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Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
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Name : |
INTEXPORT |
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Registered Office : |
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.12.1987 |
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Com. Reg. No.: |
10548309-003-05 |
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Legal Form : |
Sole Ownership. |
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Line of Business : |
Importer, Exporter and Wholesaler of Stainless Steel, Raw materials, Metal, and Finished Products |
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No. of Employees |
10 |
RATING & COMMENTS
|
MIRAs 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 : |
Good |
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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 |
INTEXPORT
ADDRESS: Room 1635, 16/F., Star House, 3
Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2735 7758, 2735 7759
FAX: 852-2730 0946, 2730 1817
E-MAIL: general@amersonic.com
Manager: Mr. Madhur Dugar
Establishment: 12th December, 1987.
Organization: Sole Ownership.
Capital: Not disclosed
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$250~350 million (Including Sole Owner)
Employees: 10. (Including Sole Owner)
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
INTEXPORT
ADDRESS:
Head
Office:-
Room 1635, 16/F., Star
House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
Sister
Companies:-
Texchemie, Hong Kong. [BR No. 10548309-001]
* Nippon Unitech Industrial Co., Hong Kong. [BR No. 10548309-002]
* Concentra, Hong Kong. [BR No. 10548309-004]
* Alwynco, Hong Kong. [BR No. 10548309-005]
* Far East Test and Measurement Systems Co., Hong Kong.
[BR No. 10548309-006]
Amersonic International, Hong Kong. [BR No. 10548309-007]
* Lightex, Hong Kong. [BR No. 10548309-008]
* Alpine Silk, Hong Kong. [BR No. 10548309-009]
Success Engineering, Hong Kong. [BR No. 10548309-010]
* Hong Kong Yaten, Hong Kong. [BR No. 10548309-011]
* Shanghai Shibang Machinery Co., Hong Kong.
[BR No. 10548309-012]
Great China Alliance, Hong Kong. [BR No. 10548309-013]
Sabko International, Hong Kong. [BR No. 10548309-014]
* Polychemin, Hong Kong. [BR No. 10548309-015]
Associated
Companies:-
Amersonic
International Ltd., Hong Kong. (Same
address)
Ginda Industries
Ltd., Hong Kong. [Dissolved]
* (Business Ceased)
10548309-003-05
Manager: Mr. Madhur Dugar
Contact
Person: Mr. Ritesh Dugar
Unisilk Ltd., Hong
Kong. (See attachment)
The
subject was established on 12th December, 1987 as a sole ownership firm with
Unisilk Ltd. as the proprietor under the Hong Kong Business Registration
Regulations.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Stainless Steel, Raw materials, Metal, and Finished Products.
Employees: 10. (Including Sole Owner)
Commodities Imported: China, India, Russia, etc.
Markets: Asia, Europe, etc.
Annual Turnover: HK$250~350 million (Including Sole Owner)
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Capital Provider: Provided by Sole Owner.
Profit or Loss: Sole owner makes a profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: Indian Overseas Bank, Hong Kong Branch.
Standing: Very Good.
Intexport
is one of the wholly-owned subsidiaries of Unisilk Ltd. [Unisilk] which is a
Hong Kong-registered firm.
The
subject commenced business in December 1987.
The
subject and Unisilk share the same operating office. It has been a steel and metal trader since
1986.
With
more than two decades of experience, Intexport is now one of the trustworthy
suppliers for various different grades of stainless steel and metal in
Asia. Besides Hong Kong, its offices are
in Foshan and Shenzhen Special Economic Zone of China, India, Vietnam. The subject also operates its own factories
and it also has strong links with some of the largest producers and therefore
it is able to provide cost-efficient supplies of various types of metal ranging
from different grades in stainless steel and carbon steel. These include coils, sheets, pipes, strips
and circles, metal products and utensils, etc.
Concerning stainless steel products, the subject trades in cold rolled
and hot rolled for grades 201, 202, 400 series and 304.
The
subject is trading in the following commodities:-
1. Supplies
all grades including 201 series, 300 series, 400 series;
2. Supplies
width from 30 mm -1500 mm depending on the grade needed by customers;
3. Supplies
SS like Hinges, Sinks, cutlery, flexible SS pipes, round bars, etc.
