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MIRA INFORM REPORT
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Report No. : |
485423 |
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Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
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Name : |
KAM HAN
INDUSTRIAL LIMITED |
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Registered Office : |
Room 1012-1013, 10/F., Beverley Commercial Centre, 87-105 Chatham Road
South, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
03.04.1987 |
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Com. Reg. No.: |
10950556 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter; Transhipment Agent of Footwear, Footwear
machinery and equipment, Building Materials, Door Hardware. |
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No. of Employees : |
12. (Office Staff) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hongkong |
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONGKONG - 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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. 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.
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Source
: CIA |
Company
Name and address
KAM HAN INDUSTRIAL LIMITED
ADDRESS: Room 1012-1013, 10/F.,
Beverley Commercial Centre, 87-105 Chatham Road South,
Tsimshatsui,
Kowloon, Hong Kong.
PHONE: 852-2368
1383
FAX: 852-2368
2968
E-MAIL: kamhan@kamhan.com
MANAGEMENT
Managing Director:
Mr. Keshari Chand Chhajer
SUMMARY
Incorporated on: 3rd
April, 1987.
Organization: Private Limited Company.
Issued Share Capital: HK$3,000,000.00
Business Category: Importer
and Exporter; Transhipment Agent.
Annual Turnover: HK$20~40 million.
Employees: 12. (Office staff)
Main Dealing Banker: Indian
Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Head Office:-
Room 1012-1013, 10/F., Beverley Commercial Centre, 87-105
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
Mailing Address:-
P.O. Box 97732, Tsim Sha Tsui Post Office, Kowloon, Hong
Kong.
China Offices:-
Guangzhou Office
Wenzhou Office
Jinjiang Office
Affiliated/Associated
Companies:
DPR Moulds & Machineries
Pvt. Ltd., India.
Kam Han Shoe Industries J/V
Ltd., Bangladesh.
Kam Han Shoe Industries J/V
Ltd., Pakistan.
BUSINESS
REGISTRATION NUMBER
10950556
COMPANY
FILE NUMBER
0186156
MANAGEMENT
Managing Director: Mr.
Keshari Chand Chhajer
Contact Person: Mr. Rajendra Keshari Chand
Jain
ISSUED
SHARE CAPITAL
HK$3,000,000.00
SHAREHOLDERS
(As per registry dated 03-04-2017)
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Name |
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No. of shares |
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Keshari Chand
CHHAJER |
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2,250,000 |
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Rajendra Keshari
Chand JAIN |
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750,000 |
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–––––––– |
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Total: |
3,000,000 ======= |
DIRECTORS
(As per registry dated 03-04-2017)
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Name (Nationality) |
Address |
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Keshari Chand
CHHAJER (Indian) |
Flat Front, 8/F.,
39 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
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Rajendra Keshari
Chand JAIN (Indian) |
Flat Front, 8/F.,
39 Mody Road, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
Rajendra Keshari Chand JAIN (As per registry dated 03-04-2017)
HISTORY
The subject was
incorporated on 3rd April, 1987 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the
subject’s office was located at Flat B4, 8/F., Hong Yuen Court, 1-5 Tak Shing
Street, Tsimshatsui, Kowloon, Hong Kong, moved to Room 424, 4/F., Beverley
Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong
in early 1997 and further to Room 1012, 10/F. of the same building in mid-2008. The subject increased its floor space by
renting the neighbouring Room 1013 in January 2010.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer
and Exporter; Transhipment Agent.
Lines: Footwear,
Footwear machinery and equipment, Building Materials, Door Hardware.
Employees: 12. (Office staff)
Commodities Imported: Hong
Kong, China, Southeast Asia and Europe.
Markets: China,
India, Pakistan, Middle East, Europe, etc.
Annual Turnover: HK$20~40
million.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$3,000,000.00
Mortgage or Charge:
(See attachment)
Profit or Loss: Making
a small profit every year.
Condition: Keeping
in an active and satisfactory manner.
Facilities: Making active use of general
banking facilities.
Payment: Met as contracted.
Commercial Morality:
Satisfactory.
Bankers:-
Indian Overseas Bank,
Hong Kong Branch.
Credit Agricole Corporate
& Investment Bank, Hong Kong Branch.
