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MIRA INFORM REPORT
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Report No. : |
495102 |
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Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
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Name : |
K.V. IMPEX |
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Registered Office : |
Room 608, 6/F., Guardforce Centre, 3 Hok Yuen Street, Hung Hom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.10.1996 |
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Com. Reg. No.: |
20291914-000-10 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds and Jewellery 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 : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Small Company |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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Hong Kong |
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 |
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.
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Source
: CIA |
Company
name & address
K.V. IMPEX
ADDRESS: Room 608, 6/F.,
Guardforce Centre, 3 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 852-2186
8785, 2367 1373, 2367 1450
FAX: 852-2367 1511
MANAGEMENT
Manager: Ms. Rekha Daga
SUMMARY
Establishment: 22nd October, 1996.
Organization: Sole Proprietorship.
Capital: Not disclosed.
Business Category: Precious
Stone Trader.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
K.V. IMPEX
ADDRESS
Head Office:-
Room 608, 6/F., Guardforce Centre, 3 Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong.
Associated
Company:-
Beauty Gems
Room 908, 9/F., Multifield Plaza, 3-7A Prat Avenue, Tsimshatsui,
Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
20291914-000-10
MANAGEMENT
Manager: Ms. Rekha Daga
SOLE
PROPRIETOR
Name: Ms. Rekha DAGA
Residential Address: Flat C,
4/F., Houng Sun Building, 45-47 Carnarvon Road, Tsimshatsui, Kowloon, Hong
Kong.
HISTORY
The subject was established on 22nd October, 1996 as a sole
proprietorship concern owned by Mr. Rekha Daga under the Hong Kong Business
Registration Regulations.
Initially the subject was located at Flat C, 4/F., Houng Sun Building,
45‑47 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong, moved to
‘Flat C, 12/F., Mass Resources Development Building, 12 Humphrey’s Avenue,
Tsimshatsui, Kowloon, Hong Kong’ in February 2007, and further moved to the
present address in April 2014.
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 products.
Employees: 3.
Commodities Imported: India,
Europe, etc.
Markets: Hong
Kong, China, Japan, India, Southeast Asia, Europe, Middle East, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL
INFORMATION
Capital: Not
disclosed.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making quite active use of
general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Bankers:- The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Hang Seng Bank
Ltd., Hong Kong.
Standing: Small.
GENERAL
K.V. Impex is a sole proprietorship set up on and owned by Ms. Rekha Daga
who is an India merchant. She is a Hong
Kong ID Card holder and has got the right to reside in Hong Kong.
She has been in Hong Kong for a very long time as she has got her
Hong Kong ID before setting up the subject.
The subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds
like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05
cts to 0.60 cts.
The subject is dealing in fine coloured diamonds, loose diamonds and
rare gem stones. Products include fancy
coloured diamonds, unusual rose cut and briolette cut diamonds. Commodities are imported from India, Belgium
and other European countries, etc. Some
of the rough diamonds are polished, cut or processed in Hong Kong or
China. Finished products and polished
diamonds are exported to Japan, other Asian countries, Europe, the Middle East,
etc. Overall business is satisfactory.
The subject moved to the present office in April 2014. It shares the same office with Jin Gems which
is also a diamond trader.
Established on 19th June, 1991, Jin Gems is a sole proprietorship set up
and owned by Mr. Rajendra Kumar Daga who is an Indian. Rajendra Kumar Daga and Rekha Daga belong to
the same family.
Besides operating the subject, Rekha Daga is also a partner of another
diamond trading company Beauty Gems.
Beauty Gems was established on 11th October, 1999 as a partnership
jointly owned by Mr. Harinarayan Khaton Anilkumar and Ms. Rekha Daga under the
Hong Kong Business Registration Regulations.
The business of the subject is chiefly handled by Rekha Daga
himself. Regular suppliers and foreign
customers have been maintained.
As the history of the subject in Hong Kong is over 21 years and four
months, on the whole, consider it 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 64.99 |
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1 |
INR 89.91 |
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Euro |
1 |
INR 80.21 |
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HKD |
1 |
INR 8.29 |
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 : |
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
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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.