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Report No. : |
326372 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SU-RAJ INTER GOLD (HK) |
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Registered Office : |
Flat E, 9/F., Harilela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
30.12.2003 |
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Com. Reg. No.: |
34310497-000-12 |
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Legal Form : |
Partnership. |
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Line of Business : |
Importer, Exporter and Wholesaler of Precious Stones, Gems, Diamonds. |
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No. of Employees : |
2. (Including associates) |
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 |
SU-RAJ INTER
GOLD (HK)
ADDRESS: Flat
E, 9/F., Harilela Mansion, 81 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong.
PHONE: 852-2191
9220, 2366 8552
FAX: 852-2366
5744
E-MAIL: rakesh@su-rajintergold.com
Manager: Mr. Rakesh Kanakraj Kothari
Establishment: 30th December, 2003.
Organization: Partnership.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: 2. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat E, 9/F., Harilela Mansion, 81 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
My Creations, Hong Kong.
(Same address)
Rajab Gem Corporation, Hong Kong.
Rajab Traders, Hong Kong.
(Same address)
Su-Raj Inter Gold DMCC, UAE.
Su-Raj Inter Gold Inc., USA.
Su-Raj Inter Gold Pvt. Ltd., Thailand.
34310497-000-12
Manager: Mr. Rakesh Kanakraj Kothari
Name: Rakesh Kanakraj KOTHARI
Residential Address: A/10
B. No. 001 Yogi Nagar Eksar Road, Borivali (W), Mumbai-400092, India.
Name: Rajeev Bharat MEHTA
Residential Address: B/37
Shanti Sadan Shankar Lane, Kandivali (W), Mumbai-400067, India.
Name: Seyed Mohamed SALIHU
SEYED AHAMED
Residential Address: Flat
F, 13/F., Golden Crown Court, 70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
The subject was established on 30th December, 2003 as a
sole proprietorship concern owned by Mr. Prakesh Madhusudhan Doshi under the
Hong Kong Business Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Prakesh Madhusudhan DOSHI |
30-12-2003 |
11-06-2009 |
|
Arpit Dineshchandra SHAH |
02-03-2004 |
15-01-2007 |
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Rajan Kishorimal KHIMAWAT |
04-03-2004 |
17-12-2005 |
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Kishoremal V. KHIMAWAT |
04-03-2004 |
17-12-2005 |
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Rakesh Kanakraj KOTHARI |
15-01-2007 |
--- |
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Sachin Bandu SHENDE |
21-05-2007 |
11-06-2007 |
|
Rajeev Bharat MEHTA |
21-05-2007 |
--- |
|
Seyed Mohamed SALIHU SEYED AHAMED |
11-06-2009 |
--- |
Now the subject is a partnership jointly owned by three
India merchants.
Initially the subject
was located at Flat D, 7/F., Luxury Court, 9 Hau Fook Street, Tsimshatsui,
Kowloon, Hong Kong, moved to Room 607, 6/F., Carnarvon Plaza, 20-20C Carnarvon
Road, Tsimshatsui, Kowloon, Hong Kong in March 2004; to Flat E, 5/F.,
Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in July
2006; moved to Flat F, 13/F., Golden Crown Court, 66-70 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong in October 2008 and further to the present
address in October 2011.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Precious
stones, gems, diamonds
Employees: 2.
(Including associates)
Commodities Imported:India, other Asian countries,
Europe, etc.
Markets: Japan,
Taiwan, other Asian countries, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Hong Kong Jewellery & Jade Manufacturers Association,
Hong Kong.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKS0957]
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a normal
condition.
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: Small.
Su-Raj Inter Gold
(H.K) is a partnership jointly owned by three Indian, namely, Mr. Rakesh
Kanakraj Kothari, Mr. Rajeev Bharat Mehta and Mr. Seyed Mohamed Salihu
Seyed Ahamed. The last partner joined in
the subject in June 2009.
Formerly the
registered address of the subject was located at Flat F, 13/F., Golden Crown
Court, 66-70 Nathan Road, Tsimshatsui, Kowloon, Hong Kong where is the
residential address of Salihu Seyed Ahamed.
It moved to ‘Flat E, 9/F., Harilela Mansion, 81 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong’ where is the present address in October
2011. This office is also in a
residential building.
Business commenced in
December 2003, the subject has got its partners changed for many times.
The subject has had
two associated companies known as Rajab Gem Corporation and My Creations. The
subject is a diamond trader, so do the other two firms. My Creations is also located at the same
address of the subject.
The subject is
trading in loose diamonds, emerald, precious stones, ruby jade, gem sets,
semi-precious stones, blue or coloured sapphire, Tanzanite, imitation, 18K gold
metal jewellery, etc. Its main products
are bracelets, brooches, earrings, necklaces, rings, pendants, bangles,
jewellery sets, 3-piece sets, cufflinks, 18kt to 9kt white & yellow gold
fine jewellery, etc. Products are
exported to worldwide countries.
The business of Rajab
Gem Corporation is handled by Mr. Seyed Ahamed Seyed Mohamed Salihu while My Creations
by Mr. Rakesh Kanakraj Kothari and Mr. Rajeev Bharat Mehta.
Besides Rajab Gem
Corporation and My Creations, the subject has had a third affiliated company
known as Rajab Traders located at its operating address. Rajab Traders is engaged in sourcing and
distributing imitation jewellery, mobile phones, batteries, memory cards,
etc. This firm and Rajab Gem Corporation
are under the same management.
The subject in fact
is a member of Su-Raj Inter Gold Group [Su-Raj]. Main office is in Bangkok, Thailand, other
offices have been set up in Dubai, New York besides the subject in Hong Kong.
The associated company in Dubai is known as Su-Raj Inter
Gold DMCC. According to the subject, Su-Raj
Inter Gold DMCC is located at Suite 56, Zone 5, 2/F., The Gold Centre Building,
Dubai, the United Arab Emirates. Its
mailing address is P. O. Box 172157, Old Gold Souk, Dubai, the United Arab
Emirates.
In order to penetrate the international market further,
Su-Raj has taken part in fairs and exhibitions held in Hong Kong, New York,
Miami, Bangkok, Basel, Vicenza, Las Vegas, Arabia, Bahrain and other foreign
large cities.
In Hong Kong, it took part in “HKTDC Hong Kong
International Jewellery Show 2015” which had been held in Hong Kong Convention
and Exhibition Centre, Wanchai, Hong Kong during the period of 5th to 9th
March, 2015.
The business of the Group is normal.
As the history of the subject in Hong Kong is over eleven
years and five months, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.88 |
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|
1 |
Rs.98.47 |
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Euro |
1 |
Rs.72.15 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.