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Report No. : |
305294 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
YASHITA EXPORTS |
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Registered Office : |
Room 422, 4/F., |
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Country : |
Hongkong |
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Date of Incorporation : |
28.03.2003 |
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Com. Reg. No.: |
33501825-000-7 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of toys, gift items,
garments, houseware, kitchenware, safety helmet, welding helmet, heavy duty
leather gloves, safety shoes, safety belts. |
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No. of Employees : |
5 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
HONGKONG - 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% of total system
deposits in Hong Kong by the end of 2013. 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 34.9
million in 2012, 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 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% 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% in 2013. 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 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
YASHITA
EXPORTS
ADDRESS: Room 422, 4/F.,
Beverly Commercial Centre, 87-105 Chatham Road, Tsimshatsui,
Kowloon, Hong
Kong.
PHONE: 852-2377 4020
FAX: 852-2377 4034
E-MAIL: yashitaexports@netvigator.com
Manager:
Mr. Tahron Kumar Sharma
Establishment: 28th March, 2003.
Organization: Sole
Proprietorship.
Capital:
Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees:
5.
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head
Office:-
Room 422, 4/F., Beverly Commercial Centre, 87-105
Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
Mailing
Address:-
P.O. Box 95254, Tsimshatsui, Kowloon, Hong
Kong.
33501825-000-7
Manager:
Mr. Tahron
Kumar Sharma
Name:
Mr. Tahron
Kumar SHARMA
Residential Address: Flat 3, 5/F., James Lee Mansion, 33-35 Carnarvon Road,
Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 28th March, 2003 as a sole proprietorship
concern owned by Mr. Tahron Kumar Sharma under the Hong Kong Business
Registration Regulations.
Formerly the subject was located at Flat 3, 5/F., James Lee Mansion,
33-35 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present
address in April 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter
and Wholesaler.
Lines: All
kinds of toys, gift items, garments, houseware, kitchenware, safety helmet, welding q helmet, heavy duty
leather gloves, safety shoes,
safety belts.
Employees: 5.
Commodities Imported: China and acquired from Hong Kong.
Markets: Other Asian
countries, Europe, North America, etc.
Terms/Sales:
L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P,
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:
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing:
Normal.
Yashita Exports is a sole proprietorship set up and owned by Mr. Tahron Kumar
Sharma who has been in Hong Kong for a very long time. He 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 has got the Hong Kong ID before setting up the subject in Hong Kong.
The subject commenced business in March 2003.
The subject is trading in the following products: All kinds of toys,
gift items, garments, footwear, luggage, bags, houseware, kitchenware, safety
helmet, welding helmet, heavy duty leather gloves, safety shoes, safety belts,
hand tools, silicone sealant, buckets, etc.
The subject also trades in other products as entrusted by customers.
Most of the commodities are sourced from China or acquired from the
suppliers in Hong Kong. Prime markets
are Asian countries, Europe and North America, etc.
The subject’s business are chiefly handled by Mr. Tahron Kumar Sharma
himself. History is over eleven years
and ten months.
On the whole, consider the subject good for normal
business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
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|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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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.