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Report No. : |
344169 |
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Report Date : |
13.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TOP DRAGON INTERNATIONAL LTD. |
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Registered Office : |
Front Portion, 4/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.08.2006 |
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Com. Reg. No.: |
37053494 |
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Legal Form : |
Private Limited
Company |
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LINE OF BUSINESS : |
SUBJECT
IS TRADER OF ALL KINDS OF GEMSTONES |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% 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 |
TOP DRAGON
INTERNATIONAL LTD.
Front Portion, 4/F.,
Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2303 0064
FAX: 852-3743 6669
E-MAIL: enquiry@topdragonltd.com
Managing
Director: Mr. Rajesh Borar
Incorporated
on: 4th
August, 2006.
Organization: Private
Limited Company.
Issued Share
Capital: HK$10,000.00
Business Category: Gemstone trader.
Employee: 1.
Main Dealing
Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered Head Office:-
Front Portion,
4/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong
Kong.
37053494
1064680
Managing
Director: Mr. Rajesh Borar
HK$10,000.00
(As
per registry dated 04-08-2015)
|
Name |
|
No.
of shares |
|
Rajesh BORAR |
|
10,000 ===== |
(As
per registry dated 04-08-2015)
|
Name (Nationality) |
Address |
|
Rajesh BORAR |
H. No. 21, Ganesh Nagar, Moti Dungari
Road, Moti Doongari, Jaipur (Raj) India. |
(As
per registry dated 04-08-2015)
|
Name |
Address |
Co.
No. |
|
Lodestar
Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
The
subject was incorporated on 4th August, 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: Gemstone trader.
Lines: All kinds of gemstones
Employee: 1.
Commodities
Imported: India, Thailand, Sri-Lanka
Markets: Hong Kong, China, India, other
Asian countries
Terms/Sales: CAD
or as per contracted.
Terms/Buying: Various
terms.
Issued Share
Capital: HK$10,000.00
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.
Having
issued 10,000 ordinary shares of HK$1.00 each, Top Dragon International Ltd. is
wholly owned by Rajesh Borar 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
the only director of the subject.
The
registered address of the subject is located at ‘Front Portion, 4/F., Ocean
View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong’ where is a
residential building. The residential
building is not trespassed by outsiders.
The
subject is carrying the following precious and semi-precious stones:
Tourmaline, Aquamarine, Moonstone, Rhodolite, Iolite, Citrine.
It
also trades in the following gem stones: Amethyst, Rubylite, Green Amethyst,
Blue Topaz, Lemon Topaz, Smokey Topaz, Kunzite, Peridot, Morganite, Pink
Tourmalines, Amethyst, Pink Topaz, Emerald, Garnet, Lapis-lazuli, Ruby,
Sapphire, Rose Quartz.
Products
are imported from Thailand, Burma, Sri-Lanka, Kanchanapuri, etc. Products are marketed in Hong Kong, China and
exported to India, other Asian countries, Europ.
The
business of the subject is chiefly handled by Mr. Rajesh Borar. History in Hong Kong is over nine years and
two months.
On
the whole, consider the subject good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.73 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.73.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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 |
|
<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.