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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
PAN INTERNATIONAL LTD. |
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Registered Office : |
Unit 905, 9/F., Hilder Centre, 2 Sung Ping Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.05.2007 |
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Com. Reg. No.: |
51926572 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and
jewellery products |
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No of Employees : |
7. (Including associates) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
|
Moderate |
B1 |
|
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 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 |
PAN INTERNATIONAL
LTD
ADDRESS: Unit 905, 9/F., Hilder Centre, 2
Sung Ping Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2739 7136
FAX: 852-2739 7138
E-MAIL: anil@decent.com.hk
sales@decent.com.hk
Managing
Director: Mr. Anil Batwara
Incorporated
on: 4th May, 2007.
Organization: Private Limited Company.
Capital:
Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 7. (Including associates)
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
PAN
INTERNATIONAL LTD.
ADDRESS:
Registered Head
Office:-
Unit 905, 9/F.,
Hilder Centre, 2 Sung Ping Street, Hunghom, Kowloon, Hong Kong.
Associated Company:-
Decent Colorstone
Co. Ltd., Hong Kong. (Same address)
51926572
1129510
Managing
Director: Mr. Anil Batwara
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 04-05-2013)
|
Name |
|
No.
of shares |
|
Anil BATWARA |
|
10,000 ===== |
(As
per registry dated 04-05-2013)
|
Name (Nationality) |
Address |
|
Anil BATWARA |
Flat A, 11/F., Tower 6, One Silver Sea, 18
Hoi Fai Road, Tai Kok Tsui, Kowloon, Hong Kong. |
(As
per registry dated 04-05-2013)
|
Name |
Address |
Co.
No. |
|
Excellent
Honour Corporate Services Ltd. |
Unit B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road,
Yaumatei, Kowloon, Hong Kong. |
1168336 |
The subject was
incorporated on 4th May, 2007 as a private limited liability company under the Hong
Kong Companies Ordinance.
Originally the
subject was registered under the name of Diamond Crown Engineering Ltd., name
changed to the present style on 15th March, 2010.
Formerly the
subject was located at c/o Buttar.HK Ltd., Unit P, 1/F., Mau Lam Commercial
Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong, moved to Flat 6F,
1/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon,
Hong Kong on 29th March, 2012 and further to the present address in April 2013.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities:
Importer, Exporter and Wholesaler.
Lines: All kinds
of diamonds and jewellery products.
Employees: 7. (Including associates)
Commodities
Imported: India, other Asian countries.
Markets: Hong
Kong, other Asian countries, Middle East.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P
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:
Made small profits in past three years.
Condition:
Business is under development.
Facilities:
Adequate for current running.
Payment: Met trade commitments as required.
Commercial
Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Having issued
10,000 ordinary shares of HK$1.00 each, Pan International Ltd. was wholly owned
by Mr. Zaib Un Nisa Ali who was an Indian.
On 4th October, 2010, he transferred all his shares to Rajesh
Choudhary. In 2012, Rajesh Choudhary
transferred all his shares to Mr. Anil Batwara who is also an Indian. He is currently residing in Hong Kong. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
He is also the only director of the subject.
Formerly the
subject did not have its own operating office.
Its registered office was in a commercial service firm located at Unit
P, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon,
Hong Kong known as Buttar.HK Ltd. which had handled its correspondences and
documents. Buttar.HK Ltd. was also the
corporate secretary of the subject. Now,
its corporate secretary has been changed to Excellent Honour Corporate Services
Ltd.
The subject moved
to the present address in April 2013. It
has had an associated company Decent Colorstone Co. Ltd. [DCC], a Hong
Kong-registered company located at the same address.
The subject is a
diamond importer, exporter and wholesaler.
It is engaged in manufacturing loose diamonds like marquise, pears,
tappers, buggets and rose cut diamonds.
Commodities are chiefly imported from India. Finished products are marketed in
Hong Kong, exported to Japan, Taiwan and the other Asian countries.
The subject and
DCC are the members of the Decent Group of companies.
The Group is
engaged in manufacturing and exporting all kinds of cubic zirconia (CZ) and
synthetic stones.
The manufacturing base
of the Group is in China, with its own cutting factory to cut CZ and synthetic
stones. Apart from having about 220
staff in the factory, it also subcontracts the manufacturing to many small
factories to maintain mass production and timely delivery so that it can meet
the customers orders.
Now, Decent Group
has newly introduced “SWISS STAR®” machine cut CZ to the industry, which is a
top quality Swiss machine cut stone that shows a “star effect” in it. It is produced by fully automated European
machinery. The size of “Swiss Star”
ranges from 0.80 mm to maximum 10 mm.
The businesses of
the subject and DCC are handled by Anil Batwara himself.
On the whole,
consider the subject good for business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.98 |
|
|
1 |
Rs. 104.61 |
|
Euro |
1 |
Rs. 86.17 |
INFORMATION DETAILS
|
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 |
|
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.