|
Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASIATECH HOLDINGS
(H.K.) LTD. |
|
|
|
|
Registered Office : |
Unit 1718, 17/F., Horizon Plaza, 2 Lee Wing Street, Ap Lei Chau |
|
|
|
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Country : |
Hong Kong |
|
|
|
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Date of Incorporation : |
10.08.1995 |
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|
|
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Com. Reg. No.: |
19286823 |
|
|
|
|
Legal Form : |
Private Limited
Company. |
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|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of Garments, Electronic Products, Electric
Appliances |
|
|
|
|
No. of Employees : |
2. |
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 |
ASIATECH HOLDINGS
(H.K.) LTD.
ADDRESS: Unit 1718, 17/F., Horizon Plaza, 2 Lee
Wing Street, Ap Lei Chau, Hong Kong.
PHONE: 852-2581 0020
FAX: 852-2581 0023
E-MAIL: ahlhkltd@netvigator.com
Managing
Director: Mr. Nadeem Sabih Butt
Incorporated
on: 10th August, 1995.
Organization: Private Limited Company.
Capital: Nominal: HK$3,000,000.00
Issued: HK$3,000,000.00
Business Category:
Importer, Exporter and Wholesaler.
Employees: 2.
Main Dealing
Banker: DBS Bank (Hong Kong)
Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Head Office:-
Unit 1718, 17/F.,
Horizon Plaza, 2 Lee Wing Street, Ap Lei Chau, Hong Kong.
19286823
0522643
Managing Director: Mr. Nadeem Sabih Butt
Nominal Share
Capital: HK$3,000,000.00 (Divided into 3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$3,000,000.00
(As
per registry dated 10-08-2013)
|
Name |
|
No.
of shares |
|
Nadeem
Sabih BUTT |
|
2,500,000 |
|
Anushka DIALDAS |
|
500,000 |
|
|
|
–––––––– |
|
|
Total: |
3,000,000 ======= |
(As
per registry dated 10-08-2013)
|
Name (Nationality) |
Address |
|
Anushka DIALDAS |
Flat 2A, Pearl Garden, 7 Conduit Road,
Mid-Level, Hong Kong. |
|
Nadeem Sabih
BUTT |
Flat 2A, Pearl Garden, 7 Conduit Road,
Mid-Level, Hong Kong. |
(As
per registry dated 10-08-2013)
|
Name |
Address |
Co.
No. |
|
Goodwill
International Management Consultants Ltd. |
Room 1902, 19/F., Workington Tower, 78 Bonham Strand, Sheung Wan,
Hong Kong. |
0831193 |
The
subject was incorporated on 10th August, 1995 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:
Garments, Electronic Products, Electric Appliances
Employees: 2.
Commodities
Imported: China, India,
other Asian countries, etc.
Markets: Africa, Eastern Europe, Middle East, US, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$3,000,000.00 (Divided into
3,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$3,000,000.00
Mortgage or
Charge: (See attachment)
Profit or Loss: Making a small profit every
year.
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: DBS Bank
(Hong Kong) Ltd., Hong Kong.
Standing: Small.
Having
issued 3 million ordinary shares of HK$1.00 each, Asiatech Holdings (H.K.) Ltd.
is jointly owned by Mr. Nadeem Sabih Butt, holding 83.3% interests, and Ms. Anushka
Dialdas, holding 16.7%. They are also
directors of the subject.
They
are Hong Kong ID Card holders and have got the right to reside in
Hong Kong permanently.
The
subject’s registered address is in a residential building located at Unit 1718,
17/F., Horizon Plaza, 2 Lee Wing Street, Ap Lei Chau, Hong Kong. It is a small trading company and a buying
office, agent.
Business
commenced in August 1995, the subject is trading in the following commodities:
·
Accessories For Electronics
(TV/monitor tube from India & China), etc.
·
Audio Equipment, MP3 Player, DVD
Player / Recorder, Television (including LCD / Plasma Display / HDTV ) (Colour
& B/W 7” TFT TV), Portable Media Player, Portable Audio System, Headphone
with MP3 player, etc.
·
Electric Domestic Appliances -
Misc. (Mini cooler & warmer), etc.
·
Suits & Jackets - Men’s, Suits
& Jackets - Women’s, Children’s Wear, Blouses, Denim Garments, Dresses
& Skirts, etc.
·
Toasters, Grill Cookers, etc.
The
subject is dealing in consumer electronic products as well as a wide range of
small domestic appliances. Products are
sold to hypermarket and department stores in Europe, the United States, etc.
According
to the subject, it is partnering a number of electronic product manufacturers
in China and the other Asian countries.
The
subject’s business is chiefly handled by the two shareholders. History in Hong Kong is about 18 years. Overall business is normal. Regular suppliers and customers have been
maintained.
On
the whole, consider it good for normal business engagements in small credit
amounts.
|
Date |
Particulars |
Amount |
|
09-03-2007 |
Instrument: Charge
on Cash Deposit to secure liabilities of the Depositor Property: 1) By
way of first fixed charge and agreement to charge:- The Deposit and all right, title &
interest of the company whatsoever, present and future, thereto and therein,
together with any certificates of deposit or other instruments or securities
evidencing title, or otherwise relating, thereto and any account to which the
same is credited 2) By
way of set-off:- Any sum standing to the credit of any one
or more of the accounts of the company with the Bank wheresoever situate Mortgagee: DBS
Bank (Hong Kong) Ltd., Hong Kong. |
All sums of money and liabilities whether actual or contingent |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.64.21 |
|
UK Pound |
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.20 |
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.