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Report No. : |
345482 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SRK BEARING INDUSTRIES (HK) LIMITED |
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Formerly Known As : |
WINNERS INTERNATIONAL ( |
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Registered Office : |
C/o Multi-Chain Ltd. Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Central |
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Country : |
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Date of Incorporation : |
11.03.2004 |
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Com. Reg. No.: |
34367012 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of |
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No. of Employees : |
No Employees In NOTE: It is to be noted that the company does not have its
own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office In Hong |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
WINNERS INTERNATIONAL
(HONG KONG) LTD.
Registered Office:-
c/o Multi-Chain Ltd.
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Central,
Hong Kong.
Shanghai Office :-
Suite 309, Block 5, Lane 28, Danba Road, Putuo District, Shanghai, China.
[Tel: +86-21-60837200
Fax: +86-21-60837202
Mobile: +86-13601711380]
Associated Companies:-
Winners Exports Pvt. Ltd., India.
Winners Global Resources Inc., US.
34367012
0888371
11th March, 2004.
HK$800,000.00
(As per registry
dated 11-03-2015)
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Name |
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No. of shares |
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Tapan Kumar GADODIA |
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799,999 |
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Lavina GADODIA |
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1 |
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––––––– |
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Total: |
800,000 ====== |
(As per registry
dated 11-03-2015)
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Name (Nationality) |
Address |
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Tapan Kumar GADODIA |
#15-2602, Oasis Riviera, 833 Lane, Shui Cheng Road, Chang Ning,
Shanghai 200 336, China. |
(As per registry dated
11-03-2015)
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Name |
Address |
Co. No. |
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Multi-Chain Ltd. |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong
Kong. |
0209214 |
Winners International (Hong Kong) Ltd. was incorporated on 11th March, 2004
as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at ‘Room 301, 3/F., Kam On Building, 176A Queen’s Road Central,
Hong Kong’ known as ‘Multi-Chain Ltd.’ which is handling its correspondences
and documents. Multi-Chain Ltd is also
the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
800,000 ordinary shares of HK$1.00 each of which 799,999 shares are owned by
Mr. Tapan Kumar Gadodia while the other share is owned by his wife
Mrs. Lavina Gadodia.
The former 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.
Currently the couple is residing in Shanghai, China.
The main office of the subject is in China.
Your given China mobile phone number 86-1880 2151 133 belongs to Tapan
Kumar Gadodia. The subject is trading in
the following commodities:-
·
Ores – Iron, Manganese, Chrome; other products such
as graphite, met coke, Ferro-alloys and recarburizer, etc.
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Marketing Iron and Steel products.
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Scrap Metals – Mill Scale, Steel Scrap, Fines and
Pellets, etc.
The subject has been set up in order to take full advantage of the ore,
metals and minerals trade between four business giants -- China, India, the
United States and Brazil. The subject acts
as a bridge between these four countries.
The subject is a buyer, a seller, a supplier and a customer on all these
four markets.
The subject’s business in China is chiefly handled by the couple.
The subject’s business in Hong Kong is not active. History in Hong Kong is over eleven years and
three months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE :
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.15 |
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1 |
Rs.100.54 |
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Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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.