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MIRA INFORM REPORT
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Report No. : |
485175 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
KMC TRADING COMPANY LIMITED |
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Registered Office : |
Room 1601, 16/F., Winfull Commercial Building, 172-176 Wing Lok Street,
Sheung Wan |
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Country : |
Hongkong |
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Date of Incorporation : |
29.07.2010 |
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Com. Reg. No.: |
52696138 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Dried Aquatic
Products. |
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No. of Employees : |
3 |
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
KMC TRADING COMPANY
LIMITED
ADDRESS: Room 1601, 16/F., Winfull
Commercial Building, 172-176 Wing Lok Street, Sheung Wan, Hong Kong.
PHONE: 852-2291
0085
FAX: 852-2291
0096
E-MAIL: fattaje2001@gmail.com
MANAGEMENT
Managing Director:
Mr. Mohsin Javid Fatta
SUMMARY
Incorporated on: 29th July, 2010.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room 1601, 16/F., Winfull Commercial Building, 172-176
Wing Lok Street, Sheung Wan, Hong Kong.
Associated Company:-
KMC Enterprise, India.
BUSINESS
REGISTRATION NUMBER
52696138
COMPANY
FILE NUMBER
1486658
MANAGEMENT
Managing Director:
Mr. Mohsin Javid Fatta
(Hong Kong mobile phone:
852-6094 6255)
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 29-07-2017)
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Name |
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No. of shares |
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Javid Ebrahim FATTA |
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5,000 |
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Mohsin Javid FATTA |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 29-07-2017)
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Name (Nationality) |
Address |
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Javid Ebrahim FATTA |
Flat G, 55/F., Tower 8, Carribean Coast, 1 Kin Tung
Street, Tung Chung, Lantau Island, Hong Kong. |
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Mohsin Javid FATTA |
Flat G, 55/F., Tower 8, Carribean Coast, 1 Kin Tung Street,
Tung Chung, Lantau Island, Hong Kong. |
SECRETARY
(As per registry dated 29-07-2017)
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Name |
Address |
Co. No. |
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Innovative Human Resources Outsourcing Partners Ltd. |
Unit 701, 7/F., On Hong Commercial Building, 145 Hennessy
Road, Wanchai, Hong Kong. |
1150948 |
HISTORY
The subject was
incorporated on 29th July, 2010 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at Flat C, 6/F., Kai Fat Building, 204‑210 Wing Lok
Street, Sheung Wan, Hong Kong, moved to the present address in December 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 dried aquatic products, etc.
Employees: 3.
Commodities Imported: Japan,
Southeast Asia, India, South America, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made
small profits in past years.
Condition: Business
is normal.
Facilities: Making
rather active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000
ordinary shares of HK$1.00 each, KMC Trading Company Limited is equally owned by
Mr. Mohsin Javid Fatta and Mr. Javid Ebrahim Fatta. They are also directors of the subject. Being Hong Kong ID Card holders, they have
got the right to reside in Hong Kong.
Mohsin Javid Fatta
can be reached at his Hong Kong mobile phone number 852-6094 6255.
The subject moved to
the present address in December 2012.
The subject is a
dried aquatic product trader. The two shareholders have over 30 years of
experience in this industry.
The subject is
specialized in sourcing fish maws, shark fin and various kinds of other dried
seafood. The subject is one of the
leading importers and exporters of dried seafood in Hong Kong. Its customers include wholesalers, retailers,
and restaurants in China, Hong Kong and Macau. It imports dried seafood
directly from India, Bangladesh, Pakistan, Sri Lanka, the Middle-East,
Indonesia, South Africa, Latin America, Australia and New Zealand.
According to the
subject, it is carrying the following commodities:
beche de mer, conger
cinereus, croaker fish, otolithoides biauritus, palynemus tetradactylum,
protonibea diacanthus, dried fish maws such as cat fish maws, dara fish maws,
eel fish maw, ghol fish maws, ling fish maws, nile perch maws, dried sea
cucumber, vam fish maws, dried shark fins, Indian salmon and all other types of
dry fish, crabs, live lobsters, abalone, etc.
The two shareholders,
both of whom are Indian, belong to the Fatta family.
The subject has had
an associated company KMC Enterprise which is in India. The subject and KMC Enterprise are engaged in
the same lines of business, more or less.
The history of the
subject in Hong Kong is over seven years and five months.
On the whole,
consider it good for normal business engagements in moderate credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.74 |
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1 |
INR 86.01 |
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Euro |
1 |
INR 76.14 |
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HKD |
1 |
INR 8.13 |
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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NIS |
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Report Prepared
by : |
NIT |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.