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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
A.R WORLDWIDE |
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Registered Office : |
Room A3, 3/F., Mai Shun Industrial Building, 18-24 Kwai
Cheong Road, Kwai Chung, New Territories, |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.09.2001 |
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Com. Reg. No.: |
32049531-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of garment
accessories |
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No. of Employees |
08 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
A.R WORLDWIDE
ADDRESS: Room A3, 3/F., Mai Shun Industrial Building, 18-24 Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2174 4961
FAX: 852-3020 1741
E-MAIL: ken@arw.com.hk
Manager: Mr. Arap Khan
Establishment: 7th September, 2001.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$10-15 million.
Employees: 8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room A3, 3/F., Mai Shun Industrial Building, 18-24 Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.
China Office:-
Unit 23D, 23/F., Tian Yi Court, Bai Jing Garden, Humen Ave, Humen Town, 523900 Dongguan City, Guangdong Province, China.
[Tel: 86-769-85116307]
32049531-000-09
Manager: Mr. Arap Khan
Name: Mr. Arap KHAN
Residential Address: Flat C, 2/F., Block 6, Phase I, Laguna City, Kwun Tong, Kowloon, Hong Kong.
The subject was established on 7th September, 2001 as a sole proprietorship concern owned by Mr. Arap Khan under the Hong Kong Business Registration Regulations.
The subject has changed its registered address for many times. Last time, it was located at Room A, 7/F., Goldfield Industrial Building, Phase 1, 144‑150 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong, moved to the present address in September 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of garment accessories
Employees: 8.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Europe, etc.
Annual Turnover: HK$10-15 million.
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, etc.
Capital: Not disclosed.
Profit or Loss: Making a small profit every year.
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.
A.R Worldwide is a sole proprietorship set up and owned by Mr. Arap Khan who is also manager of the subject. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.
The subject is trading in garment accessories and hardware. It is now said to be well poised to handle the exports of “TRIMS” worldwide.
The subject’s range of products includes buttons of all types, zippers, buckles, stoppers, webbings, laces, ribbons, fancy embellishments, labels, tags, thread, interlinings, etc.
The subject carries the following commodities:
Buttons
Snaps & Jeans Buttons, Rubber Snap Buttons, Snap Buttons, Polyester Snap Buttons, Epoxy Snap Buttons, Polyester Buttons, Special Design Buttons, Rod Buttons, Horn Buttons, Fancy Jeans Buttons, Pattern Printing & Wood Buttons, Rainbow Buttons, Imitation Buttons (Imitation Shell Buttons, Imitation Tortoise / Mixed Buttons), Chalk Buttons, Plastic Buttons, Agoya Shell Buttons, Sewon Button, Mother of Pearl Buttons, Trocas Buttons, Fashion Buttons, Shell Buttons
Button Tops
Jeans Buttons & Button Tops, Snap Button Tops, Button Tops & Alloy Button Tops, Alloy Snap Button Tops,
Fastener
Baby Snap Fastener <Kids 222>, Baby Snap Fastener <Kids 333>, Pearl Head Snap Fastener, Spring Press Fastener
Other accessories
Decoration Series & Rivet, Hooks Series, Eyelets, Fashion Rhine Stone Button & Toggle -Metal, Trouser Hooks, Fashion Rhine Stone Button - Metal, Metal Tips, Acrylic Rhine Stone, Metal Labels & Alloy D-Rings, Labels, Suspender Buckles, Trimmings, Buckles, Embroidered Badges, D-Rings, PU/PVC Labels, Hangers & Size Clips, Single Plastic Clips, Zippers, Sliders, Automatic Fastening Machine, Fastening Dies & Electric Processor, Iron Studs, Hot Fix Motif, Rhine stones, Floking
Most of the commodities are sourced from China. The subject has set up an office in Dongguan City, Guangdong Province, China in order to facilitate the products sourcing.
Now, the subject’s trims have been used across the globe for brand labels like S&S, NOExcess, CWF, A.S.O, Redwood, Galeries, Lafayatte, DKNY, TVM Germany, DPAM, Shoeby Fashion, Raymond, etc.
The subject’s business is chiefly handled by Arap Khan himself. History in Hong Kong is over twelve years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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|
Report Prepared
by : |
NIS |
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 |
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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.