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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
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Name : |
KEYA IMPEX |
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Registered Office : |
Flat D, 9/F., Savoy Mansion, 49 Carnarvan Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.08.2010 |
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Com. Reg. No.: |
52732316-000-08 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
·
Importer, Exporter and Wholesaler of
all kinds of diamonds, emerald, precious stones and jewellery products ·
Subject imports cut and polished
loose diamonds from India and Europe |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s 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 : |
Small concern |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
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.
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Source
: CIA |
KEYA IMPEX
ADDRESS: Flat D, 9/F., Savoy Mansion, 49 Carnarvan Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
Manager: Mr. Mitesh Arvindkumar Shah
Establishment: 5th August, 2010.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat D, 9/F., Savoy Mansion, 49 Carnarvan Road, Tsimshatsui, Kowloon, Hong Kong.
Associated Concern:-
S.M. Impex, Hong Kong. (Same owner)
52732316-000-08
Manager: Mr. Mitesh Arvindkumar Shah
Name: Mr. Mitesh Arvindkumar SHAH
Residential Address: Room 12, 3/F., ManMer Apartment, Poddar Road, Malad (E), Mumbai-400097, India.
The subject was established on 5th August, 2010 as a sole proprietorship concern owned by Mr. Mitesh Arvindkumar Shah under the Hong Kong Business Registration Regulations.
Initially the subject was located at Flat G, 8/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B4, 8/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in September 2010, to Room 915, 9/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in April 2011, and further to the present address in June 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds, emerald, precious stones and jewellery products
Employee: 1.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not disclosed.
Profit or Loss: Made a small profit 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.
Keya Impex is a sole proprietorship set up and owned by Mr. Mitesh Arvindkumar Shah who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also manager of the subject.
The subject moved to Flat D, 9/F., Savoy Mansion, 49 Carnarvan Road, Tsimshatsui, Kowloon, Hong Kong where is a residential flat in June 2012. It is likely that M. A. Shah moved to this new resident in the same month and year. The residential building is not trespassed by outsiders.
The subject is a diamond importer, exporter and wholesaler. Most of the commodities such as cut and polished loose diamonds are imported from India and Europe. Prime markets are Hong Kong, Japan and the other Asian countries. Business is normal.
Besides operating the subject, Shah has set up another firm in Hong Kong known as S.M. Impex which is located at a different address. The subject and S.M. Impex are engaged in the same lines of business.
The history of the subject in Hong Kong is just over three years in Hong Kong.
On the whole, consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
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|
1 |
Rs.102.89 |
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Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
-- |
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.