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Report No. : |
303793 |
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Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MARUDHAR (HK) INTERNATIONAL |
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Registered Office : |
Room 17, 7/F., Block B, Focal Industrial Building, 21 Man Lok Street, Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.03.2007 |
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Com. Reg. No.: |
37688932-000-03 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds, Gemstones,
Semi-Precious Stones. |
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No. of Employee : |
6 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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.
|
Source
: CIA |
(Formerly located at:
Room 362-363, 3/F.,
Conic Investment Building,
13 Hok Yuen Street,
Hunghom, Kowloon, Hong Kong.)
MARUDHAR (HK) INTERNATIONAL
ADDRESS: Room 17, 7/F., Block B, Focal Industrial
Building, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2189 7211
FAX: 852-2189 7231
E-MAIL: marudharhk@biznetvigator.com
Manager: Mr. Vimal Chand Binakiya
Establishment: 7th March, 2007.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
MARUDHAR (HK)
INTERNATIONAL
Head Office:-
Room 17, 7/F., Block B, Focal Industrial Building, 21 Man Lok Street,
Hunghom, Kowloon, Hong Kong.
Associated
Companies:-
Marudhar Corporation, India.
Marudhar International Co. Ltd., Thailand.
37688932-000-03
Manager: Mr. Vimal Chand Binakiya
Contact Person: Mrs Mandy
Name: Mr. Vimal Chand BINAKIYA
Residential Address: D-3 Raman
Marg Tilak, Nagar Jaipur, India.
The subject was established on 7th March, 2007 as a sole proprietorship
concern owned by Mr. Vimal Chand Binakiya under the Hong Kong Business
Registration Regulations.
Formerly the subject was located at Room 362-363, 3/F., Conic Investment
Building, 13 Hok Yuen Street, Hunghom, Kowloon, Hong Kong, moved to the present
address in December 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of
diamonds, gemstones, semi-precious stones.
Brand Name: “Marudhar”.
Employees: 6.
Commodities Imported: India, other
Asian countries, Europe.
Markets: Asian countries,
Europe, North America, Middle East.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, pre-payment.
Capital: Not disclosed.
Profit or Loss: Making a small
profit every year.
Condition: Keeping in a
satisfactory condition.
Facilities: Making rather active
use of general banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Marudhar (HK) International is a sole proprietorship set up and owned by
Mr. Vimal Chand Binakiya who is an India merchant.
He is a Hong Kong ID Card holder and has got the right to reside in
Hong Kong permanently. He is also
manager of the subject.
The subject is trading in the following products: ruby series, sapphire
series, loose diamond series, ruby stones, blue sapphire stones, gemstones,
coloured gemstones, loose diamonds, bead necklace.
The subject has its Head Office in Jaipur (India) and other branch
offices in Mumbai (India) and Bangkok (Thailand). It has got a wide range of sizes, cuts,
shapes and colours in Sapphire, Emerald, Ruby, Tsavorite, Tanzanite, Garnet,
Amethyst, Citrine, Tourmaline, etc. It
also supplies diamonds in small sizes.
Most of the products bear the brand name of “Marudhar”. Most of the products are imported from India,
Sir Lanka, the other Asian countries, the United States, etc. Prime markets are Hong Kong, China, the other
Asian countries, Europe, the Middle East, North America.
In order to penetrate the international market further, the subject 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 2015”
which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the
period of 2nd to 6th March, 2015. Its
booth No. is AWE 10-G22.
It also has taken part in jewellery shows held in Dubai, the United Arab
Emirates. For instance, it is going to
take part in “Dubai International Jewellery Week 2015” which will be held in
Dubai during the period of 9th to 12th December, 2015.
The subject’s business is chiefly handled by Mr. Vimal Chand Binakiya
himself. History in Hong Kong is over
seven years and ten months.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.