|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUPER COLLECTION |
|
|
|
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Registered Office : |
Unit 13, Block C, 10/F., Eldex Industrial Building, 21 Ma
Tau Wai Road, Hunghom, Kowloon |
|
|
|
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Country : |
Hong Kong |
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|
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Date of Incorporation : |
20.03.1999 |
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|
|
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Com. Reg. No.: |
22333996-000-03 |
|
|
|
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Legal Form : |
Sole Proprietorship Concern |
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|
|
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Line of Business : |
Sole Proprietorship |
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|
|
|
No of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
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|
|
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Payment Behaviour : |
No Complaints |
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|
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
SUPER COLLECTION
ADDRESS: Unit 13, Block C, 10/F., Eldex Industrial
Building, 21 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2311 2145
FAX: Not available
Manager: Mr. Kamlesh Surendra
Modi
Establishment: 20th March, 1999.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SUPER COLLECTION
Head Office:-
Unit 13, Block C, 10/F., Eldex Industrial Building, 21 Ma Tau Wai Road,
Hunghom, Kowloon, Hong Kong.
Mailing address:-
P.O. Box 86162, Gillies Avenue Post Office, Kowloon, Hong Kong.
Affiliated
Company:-
C. Mahendra Exports (H.K.) Ltd.
Flat 808, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom,
Kowloon, Hong Kong.
[Tel: 852-2311 2011]
22333996-000-03
Manager: Mr. Kamlesh Surendra Modi
Name: Mr. Kamlesh Surendra MODI
Residential Address: 11/F.,
Rear Portion, Ocean View Court, 25A Chatham Road, Tsimshatsui, Kowloon, Hong
Kong.
The subject was established on 20th March, 1999 as a sole proprietorship
concern owned by Mr. Kamlesh Surendra Modi under the Hong Kong Business
Registration Regulations.
Initially the subject was located at Room 108, 1/F., Wing On Plaza, 52
Mody Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 7 & 8, 8/F.,
Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong in
June 2004; to Flat B, 20/F., Block 12A, Costa Del Sol, Laguna Verde, 8 Laguna
Verde Avenue, Hunghom, Kowloon, Hong Kong in July 2004; to Flat 21E, 21/F.,
Block 10, Villa Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong in
May 2007, and further to the present address in early May 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 and jewellery products, etc.
Employee: 1.
Commodities Imported: India,
Belgium, other European countries, etc.
Markets: Japan,
Southeast Asia, Europe, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Capital: Not
disclosed.
Profit or Loss: Making
a very small profit every year.
Condition: Keeping in a normal
condition.
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.
Super Collection is a sole proprietorship set up and owned by Mr.
Kamlesh Surendra Modi who is an Indian.
Modi has been in Hong Kong for a very long time. It is likely that he has become a Hong Kong
ID Card holder and has got the right to reside in Hong Kong permanently. He is also manager of the subject.
The subject’s old registered address was located at Flat 21E, 21/F.,
Block 10, Villa Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong. This office was not in a commercial building
but a residential building.
The subject moved to this address in May 2007. The premises located at the above-mentioned
address is owned by C. Mahendra Exports (H.K.) Ltd. [CME] which is a Hong
Kong-registered firm. This firm is also
a diamond trader.
In early May 2014, the subject moved to the present address.
The subject is dealing in fine coloured diamonds, loose diamonds and
rare gemstones. Products include fancy
coloured diamonds, unusual rose cut and briolette cut diamonds. Most of the commodities are imported from
India and Europe. Prime markets are Hong
Kong, Japan, the other Asian countries, the Middle East, etc. Business is normal.
The subject kept a balance account or just made a very small profit in
most of the past years. However, it has
had sufficient working capital to support the current operating level.
The history of the subject in Hong Kong is over fifteen years. Regular customers and suppliers have been
maintained.
On the whole, consider it good for normal business in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.