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MIRA INFORM REPORT
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Report No. : |
499312 |
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Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
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Name : |
PANSURIYA IMPEX (HK) LIMITED |
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Registered Office : |
Room 1201, 12/F., Chaveliar House, 45-51 Chatham Road South,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.06.2010 |
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Com. Reg. No.: |
52428313 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Diamonds. |
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No. of Employees : |
4 |
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 : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
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
PANSURIYA IMPEX (HK) LIMITED
ADDRESS: Room 1201, 12/F., Chaveliar House, 45-51
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2722 1919,
3102 4333
FAX: 852-2722 1909
E-MAIL: hk@pansuriyaimpex.com
MANAGEMENT
Managing Director: Mr. Nikhil
Keshav Pansuriya
SUMMARY
Incorporated on: 10th June, 2010.
Organization: Private Limited Company.
Issued Share Capital: HK$6,000,000.00
Business Category: Diamond
Trader.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
PANSURIYA IMPEX (HK) LIMITED
ADDRESS
Registered Head
Office:-
Room 1201, 12/F., Chaveliar House, 45-51 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong.
Associated
Company:-
Pansuriya Impex, India.
BUSINESS
REGISTRATION NUMBER
52428313
COMPANY
FILE NUMBER
1467082
MANAGEMENT
Managing Director: Mr. Nikhil
Keshav Pansuriya
(Hong Kong Mobile: 852-6589 9000)
Contact Person: Mr. Dharmesh
Danny
ISSUED
SHARE CAPITAL
HK$6,000,000.00
SHAREHOLDERS
(As per registry dated 10-06-2017)
|
Name |
|
No. of shares |
|
Nikhil Keshav PANSURIYA |
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5,356,000 |
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Kruti Nikhil PANSURIYA |
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644,000 |
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–––––––– |
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Total: |
6,000,000 ======= |
DIRECTOR
(As per registry dated 10-06-2017)
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Name (Nationality) |
Address |
|
Nikhill Keshav PANSURIYA |
Flat A, 16/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 10-06-2017)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong
Kong. |
0113023 |
HISTORY
The subject was incorporated on 10th June, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
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.
Employees: 4.
Commodities Imported: India, other
Asian countries, etc.
Markets: Hong
Kong, other Asian countries, etc.
Terms/Sales: COD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, Advance Payment,
etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$6,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Made
small profits in past years.
Condition: Business
keeps on improving.
Facilities: Making
fairly active use of general banking facilities.
Payment: Slow but correct.
Commercial Morality: Satisfactory.
Bankers:- The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
DBS Bank (Hong Kong) Ltd.,
Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 6 million ordinary shares of HK$1.00 each, Pansuriya Impex
(HK) Limited formerly was jointly owned by Nikhil Keshav Pansuriya [N K
Pansuriya], holding 89.3%; Pankajkumar Punabhai Rangani, 10.7%. In mid-2016, the smaller shareholder was
replaced by Kruti Nikhil Pansuriya who is a family member of N K Pansuriya.
The managing director N K Pansuriya is a Hong Kong ID Card holder and
has got the right to reside in Hong Kong permanently. He can be reached at his Hong Kong mobile
phone number 852-6589 9000.
The subject is trading in GIA and IGI certified diamonds. It is specialized in Loose Diamonds including
Fancy Colour Diamonds, Fancy Shape Diamonds.
Its diamonds range from 0.30 to 5+ carats, from D to Z colours.
The subject has had an associated company Pansuriya Impex in India which
has more than 40 years of experience in the field of rough and polished
diamonds. Since 1972 the India firm is
engaged in diamonds manufacturing, importing and exporting. The head office of Pansuriya Impex is in
Surat, India. In 2000, the India firm
set up an office in Mumbai, India, and in May 2010 set up the subject in Hong
Kong. Now, the office in Mumbai has
become the head office of Pansuriya Impex and the company in Surat is the
factory.
Most of the commodities of the subject are imported from India, the
other Asian countries, Europe, etc.
Finished products such as cut and polished diamonds are marketed in Hong
Kong or re‑exported to China, the other Asian countries, Europe, North
America, etc.
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 such as Las Vegas which is in the United States.
For instance, it took part in “HKTDC Hong Kong International Diamond,
Gem & Pearl Show 2018” which had been held in Hong Kong AsiaWorld-Expo,
Lantau, Hong Kong during the period of 27th February to 3rd March, 2018. Its booth No. was AWE 5-C02.
The subject operates from its own premises in Hong Kong.
As the history of the subject in Hong Kong is over seven years and nine
months, 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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14-11-2017 |
Mortgaage |
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong. |
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14-11-2017 |
Rent Assignment |
Industrial & Commercial Bank of China (Asia) 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 65.13 |
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|
1 |
INR 91.95 |
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Euro |
1 |
INR 80.34 |
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HKD |
1 |
INR 8.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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
·
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.