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Report No. : |
346641 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ARS TECHNOLOGIES |
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Registered Office : |
Unit H1, 12/F., Summit Building, 30 Man Yue
Street, Hunghom, Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
15.09.2010 |
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Com. Reg. No.: |
51920657-000-03 |
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Legal Form : |
Partnership. |
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Line of Business : |
Importer and exporter of all kinds of machines, machine parts. |
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No. of Employees : |
2 |
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 |
|
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 |
ARS TECHNOLOGIES
ADDRESS: Unit H1, 12/F., Summit Building, 30 Man Yue
Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2311 1256
E-MAIL: arstechnology@hotmail.com
MANAGEMENT:
Manager:
Mr. Sanjay Goyal
Establishment: 15th
March, 2010.
Organization:
Partnership.
Capital:
Not
disclosed.
Business Category: Importer and Exporter.
Employees:
2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Unit H1, 12/F., Summit Building, 30 Man Yue Street,
Hunghom, Kowloon, Hong Kong.
51920657-000-03
Manager:
Mr. Sanjay Goyal
Name:
Sanjay GOYAL
Residential Address: Room No. 27B E, Block Regal Court, Long Kou 8I Road, Tien Ha,
Guangzhou, China.
Name:
Mr. Nitin GUPTA
Residential Address: 4/610 Jawhar Nagar Jaupur, Raj, India.
The subject was established on 15th March,
2010 as a partnership concern jointly owned by Mr. Sanjay Goyal and Mr. Nitin
Gupta under the Hong Kong Business Registration Regulations.
At the very beginning, the subject was
located at Room D, 14/F., Winston Mansion, 121-123 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong, moved to Room D, 12/F., Union Mansion, 33-35 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong in June 2011, to Room 9C, 9/F.,
Windsor Mansion, 17 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong in November
2012 and further moved to the present address in December 2013.
Apart from these, neither material change nor
amendment has been ever traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of machines, machine parts.
Employees: 2.
Commodities Imported: China.
Markets: India,
other Asian countries.
Terms/Sales:
As per contracted.
Terms/Buying:
As per contracted.
Capital: Not
disclosed.
Profit or Loss: Made a small profit in 2014.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment:
No
Complaints
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Small.
ARS Technologies is a partnership jointly
owned by Mr. Nitin Gupta and Mr. Sanjay Goyal, both of whom are India merchants
while each of them is holding an India passport.
Mr. Nitin Gupta is responsible for the Hong
Kong business who can be reached at his Hong Kong mobile phone number 852-6648
3982. Most of the time, Mr. Sanjay Goyal
is in Guangzhou, Guangdong Province, China.
He can be reached at his China mobile phone number 86-1802 9347 898.
The subject is trading in the following
products:-
·
Machines;
·
Machine Spare Parts; &
·
Polished Spare Parts.
The subject is specialized in metal
processing machines and polishing spares business. It has been exporting more than 100 sets of
pipe mill, together with many slittering machine, BA (bright annealing ) lines,
rollers, rolling mills and polishing spares (such as flap-wheel, ramie wheel,
cloth & ramie wheel, cloth wheel and wax) to Indian market since 2006. It is enjoying good reputation in the Indian
market. The subject is trading in the
following products:
Machines
·
Pipe Polishing Machine
·
Sink Polishing Machine
·
Cold Rolling Machine
·
Tube Mill
·
Bright Anealing Line
·
Slittering Machine
Machine
Spares
·
Gearbox
·
Transformer
·
Solid Welder
·
Coiler
·
Decoiler
·
Reel Drum
Polishing
Spares
·
Flapwheel
·
Flapwheel 320#
·
Mixed Cloth Wheel
·
White Cloth Wheel
·
Scotch Brite
·
Green Ramie/Jute Wheel
·
Green Wax Red Wax
·
Wind Wheel
·
Yellow Ramie/Jute Wheel
Most of the machines and spare parts are
sourced from China. Business of the
subject is chiefly handled by the two partners.
History in Hong Kong is over five years and seven months.
On the whole, consider the subject good for
normal credit requirements in moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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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 |
|
|
-- |
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.