|
Report No. : |
306653 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
LANDMARK EXIM (H.K.) CO. |
|
|
|
|
Registered Office : |
Room 836-837, 8/F., Beverley Commercial Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.03.1987 |
|
|
|
|
Com. Reg. No.: |
10853073-000-03 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER
AND RE-EXPORTER OF JACKETS, UNDERWEAR, FOOTWEAR, BAGS, UMBRELLAS, GAMES AND
TOYS, COMPUTERS AND ACCESSORIES, CHEMICALS. |
|
|
|
|
No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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% 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 |
(Formerly located at:
Room 1001, 10/F., Hillwood Centre,
17-19 Hillwood Road, Tsimshatsui,
Kowloon, Hong Kong. )
LANDMARK EXIM
(H.K.) CO.
ADDRESS: Room 836-837, 8/F., Beverley
Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2314 0448, 2314 1501
FAX: 852-2314 7879
E-MAIL: ram@lmechina.com
lmehkco@netvigator.com
Manager: Mr. Sitaram Agarwal
Establishment: 11th March, 1987.
Organization: Sole
Proprietorship.
Capital: Not disclosed.
Business Category: Importer
and Re-exporter.
Annual Turnover: HK$45~50
million.
Employees: 9.
Main Dealing Banker: The Hong
Kong and Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
LANDMARK EXIM
(H.K.) CO.
Head Office:-
Room 836-837, 8/F., Beverley Commercial Centre, 87-105 Chatham Road,
Tsimshatsui, Kowloon, Hong Kong.
Mailing Address:
P.O. Box 90184, Tsimshatsui Post Office, Kowloon, Hong Kong.
Branch Office:-
Flat F, 5/F., Perth Garden, Ilford Court, 5-7 Perth Street, Homantin,
Kowloon, Hong Kong.
China Offices:-
World Trade Link Enterprises, China.
LEM China Industrial Co., China.
Parent Company:-
Ramadon International Pte. Ltd., Singapore.
Associated/Affiliated
Companies:-
RIL Group of Companies
360° Advertising, Marketing & Promotion Services Pvt. Ltd., Sri
Lanka.
Galore Marketing Pvt. Ltd., India.
Gulshan Grace 8, Bangladesh.
LME China Industrial Company, China.
RPI Inc. (USA), USA.
Vivo Galactica Buba, Belgium.
World Trade Link Enterprises, China.
10853073-000-03
Manager: Mr. Sitaram Agarwal
Contact Person: Mr. Ram
Name: Mr. Sitaram AGARWAL
Residential Address: Flat 2,
15/F., Wai Wah Building, 66-76 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 11th March, 1987 as a sole proprietorship
company under the Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Girijesh Kumar Agarwal |
11-03-1987 |
31-10-1991 |
|
Sitaram Agarwal |
01-04-1989 |
--- |
|
Gopal Krishna Agarwal |
01-11-1991 |
01-04-1994 |
Initially the subject was located at 11/F., Belgian House, 77-79 Gloucester
Road, Hong Kong, moved to Flat B, 7/F., Wah Fung Mansion, 17-23 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong in March 1989; to No. 6, 5/F., Creative
Mansion, 6-8 Chatham Court, Kowloon, Hong Kong in September 1990; to Room 1203,
12/F., Winning Commercial Building, 46-48 Hillwood Road, Tsimshatsui, Kowloon,
Hong Kong in December 1991; to Room 903, 9/F., Hillwood Centre, 17-19 Hillwood
Road, Tsimshatsui, Kowloon, Hong Kong in September 1993; to Room 1001,
10/F. of the same building in September 1997; and further moved to the present
address in June 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and
Re-exporter.
Lines: Jackets,
underwear, footwear, bags, umbrellas, games and toys, computers and
accessories, chemicals.
Employees: 9.
Commodities Imported: China,
other Asian countries.
Markets: Europe, North
America, Asian countries.
Annual Turnover: HK$45~50
million.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T and D/P.
Capital: Not disclosed.
Profit & Loss: Traded at a
small profitable angle.
Condition: Keeping in an active
and satisfactory manner.
Facilities: Actively using
general banking facilities.
Payment: Met obligations as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong and Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Landmark Exim (H.K.) Co. is a sole proprietorship concern controlled by
Mr. Sitaram Agarwal and his family members. The abbreviation of the subject is LME. The subject commenced business in March 1987.
The subject is a buying agent. It
provides customers with warehousing facilities and is engaged in shipping and
arranging documents for customers.
Currently, the subject is trading in the following
commodities:Accessories, Audio Products, Automobile, Bags, Bathroom Fittings,
Belt – Timing, Blanket, Chemicals, Cleaning Products, Cosmetics, Electrical
Parts, Flags, Flask, Furniture, Furniture Hardware fittings, Garments,
Glassware (Basic-Crockery), Hardware, Home Appliances, Kitchen Ware, Lighters,
Metal, Optical, Paper, Paraffin Wax, Photo Frame, Playing Cards, Room
Freshener, Stationery, Suitcases, Sundry items, Table Ware, Textiles, Toiletries,
Umbrella, Video Products, etc.
Most of the commodities are sourced from China. Currently, it has set up an office in Yiwu
City and another in Ningbo City, Zhejiang Province, China. The subject has been dealing with
manufacturers in China for over nineteen years.
It also sources commodities from Malaysia, Thailand, etc. apart from
China.
The subject’s associated firms in Ningbo is known as LME China
Industrial Company while the one in Yiwu is known as World Trade Link
Enterprises.
Commodities are exported to Eastern and Western Europe, some of the
Asian countries, North America, etc.
Business has been satisfactory.
The subject in fact is a member of the RIL Group which is headquartered
in Singapore. Besides the subject, the
Group also includes companies in the United States, Europe, China, India, Sri
Lanka and Bangladesh.
The Group is specialised in international trading, plastic recycling,
real estate development, retailing, digital printing and advertising.
The holding company of the Group is Ramadon International Pte. Ltd.
which is a Singapore-based firm.
The Group is also a major export house and buying agent of several
prominent companies around the world for their procurement, inspection and
shipping of products from various places around the globe. It also offers clients with warehousing
facilities, materials sorting service, shipping and documentation service.
The subject also helps its clients market and distribute their
products. Its US office is known as RPI
Inc. This firm is in Houston, Texas.
The subject’s business is chiefly handled by Mr. Sitaram Agarwal who is
an Indian.
On the whole, having a history of about twenty-eight years in
Hong Kong, the subject is considered good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.