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Report No. : |
325122 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
A. R. TRADING CO. LTD. |
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Registered Office : |
Room 1205, 12/F., Car Po Commercial Building, 18-20 Lyndhurst Terrace, Central |
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Country : |
Hongkong |
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Date of Incorporation : |
22.12.1983 |
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Com. Reg. No.: |
08758738 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of Electronic Products, Garments,
Electrical Accessories, Stationery, Telecommunication Equipment. |
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No. of Employees : |
7 |
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 |
A. R. TRADING CO.
LTD.
ADDRESS: Room 1205, 12/F., Car Po
Commercial Building, 18-20 Lyndhurst Terrace, Central, Hong Kong.
PHONE: 852-2545
3177, 2545 2875
FAX: 852-2541
0519, 2541 6045
E-MAIL: lavi@artrdg.com
Managing Director:
Mr. Ashok Radhakrishin
Khemaney
Incorporated on: 22nd December, 1983.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000,000.00
Business Category: Importer
and Exporter.
Annual Turnover: HK$300-350 million.
Employees: 7.
Main Dealing Bankers:UCO Bank, Hong Kong Branch.
Standard
Chartered Bank, Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
Room 1205, 12/F., Car Po Commercial Building, 18-20
Lyndhurst Terrace, Central, Hong Kong.
Mailing Address:
G.P.O. Box 1948, Hong Kong.
Associated Company:-
Kingsmart Industries Ltd., Hong Kong. (Same address)
08758738
0131621
Managing Director:
Mr. Ashok Radhakrishin
Khemaney
Contact Person: Mr. Lavi Khemaney
HK$10,000,000.00
(As per registry
dated 22-12-2014)
|
Name |
|
No. of shares |
|
Ashok Radhakrishin KHEMANEY |
|
53,999 |
|
Rani Ashok KHEMANEY |
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46,001 |
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|
––––––– |
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Total: |
100,000 ====== |
(As per registry
dated 22-12-2014)
|
Name (Nationality) |
Address |
|
Rani Ashok KHEMANEY |
C-4, Alpine Court, 12 Kotewall Road, Hong Kong. |
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Love Kumar Ashok KHEMANEY |
C-4, Alpine Court, 12 Kotewall Road, Hong Kong. |
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Prakash Ashok KHEMANEY |
C-4, Alpine Court, 12 Kotewall Road, Hong Kong. |
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Ashok Radhakrishin KHEMANEY |
C-4, Alpine Court, 12 Kotewall Road, Hong Kong. |
(As per registry
dated 22-12-2014)
|
Name |
Address |
Co. No. |
|
Buttar Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai
Chung, New Territories, Hong Kong. |
2086550 |
The subject was incorporated on 22nd December, 1983 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
and Exporter.
Lines: Electronic
products, garments, electrical accessories, stationery, telecommunication
equipment.
Employees: 7.
Commodities Imported :Imported from China and other Asian
countries.
Markets: Europe,
Indonesia, South Africa, Middle East, North America, Southeast Asia, etc.
Annual Turnover: HK$300-350
million.
Terms/Sales: L/C, T/T and D/P.
Terms/Buying: L/C, D/P, D/A, T/T, etc.
The Hong Kong General Chamber of Commerce,
Hong Kong.
The Indian Chamber of Commerce Hong Kong, Hong Kong.
Issued Share Capital: HK$10,000,000.00
Mortgage or Charge (Since July 2011): (See attachment)
Profit or Loss: Made
good profits in the past years.
Condition: Business
is steady and active.
Facilities: Making
active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Good.
Bankers:-
UCO Bank,
Hong Kong Branch.
Australia and New
Zealand Banking Group Ltd., Hong Kong.
Bank of India,
Hong Kong Branch.
Canara Bank, Hong
Kong.
China CITIC Bank
International Ltd., Hong Kong.
Commonwealth Finance
Corporation Ltd., Hong Kong.
Crédit Agricole
Indosuez, Hong Kong Branch.
DBS Bank Ltd.,
Hong Kong Branch.
Shanghai Commercial
Bank Ltd., Hong Kong.
Standard Chartered
Bank, Hong Kong Branch.
Standing: Very Good.
Incorporated in
December 1983, A. R. Trading Co. Ltd. is jointly owned by two Indian, namely,
Mr. Ashok Radhakrishin Khemaney and Ms. Rani Ashok Khemaney. Having issued 100,000 ordinary shares of
HK$100.00 each, Mr. A. R. Khemaney holds 53,999 shares, accounting for
54%, while Ms. R. A. Khemaney holds 46,001 shares, accounting for 46%.
The subject is importing
and exporting the following commodities:-
Imports — Audio and
video products such as speakers, earphones, headphones, garments and
accessories, premium, novelties and gift items, telecommunication equipment,
children’s wear, jeans, games & toys, non‑electronic toys, watches,
electric appliances, etc.
Exports — Audio and
video products, electrical and electronic products n.e.s, premium, novelties
and gift items, toys and dolls, watches, clocks and components, stationery,
telecommunication equipment (excluding mobile phones), children’s wear, jeans,
games & toys, non-electronic toys, watches, electric appliances, etc.
