MIRA INFORM REPORT
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Report No. : |
314492 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
J & M DESIGNER'S LTD. |
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Registered Office : |
Flat B3, 9/F., Block B, Hankow Centre, 4 Ashley Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.07.1992 |
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Com. Reg. No.: |
16150297 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF GARMENTS, FABRICS, TEXTILE PRODUCTS,
TOYS, FLOOR TILES, CERAMICS |
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No. of Employee : |
1. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company
name and address
J & M DESIGNER'S LTD.
ADDRESS: Flat B3, 9/F., Block
B, Hankow Centre, 4 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2369 2368
FAX: 852-2367 3193
E-MAIL: jnmdl123@hkstar.com
MANAGEMENT
Managing Director: Mohammad Saleh
Gaziani
SUMMARY
Incorporated on: 21st July, 1992.
Organization: Private Limited
Company.
Issued Share Capital: HK$500,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: HBZ
Finance Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Flat B3, 9/F., Block B, Hankow Centre, 4 Ashley Road, Tsimshatsui,
Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
16150297
COMPANY
FILE NUMBER
0369429
MANAGEMENT
Managing Director: Mohammad Saleh
Gaziani
ISSUED
SHARE CAPITAL
HK$500,000.00
SHAREHOLDERS
(As per registry dated 21-07-2014)
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Name |
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No. of shares |
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Mohammad Saleh GAZIANI |
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255,000 |
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Sofia SALEH |
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245,000 |
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––––––– |
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Total: |
500,000 ====== |
DIRECTORS
(As per registry dated 21-07-2014)
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Name (Nationality) |
Address |
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Sofia SALEH |
Room B3, 9/F., Block B, Hankow Centre, 4 Ashley Road, Tsimshatsui,
Kowloon, Hong Kong. |
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Mohammad Saleh GAZIANI |
Room B3, 9/F., Block B, Hankow Centre, 4 Ashley Road, Tsimshatsui,
Kowloon, Hong Kong. |
SECRETARY
Sofia SALEH (As per registry
dated 21-07-2014)
HISTORY
The subject was incorporated on 21st July, 1992 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Bedon Ltd., name
changed to the present style on 22nd October, 1992.
Formerly the subject was located at Unit D, 3/F., Comfort Building, 86‑88 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in recent
months.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer, Exporter
and Wholesaler.
Lines: Garments, Fabrics,
Textile Products, Toys, Floor Tiles, Ceramics, etc.
Employee: 1.
Commodities Imported: China, India,
other Asian countries
Markets: India, other Asian
countries
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$500,000.00
Mortgage or
Charge:-
Date of Mortgage: 12-12-2005
Amount: All monies
Property: 1/720th parts or
shares of and in Kowloon Inland Lot No. 8219 (Flat B3 on the 9/F. of Hankow
Centre, Kowloon, Hong Kong.)
Mortgagee: HBZ Finance Ltd.,
Hong Kong.
Profit or Loss: Making a small
profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: HBZ Finance Ltd.,
Hong Kong.
Standing: Small.
GENERAL
Having issued 500,000 ordinary shares of HK$1.00 each, J & M
Designer’s Ltd. is jointly owned by Mr. Mohammad Saleh Gaziani, holding 51%
interests; Ms. Sofia Saleh, holding 49%.
Both of whom are Indian. They are
Hong Kong ID Card holders and have got the right to reside in Hong Kong
permanently. They are also directors of
the subject.
The subject’s registered address is in a private building located at
Room B3, 9/F., Block B, Hankow Centre, 4 Ashley Road, Tsimshatsui, Kowloon,
Hong Kong. This is the residence of
the shareholders of the subject. The
phone number of the subject is 852-2369 2368.
Mohammad Saleh Gaziani can be reached at his Hong Kong mobile phone
number 852-9027 0040.
The subject is trading in the following commodities: Piecegoods -
Vegetable Fibre, Yarn, Suits & Jackets - Men’s, Suits & Jackets -
Women’s, Children’s Wear, Belts, Other Textile Products, Toys‑Plastic,
Freewheel, Toys - Plastic , Friction Driven, Wall & Floor Tiles, Ceramics
It also trades in the other commodities as entrusted by customers. It is also a commission agent.
Most of the products are exported to India, the other Asian countries,
the Middle East, etc. Business is rather
active.
The subject’s commodities are chiefly sourced from China. It usually takes part in Canton Fair which is
held in Guangzhou City, Guangdong Province, China biannually.
The annual sales turnover of the subject ranges from US6 to 8 million.
According to the subject, it is an international purchaser. Business is chiefly handled by the two
shareholders. The subject’s history in
Hong Kong is over 22 years and eight months.
On the whole, consider the subject good for normal business engagements
in moderate 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.62.33 |
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1 |
Rs.92.53 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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 |
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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.