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MIRA INFORM REPORT
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Report No. : |
486077 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
5C HONG KONG LIMITED |
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Registered Office : |
Unit 05, 14/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
31.03.2006 |
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Com. Reg. No.: |
36760743 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Jewellery and Diamond
Products. |
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No. of Employees : |
5 |
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
5C HONG KONG LIMITED
ADDRESS: Unit
05, 14/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2627
0099
FAX: 852-2311
3810
E-MAIL: 5chk@5c-jewelry.com
MANAGEMENT
Managing Director:
Mr. Anuj Jasani
SUMMARY
Incorporated on: 31st March, 2006.
Organization: Private Limited Company.
Issued Share Capital: US$1,000,000.00
Business Category: Diamond
Trader.
Employees: 5.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit 05, 14/F., Peninsula Square, 18 Sung On Street,
Hunghom, Kowloon, Hong Kong.
Associated
Companies:-
5C Shanghai Co. Ltd., China.
5C-Jewelry BVBA, Belgium.
BUSINESS
REGISTRATION NUMBER
36760743
COMPANY
FILE NUMBER
1035173
MANAGEMENT
Managing Director:
Mr. Anuj Jasani
ISSUED
SHARE CAPITAL
US$1,000,000.00
SHAREHOLDER
(As per registry dated 31-03-2017)
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Name |
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No. of shares |
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Anuj JASANI |
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1,000,000 ======= |
DIRECTOR
(As per registry dated 31-03-2017)
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Name (Nationality) |
Address |
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Anuj JASANI |
Flat A, 5/F., Monmouth Villa, 3 Monmouth Terrace,
Wanchai, Hong Kong. |
SECRETARY
(As per registry dated 31-03-2017)
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Name |
Address |
Co. No. |
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View Well Corporate Services Lrd. |
Room 601, 6/F., Albion Plaza, 2-6 Granville Road,
Tsimshatsui, Kowloon, Hong Kong. |
0709977 |
HISTORY
The subject was incorporated
on 31st March, 2006 as a private limited liability company under the Hong Kong
Companies Ordinance.
Formerly the subject
was located at Flat A, 16/F., United Centre, 95 Queensway, Hong Kong,
moved to ‘Room 801, 8/F., Chuang’s Hunghom Plaza, 83 Wuhu Street, Hunghom,
Kowloon, Hong Kong’ with effect from 8th April, 2008. It moved to the present address in June 2016.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of jewellery and diamond products.
Employees: 5.
Commodities Imported: Belgium,
India, South Africa, Israel, etc.
Markets: Hong
Kong, US, India, China, other Asian countries.
Terms/Sales: CAD, L/C or as per contracted.
Terms/Buying: L/C, T/T, O/A, etc.
FINANCIAL
INFORMATION
Issued Share Capital: US$1,000,000.00
Indebtedness: US$3,000,000 (Total amount outstanding on all
mortgages and charges as per last
Annual Return
dated 31-03-2017)
Mortgage or Charge:-
Date of Debenture:
10-10-2008
Amount: General banking facilities
Property: All the Company’s undertaking and
property and assets
Mortgagee: ABN AMRO Bank N.V., Hong Kong
Branch.
Profit or Loss: Making
small profits in past years.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met as trade commitments as required.
Commercial Morality:
Satisfactory.
Bankers:-
The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
ABN AMRO Bank N.V.,
Hong Kong Branch.
Standing: Normal.
GENERAL
Having issued one
million ordinary shares of US$1.00 each, 5C Hong Kong Limited is now
wholly-owned by Mr. Anuj Jasani. Jasani
is a Hong Kong ID Card holder and has got the right to reside in Hong
Kong. He is also the only director of
the subject.
The subject has had a
main associated company in Belgium known as 5C-Jewelry BVBA [5C-Jewelry].
The subject and
5C-Jewelry are engaged in the same lines of business. Both are diamond jewellery traders.
The subject belongs
to the 5C Group. Besides the subject,
5C-Jewelry has had a branch company in Shanghai, China.
Formerly Jasani had
resided in Shanghai, China. He moved to
Hong Kong in 2009. He had managed the
business of 5C Shanghai, China for a rather long time.
5C-Jewelry is a
manufacturer of fine diamond and gemstone jewellery. It has varieties of products such as the
following:
Rings, gold bracelets,
pendants, earrings, necklaces, 18K diamond pendants, diamond brooch, etc.
The subject also
offers clients with OEM services. Its
products are marketed in Hong Kong, exported to the other Asian countries,
Europe, North America, etc.
5C-Jewelry is a
manufacturer and wholesale distributor of diamonds, diamond jewellery, and
fashion jewellery, with production plants in Europe and Asia. Its famous products are the following
finished jewellery:-
· Gold Jewellery
· 24K Gold Jewellery
· Platinum Jewellery
· Pt 950 Platinum Jewellery
· Diamond Jewellery
· White Diamond Jewellery
· Colour Diamond Jewellery
Based in Antwerp,
Belgium, 5C-Jewelry concentrates on medium- to high-end 18K gold or platinum
daytime diamond jewellery.
5C-Jewelry sells all
types of jewellery but more rings and pendants.
The Group does a lot
of pavĆŮm diamonds and centre stones from 20 points to one carat. Its popular model was a diamond ring with a
solitaire diamond and pavĆŮm diamonds down the sides.
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 has taken part in The World
Watch and Jewellery Show which is held in April every year in Birmingham or
London, the United Kingdom.
For instance, it is
going to take part in “HKTDC Hong Kong International Jewellery Show 2018” which
will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 1st to 5th March, 2018.
Its booth No. is CEC 3D-E09.
The subject is
chiefly administered by Jasani himself.
Business is normal.
The history of the
subject in Hong Kong is over eleven years and nine months. Regular customers
and suppliers have been maintained.
On the whole, consider
the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.41 |
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1 |
INR 87.18 |
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Euro |
1 |
INR 77.45 |
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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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PRA |
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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.