|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEXT GLOBAL
LTD. |
|
|
|
|
Registered Office : |
Unit 1008, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
31.08.2011 |
|
|
|
|
Com. Reg. No.: |
58965648 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL
KINDS OF LOOSE DIAMONDS, ETC. |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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 |
|
High |
B2 |
|
Very High |
C1 |
|
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 |
NEXT
GLOBAL LTD.
Unit 1008, 10/F.,
Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2724 2714, 6312 4883
FAX: 2724 2715
Managing
Director: Mr. Nilesh Manubhai Pathak
Incorporated on: 31st August, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond Trader.
Employees: 2.
Main Dealing Bankers: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
NEXT
GLOBAL LTD.
Registered
Office:-
Unit 1008, 10/F., Hart
Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.
58965648
1661457
Mr. Nilesh
Manubhai Pathak
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As per registry dated 31-08-2012)
|
Name |
|
No.
of shares |
|
Nilesh
Manubhai PATHAK |
|
10,000 |
(As per registry dated 31-08-2012)
|
Name (Nationality) |
Address |
|
Nilesh Manubhai
PATHAK |
Flat C, 12/F., Golden Mansion, 83-85
Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. |
(As per registry dated 31-08-2012)
|
Name |
Address |
Co.
No. |
|
Pan
Pacific Consultants Ltd. |
Room 1207, 12/F., Wing Tuck Commercial Centre, 177-183 Wing Lok
Street, Sheung Wan, Hong Kong. |
1254491 |
The
subject was incorporated on 31st August, 2011 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly
the subject was located at Room 324, 3/F., Hankow Centre, 5‑15 Hankow
Road, Tsimshatsui, Kowloon, Hong Kong where is the operating office of a
secretarial firm Ponce & Co. Ltd., moved to the present address in December
2011.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of loose diamonds, etc.
Employees: 2.
Commodities Imported: India, etc.
Markets: Hong Kong, Japan, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Kept a balance account in 2012.
Condition: Business is under development.
Facilities: Is making use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Next
Global Ltd. commenced business in August, 2011.
It moved to the present address in December 2011.
It
has issued 10,000 ordinary shares of HK$1.00 each which are wholly‑owned
by Mr. Nilesh Manubhai Pathak who is an Indian. He is also the only director of the
subject. He is a Hong Kong ID Card
holder and has got the right to reside in Hong Kong permanently.
Pathak
can be reached at the phone number 2724 2714 or his mobile phone at 6312 4883.
The
subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from India. Prime markets are
Hong Kong, Japan and the other Asian countries.
Business is improving.
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. For instance, it took part in “HKTDC Hong
Kong International Jewellery Show 2012” which had been held in Hong Kong
Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 5th
to 9th March, 2013.
Besides,
it is going to take part in “HKTDC Hong Kong International Jewellery Show 2014”
which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong
Kong during the period of 5th to 9th March, 2014.
The
subject’s business is chiefly handled by Pathak himself. History in Hong Kong is just over a year
and seven months.
On
the whole, since the history of the subject is short, consider it good for
normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
|
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.69.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.