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Report No. : |
351660 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
CHAU SHAN LTD. |
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Registered Office : |
Room 1401, 14/F., Beverley Commercial Centre, 87-105 Chatham Road
South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.01.2011 |
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Com. Reg. No.: |
53682378 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is a professional travel service and innovative travel product provider |
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No. of Employee : |
4 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
CHAU SHAN LTD.
Room 1401, 14/F.,
Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon,
Hong Kong.
Managing
Director: Mr. Pawan Kumar Khemka
Incorporated
on: 27th
January, 2011.
Organization: Private
Limited Company.
Issued Share
Capital: HK$1.00
Business
Category: Importer, Exporter and Travel Agent.
Employees: 4.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered Head Office:-
Room 1401, 14/F.,
Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon,
Hong Kong.
Operating Address:-
Shop No 87, G/F,
Chung King Mansion, 36-44 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.
[Phone: (852) 8157 5950
Email:
contactus@chaushanholidays.com]
Associated Companies:-
Ashu
International, Hong Kong.
Guru Exchange Co.
Shop No 95, G/F,
Chung King Mansion, 36-44 Nathan Road,Tsim Sha Tsui, Kowloon, Hong Kong.
[Phone: (852) 2311 7187
Fax: (852) 2739 9526
Email: guru95b@gmail.com]
53682378
1556871
Managing
Director: Mr. Pawan Kumar Khemka
HK$1.00
(As
per registry dated 27-01-2015)
|
Name |
|
No.
of share |
|
Pawan Kumar KHEMKA |
|
1 = |
(As
per registry dated 27-01-2015)
|
Name (Nationality) |
Address |
|
Pawan Kumar
KHEMKA |
Flat C, 13/F., Parc Regal, Tower 1, 19 Ho
Man Tin Hill Road, Kowloon, Hong Kong. |
(As
per registry dated 27-01-2015)
|
Name |
Address |
Co.
No. |
|
Gurung
& Shum Business Solutions Ltd. |
Unit 406B, 4/F., Mirron Tower, 61 Mody Road, Tsimshatsui East,
Kowloon, Hong Kong. |
1348317 |
The
subject was incorporated on 27th January, 2011 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Travel
Agent.
Lines: Travel agent.
Employees: 4.
Commodities
Imported: China, other Asian countries,
etc.
Markets: India, other Asian countries,
etc.
Terms/Sales/
Services: COD
or as per contracted.
Terms/Buying: Various
terms.
Issued Share
Capital: HK$1.00
Profit or Loss: Made a small profit in 2014.
Condition: Keeping in a normal manner.
Facilities: Adequate for current running.
Payment: Met
as required.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of
HK$1.00, Chau Shan Ltd. is wholly owned by Mr. Pawan Kumar Khemka who is an
India merchant.
He
is a Hong Kong ID holder and has got the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
He
has been in Hong Kong for a very long time as he has got his Hong Kong ID
before setting up the subject.
The
subject’s registered address is located at ‘Room 1401, 14/F., Beverley
Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong’
where is the operating office of Mobitronics International [MI]. MI is a mobile phone trader. It is trading in LG mobile phones.
The
subject’s operating address is located at Shop No 87, G/F, Chung King Mansion,
36-44 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong. It is a professional travel service and
innovative travel product provider.
The
subject is an inbound tour operator in Hong Kong and delivering high quality
services to its hotel partners and corporate clients.
For
the past years, the subject has grown from a young company originally dedicated
solely to local tours to one of the specialist leaders in the field, with a
much expanded service portfolio servicing the majority of 4-5 stars hotels and
travel companies in Hong Kong.
Besides
operating the subject, Mr. Pawan Kumar Khemka is operating two more companies
in Hong Kong, namely, Ashu International [AI] and Guru Exchange Co.
[Guru]. Both companies are located at
the same address at Shop No 95, G/F, Chung King Mansion, 36-44 Nathan Road,
Tsim Sha Tsui, Kowloon, Hong Kong.
Guru
and AI are a money exchangers, remittance agent. Their business also includes performing
functions related to depository banking.
The
business of the subject is chiefly handled by Pawan Kumar Khemka himself. History is over four years and ten months in
Hong Kong.
On
the whole, consider the subject good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.70.44 |
|
HKD |
1 |
Rs. 8.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
ASH |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
<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.