4. Supplies
all finishes like No.1 finish, 2B, BA, 6K, 8k, No.4, HL and PVD coloured
stainless steel;
5. Supplies
PCM/PPGI used for appliances manufacturing in cut to size sheets with width
above 600 mm and coils;
6. Supplies
carbon steel Cold rolled coils with width above 600 mm.; &
7. Supplies
thickness from 0.16 mm - 6 mm in Coils in 2B finish, Thickness 0.18 mm - 1.5 mm
in circles, and 2.5 mm - 30 mm in HR coils and plates.
According
to the subject, it exports about 3,000 to 4,000 MT of stainless steel every
month. Main markets are South America,
Eastern Europe, Southeast Asia, the Middle East, Central America, etc.
It
has developed good business relationship with most of the large mills in Asia.
It
seems that the business of the subject still has had rooms to expand its business
as the demands of iron and steel have been increasing in Asia.
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in China.
For instance, it is going to take part in 112th Canton Fair, Guangzhou,
Phase 1 (Autumn 2012) which was held in Guangzhou, Guangdong Province, China
during the period of 15 to 19th October, 2012.
It will take part in the same exhibition in Guangzhou in autumn of 2014.
Incorporated
on 9th May, 1986, Unisilk is experienced in sourcing a wide range of products
catering many different industries. It
is trading in many different kinds of products such as electronics, electric
appliances, electrical products, marble, building materials, grinding
machinery, stationery, skin care products, silk and silk fabrics, chemicals,
etc.
Unisilk
is an International Sourcing company dealing in a wide range of products with
offices in Hong Kong, Shenzhen, Yiwu, India, Bangkok and even Vietnam.
Unisilk
help clients in sourcing products from different countries with good quality
and competitive prices. According to
Unisilk, it has had its own manufacturing unit for Limestone Powder.
It
is regularly Selling: limestone powder, aluminium composite panels, stainless
steel coils, glass blocks, laminate flooring, DVD players, PVC flex, zirconium,
caustic soda flakes.
It
is also regularly Buying: caustic soda flakes, PVC resin, polypropylene, PP,
LLDPE, LDPE, DOP, EVA, etc.
Unisilk
has set up a number of subsidiaries in order to trade different products while
the subject is one of them.
Owned
by the Dugar family, Unisilk has been increasing its scope of business.
Unisilk
is a member of The Indian Chamber of Commerce Hong Kong, a based organization.
The
business of Unisilk is active, so does the subject.
The
directors of Unisilk are Mr. Sajjan Dugar and Mr. Madhur Dugar. Both of whom are Hong Kong ID Card holders
and have got the right to reside in Hong Kong permanently.
The
annual sales turnover of Unisilk ranges from HK$250~350 million . Making a small profit every year.
The
subject is fully supported by Unisilk.
The
history of Unisilk in Hong Kong is over twenty-eight years.
On
the whole, in view of the parentage and lines of business of the subject,
consider it good for normal business engagements.
UNISILK LTD.
ADDRESS: Room 1635, 16/F., Star House, 3
Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
10548309
0169007
9th May, 1986.
Nominal Share
Capital: HK$39,400,000.00 (Divided into 394,000 shares of HK$100.00 each)
Issued Share
Capital: HK$39,400,000.00
(As
per registry dated 29-05-2013)
|
Name |
|
No.
of shares |
|
Madhur
DUGAR |
|
122,442 |
|
Sajjan DUGAR |
|
271,558 |
|
|
|
|
|
|
Total: |
394,000 ====== |
(As
per registry dated 09-05-2013)
|
Name (Nationality) |
Address |
|
Madhur DUGAR |
A3-4, 9/F., Hong Yuen Court, 1-5 Tak Shing
Street, Kowloon, Hong Kong. |
|
Sajjan DUGAR |
A3-4, 9/F., Hong Yuen Court, 1-5 Tak Shing
Street, Kowloon, Hong Kong. |
(As
per registry dated 29-05-2013)
|
Name |
Address |
Co.
No. |
|
Lodestar
Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.42 |
|
|
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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 SCs 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.