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Report No. : |
305813 |
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Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
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Name : |
INTEXPORT |
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Registered Office : |
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.12.1987 |
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Com. Reg. No.: |
10548309-003-05 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Importer, Exporter and Wholesaler of Stainless Steel, Raw materials, Metal, and Finished Products |
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No. of Employee : |
10. (Including Sole Owner) |
RATING & COMMENTS
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MIRAs 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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Hong Kong |
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 |
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% 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.
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Source
: CIA |
INTEXPORT
(Operated by UNISILK LTD.)
ADDRESS: Room 1635, 16/F., Star House,
3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2735 7758, 2735
7759
FAX: 852-2730 0946
E-MAIL: enquiry@intexportsteel.com
MANAGEMENT:
Manager: Mr. Madhur Dugar
Establishment: 12th
December, 1987.
Organization: Sole Ownership.
Capital: Provided by Sole Owner.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 10. (Including Sole Owner)
Main Dealing Banker: Indian
Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Head Office:-
Room 1635, 16/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon,
Hong Kong.
Mailing Address:-
P.O. Box 98191, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.
Sister Companies:- (Same BR No.)
Texchemie, Hong Kong.
[BR No. 10548309-001]
Nippon Unitech Industrial Co., Hong
Kong. (Business Ceased)
[BR No. 10548309-002]
Concentra, Hong Kong. (Business Ceased)
[BR No. 10548309-004]
Alwynco, Hong Kong. (Business Ceased)
[BR No. 10548309-005]
Far East Test and Measurement Systems Co.,
Hong Kong.
(Business Ceased)
[BR No. 10548309-006]
Amersonic International, Hong Kong.
[BR No. 10548309-007]
Lightex, Hong Kong. (Business Ceased)
[BR No. 10548309-008]
Alpine Silk, Hong Kong. (Business Ceased)
[BR No. 10548309-009]
Success Engineering, Hong Kong.
[BR No. 10548309-010]
Hong Kong Yaten, Hong Kong. (Business Ceased)
[BR No. 10548309-011]
Shanghai Shibang Machinery Co., Hong
Kong. (Business Ceased)
[BR No. 10548309-012]
Great China Alliance, Hong Kong.
[BR No. 10548309-013]
Sabko International, Hong Kong.
[BR No. 10548309-014]
Polychemin, Hong Kong. (Business Ceased)
[BR No. 10548309-015]
Associated
Companies:-
Amersonic International Ltd., Hong
Kong. (Same address)
Ginda Industries Ltd., Hong Kong. [Dissolved]
King Mega International Ltd., Hong Kong.
10548309-003-05
Manager: Mr. Madhur Dugar
Contact Person: Mr. Ritesh Dugar
Unisilk Ltd., Hong Kong. (See
attachment)
The subject was established on 12th December, 1987 as a sole ownership
firm with Unisilk Ltd. as the proprietor under the Hong Kong Business
Registration Regulations.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Stainless
Steel, Raw materials, Metal, and Finished Products,
Employees: 10. (Including Sole Owner)
Commodities Imported: China, India,
Russia,
Markets: Asia,
Europe,
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Capital Provider: Provided by
Sole Owner.
Profit or Loss: Sole owner makes
a profit every year.
Condition: Keeping in an active
manner.
Facilities: Making active use of
general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Bankers:-
Indian Overseas Bank, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very Good.
Intexport is one of the wholly-owned subsidiaries of Unisilk Ltd.
[Unisilk] which is a Hong Kong-registered firm.
The subject commenced business in December 1987.
The subject and Unisilk share the same operating office. It has been a steel and metal trader since
1986.
With more than two decades of experience, Intexport is now one of the
trustworthy suppliers for various different grades of stainless steel and metal
in Asia. Besides Hong Kong, its offices
are in Foshan and Shenzhen Special Economic Zone of China, New Delhi of India,
Hochiminh City of Vietnam, and Yangon of Myanmar.
The subject also operates its own factories and it also has strong links
with some of the largest producers and therefore it is able to provide
cost-efficient supplies of various types of metal ranging from different grades
in stainless steel and carbon steel.
These include coils, sheets, pipes, strips and circles, metal products
and utensils, etc. Concerning stainless
steel products, the subject trades in cold rolled and hot rolled for grades
201, 202, 400 series and 304.
The subject is
trading in the following commodities:-
Supplies all grades including 201 series, 300 series, 400 series;
Supplies width from 30 mm -1500 mm depending on the grade needed by
customers;
Supplies SS like Hinges, Sinks, cutlery, flexible SS pipes, round bars
Supplies all finishes like No.1 finish, 2B, BA, 6K, 8k, No.4, HL and PVD
coloured stainless steel;
Supplies PCM/PPGI used for appliances manufacturing in cut to size
sheets with width above 600 mm and coils;
Supplies carbon steel Cold rolled coils with width above 600 mm.; &
Supplies thickness from 0.16 mm - 6 mm in Coils in 2B finish, Thickness
0.18 mm - 1.5 mm in circles, and 2.5 mm - 30 mm in HR coils and plates.
According to the subject, it exports about 3,000 to 4,000 MT of
stainless steel every month. Main
markets are India, Bangladesh, Pakistan, Turkey, Ukraine, Egypt, Vietnam, South
Korea, Syria,
It has developed good business relationship with most of the large mills
in Asia.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in China.
Incorporated on 9th May, 1986, Unisilk is experienced in sourcing a wide
range of products catering many different industries. It is trading in many different kinds of
products such as electronics, electric appliances, electrical products, marble,
building materials, grinding machinery, stationery, skin care products, silk
and silk fabrics, chemicals
Unisilk is an International Sourcing company dealing in a wide range of
products with offices in Hong Kong, Shenzhen SEZ, Yiwu, India, Bangkok and even
Vietnam.
Unisilk has set up a number of subsidiaries in order to trade different
products while the subject is one of them.
Owned by the Dugar family, Unisilk has been increasing its scope of
business.
The directors of Unisilk are Mr. Sajjan Dugar and Mr. Madhur Dugar. Both of whom are Hong Kong ID Card holders and
have got the right to reside in Hong Kong permanently.
The annual sales turnover of Unisilk is significant. Business is profitable.
The subject is fully supported by Unisilk. Its history in Hong Kong is over twenty-seven
years and a month.
The history of Unisilk in Hong Kong is over twenty-eight years and eight
months.
On the whole, in view of the parentage and lines of business of the
subject, consider it good for normal business engagements.
UNISILK LTD.
ADDRESS: Room 1635, 16/F., Star
House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.
10548309
0169007
9th May, 1986.
HK$39,400,000.00
(As per registry dated 29-05-2014)
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Name |
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No. of shares |
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Madhur DUGAR |
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122,442 |
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Sajjan DUGAR |
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271,558 |
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Total: |
394,000 ====== |
(As per registry dated 09-05-2014)
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Name (Nationality) |
Address |
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Madhur DUGAR |
A3-4, 9/F., Hong Yuen Court, 1-5 Tak Shing Street, Kowloon, Hong Kong. |
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Sajjan DUGAR |
A3-4, 9/F., Hong Yuen Court, 1-5 Tak Shing Street, Kowloon, Hong Kong. |
(As per registry dated 29-05-2014)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
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|
1 |
Rs.93.53 |
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Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
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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
SCs 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.