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Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
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Name : |
PURE CONCEPTS LTD. |
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Registered Office : |
Unit C, 12/F., Winner Building, 36 Man Yue Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.01.2005 |
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Com. Reg. No.: |
35290872 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF JEWELLERY AND DIAMOND PRODUCTS |
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No. of Employees : |
6 |
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 – 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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
PURE CONCEPTS LTD.
ADDRESS: Unit C, 12/F., Winner
Building, 36 Man Yue Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2521 8812
FAX: 852-2521 8813
Managing Director: Mr. Lee Pui
Lam
Incorporated on: 19th January, 2005.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
PURE CONCEPTS
LTD.
Registered Head
Office:-
Unit C, 12/F., Winner Building, 36 Man Yue Street, Hunghom, Kowloon,
Hong Kong.
Holding Company:-
Wonking (Hong Kong) Ltd., Hong Kong.
(same address)
Associated/Affiliated
Companies:-
QI Group of Companies
Cosmos Pioneer (S) Pte. Ltd., Singapore.
Donovans Ltd., Hong Kong.
Goldquest International Ltd., Hong Kong.
JR Mayer Collections Ltd., Thailand.
Q Lifestyle (S) Pte. Ltd., Singapore.
QF Service GmbH, Germany.
QI Asset Management Ltd., Cayman Islands.
QI Ltd., Cayman Islands.
QI Philippines inc., Philippines.
QI Services (M) Sdn. Bhd., Malaysia.
QI Services (TH) Ltd., Thailand.
QiComm Asia Ltd., Hong Kong.
[Dissolved]
QiComm Asia Pacific Ltd., Hong Kong.
QNet Ltd., Hong Kong.
Quest Travel Ltd., Hong Kong.
[Dissolved]
Quest Vacation International Ltd., Hong Kong. [Dissolved]
QuestNet Ltd., British Virgin Islands/Hong Kong.
QuestNet Services (HK) Ltd., Hong Kong.
Quex Courier (HK) Ltd., Hong Kong.
Synergia management Consulting Inc., Philippines.
The Asian Hotel Corporation, Sri Lanka.
The Mayer Mint GmbH, Germany.
V-Team International Ltd., British Virgin Islands.
V-Team Ltd., Hong Kong.
[Dissolved]
35290872
0946951
Managing Director: Mr. Mr. Lee
Pui Lam
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 19-01-2014)
|
Name |
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No. of shares |
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QI Asset Management Ltd. Scotia Centre, 4/F., P.O. Box 2804, George Town, Grand Cayman, Cayman
Islands. |
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2,500 |
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Wonking (Hong Kong) Ltd., Hong Kong. |
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7,500 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 01-01-2014)
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Name (Nationality) |
Address |
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LEE Pui Lam |
Flat F, 9/F., Block 2, Mountain Shore, 8 Yuk Tai Street, Ma On Shan,
New Territories, Hong Kong. |
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ZHOU Pei Zhen |
Room B, 18/F., Tower 5, One Silversea, 18 Hoi Fai Road, Kowloon, Hong
Kong. |
(As per registry dated 19-01-2014)
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Name |
Address |
Co. No. |
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Excellence Group Ltd. |
Flat D, 2/F., Right Time Building, 21-27 Playing Field Road, Mongkok, Kowloon,
Hong Kong. |
0567136 |
The subject was incorporated on 19th January, 2005 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Jewellery
and diamond products
Employees: 6.
Commodities Imported: India, other
Asian countries, Belgium, Israel
Markets: Australasia,
Central & South America, Hong Kong, North America, Western Europe
Terms/Sales: L/C or as per contracted.
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: Making
a small profit every year.
Condition: Keeping in a normal
condition.
Facilities: Making 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: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Pure Concepts Ltd.
is jointly owned by QI Asset Management Ltd., a Cayman Islands-registered firm
holding 25% interests, and Wonking (Hong Kong) Ltd. [Wonking], a Hong
Kong-registered firm holding 75%.
Wonking is also located at the same operating address as the subject.
The directors of the subject are Mr. Lee Pui Lam and Ms. Zhou Pei
Zhen. The latter was appointed on 1st
January, 2014.
The subject is a diamond trader.
It has had an affiliated company known as Donovans Ltd. [Donovans] in
Hong Kong. The subject and Donovans are
engaged in the same lines of business.
Donovans is a manufacturer of fine jewellery, catering for medium
market. Donovans is one of the suppliers
of the subject.
Donovans was founded in 2002.
This company is a manufacturer of fine jewelry. It provides an extensive range of 9K, 10K,
14K and 18K gold jewelry accented with diamonds and gemstones available in
bracelets, bangles, earrings, necklaces, pendants and rings. Catering for medium to high-end market,
Donovans annually launches 1,800 designs of jewelry with a China factory and in-house
design team.
The subject imports and distributed loose diamonds from India. Business is rather active.
The minor shareholder of the subject QI Asset Management Ltd. is an
associated company of the QI Group of Companies. The QI Group of Companies are a multinational
conglomerate comprising a dynamic group of businesses with regional offices in
Hong Kong, Singapore, Malaysia, Thailand and the Philippines and a wide
range of subsidiary companies in nearly 30 countries. The Group has six main business lines
diversified into lifestyle & leisure, luxury & collectibles, training
and education, property development and project management, logistics and an
e-commerce based retail & direct sales business.
The Group has investments in the field of telecommunications, television
and broadcast media, the banking industry, commercial and retail properties,
entertainment and hospitality, among others, its most recent venture was into
the education sector, with the establishment of a university in Malaysia.
With over 1,000 employees, the QI Group through its various businesses
has a global customer base of over five million that spans nearly 160
countries. The QI Group is a member of
the Commonwealth Business Council and a Global Growth Company member of the
World Economic Forum. One of the members
of the QI Group is GoldQuest International Ltd. [GoldQuest].
GoldQuest a global numismatics company renowned for its gold coin
products and jewellery marketed in more than 120 countries worldwide. In its five years of existence, GoldQuest is
now considered one of the most successful Asian start-up businesses, and is
Asia’s largest e-business portal. With
headquarters in Hong Kong and operational offices in nine countries, GoldQuest
is one of the world’s largest numismatics organisations working with reputed
government and private mints.
The subject is supported by the QI Group and its holding company. History in Hong Kong is over nine years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.72 |
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|
1 |
Rs.102.45 |
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Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
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.