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Report No. : |
352639 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BRIDIAM |
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Registered Office : |
Flat A4, 6/F., Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
21.02.2001 |
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Com. Reg. No.: |
31593513-000-02 |
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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 Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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 12.5% 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 |
BRIDIAM
ADDRESS: Flat A4, 6/F., Hankow
Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2366 3063
FAX: 852-2311 0919
MANAGEMENT:
Manager: Mr. Ahamed Kabir M. K.
A. B. Syed
Establishment: 21st February, 2001.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
and Gem Trader.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BRIDIAM
Head Office:-
Flat A4, 6/F., Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong
Kong.
31593513-000-02
Manager: Mr. Ahamed Kabir M. K.
A. B. Syed
Name: Mr. Ahamed Kabir M. K. A.
B. SYED
Residential Address: Flat A4,
6/F., Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 21st February, 2001 as a sole
proprietorship concern owned by Mr. Ahamed Kabir M. K. A. B. Syed under the
Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products.
Employees: 3.
Commodities Imported: India,
Belgium, other European and Asian countries.
Markets: Hong
Kong, Japan, Southeast Asia, Europe, Middle East.
Terms/Sales: COD, L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
Capital: Not
disclosed.
Profit or Loss: Making
a very small profit every year.
Condition: Business is normal.
Facilities: Adequate for current
running.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Bridiam is a sole proprietorship set up and owned by Mr. Ahamed Kabir M.
K. A. B. Syed who is an India merchant.
He is a Hong Kong ID Card holder and has got the right to reside in Hong
Kong permanently.
He has been in Hong Kong for a very long time as he has got his Hong
Kong ID before setting up the subject.
He is also manager of the subject.
The subject’s operating address is in a private and commercial building known
as Hankow Centre which is in Tsimshatsui, Kowloon, Hong Kong. The subject is in the private part of the
building located at Flat A4, 6/F., Hankow Centre, 47 Peking Road, Tsimshatsui,
Kowloon, Hong Kong. This address is also
the residence of the sole proprietor.
Currently, the
subject shares the office with the following two companies:-
Business commenced in February 2001, the subject is a polished and cut
diamond, gemstone importer, exporter and wholesaler. It is also a commission agent.
The subject trades in Alexandrite, emerald, precious stones, ruby jade,
gem sets, semi-precious stones, blue or coloured sapphire, Tanzanite.
Besides, it is trading in the following diamonds: Single-Cut Diamond,
Fullcut Loose Diamond, Carat Size Diamonds.
Commodities are chiefly imported from India, Thailand and Europe. Prime markets are Hong Kong, Japan, Southeast
Asia, Europe, the Middle East, etc.
Overall business is satisfactory.
The subject’s business is chiefly handled by Ahamed Kabir M. K. A. B.
Syed himself.
Reliance is also a Hong Kong-registered company. It is also a diamond trader. Established in February 1981, Reliance Trades
is a partnership jointly owned by Seyed Abdul Gani Seyed Abdul Kader, Asik Ali
Mohamed Sadakthamby and Seyed Abdul Kader Mafaz Mohamed. All the partners are Indian who are Hong Kong
ID holders and have got the right to reside in Hong Kong permanently. The second and third partners are also
residing in the operating office of the subject and Reliance Trades.
Wai Hing is also a diamond trader.
It was established on 3rd November, 2008. It is owned and operated by Mr. Asik Ali
Mohamed Sadakthambi who is also an India merchant.
The subject has developed business ties with a number of regular
suppliers in India and foreign customers.
Business is normal and profitable.
On the whole, since the history of the subject in Hong Kong is over
fifteen years and nine months, consider it good for normal business engagements
in moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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 |
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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.