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Report No. : |
353930 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
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Name : |
J N EXPORTS |
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Registered Office : |
Room 607, 6/F., Guard Force Centre, 3 Hok Yuen Street, Hung Hom, Kowloon, |
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Country : |
Hongkong |
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Date of Incorporation : |
30.11.1990 |
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Com. Reg. No.: |
17915797-000-03 |
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Legal Form : |
Partnership |
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Line of Business : |
Importer and exporter; commission agent of all kinds of electronic goods, electric appliances, footwear, furniture, plastic products, garments, sundry goods. |
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No. of Employees : |
7. (Including associate) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
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 |
HON GKONG - 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 |
J N EXPORTS
ADDRESS: Room
607, 6/F., Guard Force Centre, 3 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong.
PHONE: 852-2368
7218, 2721 7488, 2723 1814
FAX: 852-2367
0659, 2724 2266
E-MAIL: jnexpo@netvigator.com
Manager: Mr.
Mool Chand Baid
SUMMARY
Establishment: 30th November, 1990.
Re-organized on: 16th March, 1994.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Importer
and Exporter; Commission Agent.
Employees: 7. (Including associate)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 607, 6/F., Guard Force Centre, 3 Hok Yuen Street,
Hung Hom, Kowloon, Hong Kong.
Mailing Address:-
P. O. Box 98438, Tsim Sha Tsui, Kowloon, Hong Kong.
Associated Company:-
Noche Rias Mond Group Pvt. Ltd., Hong Kong.
17915797-000-03
Manager: Mr. Mool
Chand Baid
(Hong Kong Mobile:
852-9094 4553)
Name: Mr. Rajani BAID
Residential Address: Flat
E, 8/F., Imperial Building, 58 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Name: Mr. Mool Chand BAID
Residential Address: Flat
B2, 15/F., Block B, Hankow Centre, 4A Ashley Road, Kowloon, Hong
Kong.
The company was
originally established on 30th November, 1990 as a sole proprietorship concern
owned by Mr. Nagesh Kumar Narda under the Hong Kong Business Registration
No. 14018427-000-11. Re-organized into a
partnership business jointly owned by Mr. Nagesh Kumar Narda and Mr. Mool
Chand Baid on 16th March, 1994 under new Business Registration No.
17915797-000-03.
The following table shows the changes of the partners:
|
Name |
Incoming
Date |
Outgoing
Date |
|
Mr. Nagesh Kumar Narda |
16-03-1994 |
31-03-2008 |
|
Mr. Mool Chand Baid |
16-03-1994 |
--- |
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Mr. Pooja Pinky Narda |
01-04-2008 |
31-03-2009 |
|
Mr. Rajani Baid |
01-04-2009 |
--- |
Formerly the subject
was located at ‘Unit E, 8/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon,
Hong Kong’, moved to the present address in November 2013.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer
and Exporter; Commission Agent.
Lines: All kinds of electronic
goods, electric appliances, footwear, furniture, plastic products, ` garments, sundry goods, etc.
Employees: 7 (Including associate)
Commodities Handled: Mainly
acquired in Hong Kong, imported from China, other Asian countries, etc.
Markets: India
(main), other Asian countries, etc.
Terms/Sales: L/C, T/T, D/P and D/A.
Terms/Buying: L/C or as per contracted.
Capital: Not
disclosed.
Profit & Loss: Traded
at a small profitable angle.
Condition: Keeping in an active manner.
Facilities: Making active use of general
banking facilities.
Payment: So far so good.
Commercial Morality:
Satisfactory.
Bankers:-
Indian Overseas Bank,
Hong Kong Representative Office.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
J N Exports is a
partnership jointly owned by Mr. Rajani
Baid and Mr. Mool Chand Baid, both are India merchants.
The latter is a Hong
Kong ID holder and has got the right to reside in Hong Kong permanently. He is also manager of the subject. He can be reached at his Hong Kong mobile
phone number 852-9094 4553.
The subject is
trading in the following commodities: All kinds of electronic goods, DVD
players, electric appliances, footwear, furniture, plastic products, garments,
sundry goods, etc.
The subject also trades in other commodities as entrusted
by foreign customers.
In order to acquire commodities from China, the subject
usually takes part in China Import & Export Fair which is held in
Guangzhou, Guangdong Province, China biannually.
Besides operating the subject, M C Baid is also operating
another company known as Noche Rias Mond Group Pvt. Ltd. [NRMGP].
NRMGP is equally owned by Mr. Shivang Baid and Mr. Mool
Chand Baid.
The business of the subject is chiefly handled by the
partners. History in Hong Kong is over
24 years and seven months.
On the whole, consider the subject good for normal
business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
|
HKD |
1 |
Rs. 8.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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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 |
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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.