MIRA INFORM REPORT
|
Report No. : |
325242 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
HARSH UNIVERSAL (HK) LIMITED |
|
|
|
|
Registered Office : |
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
04.08.2008 |
|
|
|
|
Com. Reg. No.: |
39641134 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Diamonds. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Contact
Points
|
Company Name: |
|
|
Supplied Name: |
Harsh Universal HK Ltd |
|
Trading Address: |
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui,
Hong Kong |
|
Supplied Address: |
12th Floor, #1204, HArt Avenue Plaza 5-9 Hart Avenue TST Kowloon |
Note: The exact name
and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui,
Hong Kong |
|
Telephone Number: |
+852-2721-5678 |
|
Fax Number: |
+852-2721-5677 |
|
Date of Registration: |
2008-8-4 |
|
Registered Number: |
1261898 |
|
Business Registration No.: |
39641134 |
|
Paid-up Capital: |
HKD 100,000 (USD 12,900) = 100,000 Shares@ HKD 1 (As of 2015.06, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise worked, but not mounted or
set (cm) |
|
Principal Activities: |
Trading of diamonds. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-4 |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant information,
either.
History
Subject was incorporated on 2008-8-4 with the registered number 1261898
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not introduce whether it has any
subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Vamja Exports |
100,000 |
100% |
|
Total |
100,000 |
100% |
Major Shareholder
Information:
|
Name: |
Vamja Exports |
|
Address: |
303, Hariom Apt., (Opposite Ramnagar) A. K. Road, Varachha, Surat,
Gujarat-395 006, India |
Management
Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Vamja Mansukhlal Shambhubhai |
|
Address: |
168, Ankur Society, Ashwani Kumar Road, Varachha, Surat, Gujrat –
395006 India |
|
Position: |
Director |
|
Passport Number: |
G5980984 |
|
Issuing Country: |
India |
|
2 |
|
|
Name: |
Buttar Secretarial Limited |
|
Address: |
Unit 13, 16/F, Asia Trade Centre, No. 79 Lei Muk Road, Kwai Chung, N.
T. , Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
2086550 |
|
Date of Appointment: |
2014-7-31 |
Former Directors:
|
Name: |
Buttar. HK. Limited |
|
Position: |
Corporate Secretary |
|
Date of Cessation: |
2014-7-31 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
|
|
Area: |
|
Premises
Information
Office address:
|
Address: |
Office No.4 On 12th Floor Hart Avenue Plaza Nos.5, 5a, 7, 7a, 9 & 9a Hart Avenue Kowloon |
|
Owners: |
Broadrate Company Limite |
|
Memorial Number: |
UB4912226 |
|
Date of Instrument: |
1991-6-15 |
|
Date of Registration: |
1991-7-26 |
|
Consideration Value: |
|
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
UB5544624 |
|
Date of Instrument: |
1993-1-5 |
|
Date of Registration: |
1993-1-27 |
|
Nature: |
Declaration Of John Ho As To Loss Of Title Deeds |
|
2 |
|
|
Memorial No.: |
UB5331445 |
|
Date of Instrument: |
1992-6-8 |
|
Date of Registration: |
1993-7-3 |
|
Nature: |
No-Objection Letter Re Kil 10579 Rp |
|
3 |
|
|
Memorial No.: |
UB5331444 |
|
Date of Instrument: |
1992-6-8 |
|
Date of Registration: |
1992-7-3 |
|
Nature: |
No-Objection Letter Re Kil 10524 Rp |
Production
Information
The subject is a trader of diamonds and etc without any production
activities.
Purchase
Information
It is introduced that subject imports its products mainly from India and
etc.
Sales Information
The subject is mainly engaged in sales of diamonds and etc.
Subject’s major products include fancy diamonds, yellow diamonds, Loose
diamonds
It is introduced that subject is selling some diamonds with GIA
certifications.
Subject’s major selling territory is mainly in domestic market.
Subject’s major customers are manufacturers and designers of jewelry,
watch and etc.
Settlements
Purchase
Domestic Purchase
It is introduced that subject has little purchases in domestic market.
Import
|
Diamonds and etc |
|
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Diamonds and etc |
|
Selling Terms |
Cash, T/T and etc |
Export
It is introduced that subject has little export.
Financial
Information
The subject has no obligation to supply its
financial statement to the third party according to the relevant policy in Hong
Kong and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff rejected to disclose the financial information,
from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage records of subject were not found.
Lawsuits
Up to now, no present or latent litigation of the subject has been
found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Department: |
Sales Department |
|
E-mail: |
Industry
Information
66729--Diamonds, non-industrial, otherwise worked,
but not mounted or set (cm)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab
Emirates |
113,655 |
854,839 |
1,452,417 |
10,085,815 |
|
Brazil |
33 |
1,437 |
174 |
5,836 |
|
Australia |
2,033 |
41,188 |
10,332 |
181,710 |
|
Belgium |
81,093 |
1,198,674 |
1,070,230 |
181,710 |
|
Germany |
154 |
614 |
18,279 |
80,845 |
|
Canada |
202 |
1,578 |
7,643 |
104,109 |
|
Switzerland |
5,866 |
161,374 |
56,112 |
1,665,846 |
|
Japan |
36,378 |
286,671 |
497,269 |
3,174,371 |
|
Thailand |
65,194 |
243,239 |
657,318 |
3,002,179 |
|
India |
765,990 |
3,982,962 |
12,544,931 |
64,883,740 |
|
The Mainland of
China |
117,833 |
912,624 |
1,337,780 |
10,148,553 |
|
Exports |
||||
|
United Arab
Emirates |
-- |
-- |
54 |
4,421 |
|
Israel |
61 |
10,875 |
153 |
38,772 |
|
-- |
-- |
3 |
116 |
|
|
Thailand |
-- |
-- |
422 |
1,865 |
|
USA |
140 |
2,916 |
2,982 |
55,371 |
|
Belgium |
2 |
74 |
463 |
70,594 |
|
Singapore |
-- |
-- |
28 |
4,990 |
|
The Mainland of
China |
186 |
496 |
4,894 |
15,396 |
External
Trade Information:
External
Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year %
change of Total exports |
Merchandise
trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui, Hong
Kong
%20LIMITED%20-%20325242%2005-Jun-2015_files/image012.jpg)
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui, Hong
Kong
%20LIMITED%20-%20325242%2005-Jun-2015_files/image013.jpg)
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui, Hong
Kong
%20LIMITED%20-%20325242%2005-Jun-2015_files/image014.jpg)
Rm 1204, 12/F, Hart Avenue Plaza, 5-9A Hart Avenue, Tsim Sha Tsui, Hong
Kong
%20LIMITED%20-%20325242%2005-Jun-2015_files/image015.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.