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Report No. : |
330981 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
BHUMI IMPEX |
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Registered Office : |
Flat 5, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
07.06.2013 |
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Com. Reg. No.: |
54696651-000-06 |
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Legal Form : |
Sole Proprietorship. |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Very Small Company |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China
signed a new agreement on achieving basic liberalization of trade in services
in Guangdong Province under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from March 2015, cover a negative list and a most-favored
treatment provision, and will improve access to the mainland's service sector
for Hong Kong-based companies.
|
Source
: CIA |
BHUMI
IMPEX
ADDRESS: Flat
5, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available.
Manager: Ms. Sulochana Runiwal
Establishment: 7th June, 2013.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat 5, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui,
Kowloon, Hong Kong.
54696651-000-06
Manager: Ms. Sulochana Runiwal
Name: Ms. Sulochana RUNIWAL
Residential Address: Flat
5, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
The subject was
established on 7th June, 2013 as a sole proprietorship concern
owned by Ms. Sulochana Runiwal 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: All kinds of diamonds, etc.
Employees: Nil.
Commodities Imported: India, Europe, etc.
Markets: Hong Kong, China, India, other Asian
countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying L/C, T/T, D/P, etc.
Capital: Not
disclosed.
Profit or Loss: Made a very small profit in 2014.
Condition: Business is improving.
Facilities: Trying
to make use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality:
Satisfactory
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Bhumi Impex is a sole proprietorship set
up and owned by Ms. Sulochana Runiwal who is an India businesswoman. She is a Hong Kong ID holder and has got the right
to reside in Hong Kong permanently. She
is also manager of the subject.
Runiwal has been in Hong Kong for a very
long time before setting up the subject.
The registered address of the subject is
located at “Flat 5, 16/F., Star Mansion, 3-5 Minden Row, Tsimshatsui,
Kowloon, Hong Kong” where is also the Hong Kong residence of Runiwal. This is also the operating address of the
subject.
The residential building is not trespassed
by outsiders. The subject has no
employees in Hong Kong.
We are not sure whether your given phone
number 852-2369 9454 belongs to the subject or not. We had telephoned to the subject for many
times but nobody answered our calls.
The subject is a diamond importer,
exporter and wholesaler. It is trading
in all kinds of loose, polished and cut diamonds. Most of the commodities are imported from
India. Prime markets are Hong Kong,
China and the other Asian countries.
Business is improving.
The subject is just a one-person
company. Business is chiefly handled by
Runiwal herself. History in Hong Kong is
just over two years.
Since the registered office of the subject
is in a residential building, history is short, on the whole, consider it good
for normal business engagements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
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.