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Report No. : |
319796 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
FOREVER IMPEX
LTD. |
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Registered Office : |
c/o Rimss (Hong Kong) Ltd. Unit 836, 8/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.11.2013 |
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Com. Reg. No.: |
62287733 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available (The subject’s lines of business are unknown since Rimss
declined to disclose any information about it) |
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No of Employees : |
No Employees in Hong Kong (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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
A1 |
A1 |
|
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 |
FOREVER IMPEX
LTD.
Registered
Office:-
c/o Rimss (Hong Kong) Ltd.
Unit 836, 8/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
62287733
1991681
6th November, 2013.
HK$10,000.00
(As per registry
dated 06-11-2014)
|
Name |
|
No.
of shares |
|
Mitul
Dhirajlal DESAI |
|
5,000 |
|
Pratik Dineshbhai DHARIYA |
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5,000 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 06-11-2014)
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Name (Nationality) |
Address |
|
Pratik Dineshbhai DHARIYA |
Flat No. 201, Ganesh Complex, Vihar
Soc, Katargam Singanpore Road, Surat 395004, India. |
|
Mitual
Dhirajlal DESAI |
302, Paras Darshan, Shankar
Lane, Opposite to New Marwadi School Kandivali (West), Mumbai 400067, India. |
(As per registry
dated 09-11-2014)
|
Name |
Address |
Co.
No. |
|
HK Business Solutions Ltd. |
Room A, 11/F., Kimley Building, 3 Kimberley Street,
Tsimshatsui, Kowloon, Hong Kong. |
2033910 |
The subject was incorporated on 6th November, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at ‘Room 1207, 12/F., Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong Kong’ where was the operating office of a commercial service provider. It moved to the present address in December 2014 as it has moved to the address of a Hong Kong – registered company known as Rimss (Hong Kong) Ltd.
Apart from these, neither material change nor amendment has been ever traced and noted.
Having issued 10,000 ordinary shares of HK$1.00 each, Forever Impex Ltd. is equally owned by Mr. Mitul Dhirajlal Desai and Mr. Pratik Dineshbhai Dhariya, both are India merchants.
They are India passport holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject. Their registered addresses are in India.
The subject does not have its own operating office. Its registered office is in a Hong Kong-registered company located at ‘Unit 836, 8/F., Beverley Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong’ known as ‘Rimss (Hong Kong) Ltd.’ [Rimss] which is handling its correspondences and documents.
The subject has no employees in Hong Kong.
The subject’s lines of business are unknown since Rimss declined to disclose any information about it.
We can reach nobody at your given Hong Kong mobile phone number 852‑5544 1505 as it is just a voice-mail box. We did not get any feedback although we had left a message.
Rimss is operated by Mr. Singh Manjit who is also an India merchant. Rimss is trading in mobile phones, calculators, 7” Digital Photo Frame, other electronic products.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year and two months.
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.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
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UK Pound |
1 |
Rs.96.55 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
|
-- |
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.