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Report No. : |
323654 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ELEKTRA (HK) LTD. |
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Registered Office : |
c/o Lodestar Secretaries Ltd. 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.08.2013 |
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Com. Reg. No.: |
61959399 |
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Legal Form : |
Private Limited Company |
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Line Of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy protests
that began in late September probably will have some adverse effects on
economic growth, particularly retail sales.
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Source
: CIA |
ELEKTRA (HK)
LTD.
ADDRESS: c/o Lodestar Secretaries Ltd.
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.
PHONE: 852-91494071
FAX: Not disclosed.
E-MAIL: elektrahk@gmail.com
Managing Director: Mr. Nileshkumar Ghanshyambhai Sonani
Incorporated on: 29th August, 2013.
Organization: Private Limited Company.
Issued Share Capital: HK$500,000.00
Business Category: Diamond Trader.
Employee: 1.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Lodestar Secretaries Ltd.
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.
61959399
1959517
Managing Director: Mr. Nileshkumar Ghanshyambhai Sonani
ISSUED SHARE
CAPITAL: HK$500,000.00
SHAREHOLDER: (As per registry dated 29-08-2014)
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Name |
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No. of shares |
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Nileshkumar Ghanshyambhai SONANI |
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500,000 ====== |
DIRECTOR: (As per registry dated 29-08-2014)
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Name (Nationality) |
Address |
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Nileshkumar Ghanshyambhai SONANI |
51 Rachana Soc, Kapodara Varachha Road, Surat, Gujarat 395006, India. |
SECRETARY: (As per registry dated 29-08-2014)
|
Name |
Address |
Co. No. |
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Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong. |
0113023 |
The subject was incorporated on 29th August, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds.
Employee: 1.
Commodities Imported: India, etc.
Markets: Hong Kong, other Asian countries, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
Issued Share Capital: HK$500,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is still under development.
Facilities: Making fairly active use of general banking facilities.
Payment: UNKNOWN.
Commercial Morality: Satisfactory
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Elektra (HK) Ltd. was incorporated in August 2013 as a private limited liability company.
Having issued 500,000 ordinary shares of HK$1.00 each, the subject is wholly owned by Nileshkumar Ghanshyambhai Sonani who is an India merchant. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong known as Lodestar Secretaries Ltd. which is handling its correspondences and documents. This company is also the corporate secretary of the subject.
The subject is a diamond
trader. It has a representative in Hong
Kong who can be reached at your given Hong Kong mobile phone number
852-9149 4071. The representative is
also an Indian. He reported to us that
the subject belongs to one of his friends in India. He is handling documents of the subject.
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, China, the other Asian countries, North America, etc. Business is still under development.
It has been banking with The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The subject’s business in Hong Kong is not very active. History, which is short in Hong Kong, is just over a year and three months.
On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
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|
1 |
Rs.97.80 |
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Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
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.