|
|
|
MIRA INFORM REPORT
|
Report No. : |
490632 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DYNAMIC INTERNATIONAL |
|
|
|
|
Registered Office : |
Room 901, 9/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East, Hunghom,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
02.06.1987 |
|
|
|
|
Com. Reg. No.: |
11054391-000-06 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds, Gemstones. |
|
|
|
|
No. of Employees : |
3 |
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. In
2017, Chief Executive Lam announced plans to increase government spending on
research and development, education, and technological innovation with the aim
of spurring continued economic growth through greater sector diversification.
|
Source
: CIA |
Company
name & address
DYNAMIC INTERNATIONAL
ADDRESS: Room 901, 9/F., Heng Ngai Jewelry Centre,
4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2722 6651,
2312 0826
FAX: 852-2367 6755
E-MAIL: sales@dynamicinternational.biz
ashu@dynamicinternational.biz
dynamicintl@hotmail.com
MANAGEMENT
Manager: Mr. Ashwani Kumar
Malpani
SUMMARY
Establishment: 2nd June, 1987.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Jewellery
Trader.
Annual Turnover: US$3.0~5.0 million.
Employees: 3.
Main Dealing Banker: Wing Lung
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
DYNAMIC INTERNATIONAL
ADDRESS
Head Office:-
Room 901, 9/F., Heng Ngai Jewelry Centre, 4 Hok Yuen Street East,
Hunghom, Kowloon, Hong Kong.
Affiliated
Companies:-
Dynamic International (Japan) Inc., Japan.
Malpani, Hong Kong. (Same
address)
Raja’s Empire Co. Ltd., Taiwan.
BUSINESS
REGISTRATION NUMBER
11054391-000-06
MANAGEMENT
Manager: Mr. Ashwani Kumar
Malpani
Contact Person: Ms. Ashu-Ashu
SOLE
PROPRIETOR
Name: Mr. Ashwani Kumar MALPANI
Residential Address: Flat B, 18/F.,
Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.
HISTORY
The subject was established on 2nd June, 1987 as a sole proprietorship
concern owned by Mr. Ashwani Kumar Malpani under the Hong Kong Business
Registration Regulations.
Initially the subject was located at Flat B, 18/F., Star Mansion, 3
Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat D, 9/F., Beauty
Mansion, 69-71A Kimberley Road, Tsimshatsui, Kowloon, Hong Kong in June 1988;
to Flat C3, 8/F., Block C, Hankow Centre, 1C Middle Road, Tsimshatsui, Kowloon,
Hong Kong in August 2002; to ‘Flat C2, 12/F., Block C, Hankow Centre, 1
Middle Road, Tsimshatsui, Kowloon, Hong Kong’ in February 2006, and
further moved to the present address in May 2017.
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, gemstones.
Employees: 3.
Commodities Imported: India,
Thailand, Europe, etc.
Markets: Japan,
South Africa, Thailand, US, Europe, Taiwan, etc.
Annual Turnover: US$3.0~5.0
million.
Terms/Sales: CAD, L/C, T/T, O/A, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Gemstone Manufacturers’ Association Ltd., Hong Kong.
FINANCIAL
INFORMATION
Capital: Not
disclosed.
Profit or Loss: Made
small profits in past years.
Condition: Keeping in a steady manner.
Facilities: Making active use of general
banking facilities.
Payment: Slow but correct .
Commercial Morality: Satisfactory.
Banker: Wing Lung Bank Ltd., Hong Kong.
Standing: Normal.
GENERAL
Dynamic International is a sole proprietorship set up and owned by
Mr. Ashwani Kumar Malpani [A K Malpani] who is an India merchant. He is also manager of the subject.
The subject is a family business of the Malpanis which was originated in
the city of Jaipur, India. The Malpanis
have been in this family business since the foundation of the city Jaipur. Mr. Girirajdasji Malpani ventured out of
Jaipur in 1959 by establishing a diamond company in Bombay, India.
A K Malpani started business of gemstones in Hong Kong in 1987 by
setting up the subject and was soon joined by his brother Rajesh Kumar Malpani
in 1989.
The Malpanis in Hong Kong can be reached at their Hong Kong mobile phone
number 852-9016 0540 and 852-9079 1701 respectively.
Besides, the subject has had an associated company known as Malpani, a
Hong Kong-registered company located at the same address. Malpani is also operated by Mr. A K
Malpani. Malpani is chiefly trading in
jewels, fancy diamonds, etc.
The subject is a loose diamond and 18K gold jewellery importer, exporter
and wholesaler. It has got an affiliated
company in Kofu, Japan, which was set up in 1990, followed by another firm in
Taipei, Taiwan in 1994.
Currently, the subject is manufacturing the following commodities
Diamonds, Gemstones & Jade, Sapphire, Ruby, Emerald, Semi-precious
Stones, etc.
Products are imported from or exported to Thailand, India, Burma, other
European countries, etc.
Besides, the subject also trades in Rings, Diamond Earrings, 18K Gold
and Diamond Bangles, Flat Cut Diamond Rings, Diamond Gold Rings, Flat Cut
Diamond Brooches, Diamond Gold Brooches, Flat Cut Diamond Necklaces, Flat
Diamond Rings, etc.
The subject’s prime markets are Japan, South Korea, South Africa,
Thailand, the United States, Europe, Taiwan, the Middle East, etc. Business is rather active.
The annual sales turnover of the subject ranges from US$3.0 to 5.0
million. Making a small profit every
year.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and other foreign
countries such as Japan, the United States, Switzerland, etc.
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. Its booth No. is AWE 5-J02.
The business of the subject is chiefly handled by A K Malpani.
On the whole, since the history of the subject in Hong Kong is over 30
years and eight months, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
HKD |
1 |
INR 8.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.