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Report Date : |
18.07.2014 |
IDENTIFICATION DETAILS
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Name : |
COLOR MAPLE LTD. |
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Registered Office : |
Flat F, 9/F., Alpha House, |
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Country : |
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Date of Incorporation : |
20.09.2011 |
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Com. Reg. No.: |
59009427 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of Watches. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow But Correct |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
COLOR MAPLE
LTD.
ADDRESS: Flat
F, 9/F., Alpha House, 27-33 Nathan Road, Kowloon, Hong Kong.
PHONE: 852-2721
9959
FAX: 852-2376
1910
Managing Director: Mr. Darshan Pradeep Parekh
Incorporated on: 20th September, 2011.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The
Hong Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COLOR MAPLE
LTD.
Registered Head Office: - Flat
F, 9/F., Alpha House, 27-33 Nathan Road, Kowloon, Hong Kong.
Associated Company: - Uni
Global Ltd., Hong Kong. (Same address)
59009427
1665804
Managing Director: Mr. Darshan
Pradeep Parekh
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000.00
(As per registry dated 20-09-2013)
|
Name |
|
No. of shares |
|
Darshan Pradeep PAREKH |
|
100 |
|
Shelly Darshan PAREKH |
|
900 |
|
|
|
––––– |
|
|
Total: |
1,000 ==== |
(As per registry dated 20-09-2013)
|
Name (Nationality) |
Address |
|
Shelly Darshan PAREKH |
Room B, 14/F., Block 12, Site 11, Whampoa Gardens, 6 Tak Hong
Road, Hunghom, Kowloon, Hong Kong. |
|
Darshan Pradeep PAREKH |
Room B, 14/F., Block 12, Site 11, Whampoa Gardens, 6 Tak Hong
Road, Hunghom, Kowloon, Hong Kong. |
SHELLY DARSHAN PAREKH (AS PER REGISTRY DATED 20-09-2013)
The subject was incorporated on 20th September, 2011 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at “Flat F, 14/F., Alpha House, 27‑33 Nathan
Road, Kowloon, Hong Kong”, moved to Flat F, 9/F. of the same building in
November 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of watches
Employees: 3.
Commodities Imported: China,
Europe
Markets: Asian
countries, Europe, North America, Middle East
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$1,000.00
Profit or Loss: Kept
a balance account in 2013.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 1,000 ordinary shares of HK$1.00 each, Color Maple Ltd. is
jointly owned by Mr. Darshan Pradeep Parekh, holding 10% interests; and
Mr. Shelly Darshan Parekh, holding 90%.
Both are Hong Kong ID holders and have got the right to reside in Hong
Kong permanently. They are also
directors of the subject.
Incorporated in September 2011, the subject is a watch trader. It has had an associated company Uni Global
Ltd. [Uni Global], a Hong Kong-registered company, located at the same
address. Uni Global is also owned and
operated by Darshan Pradeep Parekh.
The subject and Uni Global are trading in the following products:
Quartz Watches, Quartz Analog Watches, Men’s Watches, Automatic Watches,
Ladies’ Watches
The subject’s watches are exported to the other Asian countries, Europe,
North America, Middle East. Business is still under development.
The businesses of the subject and Uni Global are chiefly handled by the
two Parekhs.
In order to penetrate the international market further, Uni Global has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it is going to
take part in “Hong Kong Watch & Clock Fair 2014” which will be held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 3rd
to 7th September, 2014.
The history of the subject in Hong Kong is just over two years. On the
whole, since the history of the subject is short, consider it good for normal
business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.103.00 |
|
Euro |
1 |
Rs.81.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.