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Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CENTURY EXPORTS LTD. |
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Registered Office : |
Room 1213, 12/F., |
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Country : |
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Date of Incorporation : |
22.07.2009 |
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Com. Reg. No.: |
50813706 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Telecommunication
equipment, mobile phone and all accessories, health products, stone products |
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No. of Employees |
05 |
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 company |
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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
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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.
Source : CIA
CENTURY EXPORTS
LTD.
ADDRESS: Room 1213, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
PHONE: 852-2199 7467, 2367 3062
FAX: 852-2125 8441
E-MAIL: info@centuryhkchina.com
Managing Director: Mr. Sandeep Kumar Dhanuka
Incorporated on: 22nd June, 2009.
Organization: Private Limited Company.
Issued Capital: HK$25,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$55~60 million (Including associates)
Employees: 5. (Including associates)
Main Dealing Banker: HBZ Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1213, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
Associated Companies:-
Century Exports, Hong Kong. (Same address)
Century Traders, Hong Kong. (Same address)
Galaxmial Predera International, Hong Kong.
Galaxmial Predera Trading (H.K.) Co. Ltd., Hong Kong. [Dissolved]
Galaxmial Telecom Ltd., Hong Kong. [Dissolved]
50813706
1347386
Managing Director: Mr. Sandeep Kumar Dhanuka (Mobile: 852-9342 9600)
Contact Person: Mr. Singh Kulwinder
ISSUED CAPITAL: HK$25,000,000.00
Nominal Share Capital: HK$5,100,000.00 (Divided into 5,100,000 shares of HK$1.00 each)
Issued Share Capital: 5,100,000.00
SHAREHOLDER: (As per registry dated 22-06-2014)
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Name |
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No. of shares |
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Sandeep Kumar DHANUKA |
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25,000,000 ======== |
DIRECTOR: (As per registry dated 22-06-2014)
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Name (Nationality) |
Address |
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Sandeep Kumar DHANUKA |
Flat C, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY: (As per registry dated 22-06-2014)
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Name |
Address |
Co. No. |
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Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong. |
1273165 |
The subject was incorporated on 22nd June, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat C, 11/F., Windsor Mansion, 29‑31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from 18th September, 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Telecommunication equipment, mobile phone and all accessories, health products, stone products, etc.
Employees: 5. (Including associates)
Commodities Imported: Imported from Europe, China, other Asian countries, etc.
Markets: Southeast East, Africa, the Middle East, India, etc.
Annual Turnover: HK$55~60 million (Including associates)
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C and T/T.
Issued Capital: HK$25,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Made small profits in the past three years.
Condition: Keeping in a normal manner.
Facilities: Rather actively using general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
HBZ Finance Ltd., Hong Kong.
Bank of Baroda, Hong Kong Branch.
Citibank, N.A., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 25 million ordinary shares, Century Exports Ltd. is wholly owned by Mr. Sandeep Kumar Dhanuka 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 the only director of the subject. Dhanuka can be reached at his Hong Kong mobile phone number 852-9342 9600.
The subject has had an affiliated company Century Traders which is also located at the same address. The subject and Century Traders are engaged in the same lines of business, more or less.
The subject is a telecommunication equipment and accessories trader. It is also a trader, exporter and distributor of a wide range of GSM, CDMA and Dual-Band mobile phones and its original accessories like hand free kit, battery charger, battery pack, etc.
The subject is trading in all major brands of Mobile phones like Nokia, Samsung, Apple, Blackberry, Sony Ericsson, Motorola along with the leading Chinese brands like G’Five and GLX.
With its Headquarters in Hong Kong, the subject has its subsidiary offices in Singapore, Guangzhou, Yiwu , Shenzhen (all are in China), New York (US), New Delhi (India) and Calcutta (also in India).
The subject has registered with the Office of the Communications Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00132922-RU.
Since 2010, the subject has been trading in health care products such as glucose test-strips and surgical items, etc.
Since 2012, the subject has been manufacturing machine-cut chatons (imitation stone), glass beads, hotfix, stone chains and different shapes and sizes of imitation stones.
Besides, the subject has set up Century Exports-China Division which is dealing in a vast variety of products ranging from furniture and fittings, machinery, tiles and a whole lot of other sundry goods depending upon the customers’ demands. This Division is responsible for products sourcing and merchandising and going all the way to inspections for quality control , shipping and other follow ups.
The annual sales turnover of the subject ranges from HK$55 to 60 million. Making a small profit every year.
The history of the subject is just over five years in Hong Kong.
On the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
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24-05-2010 |
Instrument: Memorandum Property: Distinctive 91220300001174 03-05-2010 US$248,119.70 02-05-2011 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
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04-07-2011 |
Instrument: Memorandum Property: Distinctive 91220300001174 02-05-2011 US$250,678.64 01-05-2012 91220300001521 28-06-2011 HK$1,600,000.00 28-09-2011 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
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10-12-2012 |
Instrument: Lien & Set-off Agreement Property: Deposit No. Favouring Amount Due Date 1193 Century Exports Ltd. HK$2,500,000.00 11-03-2013 Mortgagee: HBZ Finance Ltd., Hong Kong. |
For securing (general credit facility) |
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20-06-2013 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and comprising the Accounts maintained with Citibank, N.A., any branch and Citibank (Hong Kong) Ltd. Mortgagee: Citibank, N.A., Hong Kong. |
All moneys |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.00 |
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1 |
Rs.102.19 |
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Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
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Analysis Done by
: |
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.