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Report No. : |
324965 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
S. R. EXPORTS (H.K.) LTD. |
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Registered Office : |
Flat H1, 9/F., Winner Building, 36 Man Yue Street, Hunghom, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
05.10.2006 |
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Com. Reg. No.: |
37237200 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF LOOSE AND FANCY COLOUR DIAMONDS. |
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No. of Employees : |
4 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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% 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.
|
Source
: CIA |
S. R.
EXPORTS (H.K.) LTD.
ADDRESS: Flat
H1, 9/F., Winner Building, 36 Man Yue Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2736
2247, 2356 2247
FAX: 852-2736
2246
E-MAIL: srexports@biznetvigator.com
Managing Director:
Mr. Pravinchandra Hiralal
Shah
Incorporated on: 5th October, 2006.
Organization: Private Limited Company.
Capital: Nominal:
HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Flat H1, 9/F., Winner Building, 36 Man Yue Street,
Hunghom, Kowloon, Hong Kong.
Holding Company:-
Apex Gems Inc., USA.
Affiliated/Associated
Companies:-
Apex Jewelry Inc., US.
Global Co., Hong Kong.
(Business ceased)
S. Rasiklal & Co., India.
37237200
1078772
Managing Director: Mr.
Pravinchandra Hiralal Shah
Contact Person: Mr. Steve
Nominal Share Capital: HK$10,000.00 (Divided into 10,000
shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry
dated 05-10-2012)
|
Name |
|
No. of shares |
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Apex Gems Inc. 576, 5th Avenue, Suite #1000, New York, NY 10036, USA. |
|
10,000 ===== |
(As per registry
dated 05-10-2012)
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Name (Nationality) |
Address |
|
Pravinchandra Hiralal SHAH |
576, 5th Avenue, Suite #1000, New York, NY 10036, USA. |
(As per registry
dated 05-10-2012)
|
Name |
Address |
Co. No. |
|
Excel Management Consultants Ltd. |
Room 1206, 12/F., Harbour Csytal Centre, 100 Granville
Road, Tsimshatsui East, Kowloon, Hong Kong. |
1340064 |
The subject was
incorporated on 5th October, 2006 as a private limited liability company under the
Hong Kong Companies Ordinance.
Formerly the
registered address of the subject was located at Flat J, 22/F., Tower 2, Royal
Peninsula, 8 Hung Lai Road, Hunghom, Kowloon, Hong Kong, moved to the
present address in late 2012.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of loose and fancy colour diamonds.
Employees: 4.
Commodities Imported: India,
Belgium, US, other Asian countries, etc.
Markets: Asian
countries, Europe, US, etc.
Terms/Sales: L/C,
T/T, D/P, etc.
Terms/Buying: L/C,
advanced T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making
small profits in the past four years.
Condition: Business
is normal.
Facilities: Making
active use of general banking facilities.
Payment: Met obligations as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000
ordinary shares of HK$1.00 each, S. R. Exports (H.K.) Ltd. is a wholly owned
subsidiary of Apex Gems Inc. [Apex Gems] which is a US-based firm.
The subject’s only
director Mr. Pravinchandra Hiralal Shah is an Indian who is a US passport
holder. Most of the time, he is residing
in New York, the United States.
Shah’s Hong Kong
residential address is located at Flat J, 22/F., Tower 2, Royal Peninsula, 8
Hung Lai Road, Hunghom, Kowloon, Hong Kong.
The subject is a
loose diamond importer, exporter and wholesaler. Its loose diamonds are in different colours
and carat sizes which are significant in the line of business.
Formerly the subject
had an associated company Global Co. which was also owned by Pravinchandra
Hiralal Shah. The registered address of
Global Co. was located at a different address.
However, this firm has ceased business since 30th September, 2009.
The subject’s loose,
polished and cut diamonds are imported from India, Belgium and the other
European countries, etc. Polished or cut
diamonds are marketed in Hong Kong, exported or re-exported to Japan, the other
Asian countries, Europe, the United States, etc. The United States is the subject’s prime
market since its holding company Apex Gems is in New York of the United States.
Apex Gems is a
jewellery and gem importer and wholesaler.
Sometimes, Pravinchandra Hiralal Shah is in the United States administering
the business of Apex Gems.
Besides operating
Apex Gems, P H Shah also operates another company known as Apex Jewelry Inc.
which is also a US-based company.
The subject also has
got an associate S. Rasiklal & Co. [S. Rasiklal] in India. S. Rasiklal is a diamond manufacturer. It is also the main supplier of the
subject. S. Rasiklal & Co. belongs
to a group of companies in Mumbai, India.
The contact person of
S. Rasiklal & Co. is also Pravinchandra Hiralal Shah. Located at Panchratna, No. 1904, Opera House,
Mumbai, India, S. Rasiklal & Co. is famous for its single cut, full cut
polished diamonds and loose diamonds.
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 2016” which will
be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 1st
to 5th March, 2016. Its booth No. is AWE
5-A23.
The contact person of
the subject Mr. Steve is the General Manager.
He is a Hongkongnese.
Supported by S.
Rasiklal and Apex Gems, the subject’s business is normal. History in Hong Kong is over eight years and
seven months.
On the whole,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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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.