MIRA INFORM REPORT
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Report No. : |
327717 |
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Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE TRADES |
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Registered Office : |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
09.02.1981 |
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Com. Reg. No.: |
7053042 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Jewelry. |
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No. of Employees : |
About 5 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
Contact
Points
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Company Name: |
Reliance Trades |
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Supplied Name: |
Reliance Traders |
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Trading Address: |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon,
Hong Kong |
|
Supplied
Address: |
A-4-6th Floor,
Hankow Centre, 47 Packing Road, Tsim Sha Tsui Kowloon |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd.,
Tsim Sha Tsui, Kowloon, Hong Kong |
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Telephone Number: |
+852-2366-3063 |
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Fax Number: |
+852-2311-0919 |
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E-mail: |
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Date of Registration: |
1981-02-09 |
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Business Registration No.: |
7053042 |
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Registered Capital: |
N/A |
|
Legal Form: |
Partnership |
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SITC Code: |
89731--Articles of jewelry and parts thereof, of precious metals or
metals clad with precious metals (g) |
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Principal Activities: |
Trading of jewelry |
|
Staff: |
About 5 Employees |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: We
cannot obtain the registered capital for the company with the legal form of
Partnership, and the subject declined to disclose the information, either.
History
Subject was incorporated on 1981-02-09 with the business registered number 7053042 as Partnership in Hong Kong.
Corporate
Structure
Subject did not
register any subsidiaries or branches, from other source we can not obtain the
relevant information, either.
Partners
|
1 |
|
|
Name: |
Mohamed Sadakthambi, Asik A |
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Position: |
Partner |
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Address: |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon,
Hong Kong |
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ID Card No.: |
K4206916 |
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Date of Entry: |
1985-07-24 |
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2 |
|
|
Name: |
Mohamed, S.A.K. Mafaz |
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Position: |
Partner |
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Address: |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon,
Hong Kong |
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ID Card No. : |
K8720967 |
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Date of Entry: |
2010-06-24 |
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3 |
|
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Name: |
Seyed Abdul Kader, S A G |
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Position: |
Partner |
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Address: |
2/F, 11 Lock Rd., Kowloon, Hong Kong. |
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ID Card No. : |
XD 0069413 |
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Date of Entry: |
1981-02-09 |
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Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong |
Premises
Information
The subject is located at Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong. However we cannot get any related registration information for this address in the official authorities.
Production
Information
Subject is a trader of jewelry, etc. without any production activities.
Purchase
Information
The products of subject are mostly purchased from abroad.
Sales Information
· Subject is engaged in sales of jewelry, etc.
· The major products are jewelry, jade, diamond and semi-precious stone and son on.
· Subject’s sales regions include domestic market, Southeast Asia, America and Europe, etc.
· Subject’s major customers are jewelry stores, etc.
Settlements
PURCHASE
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Jewelry, etc. |
|
Payment Terms |
L/C, T/T, etc. |
SALES
Domestic Markets
|
Product |
Jewelry, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Jewelry, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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, and 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
|
2011-02-02 |
|
|
Court Name: |
High Court Civil Action |
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Court No.: |
201 |
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Claimant: |
Pankaj Diamond (a firm) c/o David Y.W. Man & Co (a firm) |
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Defendant: |
Mohamed Seyed Abdul Kader Mafaz t/a Reliance Trades c/o A-4, 6/F, Hankow Centre, 47 Peking Road, Tsim Sha Tsui, Kln, HK |
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Reason: |
DEBT |
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Amount(HKD): |
-- |
Mortgage Record
No mortgage record of the subject was found
Special
Note
Interview Details
|
Name |
Mr. Abdul Kader |
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Position: |
Partner |
Industry
Information
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
21,838 |
246,702 |
3,962,363 |
4,148,848 |
|
Austria |
2,852 |
895 |
34,083 |
13,753 |
|
Australia |
9,712 |
7,184 |
334,232 |
164,960 |
|
Belgium |
4,303 |
25,109 |
49,956 |
61,107 |
|
France |
71,446 |
124,469 |
1,667,663 |
2,809,557 |
|
Canada |
39,173 |
27,371 |
453,948 |
170,678 |
|
Switzerland |
637,297 |
753,445 |
4,386,528 |
13,359,634 |
|
The Mainland of China |
17,339,344 |
3,031,144 |
215,489,594 |
40,326,586 |
|
Exports |
||||
|
United Arab Emirates |
47,741 |
53,599 |
578,786 |
454,913 |
|
Austria |
229 |
175 |
6,429 |
10,169 |
|
Australia |
14,749 |
15,969 |
368,777 |
163,057 |
|
Belgium |
853 |
770 |
35,567 |
21,710 |
|
Brazil |
4,205 |
1,694 |
10,882 |
7,386 |
|
Canada |
10,035 |
2,940 |
85,987 |
35,619 |
|
Switzerland |
5,218 |
22,583 |
288,903 |
861,464 |
|
The Mainland of China |
131,662 |
11,710 |
3,222,761 |
238,194 |
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 |
|
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 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
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 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
Attachment
We confirmed that subject is located at the supplied address as follows with relevant staff, but there is no name on the wall.
Address: Flat A 4, 6/F, Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong
Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong
6/F, Hankow
Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong
Flat A 4, 6/F,
Hankow Centre, 47 Peking Rd., Tsim Sha Tsui, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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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 |
-- |
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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.