th May, 1986.
Nominal Share Capital: HK$39,400,000.00 (Divided into 394,000 shares of HK$100.00 each)
Issued Share Capital: HK$39,400,000.00
(As per registry
dated 09-05-2012)
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Name |
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No.
of shares |
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Madhur
DUGAR |
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122,442 |
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Sajjan DUGAR |
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271,558 |
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––––––– |
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Total: |
394,000 ====== |
(As per registry
dated 09-05-2012)
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Name (Nationality) |
Address |
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Madhur DUGAR |
A3-4, 9/F., Hong Yuen Court,
1-5 Tak Shing Street, Kowloon, Hong Kong. |
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Sajjan DUGAR |
A3-4, 9/F., Hong Yuen Court,
1-5 Tak Shing Street, Kowloon, Hong Kong. |
(As per registry
dated 09-05-2012)
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Name |
Address |
Co.
No. |
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Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road
Central, Hong Kong. |
0113023 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.73 |
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UK Pound |
1 |
Rs.91.82 |
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Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
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NB |
New Business |
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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.