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Report No. : |
353511 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
A. R. WORLDWIDE |
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|
|
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Registered Office : |
Room A3, 3/F., Mai Shun Industrial Building, 18-24 Kwai Cheong Road, Kwai
Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.09.2001 |
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Com. Reg. No.: |
32049531-000-09 |
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Legal Form : |
Sole Proprietorship. |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of garment accessories. |
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Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
A. R. WORLDWIDE
ADDRESS: Room A3, 3/F., Mai Shun
Industrial Building, 18-24 Kwai Cheong Road, Kwai Chung, New Territories, Hong
Kong.
PHONE: 852-2174 4961
FAX: 852-3020 1741
E-MAIL: ken@arw.com.hk
Manager:
Mr. Araf Khan
Establishment: 7th
September, 2001.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: US$10-15
million.
Employees:
7.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
A. R. WORLDWIDE
ADDRESS:
Head
Office:-
Room A3, 3/F., Mai Shun Industrial Building,
18-24 Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.
China
Office:-
Unit 23D, 23/F., Tian Yi Court, Bai Jing
Garden, Humen Ave, Humen Town, 523900 Dongguan City, Guangdong Province, China.
[Tel: 86-769-85116307
E-mail:
terry@arw.com.hk]
Associated
Company:
A.R Worldwide Trims Ltd., Hong Kong.
32049531-000-09
Manager:
Mr. Araf Khan
Name: Mr. Araf KHAN
Residential Address: Flat C, 2/F., Block 6, Phase I, Laguna City, Kwun Tong,
Kowloon, Hong Kong.
The subject was established on 7th September,
2001 as a sole proprietorship concern owned by Mr. Araf Khan under the Hong
Kong Business Registration Regulations.
The subject has changed its registered
address for many times. Last time, it
was located at Room A, 7/F., Goldfield Industrial Building, Phase 1, 144‑150 Tai
Lin Pai Road, Kwai Chung, New Territories, Hong Kong, moved to the present
address in September 2010.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of garment accessories.
Employees: 7.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian
countries, Europe, etc.
Annual Turnover: US$10-15 million.
Terms/Sales:
As per contracted.
Terms/Buying: L/C, T/T, etc.
Capital: Not
disclosed.
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
A.R Worldwide is a sole proprietorship set
up and owned by Mr. Araf Khan who is also manager of the subject. He is a Hong Kong ID Card holder and has got
the right to reside in Hong Kong permanently.
The subject has had an associated company
A.R Worldwide Trims Ltd. [ARW] which is a Hong Kong-registered company. ARW and the subject are engaged in the same
lines of business.
The subject is trading in garment
accessories and hardware. It is now said
to be well poised to handle the exports of “TRIMS” worldwide.
The subject’s range of products includes
buttons of all types, zippers, buckles, stoppers, webbings, laces, ribbons,
fancy embellishments, labels, tags, thread, interlinings, etc.
The subject carries the following
commodities:
Buttons
Snaps & Jeans Buttons, Rubber Snap
Buttons, Snap Buttons, Polyester Snap Buttons, Epoxy Snap Buttons, Polyester
Buttons, Special Design Buttons, Rod Buttons, Horn Buttons, Fancy Jeans
Buttons, Pattern Printing & Wood Buttons, Rainbow Buttons, Imitation
Buttons (Imitation Shell Buttons, Imitation Tortoise / Mixed Buttons), Chalk
Buttons, Plastic Buttons, Agoya Shell Buttons, Sewon Button, Mother of Pearl
Buttons, Trocas Buttons, Fashion Buttons, Shell Buttons
Button Tops
Jeans Buttons & Button Tops, Snap Button
Tops, Button Tops & Alloy Button Tops, Alloy Snap Button Tops,
Fastener
Baby Snap Fastener <Kids 222>, Baby
Snap Fastener <Kids 333>, Pearl Head Snap Fastener, Spring Press Fastener
Other accessories
Decoration Series & Rivet, Hooks Series,
Eyelets, Fashion Rhine Stone Button & Toggle -Metal, Trouser Hooks, Fashion
Rhine Stone Button - Metal, Metal Tips, Acrylic Rhine Stone, Metal Labels &
Alloy D-Rings, Labels, Suspender Buckles, Trimmings, Buckles, Embroidered
Badges, D-Rings, PU/PVC Labels, Hangers & Size Clips, Single Plastic Clips,
Zippers, Sliders, Automatic Fastening Machine, Fastening Dies & Electric
Processor, Iron Studs, Hot Fix Motif, Rhine stones, Floking
Most of the commodities are sourced from
China. The subject has set up an office
in Dongguan City, Guangdong Province, China in order to facilitate the products
sourcing.
Now, the subject’s trims have been used
across the globe for brand labels like S&S, NOExcess, CWF, A.S.O, Redwood,
Galeries, Lafayatte, DKNY, TVM Germany, DPAM, Shoeby Fashion, Raymond, etc.
The subject also offer customers with
related services such as the followings:
Becoming the sole point of contact for all
the suppliers of its customers.
Following the orders and ensure on-time delivery.
Providing services for the consolidation of
shipments from various suppliers, thus might save cost on the Air Freight, bank
charges, T/T, etc.
The subject’s business is chiefly handled by
Araf Khan himself. History in Hong Kong
is over fourteen years and three months.
On the whole, consider the subject good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
HKD |
1 |
Rs.8.66 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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.