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Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOLDASIA CO.
LTD. |
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|
|
|
Registered Office : |
Unit 716D, 7/F., Tower B, South Mark, 11 Yip Hing Street, Wong Chuk
Hang |
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|
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|
Country : |
Hong Kong. |
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Date of Incorporation : |
21.07.2005 |
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Com. Reg. No.: |
35852379 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Fabrics and all kinds of garments, etc. |
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No. of Employees : |
13. |
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 |
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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 – 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 |
BOLDASIA CO.
LTD.
ADDRESS: Unit 716D, 7/F., Tower B, South
Mark, 11 Yip Hing Street, Wong Chuk Hang, Hong Kong.
PHONE: 2745 8988
FAX: 2745 8068
E-MAIL: joseykwok@boldasia.com
Managing
Director: Ms. Kwok Yuen Sheung
Incorporated
on: 21st July, 2005.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category:
Garment Trader.
Employees: 13.
Main Dealing
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
COMPANY ADDRESS
Registered
Head Office:-
Unit 716D, 7/F.,
Tower B, South Mark, 11 Yip Hing Street, Wong Chuk Hang, Hong Kong.
Holding
Company:-
Pramars Co. Ltd.,
Hong Kong.
Associated
Company:-
BoldAsia HK Co.
Ltd., Hong Kong. [Dissolved by
Deregistration]
Yau Kam Co. Ltd.,
Hong Kong.
[Dissolved by
Member’s Voluntary Winding Up]
35852379
0984876
Managing
Director: Ms. Kwok Yuen Sheung
Contact Person: Ms. Zoe Chan
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
(As per registry dated 21-07-2012)
|
Name |
|
No.
of shares |
|
Pramars Co. Ltd., Hong Kong. |
|
500,000 ====== |
(As
per registry dated 21-07-2012)
|
Name (Nationality) |
Address |
|
LAU Oi Chun,
Clemen |
Flat 1210, 12/F., Tin Wang Court, Ma Chai
Hang Road, Wong Tai Sin, Kowloon, Hong Kong. |
|
KWOK Yuen Sheung |
Flat A, 14/F., Block 1, South Wave Court,
3 Shum Wan Road, Aberdeen, Hong Kong. |
(As
per registry dated 21-07-2012)
|
Name |
Address |
Co.
No. |
|
McCabe
Secretarial Services Ltd. |
29/F., Wing On Centre, 111 Connaught Road Central, Hong Kong. |
0095390 |
The
subject was incorporated on 21st July, 2005 as a private limited liability
company under the Hong Kong Companies Ordinance.
Last
time the subject was located at Room A, 10/F., Hang Fat Industrial Building,
550-556 Castle Peak Road, Laichikok, Kowloon, Hong Kong moved to the
present address in January 2011.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Garment
Trader.
Lines: Fabrics and all kinds of garments, etc.
Employees: 13.
Commodities
Imported: China, other
Asian countries, etc.
Markets: Southeast Asia, Europe,
North America, etc.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share
Capital: HK$500,000.00 (Divided into 500,000 shares of HK$1.00 each)
Issued Share
Capital: HK$500,000.00
Mortgage or Charge:-
Date of Security Over Deposits with the Bank
(Limited Company - Under Seal):
12-05-2006
Amount: All monies
Property: EUR 37,000 &
US$18,000 under Deposit A/C No. 178‑718946
Mortgagee: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Profit or Loss: Making a small profit
every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active
use of general banking facilities.
Payment: Met trade commitments as required.
Commercial
Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
BoldAsia
Co. Ltd. is a wholly-owned subsidiary of Pramars Co. Ltd., a Hong Kong‑registered
firm located at a different address.
The
directors of the subject are Ms. Lau Oi Chun, Clemen and Ms. Kwok Yuen
Sheung. Both are Hong Kong
businesswomen. Ms. Clemen Lau can be
reached at her mobile phone number 852-9033 7756.
The
subject is a garment and fabric trader.
It is specialized in Fabrics, Trim Sourcing, and Product Developments
for all kinds of washing pants and Denim Jeans.
Its factory is in China having 300 workers.
It
has had two partner offices in Hangzhou City, Zhejiang Province, China and
Tirupur, India.
According
to the subject, the management team of the subject has been working in this
industry for over 20 years. All its
products are in conformity with the Eco-Tex 100 standard. It is capable of delivering the repeat orders
within 30 to 45 days.
The
subject exports jeans, jackets, casual wears, etc.
Prime
markets are Southeast Asia, Europe, North America, etc.
The
subject has had an associated company BoldAsia HK Co. Ltd., a
Hong Kong-registered firm located at the same operating address. However, this firm has been Dissolved by
Deregistration.
Besides,
Ms. Lau Oi Chun was also the shareholder and director of another Hong
Kong-registered firm Yau Kam Co. Ltd. [Yau Kam] which has been Dissolved by
Member’s Voluntary Winding Up since 17th May, 2004.
The
business of the subject is normal.
History in Hong Kong is over seven years.
The
contact person of the subject Ms. Zoe Chan is a Hongkongnese.
On
the whole, consider the subject good for normal business engagements in
moderate credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.05 |
|
UK Pound |
1 |
Rs.83.44 |
|
Euro |
1 |
Rs.72.53 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.