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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAHA IMPEX HK LTD. |
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Registered Office : |
Room 501, 5/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.09.2010 |
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Com. Reg. No.: |
53018664 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS AND JEWELLERY PRODUCTS |
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No. of Employees : |
2. |
RATING & COMMENTS
|
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 |
RAHA IMPEX HK LTD.
ADDRESS: Room 501, 5/F., Hart Avenue
Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2311 5288
FAX: 852-2311 7599
Managing Director: Mr. Ankit
Sharda
Incorporated on: 22nd September, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$900,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
RAHA IMPEX
HK LTD.
Registered Head
Office:-
Room 501, 5/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon, Hong Kong.
53018664
1508149
Managing Director: Mr. Ankit
Sharda (Mobile: 852-6398 5168)
Nominal Share Capital: HK$3,000,000.00
(Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$900,000.00
(As per registry dated 22-09-2013)
|
Name |
|
No. of shares |
|
Aman SHARDA |
|
300,000 |
|
Ankit SHARDA |
|
600,000 |
|
|
|
––––––– |
|
|
Total: |
900,000 ====== |
(As per registry dated 22-09-2013)
|
Name (Nationality) |
Address |
|
Aman SHARDA |
Apartment Redtop JL. Pecenongan 72, Rt. 002/004, Kebon Kelapa Gambir Jakarta
Pusat, Indonesia. |
|
Ankit SHARDA |
D 58 Ext 1, Opp. Pratap Nagar Police Station, Kamla Nehru Nagar
Jodhpur, India. |
(As per registry dated 22-09-2013)
|
Name |
Address |
Co. No. |
|
C K Registrations Ltd. |
Room 902, 9/F., Bank Centre, 636 Nathan Road, Kowloon, Hong Kong. |
0803965 |
The subject was incorporated on 22nd September, 2010 as a private
limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat G, 7/F., Windsor Mansion, 17
Austin Avenue, Timshatsui, Kowloon, Hong Kong, moved to the present address in
October 2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products
Employees: 2.
Commodities Imported: India, other
Asian countries
Markets: Indonesia,
other Asian countries
Terms/Sales: L/C, T/T
Terms/Buying: L/C, advanced T/T, D/P
Nominal Share Capital: HK$3,000,000.00
(Divided into 3,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$900,000.00
Profit or Loss: Made
a very small profit in 2013.
Condition: Business
is improving.
Facilities: Making
fairly 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: Small.
Having issued 900,000 ordinary shares of HK$1.00 each, Raha Impex HK
Ltd. formerly was equally owned by Mr. Aditya Rathi, Mr. Aman Sharda and Mr.
Ankit Sharda. On 25th January, 2013,
Aditya Rathi retired and transferred all his shares to Ankit Sharda. Now, the subject is jointly owned by Ankit
Sharda, holding 66.7%, while Aman Sharda, holding 33.3%.
The two shareholders are also directors of the subject. Ankit Sharda is an India passport holder
while Aman Sharda is an Indonesia passport holder. However, Ankit Sharda can be reached at his
Hong Kong mobile phone number 852-6398 5168.
The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. It is significant for its
round shape and fancy shape diamonds.
Most of the commodities are imported from India. Prime markets are Hong Kong, Japan,
Indonesia and the other Asian countries.
Business is improving.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign large
cities. For instance, it took part in
“HKTDC Hong Kong International Jewellery Show 2014” which had been held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of
5th to 9th March, 2014. It will take
part in the same show in 2015 which will be held in the same Centre in March
2015.
The history of the subject in Hong Kong is just over three years.
On the whole, consider it good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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.