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Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHOOMI IMPORT & EXPORT |
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|
|
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Registered Office : |
Block C, Flat 3, 6/F., TST Mansion, 87 Nathan Road, Tsimshatsui,
Kowloon |
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|
|
|
Country : |
Hong Kong |
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Date of Incorporation : |
27.05.2010 |
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|
|
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Com. Reg. No.: |
52330918-000-05 |
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Textiles & light industrial product trader of Textiles, fabrics, shoes,
crafts, garments, toys, electrical & electronics, home furniture,
plastics and chemicals, foodstuffs |
|
|
|
|
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 : |
Very small company |
|
Payment Behaviour : |
Unknown |
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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 |
|
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 |
BHOOMI IMPORT
& EXPORT
ADDRESS: Block C, Flat 3, 6/F., TST
Mansion, 87 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available.
Manager: Mr. Hemant Narayandas Motwani
Establishment: 27th May, 2010.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Textiles
& light industrial product trader.
Employees: Nil.
Main Dealing Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BHOOMI IMPORT
& EXPORT
Head Office:-
Block C, Flat 3, 6/F., TST Mansion, 87 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Company:-
Shaoxing Bhoomi Import & Export Co., Ltd.
502-2, Huatai Building, Keqiao, 312030 Shaoxing City, Zhejiang Province,
China.
[Tel: 86-575-8478 4062,
Fax: 86-575-8478 4063]
52330918-000-05
Manager: Mr. Hemant Narayandas
Motwani
Name: Mr. Hemant Narayandas MOTWANI
Residential Address: Block C,
Flat 3, 6/F., TST Mansion, 87 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 27th May, 2010 as a sole proprietorship
concern owned by Mr. Hemant Narayandas Motwani under the Hong Kong Business
Registration Regulations.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Textiles
& light industrial product trader.
Lines: Textiles, fabrics,
shoes, crafts, garments, toys, electrical & electronics, home furniture,
plastics and chemicals, foodstuffs
Employees: Nil.
Commodities Imported: China
Markets: Southeast
Asia, Africa, Middle East
Terms/Sales: As per contracted.
Terms/Buying: COD or as per contracted.
Capital: Not
disclosed.
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Bhoomi Import & Export is a sole proprietorship set up and owned by
Mr. Hemant Narayandas Motwani who is an Indian.
He is an India passport holder and does not have the right to reside in
Hong Kong permanently. He is also
manager of the subject.
The subject’s registered address is in a private building located at
Block C, Flat 3, 6/F., TST Mansion, 87 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong. This is the residence of
Hemant Narayandas Motwani when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
The subject has had an associated company in China known as Shaoxing
Bhoomi Import & Export Co., Ltd. [Shaoxing Bhoomi] which is in Shaoxing
City, Zhejiang Province, China.
Shaoxing Bhoomi, founded in 2007, is a professional import & export
enterprise, which is specialized in all kinds of textiles. It is significant in the textile
industry. It has a professional team to
control the Quality, Finishing, and Packing of its fabrics.
Its customers are in Africa, India, the Middle East, and other countries
and regions of the world.
Its main products include knitted fabrics like Rayon Spandex, Poly Spun,
FDY Printed fabrics, and more; non-knitted fabrics like Polyester Suiting, T/R
suiting, Ramie Viscose, Chiffon, Cotton Poplin, Pebble GGT Printed fabrics, and
Hi-multi Chiffon dyed and printed fabrics; and all dyed & printed items.
Most of the time, Hemant Narayandas Motwani is in China administering
the business of Shaoxing Bhoomi.
The contact person of Shaoxing Bhoomi is Ms. Annie He who is a
Chinese. She can be reached at her China
mobile phone number 86-13105759405.
Shaoxing Bhoomi has about 8 employees in China.
The subject’s business in Hong Kong is not active. History in Hong Kong is over three years.
Since the registered office of the subject is in a residential building,
on the whole, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.