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Report No. : |
318129 |
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Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
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Name : |
JB IMPEX |
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Registered Office : |
Flat 1, 12/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
01.10.2007 |
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Com. Reg. No.: |
15133793-001-12 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer and Exporter of All kinds of diamonds |
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No. of Employees : |
01 |
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
|
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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects on
economic growth, particularly retail sales.
|
Source
: CIA |
JB IMPEX
ADDRESS: Flat 1, 12/F., Star
Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
MANAGEMENT:
Manager: Mr. Ameer Sultan Moosa
Naina
Establishment: 1st October, 2007.
Organization: Sole Ownership.
Capital Provider: Provided by
Sole Owner.
Business Category: Diamond
Trader.
Employee: 1.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fair.
JB IMPEX
Registered
Office:-
Flat 1, 12/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong
Kong.
15133793-001-12
Manager: Mr. Ameer Sultan Moosa
Naina
SOLE OWNER: Ameer Gems, Hong Kong.
The subject was established on 1st October, 2007 as a sole ownership
firm with Ameer Gems as the proprietor under the Hong Kong Business
Registration Regulations.
Originally the subject was located at Flat C, 6/F., Pacific Building, 65‑67B Kimberley
Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in August
2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of diamonds.
Employee: 1.
Commodities Imported: India, other
Asian countries, etc.
Markets: Hong
Kong, India, other Asian countries, Middle East, Europe, etc.
Terms/Sales: COD, L/C, T/T.
Terms/Buying: L/C, T/T.
Capital Provider: Provided
by Sole Owner.
Profit or Loss: Making a small
profit.
Condition: Business is normal.
Facilities: Adequate for current
running.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
JB Impex is solely owned and operated by Ameer Gems which is a
Hong Kong-registered company.
The Manager of the subject Mr. Ameer Sultan Moosa Naina is an India
merchant. He is a Hong Kong ID card
holder and has got the right to reside in Hong Kong permanently.
Business commenced in October 2007, the subject is a diamond, gem stone
and jewellery trader.
The subject’s registered address is in a residential building located at
Flat 1, 12/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon,
Hong Kong. Business is normal in
Hong Kong. This is also the residence of
Ameer Sultan Moosa Naina.
Ameer Gems was established on 7th December, 1991 as a partnership
jointly owned by Mr. Ameer Sultan Moosa Naina and Mr. Sadaka Thullah Moosa
Naina. Both of whom are Indian and
belong to the same family.
Ameer Gems changed to a sole proprietorship as Mr. Sadaka Thullah Moosa
Naina retired on 30th June, 2005. Now,
Ameer Gems is wholly-owned by Mr. Ameer Sultan Moosa Naina who is also manager
of the subject.
The subject is trading in loose diamonds, emerald, precious stones, ruby
jade, gem sets, semi-precious stones, etc.
Commodities are chiefly imported from India, Europe and other European
countries. Polished and cut diamonds are
marketed in Hong Kong, exported or re-exported to Japan, China, India and other
Asian countries.
The subject had got an employee in Hong Kong.
Since the subject’s registered address is in a residential building,
consider it good for business engagements on L/C basis or in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
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.