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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
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Name : |
RMS |
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Registered Office : |
Unit 1018-1019, 10/F., Peninsula Centre, 67 Mody Road,
Tsimshatsui, |
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Country : |
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Date of Incorporation : |
19.01.2010 |
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Com. Reg. No.: |
51705055 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Arts & Crafts,
Stationery, Festival Products, Toys, Premiums & Giftware |
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No. of Employees |
12 |
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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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 |
RMS USA (HK) LTD.
ADDRESS: Unit 1018-1019, 10/F., Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2954 5638
FAX: 852-2954 5618
E-MAIL: info@rmshongkong.com
Managing Director: Mr. Leung Kam Cheong, Ken
Incorporated on: 19th January, 2010.
Organization: Private Limited Company.
Capital: Nominal:US$1,000.00
Issued: US$1,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 12 (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Unit 1018-1019, 10/F., Peninsula Centre, 67 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
RMS International (USA) Inc.
The Village at Beacon Centre, Building 46, Suite 109 & 111, 8323 NW, 12th Street, Miami, Florida, 33126, US.
Associated
Companies:-
Checktax Ltd., UK.
RMS Consumer Products Ltd., UK.
RMS Europe B.V., Netherlands.
RMS Far East (HK) Ltd., Hong Kong.
RMS International (Hong Kong) Ltd., Hong Kong.
RMS International (Intellectual Properties) Ltd., UK.
RMS International (Shanghai) Ltd., China.
RMS International PLC, UK.
RMS International UK Ltd., UK.
51705055
1412969
Managing Director: Mr. Leung Kam Cheong, Ken
Contact Person: Ms. Amy Darling
Nominal Share Capital: US$1,000.00 (Divided into 1,000 shares of US$1.00 each)
Issued Share Capital: US$1,000.00
SHAREHOLDERS: (As per registry dated 19-01-2014)
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Name |
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No. of shares |
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RMS International (USA) Inc. The Village at Beacon Centre, Building 46, Suites 109 & 111, 8323 NW 12th Street, Miami, Florida, 33126, US. |
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950 |
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LEUNG Kam Cheong |
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50 |
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––––– |
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Total: |
1,000 ==== |
DIRECTORS: (As per registry dated 19-01-2014)
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Name (Nationality) |
Address |
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Tyrone FARBER |
9 Heythrop Close, Off Church Lane, Whitefield, Manchester, M45 7YB, UK. |
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LEUNG Kam Cheong |
Flat D, 38/F., Tower 7, Island Resort, Siu Sai Wan, Hong Kong. |
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Jonathan HAMMOND |
124 Cambridge Road, Southport, Merseyside PR9 9RZ, UK. |
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Leon David SUMMERS |
3801 Collins Avenue, Apt 1503 Miami Beach, Florida, 33140, US. |
SECRETARY: (As per registry dated 19-01-2014)
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Name |
Address |
Co. No. |
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FCS Services Ltd. |
Room 1602, 16/F., Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong. |
0717230 |
The subject was incorporated on 19th January, 2010 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: Arts & Crafts, Stationery, Festival Products, Toys, Premiums & Giftware, etc.
Brand Name: Grafix Kids, Grafix, Christmas Factory, IQ, etc.
Employees: 12 (Including associate)
Commodities Imported: China, other Asian countries, etc.
Markets: US, UK, other European countries, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: US$1,000.00 (Divided into 1,000 shares of US$1.00 each)
Issued Share Capital: US$1,000.00
Profit or Loss: Making a small profit in 2012 & 2013.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather 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: Normal.
RMS USA (HK) Ltd. is a 95%-owned subsidiary of RMS International (USA) Inc. [US-RMS] which is a US-based company. The other 5% is owned by Mr. Leung Kam Cheong who is a Hong Kong merchant. He is also managing director of the subject.
The subject has four directors, apart from Leung Kam Cheong, the other three are either in the United Kingdom or in the United States.
The subject is engaged in the same lines of business as US-RMS.
US-RMS is engaged in the distribution of stationery and gift products in Europe, Australasia, and the United States. It offers customers with Christmas and social stationery products, including calendars, diaries, crackers, and Christmas greeting cards; children’s stationery and activity products; novelty items and playing sets; paper products comprising sketch pads, note books, and address and practical books; durable products, such as hole punches, staplers, and desk organizers, as well as pens, tape, and paper clips; and arts and craft products consisting of paint brushes, paints, canvases, art sets, clays, and dough.
UK-RMS is based in Miami, Florida, the United States.
The subject is a member of the RMS Group of companies. Now, the Group has associated company known as RMS International UK Ltd. which is in Manchester, the United Kingdom with additional offices in Europe, Shanghai, and Hong Kong. The Hong Kong companies are the subject and RMS International (Hong Kong) Ltd. Both companies are located at the same address.
RMS Group has set up a License Division which is engaged in developing licensed ranges across all the product groups that the company currently offers, as well as producing bespoke items which capitalize on the particular values of a brand or character.
RMS Group already has developed business with many licenses including: Pink Panther, Nickelodeon, BBC, Luscious, Tweenies, Bagpuss, Slazenger and Dunlop, etc. The Group is constantly seeking out and acquiring new and exciting licenses.
By working closely its TV partners in China and other licensees, RMS Group will continue to put dynamic licensed branded products into the United Kingdom and European market place.
The subject sources commodities from China and the other Asian countries. Most of its products bear the following brand names: Grafix Kids, Grafix, Christmas Factory, IQ, etc.
The subject’s business is chiefly handled by Mr. Leung Kam Cheong, Ken. History in Hong Kong is about four years.
On the whole, consider the subject good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.22 |
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1 |
Rs.102.79 |
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Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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.