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Report No. : |
327056.2 |
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Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVERFINE
ENTERPRISE LTD. |
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|
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Registered Office : |
C/o Fan Wong
& Tso, Room 3507, 35/F., Tower 2, Lippo Centre, 89 Queensway |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.05.2006 |
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Com. Reg. No.: |
36862519 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is importer, exporter and wholesaler of tv, headphone,
speaker, hi-fi, other electronic products |
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|
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No. of Employee : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
EVERFINE
ENTERPRISE LTD.
c/o Fan Wong &
Tso
Room 3507, 35/F.,
Tower 2, Lippo Centre,
89 Queensway, Hong
Kong.
(Your
enquiry given as: EVERFINE ENTERPRISES PVT LTD of the same address.)
PHONE: 852-2549 3644
FAX: 852-2549 3544
E-MAIL: everfinehkg@gmail.com
Managing
Director: Mr. Madhu Karamchandani
Incorporated
on: 9th May, 2006.
Organization: Private Limited Company.
Issued Share
Capital: HK$2.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 2. (Hong Kong)
Main Dealing
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered Head Office:-
c/o Fan Wong & Tso
Room 3507, 35/F., Tower 2, Lippo Centre,
89 Queensway, Hong Kong.
Associated Company:-
Wuxi Everfine Enterprise Ltd., China.
36862519
1043595
Managing
Director: Mr. Madhu Karamchandani
HK$2.00
(As
per registry dated 09-05-2015)
|
Name |
|
No.
of shares |
|
Mohan
KARAMCHANDANI |
|
1 |
|
Madhu KARAMCHANDANI |
|
1 |
|
|
|
– |
|
|
Total: |
2 = |
(As
per registry dated 09-05-2015)
|
Name (Nationality) |
Address |
|
Madhu
KARAMCHANDANI |
Flat C, 3/F., Block 2, Winner Court, 18
Hospital Road, Sheung Wan, Hong Kong. |
(As
per registry dated 09-05-2015)
|
Name |
Address |
|
Mohan
KARAMCHANDANI |
Flat C, 3/F., Block 2, Winner Court, 18 Hospital Road, Sheung Wan,
Hong Kong. |
The
subject was incorporated on 9th May, 2006 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: TV, headphone, speaker,
Hi-Fi, other electronic products
Employees: 2.
(Hong Kong)
Commodities Imported:
China, Taiwan, other Asian countries, etc.
Markets: India, other Asian countries,
etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: Various terms.
Issued Share
Capital: HK$2.00
Profit or Loss: Made small profits in past year.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment: Met as required.
Commercial
Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Everfine Enterprise Ltd. was incorporated on 9th May, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject’s registered office is in a law firm located at ‘Room 3507, 35/F., Tower 2, Lippo Centre, 89 Queensway, Hong Kong’ known as ‘Fan Wong & Tso’ which is handling its correspondences and documents.
According to the Companies Registry of Hong Kong, the subject has issued just two ordinary shares of HK$1.00 each which are equally owned by Mr. Mohan Karamchandani and Mr. Madhu Karamchandani.
They are Hong Kong ID holders and have got the right to reside in Hong Kong permanently. The latter is also the only director of the subject.
The subject’s operating office is in the Hong Kong residence of the two Karamchandanis located at Flat C, 3/F., Block 2, Winner Court, 18 Hospital Road, Sheung Wan, Hong Kong. We can reach Mohan Karamchandani at his Hong Kong phone number 852-2549 3644. The subject is chiefly trading in entertainment electronic products: TV, headphone, speaker, Hi-Fi, other electronic products, etc.
The subject has had an associated company in Wuxi City, Jiangsu Province, China. The China company is responsible for sourcing commodities form the suppliers in China.
The subject’s commodities are chiefly sourced from China. It also sources form Taiwan, the other Asian countries, etc. Prime markets are India and the other Asian countries, etc.
In Hong Kong, the subject’s business is chiefly handled by the two Karamchandanis.
As the history of the subject is over 9 years in Hong Kong, on the whole, consider it good for normal credit requirements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.