MIRA INFORM REPORT
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Report No. : |
354178 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
V.J. ENTERPRISE |
|
|
|
|
Registered Office : |
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street,
Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
01.08.2009 |
|
|
|
|
Com. Reg. No.: |
50976615 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Trading of Consumer Goods. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
Contact Points
|
Company Name (in Chinese): |
永利實業 |
|
Company Name (in English): |
V.J. ENTERPRISE |
|
Supplied Name: |
V J ENTERPRISE |
|
Trading Address: |
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street,
Hung Hom, Kowloon, Hong Kong |
|
Supplied Address: |
7, 5/Floor, Lok Wah Building, Whanpoah Estate, 37 Takman Street, 37
Takman Street Hung Hom, |
Note: The exact name
and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Room 7, 5/F., Lok Wah Building, Whampoa
Estate, 37 Tak Man Street, Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-3160-1800/13425161015 (Mr. Patrick) |
|
Date of Registration: |
2009-08-01 |
|
Business Registration No.: |
50976615 |
|
Registered Capital: |
N/A |
|
Legal Form: |
Sole Proprietorship |
|
SITC Code: |
81315--Electric lamps and lighting fittings, N.E.S. (Kg) |
|
Principal Activities: |
Trading of consumer goods. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: We cannot obtain
the registered capital for the company with the legal form of Sole
Proprietorship. Subject declined to disclose the number of staff, and we cannot
obtain the information from other source. The supplied number (+852-9710-1014)
is not available.
History
Subject was incorporated on 2009-08-01 with the business registered
number 50976615 as Sole Proprietorship in Hong Kong.
Corporate Structure
Subject did not register any subsidiaries or branches,
from other source we can not obtain the relevant information, either.
Owner
|
Chandiramani, Deepak |
|
|
Position: |
Owner |
|
Address: |
Flat A, Blk q, 31/F, Chestwood Court, Kingswood Villas, Tin Shui Wai,
N.T., Hong Kong |
|
ID Number: |
P0661108 |
|
Date of Appointment |
2009-08-01 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street,
Hung Hom, Kowloon, Hong Kong |
Premises Information
We confirmed with relevant staff of subject that subject is located on
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street, Hung Hom,
Kowloon, Hong Kong. However, we cannot get any related registration information
for this address in the official authorities.
Production Information
Subject is a trader of consumer goods. without any production
activities.
Purchase Information
It is introduced that the products of subject are mostly purchased from
Mainland China.
Sales Information
Subject is engaged in sales of consumer goods.
It is introduced that the major products are household appliances,
flashlight, lighting equipment, bread maker and pressure-cooker.
Subject’s sales regions include domestic market, Southeast Asia, America
and Europe, etc.
Subject’s major customers are shops of consumer goods.
Settlements
Purchase
Domestic Purchase
|
Products |
Consumer goods |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Consumer goods |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Consumer goods |
|
Selling Terms |
L/C, T/T |
Financial Information
The subject has no obligation to supply its
financial statement to the third party according to the relevant policy in Hong
Kong and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff rejected to disclose the financial information,
and from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage record of the subject was found.
Lawsuits
Up to now, no present or latent litigation of the subject has been
found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special Note
Interview Details
|
Name |
Mr. Patrick |
|
E-mail: |
Industry Information
81315-- Electric
lamps and lighting fittings, N.E.S. (Kg)
Unit: HKD/000
|
|
2015.01 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Germany |
5,490 |
3,507 |
57,298 |
38,763 |
|
2,998 |
695 |
5,425 |
1,995 |
|
|
England |
4,213 |
7,233 |
54,573 |
15,811 |
|
Italy |
4,418 |
3,067 |
28,338 |
11,217 |
|
Japan |
2,621 |
1,164 |
48,386 |
9,140 |
|
Korea |
11,690 |
860 |
32,955 |
3,306 |
|
Malaysia |
1,749 |
49 |
5,727 |
1,716 |
|
Singapore |
3,159 |
485 |
6,583 |
1,879 |
|
America |
16,475 |
6,695 |
93,216 |
29,965 |
|
The Mainland of
China |
1,867,918 |
220,861 |
9 231 992 |
1,169,389 |
|
Exports |
||||
|
America |
12,725 |
2,407 |
34,973 |
5,466 |
|
Korea |
6 |
20 |
684 |
989 |
|
Germany |
155 |
5 |
397 |
12 |
|
Macao |
1,715 |
169 |
13,390 |
1,745 |
|
Singapore |
54 |
297 |
214 |
843 |
|
Taiwan |
1 |
10 |
494 |
318 |
|
The Mainland of
China |
19 |
20 |
2,792 |
277 |
External
Trade Information:
External
Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year %
change of Total exports |
Merchandise
trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports
figures have been rounded to the nearest final digit after summing up the
constituent trade figures.
Attachment
We confirmed subject located on the supplied address with relevant staff
(Mr. Patrick) of subject, but the building is a residential building. The guard
of the building did not allow us enter in the building, and declined to
disclose any information.
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street, Hung
Hom, Kowloon, Hong Kong
Room 7, 5/F., Lok Wah Building, Whampoa Estate, 37 Tak Man Street, Hung
Hom, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.