MIRA INFORM REPORT
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Report No. : |
347705 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOWLOON TRADING CO |
|
|
|
|
Registered Office : |
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL |
|
|
|
|
Country : |
Hong Kong |
|
|
|
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Date of Incorporation : |
01.05.1987 |
|
|
|
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Com. Reg. No.: |
10973982 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Trading of Gems |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
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Payment Behaviour : |
Unknown |
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|
|
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Contact Points
|
Company Name: |
|
|
Supplied Name: |
KOWLOON TRADING CO |
|
Trading Address: |
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong
Kong |
|
Supplied Address: |
FI F 14/F, FAR EAST MANSION 5-6 MIDDLE ROAD, TSK KOWLOON |
Notes: The exact name and
address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
Flat/Rm F 14/F Far East Mansion 5-6 Middle
Road Tsimshatsui KL Hong Kong |
|
Telephone Number: |
+852-2722-5540 |
|
Fax Number: |
+852-2311-4456 |
|
Date of Registration: |
1987-5-1 |
|
Business Registration No.: |
10973982 |
|
Registered Capital: |
N/A |
|
Legal Form: |
Proprietorship |
|
SITC Code: |
66729--Diamonds, non-industrial, otherwise worked, but not mounted or
set (cm) |
|
Principal Activities: |
Trading of gems. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
History
Subject was incorporated on 1987-5-1 with the Business Registration No.:
10973982 as Proprietorship in Hong Kong.
Corporate Structure
Subject did not introduce whether it has any
subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Owner
|
Name: |
Agrawal, Anil |
|
Address: |
Flat/Rm F, 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong
Kong |
|
Position: |
Owner |
|
ID Number: |
P1596148 |
|
Date of Appointment: |
1987-5-1 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong
Kong |
Premises Information
Office address:
|
Address: |
Flat F On 14th Floor Far East Mansion Nos.5-6 Middle Road Kowloon |
|
Owners: |
Agarwal Ritu (Joint Tenant) |
|
Memorial Number: |
11040702330222 Assignment |
|
Date of Instrument: |
2011-3-11 |
|
Date of Registration: |
2011-4-7 |
|
Consideration Value: |
HKD 4,625,000.00 |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
11040702330237 |
|
Date of Instrument: |
2011-3-11 |
|
Date of Registration: |
2011-4-7 |
|
Nature: |
Mortgage |
|
In Favor of: |
Dah Sing Bank Limited |
|
Consideration: |
All Moneys |
|
2 |
|
|
Memorial No.: |
11020902310342 |
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Date of Instrument: |
2011-1-14 |
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Date of Registration: |
2011-2-9 |
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Nature: |
Agreement For Sale And Purchase |
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In Favor of: |
Agrawal Anil (Joint Tenant) Agarwal Ritu (Joint Tenant) |
|
Consideration: |
HKD 4,625,000.00 |
|
3 |
|
|
Memorial No.: |
11050302590671 |
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Date of Instrument: |
2011-3-11 |
|
Date of Registration: |
2011-5-3 |
|
Nature: |
Partial Release |
Production Information
The subject is a trader of gems and etc without any production
activities.
Purchase Information
It is introduced that subject purchases its products both at home and
abroad.
It is introduced that subject imports diamonds from India.
Sales Information
The subject is mainly engaged in sales of gems.
Subject’s products include loose diamonds and other gems (such as ruby).
Subject’s selling territory includes Asia.
Subject’s major customers are manufacturers and designers of jewelry,
watch.
Settlements
Purchase
Domestic Purchase
|
Products |
Gems |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Gems |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Gems |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Gems |
|
Selling Terms |
L/C, T/T |
Financial Information
The subject has no obligation to supply its financial
statement to the third party according to the relevant policy in Hong Kong and
the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Anil rejected to disclose the financial
information, from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
|
2012-5-12 |
|
|
Court Name: |
High Court Civil Action |
|
Court No.: |
779 |
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Claimant: |
Kowloon Trading Co (a firm) c/o Stevenson, Wong & Co (a firm) |
|
Defendant: |
Dynasty Jewelry (Hong Kong) Ltd c/o Suite 3007-8, Tower 1, The Gateway, Harbour City, Tsim Sha Tsui, Kln |
|
Reason: |
Debt Tort |
Note: According to company’s keyword, we supplied the Civil Litigation
Information as above for reference. We make no warranty as to the accuracy or
completeness of this part information.
Mortgage Record
No mortgage records of subject were found.
Special Note
Interview Details
|
Name |
Mr. Anil |
Industry Information
66729--Diamonds,
non-industrial, otherwise worked, but not mounted or set (cm)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value
|
|
Imports |
||||
|
United Arab
Emirates |
99,460 |
905,159 |
647,153 |
5,464,977 |
|
Switzerland |
6,409 |
199,072 |
48,333 |
1,399,228 |
|
Israel |
53,917 |
1,623,498 |
304,676 |
9,093,356 |
|
USA |
282,887 |
1,883,967 |
993,454 |
6,852,878 |
|
Belgium |
110,151 |
1,638,056 |
561,647 |
8,625,638 |
|
Thailand |
99,160 |
492,720 |
388,041 |
1,822,712 |
|
Japan |
56,719 |
371,240 |
236,575 |
1,664,163 |
|
Italy |
3,244 |
20,309 |
13,350 |
96,012 |
|
India |
955,874 |
5,467,092 |
5,645,538 |
30,408,178 |
|
The Mainland of
China |
105,388 |
880,886 |
559,342 |
4,632,952 |
|
Exports |
||||
|
United Arab
Emirates |
88,055 |
792,393 |
637,402 |
5,288,342 |
|
India |
263,998 |
1,825,623 |
1,829,493 |
10,136,195 |
|
America |
110,964 |
1,103,321 |
708,067 |
6,949,687 |
|
20,684 |
146,991 |
139,735 |
1,039,637 |
|
|
Thailand |
93,610 |
421,965 |
493,269 |
1,816,612 |
|
107,387 |
1,236,704 |
577,229 |
6,950,409 |
|
|
The Mainland of
China |
256,037 |
1,335,949 |
1,563,439 |
8,246,408 |
External
Trade Information:
External
Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change
of Total exports |
Merchandise
trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
We made an on-site visit to the supplied address, and found the subject
was at this location, however, the subject didn’t has name plate on the wall.
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong Kong
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong Kong
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong Kong
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong Kong
Flat/Rm F 14/F Far East Mansion 5-6 Middle Road Tsimshatsui KL Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
NIT |
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 |
|
|
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.