MIRA INFORM REPORT
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Report No. : |
314768 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE TRADING COMPANY |
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Registered Office : |
c/o WinGate Business Group Ltd. Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.03.2010 |
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Com. Reg. No.: |
51876070-000-03 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS AND JEWELLERY
PRODUCTS |
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No. of Employee : |
Not Available NOTE: It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No operating office in Hong Kong |
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Payment Behaviour : |
Unknown |
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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
UNIQUE TRADING COMPANY
ADDRESS: c/o
WinGate Business Group Ltd.
Room 3208, 32/F., Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong.
PHONE: 852-2916
8888
FAX: 852-2830
9998
E-MAIL: uniquetdgcompany09@gmail.com
MANAGEMENT
Manager: Mr. Amitkumar Chhanalal Shah
SUMMARY
Establishment: 5th
March, 2010.
Organization: Partnership.
Capital: Not
disclosed.
Business Category: Diamond Trader.
Employees: Nil.
Main Dealing
Banker: China CITIC Bank International
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Head Office:-
c/o WinGate
Business Group Ltd.
Room 3208, 32/F.,
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Associated Companies:- (Same owner)
Glow Star
Room 2301, 23/F.,
World-Wide House, 19 Des Voeux Road Central, Hong Kong.
Honeywell Impex
c/o Success
Business Centre
Room 1006, 10/F.,
Carnarvon Plaza, 20 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
51876070-000-03
MANAGEMENT
Manager: Mr. Amitkumar Chhanalal Shah
(Hong Kong Mobile
Phone No.: 852-6355 6984)
PARTNERS
Name: Mr. Amitkumar Chhanalal SHAH
Residential
Address: 21/A, Baba Ramdas Building,
Hemu Colony Cross Road, 2 Irani Wadi, Kandivali (W), Mumbai-400067, India.
Name: Mr. CHOI Kwok Lam
Residential
Address: Room 8, 9/F., Tak Lee
Building, 8 Tsing Yeung Circuit, Tuen Mun, New Territories, Hong Kong.
HISTORY
The subject was
established on 5th March, 2010 as a sole proprietorship concern owned by Mr.
Amitkumar Chhanalal Shah under the Hong Kong Business Registration Regulations.
It became a
partnership on 10th June, 2013 as a new partner Mr. Choi Kwok Lam joined in.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and
Wholesaler.
Lines: All kinds of diamonds
and jewellery products.
Employees: Nil.
Commodities
Imported: India, Belgium, other European
countries
Markets: Hong Kong, Japan, other
Asian countries
Terms/Sales: L/C,
T/T
Terms/Buying: L/C,
T/T
FINANCIAL
INFORMATION
Capital: Not disclosed.
Profit or Loss: Made small profits in past two
years.
Condition: Business is fairly active.
Facilities: Making use of general
banking facilities.
Payment: Met
trade commitments as contracted.
Commercial
Morality: Satisfactory.
Banker: China CITIC Bank International Ltd.,
Hong Kong.
Standing: Small.
GENERAL
Unique Trading Company is a is a partnership jointly owned by
Mr. Amitkumar Chhanalal Shah and Mr. Choi Kwok Lam. The former is an India passport holders while
the latter is a Hong Kong merchant.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 3208, 32/F., Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong known as WinGate Business Group Ltd. which is handling its
correspondences and documents.
We can reach A C Shah at his Hong Kong mobile phone number
852-6355 6984 as he is in Hong Kong.
. Mr. Shah is friendly and
co-operative.
The subject is a diamond importer, exporter and wholesaler. It is trading in single-cut diamond, fullcut
loose diamond, carat size diamonds, blue sapphire, etc. Most of the commodities are imported from
Europe, North America, etc. Prime
markets are Hong Kong, India, the other Asian countries, the Middle East,
etc. It is also a commission agent.
Shah and Choi are also the owners of Glow Star which is located at a
different address. Established on 5th
March, 2010, Glow Star is also a diamond trader.
Besides, Shah and Choi are also the owners of Honeywell Impex which is
located at the operating office of another secretarial firm.
Honeywell Impex is a Hong Kong-registered firm also trading in diamonds.
The subject is a two-man company.
History in Hong Kong is over five years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis
or in small credit amounts.
NOTE:
It is to be noted
that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
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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RAS |
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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.