Delta Asia Credit
Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
GENERAL
Kam Han Industrial
Limited was formed in 1987 as a small Indian firm engaged in importing and
exporting business. It is jointly owned
by two India merchants who have been in Hong Kong for a long time, namely,
Mr. Keshari Chand Chhajer, holding 75% interests, and Mr. Rajendra Keshari
Chand Jain, holding 25%.
In September 1998,
the subject’s issued share capital was increased from HK$1,000,000.00 to
HK$2,000,000.00, and in December 1999 further to HK$3,000,000.00.
According to the
subject, it commenced business in 1954 although it was incorporated in April
1987.
The subject is
trading in the following commodities:-
1.
All kinds
of Footwear
2.
Footwear
Machinery
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Stuck On Line/ Lasting Machine
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PU Machines
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PVC Series
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TPR Machines
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Rubber Sole Press Machine
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EVA Sheet Foaming Press
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Conveyors
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PVC Strap
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Rubber Vulcanised Shoes Production Line
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First Foaming Machine
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Auto EVA Hot & Cold Foaming Machine
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Slipper Machine
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Laser Marking Machine
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Sewing Machine for Moccasins
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Lining Ironing Machine
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Eyeleting Machine
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Cementing & Folding Machine
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Trimming Machine
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Insole Moulding Machine
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Speed Pairing Machine
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Thread Burner
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Grinding/ Roughing Machine
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Gluing Machine
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Sole Marking Machine
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UV Curing Machine
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High Frequency Machine
3.
Footwear
Moulds
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Safety Shoes Moulds
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Safety Shoes Moulds For Rotary Machine
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EVA Moulds
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PU Moulds
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TPR Moulds
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PVC Strap Moulds
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PVC Air Blowing Moulds
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Sheet Moulds
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Rubber Moulds
Besides, the subject
also trades in umbrella parts and complete umbrellas.
The subject also
offer clients with services such as regional sourcing services that varies from
Consulting to Matchmaking. Other
services offered include Export Agent, China Export Agent, Shipping Agent, etc.
Currently, the
subject has set up offices in Guangzhou and Wenzhou of China. These Offices are responsible for sourcing
commodities from China. Prime markets
are China, India, Pakistan, Bangladesh, the Middle East, Eastern Europe,
Africa, South America, and some of the Asian countries. The subject has established its agents in
these countries and areas.
The subject has had
its own factory in China.
Overall business of
the subject is active.
The subject has
developed business ties with a number of suppliers in China. Regular clients also have been maintained.
Since the past 6
years the subject has exported more than 200 footwear injection machines to
India and about 50 to Pakistan and we have our service and maintenance offices
in those countries. It has a joint
venture with a outsole mould factory in China,
It supplies to local Chinese factories and it exports its moulds.
The subject’s history
in Hong Kong is over thirty years and five months. Business is chiefly handled by the two
Indian. Annual sales turnover ranges
from HK$20 to 40 million.
The subject operates
from a rented office.
On the whole,
consider it good for normal business engagements.
MORTGAGE
OR CHARGE
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Date |
Description of Instrument |
Mortgagee |
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17-04-1991 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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06-07-1992 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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08-01-1993 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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02-02-1993 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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16-05-1995 |
Undertaking
Relating to Deposits FC
950281 for US$42,806 FD
950364 for HK$25,000 |
Indian Overseas Bank, Hong Kong Branch. |
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09-05-1997 |
Undertaking
Related to Deposits FC
970175 for US$32,259 |
Indian Overseas Bank, Hong Kong Branch. |
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12-06-2001 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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12-06-2001 |
Undertaking
Relating to Deposits FC
210996 for US$38,941 |
Indian Overseas Bank, Hong Kong Branch. |
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09-03-2010 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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08-06-2010 |
Undertaking
Relating to Deposits 2010 FD
107 1 for US$356,452 |
Indian Overseas Bank, Hong Kong Branch. |
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01-04-2011 |
Undertaking
Relating to Deposits |
Indian Overseas Bank, Hong Kong Branch. |
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08-04-2011 |
Mortgage |
Indian Overseas Bank, Hong Kong Branch. |
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28-04-2017 |
Mortgage |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.47 |
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1 |
INR 86.15 |
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Euro |
1 |
INR 75.92 |
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HKD |
1 |
INR 8.14 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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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.