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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNLIGHT GEMS |
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Registered Office : |
Flat B2, Block B, 9/F., Hankow Centre, 4A Ashley Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.04.2006 |
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Com. Reg. No.: |
36608864-000-04 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF GEM STONES. |
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No of Employees : |
3 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
SUNLIGHT GEMS
ADDRESS: Flat B2, Block B, 9/F.,
Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2739
6620
FAX: 852-2739
6630
MANAGEMENT:
Manager: Mr. Rajesh Kumar Jain
Establishment: 4th April, 2006.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Gem Stone
Trader.
Employees: 3.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SUNLIGHT GEMS
Head Office:-
Flat B2, Block B, 9/F., Hankow Centre, 4A Ashley Road, Tsimshatsui,
Kowloon, Hong Kong.
36608864-000-04
Manager: Mr. Rajesh Kumar Jain
Name: Mr. Rajesh Kumar JAIN
Residential Address: 10/662,
Kaveri Path, Mansarowar, Jaipur (Raj), India.
The subject was established on 4th April, 2006 as a sole proprietorship
concern owned by Mr. Rajesh Kumar Jain under the Hong Kong Business
Registration Regulations.
Initially the subject was located at Flat E, 10/F., Star Mansion, 3-5
Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat H, 19/F. of the same
building in June 2006. The subject moved
to the present address in June 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of gem stones.
Employees: 3.
Commodities Imported: India,
Europe, other Asian countries
Markets: Asian
countries, Europe, North America
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Capital: Not disclosed.
Profit or Loss: Making a very
small profit in past five years.
Condition: Business is
normal.
Facilities: Making fairly
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.
Sunlight Gems is a sole proprietorship set up and owned by Mr. Rajesh
Kumar Jain who is an Indian. He is an
India passport holder.
The subject is carrying the following semi-precious stones: aquamarine,
pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine,
smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink
topaz, garnet, rose quartz.
It also trades in
the following main precious stones:-
·
Ruby (from Thailand);
·
Sapphire (from Ceylon);
·
Zambian Emeralds, Emeralds;
·
Tanzanite; &
·
Fancy Sapphire.
For precious stones, the subject has all sizes in the diamond cut and
normal cut (in rounds). Prime markets
are Southeast Asia, the Middle East, Europe and North America. Business is normal.
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 is going to
take part in “HKTDC Hong Kong International Diamond, Gem & Pearl Show 2015”
which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the
period of 2nd to 6th March, 2015.
The subject’s business is chiefly handled by Jain himself. History in Hong Kong is over eight years
and seven months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
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Report Prepared
by : |
TPT |
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.