|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KING ENTERPRISES |
|
|
|
|
Registered Office : |
Room G, 16/F., Block 16, Site 2, Cherry Mansion, 9 Shun King Street, Whampoa
Garden, Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
20.06.2011 |
|
|
|
|
Com. Reg. No.: |
54029753-000-06 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
LINE OF BUSINESS : |
A DIAMOND
TRADER, ACCORDING TO OUR SECONDARY SOURCES. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Small Company |
|
Payment Behaviour : |
Unknown |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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'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 |
KING ENTERPRISES
Registered
Office:-
Room G, 16/F., Block 16, Site 2, Cherry Mansion, 9 Shun King Street,
Whampoa Garden, Hung Hom, Kowloon, Hong Kong.
Associated
Company:-
AL Zahab FZE, Hong Kong. (same
address)
54029753-000-06
20th June, 2011.
Sole Proprietorship
Name: Kapil Kumar JAIN
Residential Address: A/302
Vardh Vinayak Apartment, Janrdhan Rakvi Marg Nr Ratadiya Complex, Bhyander West
Thane‑401101 Maharashtra, India.
King Enterprises is a sole proprietorship set up and owned by Mr. Kapil
Kumar Jain who is an Indian. Being the
manager of the subject, he is an India passport holder and does not have the
right to reside in Hong Kong permanently.
The subject commenced business in June 2011.
The subject’s registered address is in a private building located at
Room G, 16/F., Block 16, Site 2, Cherry Mansion, 9 Shun King Street, Whampoa
Garden, Hung Hom, Kowloon, Hong Kong.
This is the Hong Kong residence of Dalal.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories.
We can reached nobody at your given mobile phone number 852-6029 9434 as
the mobile phone has been turned off.
The subject’s lines of business are unknown since the sole proprietor or
the representative of the subject cannot be contacted. It seems to be a diamond trader, according to
our secondary sources.
The subject has had an associated company AL Zahab FZE, a Hong Kong‑registered
firm which is also operated by Kapil Kumar Jain.
The subject is just a one-man company.
Business is chiefly handled by Jain himself. History in Hong Kong is just about a year.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.