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Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
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Name : |
FINE INTERNATIONAL |
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Registered Office : |
Room G, 16/F., Block
16, Cherry Mansion, Whampoa Garden, 9 Shung King Street, Hung Hom, Kowloon,
Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.02.2011 |
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Com. Reg. No.: |
53762714-000-02 |
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Legal Form : |
Sole Proprietor |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
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Payment Behaviour : |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
|
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'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 |
FINE INTERNATIONAL
Registered
Office:-
Room G, 16/F.,
Block 16, Cherry Mansion, Whampoa Garden, 9 Shung King Street, Hung Hom,
Kowloon, Hong Kong.
53762714-000-02
10th February,
2011.
Manager: Mr. Dhan Signh Rajput
Name: Dhan Signh RAJPUT
Residential Address:
Vpo Jharwasa Via Bandanwara Distt., Ajmer Rajasthan 305621, India.
Fine
International is a sole proprietorship set up and owned by Mr. Dhan Signh
Rajput 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 February 2011.
The
subject’s registered address is in a private building located at Room G, 16/F.,
Block 16, Cherry Mansion, Whampoa Garden, 9 Shung King Street, Kowloon, Hong
Kong. This seems to be the residence of
Dhan Signh Rajput when he is in Hong Kong.
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.
The
subject’s lines of business are unknown since the manager of the subject cannot
be reached.
We
can reach nobody at your given mobile phone number 852-6029 9434 as the line ‘cannot
be connected’. The owner of this line
has turned his mobile phone off.
To
our knowledge, your given phone number 852-6029 9434 seems belonging to a
secretary of the subject known as Mr. Samir Shah who is also an Indian. Mr. Samir Shah is also the contact person in
Hong Kong of another firm known as Future Exports. Future Exports trades in a varieties of
commodities such as bags, toys, plastic products, electronic products,
foodstuffs, wines, etc.
The
subject is just a one-man company.
Business is chiefly handled by Dhan Signh Rajput himself. History in Hong Kong is just over two years
and a month.
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.54.09 |
|
|
1 |
Rs.82.46 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.