|
|
|
MIRA
INFORM REPORT
|
Report No. : |
489587 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
M B IMPEX LIMITED |
|
|
|
|
Registered Office : |
Unit 8, 10/F, Guard force Centre, 3 Hok
Yuen Street East, Hunghom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
15.12.2011 |
|
|
|
|
Com. Reg. No.: |
59260530 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All
Kinds of Diamonds and Jewellery |
|
|
|
|
No. of Employees : |
5. (Including
associate) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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, which took effect in 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
|
Source
: CIA |
Note
Wrong spelling of ‘Guard Force Centre’
submitted.
Company name and address
M B
IMPEX LIMITED
ADDRESS: Unit 8, 10/F, Guard force Centre, 3 Hok
Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2994 8832
FAX: 852-2311
3443
E-MAIL: mbimpex@netvigator.com
MANAGEMENT:
Managing Director: Mr. Manishkumar Savjibhai Patel
SUMMARY
Incorporated on: 15th
December, 2011.
Organization:
Private Limited
Company.
Issued Share Capital: HK$10,000,000.00
Business Category: Diamond and Jewellery Trader.
Annual Turnover: HK$100~150
million.
Employees:
5. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 8, 10/F, Guard force Centre, 3 Hok Yuen
Street East, Hunghom, Kowloon, Hong Kong.
Associated Companies:-
D. Goldi BVBA, Belgium.
Jewel Goldi (India), India.
M B Impex, Hong Kong. (Same address)
Nomads Diam Ltd., Hong Kong.
R. Goldi
(Shanghai) Diamond Co. Ltd., China.
R. Goldi Diamond (Shanghai) Co. Ltd., China.
S. Goldi (Asia) Ltd., Hong Kong. (same address)
S.Goldi, Hong Kong. (same address)
Shree Ramkrishna Export Pvt. Ltd., India.
The Jewelry
Co., India.
TJC Jewelry
Inc., US.
V. Goldi Ltd.,
Israel.
etc.
BUSINESS REGISTRATION NUMBER
59260530
COMPANY FILE NUMBER
1690737
MANAGEMENT
Managing Director: Mr. Manishkumar Savjibhai Patel
ISSUED SHARE CAPITAL
HK$10,000,000.00
SHAREHOLDER
(As per registry dated 15-12-2017)
|
Name |
|
No. of shares |
|
Manishkumar Savjibhai PATEL |
|
10,000,000 ======== |
DIRECTOR
(As per registry dated 15-12-2017)
|
Name (Nationality) |
Address |
|
Manishkumar Savjibhai PATEL |
Flat A, 10/F., Tower 15, Laguna Verde Costa
Del Sol, 8 Laguna Verde Avenue, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 15-12-2017)
|
Name |
Address |
Co. No. |
|
CBest Solutions Ltd. |
Suite 2307, 23/F., Enterprise Square Three,
39 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong. |
1295959 |
HISTORY
The subject was incorporated on 15th
December, 2011 as a private limited liability company under the Hong Kong
Companies Ordinance.
The subject moved to the present address in
September 2012.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of diamonds
and jewellery, etc.
Employees: 5.
(Including associate)
Commodities Imported: India, Europe, US, etc.
Markets: Hong Kong, South Asian countries,
Europe, US, etc.
Annual Turnover: HK$100~150 million.
Terms/Sales:
CAD, L/C, T/T, etc.
Terms/Buying:
L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewelry Manufacturers’ Association,
Hong Kong.
Hong Kong Jewellery & Jade Manufacturers
Association, Hong Kong.
FINANCIAL INFORMATION
Issued Share Capital: HK$10,000,000.00
Profit or Loss: Made small
profits in past years.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment:
Slow but
Correct.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Hang Seng Bank Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Having issued 10 million ordinary shares of HK$1.00 each, M B
Impex Limited is wholly owned by Mr. Manishkumar Savjibhai Patel [M S Patel]
who is an India merchant. He is a
Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
The subject is a jewellery and diamond trader. It has had an associated company M B Impex
located at its operating address. This
firm is also operated and owned by M S Patel.
M B Impex was established in 1997.
It is trading in polished and cut diamonds and jewellery in Hong Kong.
M B Impex has been a diamond manufacturer and wholesaler since
establishment. It is engaged in the
diamond jewellery production, and now it is specialised in all sizes of baggat
jewellery, micro pave, fancy shape jewellery.
All the products bear the brand name MB.
Most of its products are marketed in Hong Kong and China, exported
to Europe, the United States, and some of the South Asian countries. Business is normal.
M B Impex has had an in-house design team who is able to create
over a thousand innovative designs. The
products include rings, earrings, pendants, bracelets and necklaces which are
set in 18K gold and platinum with diamonds and gemstones. Also, M B Impex produces ODM products
according to the requirements of its customers.
The followings are the main products of the subject in detail:-
Diamond Jewellery
·
Colour Diamond
Jewellery (such as Bi-colour diamond ring);
·
White Diamond
Jewellery (such as diamond ring, micro-set diamond ring).
Gem Set Jewellery
·
Emerald
Jewellery;
·
Ruby Jewellery;
&
·
Sapphire
Jewellery.
Gold Jewellery
·
18K Gold
Jewellery (such as 18K white gold Onyx pendant).
Platinum Jewellery
·
Pt 900 Platinum
Jewellery.
M B Impex has been actively participating in major international
jewellery shows.
In order to penetrate the international market further, the
subject has taken part in fairs and exhibitions held in Hong Kong and other
foreign large cities.
For instance, it is going to take part in “HKTDC Hong Kong
International Diamond, Gem & Pearl Show 2018” which will be held in Hong
Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 27th February to
3rd March, 2018.
The annual sales turnover of the subject and M B Impex ranges from
HK$100 to 150 million. Overall business
is normal.
The history of the subject is over six years and a month while the
history of M B Impex is over twenty years.
Business is chiefly handled by M S Patel.
On the whole, consider the subject good for normal business
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.14 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
|
HKD |
1 |
INR 8.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.