|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OMNIDIS LTD. |
|
|
|
|
Registered Office : |
Unit D, 6/F., Mercantile Industrial & Warehouse Building, 16-24 Ta Chuen Ping Street, Kwai Chung, New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
22.03.2010. |
|
|
|
|
Com. Reg. No.: |
51961786 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Luggage |
|
|
|
|
No. of Employees : |
4. (Including associate) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
OMNIDIS LTD.
ADDRESS: Unit D, 6/F., Mercantile Industrial &
Warehouse Building, 16-24 Ta Chuen Ping Street, Kwai Chung, New Territories,
Hong Kong.
PHONE: 852-2545 0293, 3568 5516
FAX: 852-3547 9293
E-MAIL: cs@omnidis.com
info@omnidis.com
wade.tang@omniumus.com
Managing Director: Mr. Tang Wai
Kwon, Wade
Incorporated on: 22nd
March, 2010.
Organization: Private
Limited Company.
Capital: Nominal: HK$2,500,000.00
Issued: HK$2,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
4. (Including associate)
Main Dealing Banker: Shanghai Commercial Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Unit D, 6/F., Mercantile Industrial & Warehouse Building, 16-24 Ta
Chuen Ping Street, Kwai Chung, New Territories, Hong Kong.
Associated Company:-
Omnimus Co. (HK) Ltd., Hong Kong.
(Same address)
51961786
1433777
Managing Director: Mr. Tang Wai
Kwon, Wade
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
(As per registry dated 22-03-2013)
|
Name |
|
No. of shares |
|
TANG Wai Kwon |
|
2,500,000 ======= |
(As per registry dated 22-03-2013)
|
Name (Nationality) |
Address |
|
TANG Wai Kwon |
G/F., 725A, Tan Cheung, Sai Kung, New Territories, Hong Kong. |
(As per registry dated 22-03-2013)
|
Name |
Address |
Co. No. |
|
Caryee Management Co. Ltd. |
Flat A, 18/F., Yue On Commercial Building, 385-387 Lockhart Road,
Wanchai, Hong Kong. |
0978549 |
The subject was incorporated on 22nd March, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Last time, the subject was located at Unit 1302-1303, 13/F., Wai Wah
Commercial Centre, 6 Wilmer Street, Sheung Wan, Hong Kong, moved to the present
address in June 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of Luggage.
Brand Names:
CARLTON, LOJEL,
TIMONTHY Travel Essentials.
Employees: 4. (Including associate)
Commodities Imported: Europe, China, India, Taiwan, etc.
Markets: Hong
Kong, China, other Asian countries, Europe, North America, etc.
Terms/Sales:
COD or as per
contracted.
Terms/Buying: Various
terms.
Nominal Share Capital: HK$2,500,000.00 (Divided into 2,500,000 shares
of HK$1.00 each)
Issued Share Capital: HK$2,500,000.00
Indebtedness: HK$500,000.00 (Total amount
outstanding on all mortgages and charges as per last Annual Return dated
22-03-2013)
Mortgage or Charge: (See
attachment)
Profit or Loss: Made a small profit in 2012.
Condition:
Keeping in a
normal manner.
Facilities:
Making rather
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker:
Shanghai
Commercial Bank Ltd., Hong Kong.
Standing:
Small.
Having issued 2.5 million ordinary shares of HK$1.00 each, Omnidis Ltd. is
wholly owned by Mr. Tang Wai Kwon, Wade who is a Hong Kong merchant. He is also the only director of the subject.
The subject has had an associated company Omnimus Co. (HK) Ltd.
[Omnimus] which is a Hong Kong-registered company located at the same address. It was incorporated on 4th July, 2003.
The subject is a luggage distributor.
The subject offers clients and manufacturers with distribution
services. Currently it is distributing
the luggage bearing the following brands:-
CARLTON, LOJEL, TIMONTHY Travel Essentials.
CARLTON is owned by VIP Industries Ltd. which is an India-based firm. LOJEL is owned by C & C Luggage
Manufacturing Co. Ltd. which is a Taiwan-based firm.
TIMONTHY Travel Essentials is owned by Omnimus. Omnimus has registered its trade mark THD
with Trade Marks Registry, Intellectual Property Department, the Government of
the Hong Kong SAR. This trade mark was
registered on 25th October, 2007 and the expiry date is 24th October 2017.
The subject has had the following sales counters in Hong Kong:-
·
Citistore, Tai Kok Tsui, Kowloon, Hong Kong;
·
Citistore, Tsuen Wan, New Territories, Hong Kong;
·
Sogo, Causeway Bay, Hong Kong;
·
Wing On Department Store, Discovery Bay;
·
Wing On Department Store, Sheung Wan, Hong Kong;
&
·
Wing On Department Store, Tsimshatsui East,
Kowloon, Hong Kong.
Omnimus is a product development company. It sources, develops, and manufactures a wide
range of products on behalf of its clients.
Its main products includes Sanitary Ware, Ceramic Tiles, Wood Floorings,
Consumer Electronics, Healthcare Products, Furniture Fabrics, etc. Its products bear the following brand names: Airvana,
Aquarius, Cedar, NOVEL, etc.
The businesses of the subject and Omnimus are handled by Tang Wai Kwon,
Wade.
The history of the subject in Hong Kong is over three years.
On the whole, consider the subject good for normal business engagements
in small credit amounts for the time being.
|
Date |
Particulars |
Amount |
|
20-04-2012 |
Instrument: Collateral Assignment: Property: All the benefit of net proceeds due or to become payable under the
life insurance policy No. 1952867668 issued by Hong Kong Life Insurance Ltd
with all assignable supplementary contracts, insuring the life of Tang Wai
Kwon up to the said amount of loan or the outstanding amount of loan due to
the Assignee at the time of payment,
inclusive of the cash surrender values and loan value thereof, and of
any dividends that may be declared upon such policy from time to time Mortgagee: Shanghai Commercial Bank Ltd.,
Hong Kong. |
To secure the amount of loan of HK$500,000.00 and interest thereof
grantd or to be granted to Omnidis Ltd. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.57 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.