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Report No. : |
355884 |
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Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
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Name : |
PLUS ONE (HK) CO. LTD. |
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Registered Office : |
Room 902, 9/F., Chevalier House, 45-51 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.07.2011 |
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Com. Reg. No.: |
58745397 |
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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 : |
4 |
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 |
PLUS ONE (HK) CO.
LTD.
ADDRESS: Room 902, 9/F., Chevalier
House, 45-51 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2722
6110 (not 2722 6011)
FAX: 852-2722 6031
E-MAIL: info@plusonecoltd.com
MANAGEMENT:
Managing Director: Mr. Rakesh
Indramal Sanghavi
Incorporated on: 22nd July, 2011.
Organization: Private Limited
Company.
Issued Share Capital: HK$1.00
Business Category: Importer, Exporter
and Wholesaler.
Employees: 4.
Main Dealing Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 902, 9/F., Chevalier House, 45-51 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Company:-
Plus One Co. Ltd., Japan.
58745397
1639524
Managing Director: Mr. Rakesh
Indramal Sanghavi
Contact Person: Mr. Sunny
(Hong Kong Mobile Phone No.: 852-9644 2173)
HK$1.00
(As per registry dated 22-07-2015)
|
Name |
|
No. of share |
|
Katsumi Kannari 2-9-4 Higashi Nipporl, Arakawa-Ku, Tokyo, Japan. |
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1 = |
(As per registry dated 22-07-2015)
|
Name (Nationality) |
Address |
|
Rakesh Indramal SANGHAVI |
Flat C, 13/F., Golden Mansion, 83-85 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
(As per registry dated 22-07-2015)
|
Name |
Address |
Co. No. |
|
Asia Secretarial Services Ltd. |
Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong. |
1401131 |
The subject was incorporated on 22nd July, 2011
as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at ‘Suite
E, 15/F., Cameron Plaza,
23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong’, moved to the present
address in May 2015.
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: 4.
Commodities Imported: India, Europe, US
Markets: Hong Kong, Japan,
other Asian countries
Terms/Sales: CAD or as per
contract.
Terms/Buying: Various terms.
Issued Share Capital: HK$1.00
Profit or Loss: Made a small profit
in 2013 & 2014.
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.
Having issued just one ordinary share of
HK$1.00, Plus One (HK) Co. Ltd. is owned by Mr. Katsumi Kannari who is a Japan
merchant.
The director of the subject Mr. Rakesh
Indramal Sanghavi is a Hong Kong ID holder.
He can be reached at his Hong Kong mobile phone number
852-6305 5637.
The subject is a diamond trader. It is trading in carat size and loose
diamonds. The followings are some of its
products:-
Marquise-Cut Diamond;
Round Diamond;
Princess-Cut Diamond; &
GIA Certified Diamond.
The subject has got an associated company in
Japan known as Plus One Co. Ltd. [POCL].
POCL and the subject are engaged in the same lines of business.
Established in 1990, POCL is known for
polished diamonds with a variety range of cuts and sizes. It is specialized in polished round diamonds
which include an extensive range of certified diamonds mainly CGL, GIA and
parcel stones sized from star & melee up to 3 carats mostly with D to M
colour and IF, VVS, VS, SI, I clarity.
In order to penetrate the international
market further, POCL 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 Diamond,
Gem & Pearl Show 2016” which will be held in Hong Kong AsiaWorld-Expo,
Lantau, Hong Kong during the period of 1st to 5th March, 2016. Its booth No. is AWE 7-F16.
Besides, the subject 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.
The subject’s products are marketed in Hong
Kong, China and exported to Japan, the other Asian countries. Business is normal.
As the history of the subject is over four
years and five months in Hong Kong, on the whole, consider it good for
normal credit requirements.
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.8.56 |
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
|
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 |
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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 |
|
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.