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Report No. : |
324193 |
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Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
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Name : |
UNI STAR |
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Registered Office : |
Flat H, 13/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong. |
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Date of Incorporation : |
30.08.2007 |
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Com. Reg. No.: |
38339904-000-08 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS AND JEWELLERY
PRODUCTS, EMERALD, PRECIOUS STONES. |
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No. of Employee : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
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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 |
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 |
UNI STAR
ADDRESS: Flat H, 13/F., Windsor
Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available
MANAGEMENT:
Manager: Mr. Prakash Himatlal
Shah
Establishment: 30th August, 2007.
Organization: Sole
Proprietorship.
Capital: Not disclosed.
Business Category: Diamond
Trader.
Employees: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Flat H, 13/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
38339904-000-08
Manager: Mr. Prakash Himatlal
SHAH
Name: Prakash Himatlal SHAH
Residential Address: 803, Vastu
Apartment, Gorpaof Road, Macad-West, Mumbai, India.
The subject was established on 30th August, 2007 as a sole proprietorship
concern owned by Nilesh Manharlal Chauhan under the Hong Kong Business
Registration Regulations.
The following table shows the changes of the partners:-
|
Name |
Incoming Date |
Outgoing Date |
|
Nilesh Manharlal CHAUHAN |
30-08-2007 |
28-09-2011 |
|
Ankit Lalit SHAH |
11-12-2008 |
23-03-2009 |
|
Prakash Himatlal SHAH |
12-02-2010 |
--- |
Now, the subject is still a sole proprietorship but owned by Prakash
Himatlal Shah.
Apart from these, neither material change nor amendment has been ever traced
and noted.
Activities: Importer, Exporter
and Wholesaler.
Lines: All kinds of
diamonds and jewellery products, emerald, precious stones
Employees: 1.
Commodities Imported: India,
Belgium, other European countries
Markets: Japan, Southeast
Asia, Europe, Middle East, Scandinavia
Terms/Sales: L/C. T/T
Terms/Buying: L/C, T/T, D/P
Capital: Not disclosed.
Profit & Loss: Making a very
small profit every year.
Condition: Business is
normal.
Facilities: Making use of
general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Uni Star was set up in August 2007 and now it is solely owned by
Mr. Prakash Himatlal Shah who is an India merchant. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also manager of the subject.
The subject’ registered address is located at ‘Flat H, 13/F., Windsor
Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong’ where is
the residence of P H Shah when he is in Hong Kong.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories. Your given phone and fax number 852-2890 6584
and 852-2894 8414 respectively do not belong to the subject. They belong to a company known as Star Gems
which is registered in Hong Kong. The
followings are the particulars of Star Gems:
Address: Room 502, 5/F, Hang Seng
Building, 18 Carnarvon Road,
Tsimshatsui, Kowloon, Hong Kong.
Tel: (852) 2890 6584
Fax: (852) 2894 8414
The subject is also using the operating address of Star Gems for its
correspondences. Star Gems is an
associated company of Excel Overseas Pvt. Ltd. which is in Mumbai, India. Both companies are diamond traders.
The subject is a diamond importer, exporter and wholesaler. Commodities are chiefly imported from India,
Thailand, Belgium, etc. Processed
diamonds or jewellery products are marketed in Hong Kong and exported to India,
other Asian countries, the United States, Europe, the Middle East
The subject’s business is chiefly handled by Prakash Himatlal Shah
himself. Business is normal. History in Hong Kong is over six years
and two months.
On the whole, consider the subject good for business engagements in
small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
ANK |
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 |
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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 |
|
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 |
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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.