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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE TALENT LTD. |
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Registered Office : |
c/o Happy Consultants Ltd. Unit B, 9/F., |
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Country : |
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Date of Incorporation : |
14.11.2006 |
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Com. Reg. No.: |
37646687 |
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Legal Form : |
private limited liability company |
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Line of Business : |
Importer and Exporter all kinds of garments, fashions, textile products. |
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No. of Employees : |
No employees in NOTE: It is to be noted that
the company does not have its own operating office in |
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 : |
No Operating office in Hong Kong
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
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Source
: CIA |
UNIQUE
TALENT LTD.
ADDRESS:
c/o Happy
Consultants Ltd.
Unit B, 9/F., Jonsim Place, 228 Queen’s Road East, Wanchai,
Hong Kong.
PHONE: 852-2156 8086
FAX: 852-2156 2086
Managing
Director: Mr. Manish Khanna
Incorporated on: 14th November, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Fashion Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
UNIQUE
TALENT LTD.
ADDRESS:
Registered
Head Office:-
c/o Happy
Consultants Ltd.
Unit B, 9/F., Jonsim Place, 228 Queen’s Road East, Wanchai,
Hong Kong.
Associated
Company:-
Group Indigo
41 Avenue Edouard Vaillant, 92100 Boulogne Billancourt, France.
[Tel: 08-9987
6616]
37646687
1087510
Managing
Director: Mr. Manish Khanna
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
(As
per registry dated 14-11-2013)
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Name |
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No.
of share |
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Ashim KHANNA |
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1 = |
(As
per registry dated 14-11-2013)
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Name (Nationality) |
Address |
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Manish KHANNA |
C-8/8743, Vasant
Kunj, New Delhi-110070, India. |
(As
per registry dated 14-11-2013)
|
Name |
Address |
Co.
No. |
|
Happy
Consultants Ltd. |
Unit B, 9/F., Jonsim Place, 228 Queen’s Road
East, Wanchai, Hong Kong. |
1101325 |
The
subject was incorporated on 14th November, 2006 as a private limited liability
company under the Hong Kong Companies Ordinance.
The
subject’s registered address was formerly located at Room 9 & 11, 22/F., Wayson Commercial Building, 28 Connaught
Road West, Sheung Wan, Hong Kong where was the
operating address of an account firm B. Ho & Co. CPA, moved to the present
address in March 2009 as it has changed its commercial service provider since
then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of garments, fashions, textile products.
Employees: Nil.
Commodities Imported: China, India, other Asian countries.
Markets: France, other European countries, US.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Making a very small profit in past four years.
Condition: Business is not very active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Unique
Talent Ltd. has issued just 1 ordinary share of HK$1.00 which is owned by Mr. Ashim Khanna who is an Indian,
however his registered address is in France.
The director Mr. Manish Khanna is an India
passport holder who is residing in New Delhi, India. The two Khannas
belong to the same family.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Unit B,
9/F., Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong known as Happy Consultants Ltd. which is
handling its correspondences and documents.
Happy Consultants Ltd. is also the corporate secretary of the
subject. This firm is an associate of an
accountant firm B. Ho & Co. CPA also located at the above-mentioned
address. The subject has no employees in
Hong Kong.
To
our knowledge, the subject is an associate of Group Indigo which is a
France-based firm.
Group
Indigo is a service organisation offering expertise
in sourcing, product development, quality and technical assurance to fashion
retailers and brands in Europe. The
founders of Group Indigo, Ashim Khanna,
has had a consolidated experience of over 20 years in sourcing apparel, home
textiles and fashion accessories for customers in the United Kingdom, France,
other European countries and the United States.
Most of its suppliers are in India, China and the other Asian
countries. It seems that India is the
main supplying country. Group Indigo
also carries other commodities as entrusted by customers.
Group
Indigo has set up an office and supplier base in India. It has had suppliers from the Indian
subcontinent namely from countries like India, Sri Lanka, Bangladesh,
Nepal, etc. It also has extensive
industry contacts and counterparts to source from the Middle East and Africa
(Dubai, Kenya, Madagascar, Egypt, Turkey, etc.).
Group
Indigo has got an office in Paris where is the centre of Europe, which allows
it to be in the vicinity of its main customers.
The
Group’s another office is in New Delhi and a production branch office in south
India in Chennai, and an office in Pune for Western
Indian operations from Bombay.
Mr.
Manish Khanna has over 16 years experience in the
fashion industry. He had worked in large
organizations in the United States and Europe.
He had handled accounts like Paul Smith of the United Kingdom, Talbots of the United States, Okaidi
of France, Peek & Cloppenburg of Germany,
etc. His last experience included 5
years at Li & Fung (India) as head of European
operations.
Ashim Khanna,
he is the Director of Europe Operations – Customer Management, R&D and
Finance management. Graduated from Delhi
University, he has been living in Europe since 2001. He has got an MBA degree from HEC France and
also has got an apparel production technology diploma from NIFT, India. He had worked for 8 years in a US$14 billion
turnover company May Department Stores in its New Delhi office,
administering the women’s, men’s and children’s divisions. The annual turnover of these divisions
amounted to over US$8 million.
Currently,
Ashim Khanna is residing in
France administering the business of Group Indigo. The overall business of Group Indigo is
active. Its business in India is also
active. Besides in India, the Group also
has had office in Turkey.
It
is likely that Group Indigo deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in Hong Kong. Group Indigo also exports
commodities to foreign markets under the name of the subject and its registered
address in Hong Kong.
The
subject is fully supported by Group Indigo.
However, the subject’s business in Hong Kong is not active. Its history in Hong Kong is over seven years.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, on the whole, consider it good for business engagements on L/C basis or
in very small credit amounts.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses the
address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.86 |
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|
1 |
Rs.102.67 |
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Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
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.