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Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
BBV
GLOBAL LTD. |
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Registered Office : |
8/F., Flat B-2, |
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Country : |
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Date of Incorporation : |
17.02.2012 |
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Com. Reg. No.: |
59422380 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of furniture, safes, lockers, note counting machines, etc. |
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No. of Employees : |
Not
Available |
RATING & COMMENTS
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MIRA’s Rating : |
Nb |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New company |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
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 re-exports, is about four times GDP. 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, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. 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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. 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 exports 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 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
BBV GLOBAL
LTD.
8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2369 3855, 2369 3755
FAX: Not available
Managing Director: Mr. Bharat Bhushan Verma
Incorporated on: 17th February, 2012.
Organization: Private Limited Company.
Capital: Nominal: US$3,000,000.00
Issued: US$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Bank of Baroda, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
8/F., Flat B-2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong.
59422380
1706832
Managing Director: Mr. Bharat Bhushan Verma
Nominal Share Capital: US$3,000,000.00 (Divided into 3,000,000 shares of US$1.00 each)
Issued Share Capital: US$1.00
(As per registry
dated 17-02-2012)
|
Name |
|
No. of share |
|
Bharat Bhushan VERMA |
|
1 = |
(As per registry
dated 17-02-2012)
|
Name (Nationality) |
Address |
|
Bharat Bhushan VERMA |
Flat B202, Vasundhra Appts, 22 Cghs 3, Sec 21C, Faridabad, Haryana-121001, India. |
(As per registry dated
17-02-2012)
|
Name |
Address |
Co.
No. |
|
Vantic Accounting & Consultant Ltd. |
2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan, Hong Kong. |
1326135 |
The subject was incorporated on 17th February, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan, Hong Kong, moved to the present address with effect from 3rd October, 2012.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of furniture, safes, lockers, note counting machines, etc.
Employees: Nil.
Commodities Imported: India, China, other Asian countries, etc.
Markets: India, other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: US$3,000,000.00 (Divided into 3,000,000 shares of US$1.00 each)
Issued Share Capital: US$1.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Banker: Bank of Baroda, Hong Kong Branch.
Standing: Small.
Having issued just one ordinary share of US$1.00, BBV Global Ltd. is wholly owned by Mr. Bharat Bhushan Verma who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject’s registered address is in a private building located at 8/F., Flat B‑2, Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong. This seems to be the residence of Bharat Bhushan Verma when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
Your given phone number 2735 4466 does not belong to the subject. It has had another two phone number 2369 3855 and 2369 3755. We had made phone calls to it but nobody answered.
To our knowledge, there is an Indian Bharat Bhushan Verma in Faridabad, Haryana, India operating a firm known as B. B. Varma & Co. [B. B. Varma]. The subject may have connection with this firm.
B. B. Varma is a well-known wholesaler, distributor, supplier, and trader in the following commodities:-
Godrej Furniture, Security Equipment, Bank Safes, Safe Deposit Lockers, Note Counting Machines, etc.
The subject is engaged in the same lines of business.
The subject’s business in Hong Kong is still under development. Its business is chiefly controlled and operated by Bharat Bhushan Verma
The history of the subject in Hong Kong is just over eight months.
Since the registered office of the subject is in a residential building and history is short, on the whole, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.