|
|
|
MIRA INFORM REPORT
|
Report No. : |
505771 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
RENAO LIMITED |
|
|
|
|
Registered Office : |
Unit 1015, 10/F., Peninsula Square, 18 Sung On Street, Hunghom,
Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
17.06.2014 |
|
|
|
|
Com. Reg. No.: |
63471006 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trader of all kinds of Diamonds. |
|
|
|
|
No. of Employees : |
3. (Including Associates) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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, 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.
|
Source
: CIA |
Company name and address
RENAO LIMITED
ADDRESS: Unit 1015, 10/F., Peninsula Square,
18 Sung On Street, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2180 9541, 2180 9542,
9158 9758
FAX: 852-2180 9544
E-MAIL: niket@divinestar.hk
MANAGEMENT
Managing Director:
Mr. Niket Kumarpal Mody
SUMMARY
Incorporated on: 17th June, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 3. (Including associates)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit 1015, 10/F., Peninsula Square, 18 Sung On Street,
Hunghom, Kowloon, Hong Kong.
Holding Company:-
Divine Star (HK) Ltd., Hong Kong. (Same address)
Associated
Companies:-
Divine (Shanghai) Ltd., China.
Divine Gems BVBA, Belgium.
H. Dipak & Co., Hong Kong.
H. Dipak & Co., India.
BUSINESS REGISTRATION NUMBER
63471006
COMPANY FILE NUMBER
2109534
MANAGEMENT
Managing Director:
Mr. Niket
Kumarpal Mody
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 17-06-2017)
|
Name |
|
No. of shares |
|
Divine Star (HK) Ltd., Hong Kong. |
|
5,100 |
|
Amish Rajendra SHAH |
|
1,900 |
|
Heha Amish SHAH |
|
3,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ====== |
DIRECTORS
(As per registry dated 17-06-2017)
|
Name (Nationality) |
Address |
|
Amish Rajendra SHAN |
392 Central PK W 6V
New York NY 10025, U.S. |
|
Niket Kumarpal MODY |
Flat E, 9/F., Tower
2, Sorrento, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 17-06-2017)
|
Name |
Address |
Co. No. |
|
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 17th June, 2014 as a private limited liability company under
the Hong Kong Companies Ordinance.
The subject changed
its corporate secretary to Buttar Secretarial Ltd. in 2016.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Diamond Trader.
Lines: All kinds of diamonds,
etc.
Employees: 3. (Including associates)
Commodities Imported: India,
Belgium, Israel, etc.
Markets: Hong Kong, India, other Asian
countries, US, etc.
Terms/Sales: CAD, or as per contracted.
Terms/Buying: L/C, T/T, O/A, 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, Renao Limited is jointly owned by Divine Star
(HK) Ltd. [Divine Star], a Hong Kong-registered company located at the same
address, holding 51% interests; Mr. Amish Rajendra Shah [A.R. Shah],
holding 19%, and Mr. Heha Amish Shah, 30%.
The directors of the subject changed in April 2016.
Mr. A.R. Shah and Mr.
Niket Kumarpal Mody [N K Mody] are the directors of the subject.
Currently N K Mody is
residing in Hong Kong and can be reached at his mobile phone number 852-9158
9758 in Hong Kong. He is a Hong Kong ID
Card holder and has got the right to reside in Hong Kong.
The operating address
of the subject is located at ‘Unit 1015, 10/F., Peninsula Square, 18 Sung On
Street, Hunghom, Kowloon, Hong Kong’.
Divine Star is also located at this address. It is trading in Divine diamonds. One of the
shareholders of Divine Star is also N K Mody.
The subject is a
diamond and jewellery trader.
Incorporated in June 2014, it is importing and wholesaling diamonds such
as Princess cuts, Emerald cuts, Radiant Cuts, Ovals, Pears, Marquise, Hearts
and Cushions, etc. It offers customers
with a wide range of premium, aesthetically crafted jewellery made with
fancy-shaped diamonds.
Its affiliated
company in India is known as H Dipak & Co.
This company is significant for its Princess Cut Diamonds and fancy
shape diamonds. The subject also trades
in the products of H Dipak & Co.
The subject also
trades in jewellery products such as bridal sets which include rings, earrings,
pendant sets, bracelets, bangles, necklace sets, etc.
The subject’s
business is also handled by Mr. N K Mody.
The history of the
subject in Hong Kong is just over three years and eight months. Business is normal.
On the whole,
consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.44 |
|
|
1 |
INR 89.89 |
|
Euro |
1 |
INR 79.00 |
|
Yen |
1 |
INR 8.65 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.