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Report No. : |
332607 |
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Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
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Name : |
A PLUS TRADING COMPANY |
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Registered Office : |
Room D, 12/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
30.11.2012 |
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Com. Reg. No.: |
54521674-000-11 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. |
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No. of Employees : |
No Employees in Hong Kong |
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 : |
Moderate |
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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.
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Source
: CIA |
A PLUS
TRADING COMPANY
Registered Office:-
Room D, 12/F., Kimberley Mansion, 15 Austin Avenue,
Tsimshatsui, Kowloon, Hong Kong.
(Formerly located at:
Unit A, 8/F., Hang Wan Building, 42-44 Granville Road,
Tsimshatsui, Kowloon, Hong Kong.)
54521674-000-11
30th November, 2012.
Sole Proprietorship
Name: Ms. Maitri Amishkumar
SHETH
Residential Address: Room
A, 8/F., Hang Wan Building, 42-44 Granville Road, Tsimshatsui, Kowloon, Hong
Kong.
The subject was
established on 30th November, 2012 as a sole proprietorship owned by Ms. Maitri
Amishkumar Sheth under the Hong Kong Business Registration Regulations.
Formerly the
registered address of the subject was located at Room A, 8/F., Hang Wan
Building, 42-44 Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to the
present address in October 2014.
Apart from these,
neither material change nor amendment has been ever traced and noted.
A Plus Trading
Company is a sole proprietorship set up on 30th November, 2012 and owned by Ms.
Maitri Amishkumar Sheth [M A Sheth]. She
is an India businesswoman. She is a Hong
Kong ID Card holder and has got the right to reside in Hong Kong
permanently. She is also manager of the
subject.
Before setting up the
subject, M A Sheth has been in Hong Kong for a very long time and has got her
Hong Kong ID.
The subject’s
registered address is in a private building located at ‘Room D, 12/F.,
Kimberley Mansion, 8/F., 15 Austin Avenue, Tsimshatsui, Kowloon, Hong
Kong. The residential building is not
trespassed by outsiders. The subject has no employees in Hong Kong. The subject moved to this new address in
October 2014. This new office seems to
be the new residential address of M A Sheth.
The subject’s lines
of business are unknown to us as the manager of the subject cannot be reached.
From our indirect
sources, the subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India. Prime markets are
Hong Kong, and the other Asian countries.
Business keeps on improving.
The subject is just a
one-person company. Business is chiefly
handled by M A Sheth herself. History in
Hong Kong is just over two years and seven months.
On the whole, since
the history of the subject is short in Hong Kong, consider it good for normal
business engagements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.99.10 |
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Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.