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MIRA INFORM REPORT
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Report No. : |
507324 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AANIVA HK LIMITED |
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Registered Office : |
12/F., Soho Tower, 25 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
21.08.2014 |
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Com. Reg. No.: |
63733581 |
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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 : |
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 : |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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 AND ADDRESS
AANIVA HK LIMITED
ADDRESS: 12/F., Soho Tower, 25 Hart Avenue,
Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-5600 0430, 3527 0409
FAX: 852-5600 4730
MANAGEMENT
Managing Director:
Mr. Puneet Kumbhat
SUMMARY
Incorporated on: 21st August, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Jewellery
and Diamond Trader.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
12/F., Soho Tower, 25 Hart Avenue, Tsimshatsui, Kowloon,
Hong Kong.
Associated Company:-
Aastha (HK) Ltd., Hong Kong. (same address)
BUSINESS REGISTRATION NUMBER
63733581
COMPANY FILE NUMBER
2135672
MANAGEMENT
Managing Director:
Mr. Puneet
Kumbhat
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 21-08-2017)
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Name |
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No. of shares |
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Shilpa MEHTA 102, Ajit Coloby, Ratanada, Jodhpur, PIN: 342001,
Rajasthan, India. |
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10,000 ===== |
DIRECTOR
(As per registry dated 21-08-2017)
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Name (Nationality) |
Address |
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Puneet KUMBHAT |
Flat G, 13/F., Block 1, Grand Water Front, 38 San Ma
Tau Street, Tokwawan, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 21-08-2017)
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Name |
Address |
Co. No. |
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Buttar Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road,
Kwai Chung, New Territories, Hong Kong. |
2086550 |
HISTORY
The subject was
incorporated on 21st August, 2014 as a private limited liability company under
the Hong Kong Companies Ordinance.
The subject was
formerly located at Unit D, 26/F., 8 Hart Avenue, Tsimshatsui, Kowloon, Hong
Kong. Relocated to the present address
in August 2017.
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: 3.
Commodities Imported: India,
Europe, etc.
Markets: Hong Kong, China, other Asian
countries, Europe, etc.
Terms/Sales: CAD or as per contracted.
Terms/Buying: Prepayment, L/C, etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made small profits in 2016 &
2017.
Condition: Business is normal.
Facilities: Adequate for current running.
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, Aaniva HK Limited is wholly owned by Mr.
Shilpa Mehta who is an India merchant.
He is an India
passport holder and does not have the right to reside in Hong Kong
permanently. Formerly he was also the
only director of the subject. Now, the
new director of the subject is Mr. Puneet Kumbhat.
The subject shares
the office with another company known as Aastha (HK) Ltd. [Aastha] which is
also a Hong Kong registered company.
Aastha is a diamond
importer, exporter and wholesaler, so does the subject.
The subject is
trading in loose, polished and cut diamonds.
Most of the commodities are imported from India and Europe. Prime markets are Hong Kong, China and
the other Asian countries. Business keeps on improving.
Aastha is equally
owned by Pranav Samir Gandhi and Puneet Kumbhat. Both are India merchants and
also directors of it.
Puneet Kumbhat is a
Hong Kong ID holder and has got the right to reside in Hong Kong for a long
time. He is also the contact person of
Aastha. He is also responsible for the
business of the subject.
For the year ended
31st March, 2016, the turnover of Aastha amounted to HK$378.65 million, grew by
16.4% as compared with HK$325.38 million in FY 2015; net profit amounted to
HK$0.97 million, grew by 11.5% as compared with HK$0.87 million in FY
2015. It is estimated that the turnover
and net profit of Aastha would be about HK$400 million and HK$1 million
respectively in FY 2017.
The business of the
subject is chiefly handled by Mr. Puneet Kumbhat, history in Hong Kong is just
over three years and three years and eight months.
On the whole,
consider it good for normal business engagements in small 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 67.08 |
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1 |
INR 91.14 |
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Euro |
1 |
INR 80.08 |
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HKD |
1 |
INR 8.58 |
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.