|
Report No. : |
303489 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
H.K. INTERNATIONAL CO. |
|
|
|
|
Registered Office : |
Flat E, 21/F., Tower 10, Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
01.12.2007 |
|
|
|
|
Com. Reg. No.: |
38728741-000-12 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All kinds of diamonds and jewellery products, emerald, precious stones |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Business |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
H.K. INTERNATIONAL
CO.
ADDRESS: Flat E, 21/F., Tower 10, Laguna Verde, 8 Laguna
Verde Avenue, Hunghom, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
E-MAIL: pshahinternational@yahoo.com
Manager:
Mr. Prakash Keshavlal Shah
Establishment: 1st
December, 2007.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Diamond Trader.
Employees:
Nil.
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
H.K. INTERNATIONAL
CO.
Head Office:-
Flat E, 21/F., Tower 10, Laguna Verde, 8
Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.
38728741-000-12
Manager:
Mr. Prakash Keshavlal Shah
Name:
Prakash Keshavlal SHAH
Residential Address: 102/D7 Sector 7, Shanti Nagag, Mira Road (E), Thane‑401107,
India.
The subject was established on 1st December, 2007 as a sole proprietorship
concern owned by Mr. Nilesh Mahendra Shah under the Hong Kong Business
Registration Regulations. However,
Prakash Keshavlal Shah joined in as a partner on 1st June, 2010 while N. M.
Shah retired on 1st August, 2010. Now,
P. K. Shah is the sole proprietor of the subject.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: Nil.
Commodities Imported: India, Belgium, other European countries, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
Capital: Not
disclosed.
Profit or Loss: Made very small profits in past years.
Condition: Business
is fairly active
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met
trade commitments as required.
Commercial Morality: Satisfactory.
Banker:
Hang
Seng Bank Ltd., Hong Kong.
Standing:
Small.
H.K. International Co. is a sole proprietorship owned by Mr. Prakash
Keshavlal Shah who is an India merchant.
He joined in the subject on 1st June, 2010. P. K. Shah is an India passport holder
and does not have the right to reside in Hong Kong permanently.
Formerly the subject was set up and owned by Mr. Nilesh Mahendra Shah on
1st December, 2007. N. M. Shah and P. K.
Shah belong to the same family.
The subject’s registered address is located at Flat E, 21/F., Tower 10,
Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong. This office is not in a commercial building but
a residential building. It is likely
that P. K. Shah is residing in this office when he is in Hong Kong. The subject’s registered address is also the
residential address of P. K. Shah.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories.
We are not sure your given phone number 852-3161 7911 whether belongs to
the subject or not as nobody answered our calls when we telephoned to it. According to your information, this phone
number is the same as another company Super Collection which is located at a
different address.
The subject has no employees in Hong Kong.
The subject is a loose diamond importer, exporter and wholesaler. It is trading in the single-cut diamond, fullcut
loose diamond, carat size diamonds, blue sapphire, etc. Most of the products are imported from
India. Prime markets are Hong Kong,
Japan and the other Asian countries.
Business has been improving. It
made small profits in past four years.
Business handled by P. K. Shah, himself, the subject is just a one-man
company. History in Hong Kong is over
seven years and a months.
On the whole, since the registered office of the subject is in a
residential building, consider it good for normal business engagements on L/C
basis or in very small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.32 |
|
Euro |
1 |
Rs.71.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.