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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KMC TRADING CO. LTD. |
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Registered Office : |
Room 1601, 16/F., Winfull Commercial Building, 172-176 Wing Lok
Street, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.07.2010 |
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Com. Reg. No.: |
52696138 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of dried aquatic
products |
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No of Employees : |
3 |
RATING & COMMENTS
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MIRAs 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 : |
Business is Improving |
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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 december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies
|
Source
: CIA |
KMC TRADING
CO. LTD.
ADDRESS: Room 1601, 16/F., Winfull Commercial Building,
172-176 Wing Lok Street, Sheung Wan, Hong Kong.
PHONE: 852-2291 0085, 6904 6255 (Mobile)
FAX: 2291 0096
E-MAIL: fattaje2001@gmail.com
Managing Director: Mr. Mohsin
Javid Fatta
Incorporated on: 29th July, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
KMC TRADING
CO. LTD.
Registered Head
Office:-
Room 1601, 16/F., Winfull Commercial Building, 172-176 Wing Lok Street,
Sheung Wan, Hong Kong.
Associated Company:-
KMC Enterprise, India.
52696138
1486658
Managing Director: Mr. Mohsin
Javid Fatta
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 29-07-2013)
|
Name |
|
No. of shares |
|
Javid Ebrahim FATTA |
|
5,000 |
|
Mohsin Javid FATTA |
|
5,000 |
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|
|
|
|
|
Total: |
10,000 ===== |
(As per registry
dated 29-07-2013)
|
Name (Nationality) |
Address |
|
Javid Ebrahim FATTA |
Flat B, 4/F., Kimley House, 1-3 Kimberley Street, Tsimshatsui,
Kowloon, Hong Kong. |
|
Mohsin Javid FATTA |
Flat B, 4/F., Kimley House, 1-3 Kimberley Street, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry
dated 29-07-2013)
|
Name |
Address |
Co. No. |
|
Innovative Human Resources Outsourcing Partners Ltd. |
Unit 701, 7/F., On Hong Commercial Building, 145 Hennessy Road,
Wanchai, Hong Kong. |
1150948 |
The subject was incorporated on 29th July, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat C, 6/F., Kai Fat Building, 204‑210 Wing
Lok Street, Sheung Wan, Hong Kong, moved to the present address in December
2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of dried aquatic products, etc.
Employees: 3.
Commodities Imported: Japan,
Southeast Asia, India, South America, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Kept
a balance account in 2013.
Condition: Business
is improving.
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.
Having issued 10,000 ordinary shares of HK$1.00 each, KMC Trading Co.
Ltd. is equally owned by Mr. Mohsin Javid Fatta and Mr. Javid Ebrahim
Fatta. They are also directors of the
subject. Being Hong Kong ID Card
holders, they have got the right to reside in Hong Kong permanently.
The subject moved to the present address in December 2012.
The subject is a dried aquatic product trader. The two shareholders have over 30 years of
experience in this industry. It is
specialized in sourcing fish maws, shark fin and various other dried
seafood. The subject is one of the
leading importers and exporters of dried seafood in Hong Kong. Its customers include wholesalers, retailers,
restaurants in China, Hong Kong and Macau.
It imports dried seafood directly from India, Bangladesh, Pakistan, Sri
Lanka, the Middle-East, Indonesia, South Africa, Latin America, Australia and
New Zealand.
The subject carries the following commodities:
beche de mer, conger cinereus, croaker fish, otolithoides biauritus,
palynemus tetradactylum, protonibea diacanthus, dried fish maws such as cat
fish maws, dara fish maws, eel fish maw, ghol fish maws, ling fish maws, nile
perch maws, dried sea cucumber, vam fish maws, dried shark fins, Indian salmon
and all other types of dry fish, etc.
The two shareholders, both of whom are Indian, belong to the Fatta
family.
The subject has had an associated company KMC Enterprise which is in
India. The subject and KMC Enterprise
are engaged in the same lines of business, more or less.
The history of the subject in Hong Kong is just over three years.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.32 |
|
|
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
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 SCs 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.