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Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
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Name : |
KAN-CHI INTERNATIONAL LTD. |
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Registered Office : |
Rear Portion, 14/F., |
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Country : |
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Date of Incorporation : |
05.03.2004 |
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Com. Reg. No.: |
34387050 |
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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 and jewellery products, emerald, precious stones |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
KAN-CHI INTERNATIONAL
LTD.
ADDRESS: Rear Portion, 14/F., Ocean View Court, 25
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2723 8004, 3178 2370,
3580 8686
FAX: 852-2723
4438, 3580 8932
E-MAIL: kajan.jewel@gmail.com
Managing Director: Mr. Pankil
Shah
Incorporated on: 5th March, 2004.
Organization: Private Limited
Company.
Capital: Nominal: HK$4,200,000.00
Issued: HK$4,200,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: Bank
of Communications Co. Ltd., Hong Kong Branch.
Banking Relation: Satisfactory.
KAN-CHI INTERNATIONAL
LTD.
Registered Head
Office:-
Rear Portion, 14/F., Ocean View Court, 25 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Kajan Jewellery Ltd., Hong Kong.
(Same address)
Kan-Chi International, Hong Kong.
(Ceased business)
[Jointly owned by Mr. Pankil Shah and Mr. Priyal Pankil Shah]
34387050
0886918
Managing Director: Mr. Pankil
Shah
Nominal Share Capital: HK$4,200,000.00 (Divided into 4,200,000 shares of
HK$1.00 each)
Issued Share Capital: HK$4,200,000.00
SHAREHOLDERS: (As
per registry dated 05-03-2014)
|
Name |
|
No. of shares |
|
Pankil SHAH |
|
3,360,000 |
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Priyal Pankil SHAH |
|
840,000 |
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–––––––– |
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Total: |
4,200,000 ======= |
DIRECTORS: (As per
registry dated 05-03-2014)
|
Name (Nationality) |
Address |
|
Pankil SHAH |
Flat A, 9/F., Ocean View Court, 27A Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
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Priyal Pankil SHAH |
Flat A, 9/F., Ocean View Court, 27A Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
SECRETARY: (As per
registry dated 05-03-2014)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan,
Hong Kong. |
1273165 |
The subject was incorporated on 5th March, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Flat A, 9/F., Ocean View Court,
27A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in 2009.
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, emerald, precious stones, etc.
Brand Name: “KCI”.
Employees: 2.
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.
Nominal Share Capital: HK$4,200,000.00
(Divided into 4,200,000 shares of HK$1.00 each)
Issued Share Capital: HK$4,200,000.00
Mortgage or Charge (Since 2009): (See attachment)
Profit or Loss: Made
small profits in the past years.
Condition: Keeping
in a normal manner.
Facilities: Making
rather active use of general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of Communications Co. Ltd., Hong Kong Branch.
Bank of India, Hong Kong Branch.
Standing: Small.
Having issued 4.2 million ordinary shares of HK$1.00 each, Kan-Chi
International Ltd. is jointly owned by Pankil Shah, holding 80% interests; and
Priyal Pankil Shah, holding 20%. Being
India merchants, they are also directors of the subject. They are also Hong Kong ID holders and have
got the right to reside in Hong Kong permanently.
The subject’s registered and operating office is in a private building
known as Ocean View Court.
The subject has got an associated company Kanjan Jewellery Ltd. [Kanjan]
located at the same operating address.
Having issued 4 million ordinary shares of HK$1.00 each, Kajan is
jointly owned by Pankil Shah, holding 55% interests; and Priyal Pankil Shah,
holding 45%. Kanjan and the subject are
engaged in the same lines of business.
The subject is a jewellery and diamond trader. It provides customers with all kinds of
jewellery including platinum, 14K and 18K gold jewellery set with diamonds,
precious stones and semi-precious stones, etc.
According to the subject, it possesses “unique and innovative designs at
competitive prices with a variety of selection”.
The followings are some of its significant products: diamond earrings,
diamond rings, white gold jewellery set, white gold diamond jewellery set, rose
gold jewellery set, carat size diamond and loose diamonds, etc.
Most of its products bear the brand name “KCI”.
It has expanded its markets to the other Asian countries, Europe, the
Middle East and the United States, etc.
Commodities such as polished diamonds, loose diamonds, etc. are chiefly
imported from India. Finished products
are exported to the above-mentioned markets.
The subject is also trading in South Sea pearls, white and colour diamonds,
diamond jewellery, gemset jewellery, platinum jewellery, etc.
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 Jewellery Show 2015” which will be
held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during
the period of 4th to 8th March, 2015.
The business of the subject and Kajan is chiefly handled by the Shah
family.
Since the history of the subject is over ten years, on the whole,
consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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UK Pound |
1 |
Rs.99.43 |
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Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
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|
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Report Prepared
by : |
SHG |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.