MIRA INFORM REPORT
|
Report No. : |
310697 |
|
Report Date : |
05.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARCOS HONG KONG LIMITED |
|
|
|
|
Registered Office : |
Unit 6405, 64/F., Central Plaza, 18 Harbour
Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
29.08.2005 |
|
|
|
|
Com. Reg. No.: |
992677 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged as trader of diamonds |
|
|
|
|
No of Employees : |
About 5 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 34.9
million in 2012, 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
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% 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.
|
Source : CIA |
Contact Points
|
Company Name: |
|
|
Supplied Name: |
Arcos hong Kong Limited |
|
Trading Address: |
Unit 6405, 64/F., Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong |
|
Supplied Address: |
Unit 6405, 64/F Central Plaza, 18 Harbour Road, Wanchai |
Note: The exact name and address are as above.
Credit Summary
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Unit 6405,
64/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2521-9292 |
|
Fax Number: |
+852-2521-9636 |
|
E-mail: |
|
|
Date of Registration: |
2005-8-29 |
|
Registered Number: |
992677 |
|
Business Registration No.: |
36029084 |
|
Paid-up Capital: |
USD 300,000 = 300,000 Shares @ USD 1 |
|
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: |
About 5 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-29 |
History
Subject was incorporated on 2005-8-29 with the registered number 992677 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Major Related
Companies
|
1 |
|
|
Name: |
Arcos Belgium N.V. |
|
Address: |
Lange Herentalsestraat 62/70, 2018
Antwerpen, Belgium |
|
Tel: |
+323-227-0658 |
|
Fax: |
+323-227-1870 |
|
2 |
|
|
Name: |
Arcos Diamonds Israel Ltd |
|
Address: |
52520, Diamond Exchange Maccabi Bldg. 2031,
1 Jabotinsky Str., Ramat-Gan, Israel |
|
Tel: |
+972-3-612-8680/1/2 |
|
Fax: |
+972-3-612-8714 |
|
3 |
|
|
Name: |
Arcos East DMCC |
|
Address: |
Jumeirah Lake Towers, Almas Tower, floor 47,
office D, P.O. Box 340510, Dubai, UAE |
|
Tel: |
+9714-428-1312 |
|
Fax: |
+9714-428-1311 |
|
4 |
|
|
Name: |
Arcos USA, Inc. |
|
Address: |
580 Fifth Avenue, NY 10036, New York, USA |
|
Tel: |
+1-212-921-4300 |
|
Fax: |
+1-212-921-4646 |
|
5 |
|
|
Name: |
Arcos Limited |
|
Address: |
2nd Floor, 86 Hatton Garden, London,
EC1N8QQ, UK |
|
Tel: |
+44-20-7831-3004 |
|
Fax: |
+44-20-7242-3174 |
Shareholder
|
Subscription Shares |
Proportion of Investment (%) |
|
|
300,000 |
100% |
|
|
Total |
300,000 |
100% |
Major Shareholder
Information:
|
Name: |
Ojscalrosa |
|
Address: |
7, U1, Lenina, Mimy 678170, Republic of
Sakha (Yakutia) |
Management Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Egorov Timur |
|
Address: |
Flat 38A, 38/F., Tower 3, Phase 6, Bel-Air On
The Peak, No.8 Bel-Air Peak Avenue Island South, Hong Kong |
|
Position: |
Director |
|
Passport Number: |
714872431 |
|
Issuing Country: |
Russian Federation |
|
2 |
|
|
Name: |
Kurochkin Oleg |
|
Address: |
Fl.127 Bldg 8, Michurinskiy Prsp, Moscow, Russian
Federation |
|
Position: |
Director |
|
Passport Number: |
51NO.4623602 |
|
Issuing Country: |
Russian Federation |
|
3 |
|
|
Name: |
Malinin Alex Ander |
|
Address: |
Fl.2, Bldg.6, Bolshoy Afanassievsky Per.