Commodities are
sourced from China, Japan and the other Asian countries. Prime markets are the United Kingdom, other
European countries, Indonesia, Malaysia, South Africa, the Middle East, North
America, Taiwan, India, other Asian countries, etc. Long term business ties have been developed
with a number of suppliers and customers.
Business has been active and steady.
Its annual sales turnover ranges from HK$300 to 350 million.
The subject’s
business is mainly handled by Mr. A. R. Khemaney and Ms. R. A.
Khemaney and their family members such as Mr. Prakash Ashok Khemaney, Mr. Lavi
Khemaney, etc.
The subject operates
from a self-owned premises in Central District, Hong Kong.
The history of the
subject in Hong Kong is over 31 years.
Regular suppliers and customers have been maintained.
On the whole,
consider it good for normal business engagements.
Property
information of the company:-
1. Property
Location: Room 1205 on 12/F., Car
Po Commercial Building,
37-43 Pottinger Street & 18-20 Lynhurst Terrace, Hong Kong.
Owner: A. R.
Trading Co. Ltd.
Date of Purchase:
n.a.
Purchased Price:
n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
19-10-2000 |
- |
DBS Kwong On Bank Ltd., Hong Kong. [Merged into DBS Bank (Hong Kong)
Ltd.] |
Unlimited first legal charge to secure general banking
facilities |
2. Property
Location: Room 1206 on 12/F., Car
Po Commercial Building,
37-43 Pottinger Street & 18-20 Lynhurst Terrace, Hong Kong.
Owner: A. R.
Trading Co. Ltd.
Date of Purchase:
n.a.
Purchased Price:
n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
08-04-2002 |
- |
Citicorp Commercial Finance (H.K.) Ltd.,
Hong Kong. |
Legal charge to secure general banking facilities |
|
08-04-2002 |
- |
Citibank N.A., Hong Kong Branch. |
Second legal charge to secure general banking
facilities |
(Since July 2011)
|
Date |
Particulars |
Amount |
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26-07-2011 |
Instrument: Charge Over Deposit Property: Account Nos.: 15118 Mortgagee: Commonwealth Finance Corporation Ltd.,
Hong Kong. |
All the indebtedness and the due and punctual
performance and observance by the depositor of all its obligations &
liabilities to the Bank |
|
26-07-2011 |
Instrument: Letter of Hypothecation for Trade
Finance Property: Hypothecation of Goods and Product represented by any
of such documents as bills of exchange, bills of lading, shipping documents,
warrants, delivery order, wharfingers or other warehouse keeper’s
certificates or receipts and Invoices or other documents representing or
relating to Goods or to which any such documents relate and all policies of
insurance relating thereto and proceeds deriving therefrom Mortgagee: Commonwealth Finance Corporation Ltd.,
Hong Kong. |
All sum of Monies which may be now or may hereafter
from time to time become due or owing to the lender |
|
29-07-2011 |
Instrument: Undertaking Relating to Deposits Property: 1) Receipt
No.: 2009 FD 129 2 Date of Receipt: 7-09-2010 2) Receipt
No.: 2009 FD 111 3 3) Receipt
No.: 2010 FD 123 1 Mortgagee: Canara Bank, Hong Kong Branch. |
All any liabilities, sole or joint, actual or
contingent quantified or not, now or hereafter owing or incurred to the Bank
by the Depositor or the Third Party |
|
12-12-2011 |
Instrument: Charge Over Accounts Property: The Depositor charges the charged assets as beneficial
owner and by way of a first fixed charge, in favour of ANZ as continuing
security for the due and punctual payment of all moneys and performance of
all other obligations that the depositor and borrower, in any capacity and
whether alone or with any other person, is or at any time becomes actually or
contingently liable to pay or perform to, for or on account of ANZ in any
manner or on any account whatsoever pursuant to or in connection with the Secured
Facilities Mortgagee: Australia & New Zealand Banking
Group Ltd., Hong Kong Branch. |
All obligations owing to the Bank acting through its
head office or at any other branch by the depositor on any account, whether
present or future, actual or contingent, and whether as principal or surety
or in some other capacity |
|
26-07-2013 |
Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner: (a) Assigns
and agrees to assign absolutely to the Bank all the present and future
rights, title, interests and benefits of the Borrower in and to the following
assets: (i) Export Credits; (ii) Export Collection Bills; (iii) Sales
Contracts; (iv) Invoice Receivables; (v) Insurances; (vi) Trade Documents;
and (vii) all claims, remedies and proceeds in connection with any of the
foregoing; and (b) Charges
and agrees to charge to the Bank by way of first fixed charge all the present
and future rights, title, interests and benefits of the Borrower in and to
the following assets: (i) the Goods together with their proceeds; and (ii)
the Deposit; and (c) Pledges
& agrees to pledge to the Bank the Pledged Goods and the Trade Documents
which are now or may in the future be in the Bank’s possession Mortgagee: China CITIC Bank
International Ltd., Hong Kong. |
As security for the payment of all secured liabilities |
|
28-01-2014 |
Instrument: Charge Over Deposit Property: Account Nos.: 15118 Mortgagee: Commonwealth Finance Corporation Ltd.,
Hong Kong. |
All the indebtedness and the due and punctual
performance and observance by the depositor of all its obligations &
liabilities to the Bank |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
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.