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Report No. : |
356388 |
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Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
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Name : |
IDEAL IMPEX (HK) LTD. |
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Registered Office : |
Room 806, 8/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.12.2011 |
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Com. Reg. No.: |
59284213 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of diamonds. |
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No. of Employee : |
2. |
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 |
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Insignificant |
A1 |
|
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 |
IDEAL IMPEX (HK) LTD.
ADDRESS: Room 806, 8/F., Multifield
Plaza, 3-7A Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852- 3460 2603
FAX: 852- 2360 2605
E-MAIL: idealimpexhk@gmail.com
MANAGEMENT:
Managing Director: Mr. Vicky
Pravinchandra Desai
Incorporated on: 22nd December,
2011.
Organization: Private Limited
Company.
Issued Share Capital: HK$2,500,000.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 806, 8/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
59284213
1693094
Managing Director: Mr. Vicky
Pravinchandra Desai
HK$2,500,000.00
(As per registry dated 22-12-2014)
|
Name |
|
No. of shares |
|
Ajaykumar Jivrajbhai DAKHRA |
|
1,000,000 |
|
Vicky Pravinchandra DESAI |
|
1,500,000 |
|
|
|
––––––––– |
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Total: |
2,500,000 ======= |
(As per registry dated 22-12-2014)
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Name (Nationality) |
Address |
|
Vicky Pravinchandra DESAI |
Flat B4, 9/F., Prat Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon,
Hong Kong. |
(As per registry dated 22-12-2014)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
The subject was incorporated on 22nd December, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room B4, 9/F., Prat Mansion, 26-36
Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in
December 2012.
A new shareholder Vicky Pravinchandra Desai joined on 19th December,
2014.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter
and Wholesaler.
Lines: All kinds of
diamonds
Employees: 2.
Commodities Imported: India, other
Asian countries
Markets: Hong Kong, China,
other Asian countries
Terms/Sales: CAD, L/C, T/T
Terms/Buying: L/C, Advanced T/T
Issued Share Capital: HK$2,500,000.00
Profit or Loss: Made small profits
in 2013 & 2014.
Condition: Business is
normal.
Facilities: Making active use
of general banking facilities.
Payment: Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Formerly had issued 1 million ordinary
shares of HK$1.00 each, Ideal Impex (HK) Ltd. was wholly owned by Mr. Ajaykumar
Jivrajbhai Dakhra. Now, the subject has
issued 2.5 million ordinary shares of HK$1.00 each in total, 40% are owned by
Ajaykumar Jivrajbhai Dakhra while 60% are owned by Vicky Pravinchandra
Desai. Both are India merchants. The latter joined on 19th December,
2014.
The latter 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.
The subject commenced business in December
2011.
Formerly the subject did not have its own
operating office. Its registered address
was in a private building located at Room B4, 9/F., Prat Mansion, 26‑36
Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.
It moved to the present address in December 2012.
The subject is a diamond importer, exporter
and wholesaler. It is trading in loose,
polished and cut diamonds. It is
specialized in full cut diamonds, -2, ‑6.5, +6.5, +11 to 0.3 pts below.
Most of the commodities are imported from
Surat, India. Prime markets are Hong
Kong, China, India, the other Asian countries, Europe, etc. Business is normal.
According to the subject, it is able to
offer customers with quality products.
Prices are competitive and the delivery is prompt. It has had its own manufacturing units.
The subject has got an associated company in
Surat, India which is also a diamond trader.
Its phone numbers are 91-22-4003 6888 and
91-22-4003 5888.
In order to penetrate the international
market further, the subject has taken part in fairs and exhibitions held in
Hong Kong and other foreign large cities.
For instance, it is going to take part in
“HKTDC Hong Kong International Jewellery Show 2016” which will be held in Hong
Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of
3rd to 7th March, 2016.
Besides, it is going to take part in “HKTDC
Hong Kong International Diamond, Gem & Pearl Show 2016” which will be held
in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 2nd to 6th
March, 2016. Its booth No. is AWE 5-B38.
It is also going to take part in Europe
Jewellery & Gem Fair.
The history of the subject in Hong Kong is
just over four years.
On the whole, consider it good for normal
business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.55 |
|
Euro |
1 |
Rs.72.60 |
|
HKD |
1 |
Rs.8.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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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 |
|
<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.