119048, Moscow, Russian Federation |
|
Position: |
Director |
|
Passport Number: |
530182839 |
|
Issuing Country: |
Russian Federation |
|
4 |
|
|
Name: |
Nogovitsyn Vladlen |
|
Address: |
Flat A, 18/F Tower 3 Bel-Air No.8 Bel-Air on
the Peak Island South, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R506125 |
|
5 |
|
|
Name: |
Smagin Evgeny |
|
Address: |
Fl.74, Blk.3, Bldg 1., Ivanteevskaya Street,
107150, Moscow, Russian Federation |
|
Position: |
Director |
|
Passport Number: |
530318531 |
|
Issuing Country: |
Russian Federation |
|
6 |
|
|
Name: |
TMF Secretaries (HK) Limited |
|
Address: |
36/F., Tower Two, Times Square, 1 Matheson
Street, Causeway Bay, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
99444 |
Personnel
Structure
|
Total Employees |
Operation Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit 6405,
64/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong |
Premises
Information
Office address:
|
Address: |
64th Floor, Central Plaza, No.18 Harbour
Road, Hong Kong |
|
Owners: |
Cheer City Properties Limited Protasan Limited |
|
Memorial Number: |
Remarks: Conditions of sale no.12060 of Il
8643 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
12110500460210 |
|
Date of Instrument: |
2012-10-9 |
|
Date of Registration: |
2012-11-5 |
|
Nature: |
Lease with plan re office unit no. 6409 Remarks: 36 months and 16 days from
2012-6-15 to 2015-6-30 |
|
In Favor of: |
China Water Affairs Management Limited |
|
Consideration: |
The rent is HKD 73,920.00 per month |
|
2 |
|
|
Memorial No.: |
UB9068902 |
|
Date of Instrument: |
2003-9-19 |
|
Date of Registration: |
2003-12-3 |
|
Nature: |
Lease with plan re office 6401 & 6402 for 6 years Remarks: From 2003-9-1 to 2009-8-31 for rent
see memorial with an option to renew for 3 years |
|
In Favor of: |
Royal Consulate General of Saudi Arabia |
|
3 |
|
|
Memorial No.: |
UB8240687 |
|
Date of Instrument: |
2000-10-12 |
|
Date of Registration: |
2000-11-16 |
|
Nature: |
Tenancy agreement re office unit 6401 for 2 years with plan Remarks: From 2000-9-1 to 2002-8-31 monthly
rent is HKD 163,846 with an option to renew for a further term of 2 years |
|
In Favor of: |
Commverge Solutions Limited |
Production
Information
l Subject is a trader of diamonds without any production activities.
Purchase
Information
l Subject purchases products mainly from abroad such as Russia, etc.
Sales
Information
l Subject is engaged in sale of diamonds
l Some diamonds sold by subject has the certifications of GIA or HRD.
l Subject’s sales region focuses on Asia market.
l Subject’s major customers are jewellery manufacturers, retailers and
individuals, etc.
Settlements
Purchase
1.
Domestic Purchase
Subject has little domestic purchase.
2.
Import
|
Products |
Diamonds |
|
Payment Terms |
T/T, etc |
Sales
1.
Domestic Markets
|
Product |
Diamonds, |
|
Selling Terms |
Cash, T/T, etc |
2.
Export
|
Product |
Diamonds, etc |
|
Selling Terms |
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; 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 record of subject was 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 |
Industry Information
66729--Diamonds, non-industrial, otherwise
worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
96,110 |
728,817 |
662,210 |
4,475,744 |
|
Armenia |
-- |
-- |
461 |
1,049 |
|
Australia |
1,756 |
23,658 |
3,733 |
54,816 |
|
Belgium |
84,515 |
1,239,263 |
423,171 |
6,622,381 |
|
Canada |
476 |
2,771 |
2,771 |
48,195 |
|
Switzerland |
8,077 |
206,582 |
32,377 |
858,188 |
|
Germany |
709 |
2,321 |
12,087 |
20,158 |
|
Britain |
1,277 |
88,340 |
9,442 |
386,120 |
|
Israel |
65,772 |
1,433,655 |
360,130 |
8,238,886 |
|
India |
981,536 |
4,727,211 |
5,338,417 |
26,201,042 |
|
Malaysia |
3,860 |
18,103 |
19,791 |
137,275 |
|
USA |
129,016 |
1,115,405 |
703,068 |
6,169,441 |
|
The Mainland of China |
114,204 |
798,063 |
516,495 |
3,689,202 |
|
Exports |
||||
|
United Arab Emirates |
-- |
-- |
53 |
749 |
|
Israel |
-- |
-- |
50 |
24,803 |
|
-- |
-- |
3 |
116 |
|
|
Singapore |
-- |
-- |
17 |
208 |
|
Belgium |
13 |
4,441 |
249 |
67,929 |
|
Thailand |
-- |
-- |
251 |
732 |
|
USA |
33 |
924 |
465 |
35,419 |
|
The Mainland of China |
157 |
184 |
2,711 |
8,359 |
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
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
64/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong
Unit 6405, 64/F., Central Plaza, 18 Harbour
Road, Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.94.96 |
|
Euro |
1 |
Rs.69.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.