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Report No. : |
333377 |
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Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
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Name : |
B. K. INTERNATIONAL |
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Registered Office : |
Room 1507, Block 7, 15/F., Multifield Plaza, 3 Prat Avenue, Tsimshastui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
28.09.2009 |
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Com. Reg. No.: |
51209083-000-09 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trader of All kinds of Diamonds. |
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No. of Employees : |
02 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% 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 |
B. K. INTERNATIONAL
ADDRESS: Room 1507, Block 7,
15/F., Multifield Plaza, 3 Prat Avenue, Tsimshastui, Kowloon, Hong Kong.
MANAGEMENT:
Manager: Mr. Chhayaben
Vasharambhai Virani
Establishment: 28th September, 2009.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
B. K. INTERNATIONAL
Head Office:-
Room 1507, Block 7, 15/F., Multifield Plaza, 3 Prat Avenue, Tsimshastui,
Kowloon, Hong Kong.
51209083-000-09
Manager: Mr. Chhayaben
Vasharambhai Virani
Name: Mr. Chhayaben Vasharambhai VIRANI
Residential Address: Room B,
11/F., Hilton Towers, 96 Granville Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 28th September, 2009 as a sole
proprietorship concern owned by Mr. Bharatkumar Haribhai Patel under the Hong
Kong Business Registration Regulations.
However, the old sole proprietor retired on 8th November, 2013 and the
new sole proprietor Mr. Chhayaben Vasharambhai Virani joined on 5th November,
2013.
Formerly the subject was located at Room 2012, 20/F., Block 12, Tower 1,
The Metropolis Residence, 8 Metropolis Drive, Hunghom, Kowloon, Hong Kong,
moved to the present address in January 2013.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond
Trader.
Lines: All
kinds of diamonds.
Employees: 2.
Commodities Imported: India, other
Asian countries.
Markets: Hong
Kong, China, etc.
Terms/Sales: CAD, or as per contracted.
Terms/Buying: As per contracted.
Capital: Not
disclosed.
Profit or Loss: Made
small profits in 2013 & 14.
Condition: Keeping in a normal manner.
Facilities: Adequate for current
running.
Payment: Met trade commitments as required.
Commercial Morality:
Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
B K International a sole proprietorship owned and operated by
Mr. Chhayaben Vasharambhai Virani who is an India merchant. He joined the subject in November, 2013.
He is a Hong Kong ID holder and has got the right to reside in Hong Kong
permanently. He is also manager of the
subject. He has been in Hong Kong
for a very long time as he has got his Hong Kong ID before joining the subject.
We are not sure whether your given Hong Kong mobile phone number 852‑6044
4084 belongs to Mr. Chhayaben Vasharambhai Virani or not as this phone number
is just a voice mail box. Nobody made a
return call to us.
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 and the other Asian countries. Prime markets are Hong Kong, China, India and
the other Asian countries. Business is
normal.
The business of the subject is chiefly handled by Mr. Chhayaben
Vasharambhai Virani himself. History in
Hong Kong is over five years and ten months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.00 |
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1 |
Rs.99.83 |
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Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TPT |
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.