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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LINK FAI LTD. |
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Registered Office : |
Room B, 13/F., Kok Pah Mansion, 58 Cameron Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.07.2010 |
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Com. Reg. No.: |
52725947 |
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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, watches,
jewellery |
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No. of Employees : |
3. (Including associate) |
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 Business |
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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 |
|
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 |
LINK FAI LTD.
ADDRESS: Room B, 13/F., Kok Pah
Mansion, 58 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.
(Formerly registered located at: c/o KNG Consultants
Unit 605, 6/F., Stag Building,
148-150 Queen’s Road Central,
Hong Kong.)
PHONE: 852-6147 3425
FAX: 852-3014 4524
Managing Director: Mr. Saurabh
Pandit
Incorporated on: 29th July, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond
& Watch Trader.
Employees: 3. (Including associate)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
LINK FAI
LTD.
Registered Head
Office:-
Room B, 13/F., Kok Pah Mansion, 58 Cameron Road, Tsimshatsui, Kowloon,
Hong Kong.
Associated
Company:-
Skylight Ltd., Hong Kong.
52725947
1486635
Managing Director: Mr. Saurabh
Pandit
Contact Person: Mr. Shorabh
Bhai
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 29-07-2013)
|
Name |
|
No. of shares |
|
Saurabh PANDIT |
|
10,000 ===== |
(As per registry dated 29-07-2013)
|
Name (Nationality) |
Address |
|
Saurabh PANDIT |
Flat 602, Deema Building, Street 11B, Mankhool, Dubai, UAE. |
(As per registry dated 29-07-2013)
|
Name |
Address |
Co. No. |
|
Central Dynamic Secretarial Ltd. |
Unit 705-706, 7/F., Greenfield Tower, Concordia Plaza, 1 Science
Museum Road, Tsimshatsui, Kowloon, Hong Kong. |
0563433 |
The subject was incorporated on 29th July, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly the registered address of the subject was located at c/o KNG
Consultants, Unit 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong
Kong, moved to “Room B, 13/F., Kok Pah Mansion, 58 Cameron Road, Tsimshatsui,
Kowloon, Hong Kong” where is its operating address in February 2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds, watches, jewellery
Employees: 3. (Including associate)
Commodities Imported: US, UAE,
India, Europe, etc.
Markets: Hong
Kong, UAE, India, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
a small profit in 2012 & 2013.
Condition: Business keeps on improving.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Link Fai Ltd. is
wholly owned by Mr. Saurabh Pandit who is an Indian. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the
subject. His registered address is in
the United Arab Emirates.
The subject commenced business in July 2010.
The subject’s operating address is in a private building located at Room
B, 13/F., Kok Pah Mansion, 58 Cameron Road, Tsimshatsui, Kowloon,
Hong Kong. The residential building
is not trespassed by outsiders.
However, the old registered address of the subject was located at Unit
605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong where was the
operating office of a consulting firm KNG Consultants.
The subject has had an representative in Hong Kong known as Shorabh
Bhai, an Indian, who can be reached at his Hong Kong mobile phone number
852-6147 3425.
Shorabh Bhai and Saurabh Pandit belong to the same family.
According to Shorabh Bhai, the subject is trading in the following
commodities:-
Diamonds, jewellery, watches, precious stones, etc.
The subject’s commodities are imported from the United States, the
United Arab Emirates, Europe, etc. Prime
markets are India, the United Arab Emirates, the other Asian countries,
etc. Business keeps on improving. The subject has 3 employees in Hong Kong.
The subject has had an associated company Skylight Ltd. [Skylight]
located at a different address. Skylight
and the subject are engaged in the same lines of business and carrying the same
commodities. Saurabh Pandit is one of
the directors of it. The business of
Skylight is also handled by Shorabh Bhai.
In order to penetrate the international market further, the subject will
take part in fairs and exhibitions which are held in Hong Kong.
The subject’s business is chiefly handled by Shorabh Bhai. History in Hong Kong is just over three
years.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis or in very small credit
amounts for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.