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Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
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Name : |
RICKY DADLANI LTD. |
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Registered Office : |
Flat A & B, 4/F., Windsor Mansion, 29-31 Chatham Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.04.1984 |
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Com. Reg. No.: |
08974899 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Wholesaler and Exporter of all kinds of shirts, piecegoods,
other type of garments |
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No. of Employees : |
11 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 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 |
RICKY DADLANI LTD.
ADDRESS: Flat A & B, 4/F., Windsor
Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2368 8060, 2368 2259
FAX: 852-2311 7870
E-MAIL: pnsrd@netvigator.com
fabric@netvigator.com
Managing Director: Mr. Purankumar
Ramchand Dadlani
Incorporated on: 24th April, 1984.
Organization: Private Limited Company.
Capital: Nominal: HK$1,300,000.00
Issued: HK$1,300,000.00
Business Category: Importer,
Wholesaler and Exporter.
Annual Turnover: HK$25-30 million.
Employees: 11.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
RICKY DADLANI LTD.
Registered Head
Office:-
Flat A & B, 4/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui, Kowloon,
Hong Kong.
08974899
0135980
Managing Director: Mr. Purankumar Ramchand Dadlani
Contact Person: Mr. Ramchand Tejumal Dadlani
Nominal Share Capital: HK$1,300,000.00 (Divided into 1,300 shares of
HK$1,000.00 each)
Issued Share Capital: HK$1,300,000.00
(As per registry dated 24-04-2013)
|
Name |
|
No. of shares |
|
Purankumar Ramchand DADLANI |
|
1,000 |
|
Ramchand Tejumal DADLANI |
|
151 |
|
Sheila Ramchand DADLANI |
|
149 |
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|
|
|
|
Total: |
1,300 ==== |
(As per registry dated 24-04-2013)
|
Name (Nationality) |
Address |
|
Sheila Ramchand DADLANI |
6/F., 288A Prince Edward Road, Kowloon, Hong Kong. |
|
Ramchand Tejumal DADLANI |
6/F., 288A Prince Edward Road, Kowloon, Hong Kong. |
|
Purankumar Ramchand DADLANI |
6/F., 288A Prince Edward Road, Kowloon, Hong Kong. |
Purankumar Ramchand DADLANI (As
per registry dated 24-04-2013)
The subject was incorporated on 24th April, 1984 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject moved to the present address from Flat C, 5/F., Alpha House,
27‑33 Nathan Road, Kowloon, Hong Kong in September 1990.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Wholesaler and Exporter.
Lines: All
kinds of shirts, piecegoods, other type of garments
Employees: 11.
Commodities Imported:-
Fabrics Europe, India
Finished products China.
Markets: Asian
countries, Europe, US
Annual Turnover: HK$25-30
million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/A
Nominal Share Capital: HK$1,300,000.00
(Divided into 1,300 shares of HK$1,000.00 each)
Issued Share Capital: HK$1,300,000.00
Increase of Nominal Capital:-
|
From |
HK$600,000.00 |
to |
HK$1,300,000.00 |
on |
31-03-1996 |
Alternation of Issued Capital:-
|
Initially |
paid up |
HK$ 600,000.00 |
|
31-03-1996 |
paid up |
HK$ 700,000.00 |
|
|
|
|
|
Total: |
paid up |
HK$1,300,000.00 ============= |
Mortgage or Charge (since June 2012):
(See attachment)
Profit & Loss: Made
profits in the past years.
Condition: Keeping
in a rather active state.
Facilities: Making
active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
BNP Paribas, Hong Kong Branch.
Citibank N.A., Hong Kong Branch.
Standard Chartered Bank (HK) Ltd., Hong Kong.
Wing Lung Bank Ltd., Hong Kong.
Standing: Good.
Having issued 1,300 ordinary shares of HK$1,000.00 each, Ricky Dadlani
Ltd. is an Indian family business of the Dadlanis. The principal shareholder Purankumar Ramchand
Dadlani is holding 1,000 shares, accounting for 76.9% interests. The Dadlani family has been in Hong Kong for
a very long time.
Formerly the subject had just issued 600 ordinary shares of HK$1,000.00
each. On 31st March, 1996, it issued 700
more ordinary shares which increased the issued share capital from HK$600,000.00
to HK$1,300,000.00 in order to strengthen its financial position.
The shareholders of the subject are also directors of the subject. All of them are Hong Kong ID Card holders and
have got the right to reside in Hong Kong permanently.
The subject is a garment trader.
It is exporting mens suits to the United States and Europe. Business is quite steady. Raw materials such as fabrics and garment
accessories are imported from Europe, India, Japan, etc. Garments are manufactured by affiliated manufacturers
in China.
The subject is trading in the following commodities:-
·
Blouses (Tailor made);
·
Piecegoods - Silk (From Japan, Korea & Taiwan);
·
Piecegoods - Woollen (From UK, Germany, Japan,
Korea, China & Spain);
·
Suits & Jackets - Womens (Tailor made);
·
Tailor Made - Ladies, Suit;
·
Tailor Made - Men, Shirt;
·
Tailor Made Garments (Trousers, shirt), Suit; &
·
Piecegoods - Woven (From UK, Germany, Japan, Korea,
China & Spain, India).
Products are exported to Japan, South Korea, North America, Southeast Asia,
Taiwan, etc. Business is active as
regular suppliers and customers have been maintained.
The subject was an affiliated company of Ricky Dadlani Inc. [RDI], a
firm established in 1975. The subject
was set up by the Dadlanis in order to take over the business of Ricky Dadlani
Inc. RDI was located at the same address
as the subject. However, this firm
cannot be found any more.
The subject is operating from its own premises located at the present
address. Besides these, it also owns
other premises located at the same floor of the same building.
The annual sales turnover of the subject ranges from HK$25 to 30
million.
On the whole, having a history of over twenty-nine years in Hong Kong,
the subject is considered good for normal business engagements.
Property information of the company:-
1. Property Location: Flat C, F & H, 4/F., Windsor
Mansion, 29-31 Chaham Road South, Kowloon, Hong Kong.
Owner: Ricky Dadlani Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
31-05-2012 |
- |
Wing Lung Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
2. Property Location: Basement Floor, Car Park No. P82 and
P83, South Seas Centre, 70 Mody Road, Kowloon, Hong Kong.
Owner: Ricky Dadlani Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
31-05-2012 |
- |
Wing Lung Bank Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
(Since June 2012)
|
Date |
Particulars |
Amount |
|
31-05-2012 |
Instrument: Mortgage Property: 1) All That 1/301 part or
share of and in The Remaining Portion of Kowloon Inland Lot No. 8247 (Flat C,
4/F., Windsor Mansion, 29-31 Chaham Road South, Kowloon) 2) All That 1/301 part or
share of and in The Remaining Portion of Kowloon Inland Lot No. 8247 (Flat F,
4/F., Windsor Mansion, 29-31 Chatham Road South, Kowloon) 3) All That 1/301 part of
share of and in The Remaining Portion of Kowloon Inland Lot No. 8247 (Flat H,
4/F., Windsor Mansion, 29-31 Chatham Road South, Kowloon) Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure general banking facilities to such extent as shall from time
to time be mutually agreed or be stipulated by the Lender |
|
31-05-2012 |
Instrument: Mortgage Property: All Those 12/26,000 part or share of and in Kowloon Lot No. 10549 (Car
Park No. P82 and P83, Basement Floor, South Seas Centre, 70 Mody Road,
Kowloon) Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure general banking facilities to such extent as shall from time
to time be mutually agreed or be stipulated by the Lender |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
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 |
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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 |
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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 |
|
<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.