MIRA INFORM REPORT

Report Date :

01.09.2014

IDENTIFICATION DETAILS

Name :	GLOBAL BUSINESS ENTERPRISES
Formerly Known As :	CRYSTAL TRADING H.K CO.
Registered Office :	c/o Hong Kong Special Shop, G/F., 190 Temple Street, Yaumatei, Kowloon
Country :	Hong Kong
Date of Incorporation :	12.02.2003
Com. Reg. No.:	33341718-000-02
Legal Form :	Sole Proprietorship
LINE OF BUSINESS :	IMPORTER, EXPORTER OF MEDICAL ITEMS, STATIONARY ITEMS, TOOLS & EQUIPMENT, UMBRELLA & RAINCOAT, CAMERA & ACCESSORIES, ELECTRONIC PRODUCTS, GARMENT & ACCESSORIES, TEXTILE PRODUCTS, FURNITURE, HOUSEHOLD PRODUCTS
No of Employees :	01

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
Payment Behaviour :	No Complaints
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 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

NOTE:

(Formerly located at:-

No. 2G, G/F., Nanking Street, Yaumatei, Kowloon, Hong Kong.)

Company name & address

GLOBAL BUSINESS ENTERPRISES

ADDRESS: c/o Hong Kong Special Shop

G/F., 190 Temple Street, Yaumatei, Kowloon, Hong Kong.

PHONE: Not available.

MANAGEMENT

Manager: Mr. Shanker Kalidas Sharma

SUMMARY

Establishment: 12th February, 2003.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Exporter

Employee: 1.

Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company name & address

GLOBAL BUSINESS ENTERPRISES

ADDRESS:

Head Office:-

c/o Hong Kong Special Shop

G/F., 190 Temple Street, Yaumatei, Kowloon, Hong Kong.

Guangzhou Representative Office:-

Room 821, GITIC Commercial Centre, 1 Huangtian Zhi Street, Lujing Road, Yuexiu District, Guangzhou City, Guangdong Province, China.

[Tel: 86-20-8349 7557

Fax: 86-20-8349 7516

E-mail: sales@gbecn.com]

BUSINESS REGISTRATION NUMBER

33341718-000-02

MANAGEMENT

Manager: Mr. Shanker Kalidas Sharma

SOLE PROPRIETOR

Name: Shanker Kalidas SHARMA

Residential Address: Flat 2G, G/F., Nanking Street, Yaumatei, Kowloon, Hong Kong.

HISTORY

The subject was established on 12th February, 2003 as a sole proprietorship concern owned by Mr. Shanker Kalidas Sharma under the Hong Kong Business Registration Regulations.

Originally the subject was registered under the name of Maha Laxmi Trading Co., name changed to Crystal Trading (H.K) Co. [or known as Crystal Trading H.K Co.] on 21st March, 2005, changed to the present style on 27th April, 2005.

Formerly the subject was located at No. 2G, G/F., Nanking Street, Yaumatei, Kowloon, Hong Kong, moved to the present address in July, 2013.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter

Lines: Medical items, stationary items, tools & equipment, umbrella & raincoat, camera & accessories, electronic products, garment & accessories, textile products, furniture, household products

Employee: 1.

Commodities Imported: China, etc.

Markets: India, Sri Lanka, Nepal, etc.

Terms/Sales: As per contracted.

Terms/Buying: COD or as per contracted.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Making a very small profit every year.

Condition: Keeping in a normal manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: Bank of China (Hong Kong) Ltd., Hong Kong.

Standing: Small.

GENERAL

Global Business Enterprises is a sole proprietorship set up and owned by Mr. Shanker Kalidas Sharma who is an India merchant. He is an India passport holder.

The subject is using the operating address of Hong Kong Special Shop which is located at G/F., 190 Temple Street, Yaumatei, Kowloon, Hong Kong as its registered address.

The subject’s main office is in Guangzhou City, Guangdong Province, China. The business registration number of the Guangzhou Office is 440101500005197. The Guangzhou Office commenced business in 1999 but it registered with the Chinese Government on 14th October, 2004.

Your given phone and fax number belongs to the Guangzhou Office. However, your given numbers are incomplete as there is a number missing.

Most of the time Shanker Kalidas sharma is in the China office. He is manager of the subject. The sales contact is Shanker Kalidas Sharma who is also an Indian.

The subject is trading in the following commodities: medical items (including all kinds of disposable syringes), stationary items (including pens, files, folders, paper products, sporting goods, etc.), tools & equipment, umbrella & raincoat, camera & accessories, electronic products, garment & accessories, textile products, furniture, household products, etc.

Most of the commodities are sourced from the manufacturers of China, especially in Guangdong Province, China.

The subject also offer customers with the following services:-

· Commodities Sourcing;

· Commodities Inspecting, Testing, Quality Assurance; &

· Shipping (by Express Courier, DHL/EMS, by air-freight, LCL/FCL)

According to the subject, most of its customers are in India, Sri Lanka, Nepal, etc. Other international markets are under development.

The business of the China Office is chiefly handled by Shanker Kalidas Sharma. Overall business is normal.

However, the business of the subject in Hong Kong is not very active. History is over eleven years.

On the whole, consider the subject good for normal business engagements in small credit amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.47
UK Pound	1	Rs.100.35
Euro	1	Rs.79.86

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SMN

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%)

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