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Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL BEST
(HK) LTD. |
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|
|
|
Registered Office : |
c/o World Trade Enterprises Consultancy Ltd. Room 2105, 21/F., QD2992,
Trend Centre, 29-31 Cheung Lee Street, Chai Wan |
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|
|
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Country : |
Hong Kong |
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Date of Incorporation : |
10.11.2011 |
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|
|
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Com. Reg. No.: |
59144845 |
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|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Importer, Exporter and Wholesaler of Native Produce, Dried Vegetables,
Seasoning, etc. |
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|
|
|
No. of Employees : |
Not
Available |
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 : |
No Operating Office in Hong Kong |
|
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 |
|
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 |
GLOBAL BEST
(HK) LTD.
ADDRESS: c/o World Trade Enterprises
Consultancy Ltd.
Room 2105, 21/F.,
QD2992, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong.
PHONE: 6532 3928
Managing
Director: Mr. Li Dong
Incorporated
on: 10th
November, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category:
Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Office:-
c/o World Trade
Enterprises Consultancy Ltd. Room 2105, 21/F., QD2992, Trend Centre, 29-31
Cheung Lee Street, Chai Wan, Hong Kong.
59144845
1679227
Managing
Director: Mr. Li Dong
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 10-11-2012)
|
Name |
|
No.
of shares |
|
LI Dong |
|
10,000 ===== |
(As
per registry dated 10-11-2012)
|
Name (Nationality) |
Address |
|
LI Dong |
Room 2105, 21/F., QD2992, Trend Centre, 29-31
Cheung Lee Street, Chai Wan, Hong Kong. |
(As
per registry dated 10-11-2012)
|
Name |
Address |
Co.
No. |
|
World
Trade Enterprises Consultancy Ltd. |
Unit 1302, 13/F., Railway Plaza, 39 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
1156560 |
The
subject was incorporated on 10th November, 2011 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Native Produce, Dried Vegetables, Seasoning,
etc.
Employees: Nil.
Commodities
Imported: India, other
Asian countries, etc.
Markets: China, other Asian countries, etc.
Terms/Sales: As per
contracted.
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: 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: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 10,000 ordinary shares of HK$1.00 each, Global Best (HK) Ltd. is wholly
owned by Mr. Li Dong who is a China merchant.
He is a China ID holder and does not have the right to reside in Hong
Kong permanently. He is also the only
director of the subject.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at “Room
2105, 21/F., QD2992, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong”
known as “World Trade Enterprises Consultancy Ltd.” [WTECL] which is handling
its correspondences and documents. WTECL
is also the corporate secretary of the subject.
This firm has more than one office in Hong Kong.
The
subject has no employees in Hong Kong.
The
subject’s telephone number and fax number have not registered with local
telephone company nor listed on telephone directories.
However,
we can reach the subject’s representative in Hong Kong at your given mobile
phone number 852-6532 3928. According to
the representative, the subject is trading in the following products:-
Foodstuffs,
dried vegetables such as onions, chilli, seasoning, Chinese herbs, other native
produce, etc.
Commodities
are imported from India, other Asian countries, etc. Prime market is China.
It
is likely that the subject has got an associated company in China which is also
operated by Li Dong. The China firm,
bearing the same name as the subject, is responsible for the distribution of
the subject’s products in China.
LI
Dong’s family is in Hong Kong temporary.
The
subject’s business in Hong Kong is not very active. History in Hong Kong is just over a
year.
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.