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Report No. : |
350112 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
BOSHI TRADING CO. |
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Registered Office : |
Room 01, 8/F., Luk Yu Building 24-26 Stanley Street, Central |
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Country : |
Hongkong |
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Date of Incorporation : |
14.10.2004 |
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Com. Reg. No.: |
35011820-000-10 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of Carpets, Rugs, Garments, Garment Accessories,
Machinery & Equipment, Spare Parts. |
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No. of Employees : |
3 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
BOSHI
TRADING CO.
ADDRESS: Room
01, 8/F., Luk Yu Building 24-26 Stanley Street, Central, Hong Kong.
PHONE: 852-2868
4877
FAX: 852-2840
1990
E-MAIL: sales@boshitrdhk.com
Manager: Mr. Surinder Singh Pahil
Establishment: 14th October, 2004.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Room 01, 8/F., Luk Yu Building 24-26 Stanley Street,
Central, Hong Kong.
35011820-000-10
Manager: Mr.
Surinder Singh Pahil
Name: Mr. Surinder Singh
PAHIL
Residential Address: 2/F.,
Block B, 55-57 San Fung Avenue, Sheung Shui, New Territories, Hong Kong.
The subject was
established on 14th October, 2004 as a sole proprietorship concern owned by Mr.
Surinder Singh Pahil under the Hong Kong Business Registration Regulations.
Formerly the subject
was located at 14/F., Block E-3, Mirador Mansion, 54-58 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October 2004.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Carpets,
rugs, garments, garment accessories, machinery & equipment, spare parts.
Employees: 3.
Commodities Imported: China,
other Asian countries, etc.
Markets: India,
other Asian countries, Europe, etc.
Terms/Sales: L/C, Advanced T/T, etc.
Terms/Buying: L/C, D/P, O/A, etc.
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active 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.
Boshi Trading Co. is
a sole proprietorship set up and owned by Mr. Surinder Singh Pahil who is an
India merchant.
The subject is
trading in variety of products. It is trading
in the following commodities: Carpets, rugs, garments, garment accessories,
leather products, fabrics, textile machinery & equipment, other kinds of
machinery & equipment, spare parts, tools, general household electric
appliances, audio & video products, electronic products, computer and
related products, telecommunication products, chemicals, agro-chemicals,
dyestuffs, plastic raw materials, rubber products, footwear, sporting shoes,
watches & clocks, glasses, ferrous and non-ferrous metals, etc.
Most of the products
are sourced from China. It is therefore,
Mr. Surinder Singh Pahil is in China most of the time. He can be reached at his China mobile phone
86-1392 8272 930.
Most of the
commodities are exported to India and the other Asian countries. Business is normal.
According to the
subject, it is able to maintain its business steady as regular suppliers and
foreign customers have been maintained.
The history of the
subject in Hong Kong is over eleven years.
On the whole,
consider the subject good for normal credit requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.