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Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
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Name : |
PUKKA PADS (HK) LTD. |
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Registered Office : |
Unit 303, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.06.2010 |
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Com. Reg. No.: |
52390958 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of stationery, paper
products |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 has no tariffs on imported goods, and it levies
excise duties on only four commodities, whether imported or produced locally:
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, its continued
reliance on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. 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 12% of total system
deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the mainland's
service sector for Hong Kong-based companies.
|
Source
: CIA |
PUKKA PADS (HK) LTD.
ADDRESS: Unit 303, 3/F., Mirror
Tower, 61 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2857 7202
FAX: 852-2507 3968
E-MAIL: amyfong@pukka-pads.com.hk
General Manager: Mr. Simon
Rostron
Incorporated on: 3rd June, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 8.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
PUKKA PADS
(HK) LTD.
Registered Head
Office:-
Unit 303, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon,
Hong Kong.
Holding Company:-
More Gold Ltd., Hong Kong. (Same
address)
Associated
Companies:-
Cardinal Brands Holdings Ltd., UK.
Cardinal Brands Ltd., UK.
Concord Filing Products Ltd., UK.
Pukka Filing Products Ltd., UK.
Pukka Pads 2000 Ltd., UK.
Pukka Pads Business Forms Ltd., UK.
Pukka Pads China (Kunshan) Ltd., China.
Pukka Pads Ltd., UK.
Pukka Pads Property Ltd., UK.
Pukka Pads UK Ltd., UK.
Trading Services International (UK) Ltd., UK.
Yorkshire Envelopes Co. Ltd., UK.
52390958
1464183
General Manager: Mr. Simon
Rostron
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 03-06-2013)
|
Name |
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No. of shares |
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More Gold Ltd., Hong Kong. |
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7,500 |
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Key Merit Corporation Ltd., Hong Kong. |
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1,500 |
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Orient Air Ltd., Hong Kong. |
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1,000 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 03-06-2013)
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Name (Nationality) |
Address |
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Christopher FLETCHER |
The Old Coach House, 2 The Stables, Priory Road, Thurgarton,
Nottinghamshire, NG147GX, UK. |
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Christopher STOTT |
13 Canford Cliffs Avenue, Canford Cliffs, Poole, Dorset, BH14 9QN, UK. |
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Andrew James BELL |
33 Western Avenue, Branksome Park, Poole, Dorset, BH13 7AN, UK. |
(As per registry dated 03-06-2013)
|
Name |
Address |
Co. No. |
|
Earnlink Management Ltd. |
Room 2202, 22/F., 101 King’s Road, Hong Kong. |
0242393 |
The subject was incorporated on 3rd June, 2010 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: All kinds of stationery, paper products
Employees: 8.
Commodities Imported: China, the
other Asian countries
Markets: UK, the other European countries
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
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: Made a small profit in 2013.
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.
Having issued 10,000 ordinary shares of HK$1.00 each, Pukka Pads (HK)
Ltd. is jointly owned by More Gold Ltd., a Hong Kong-registered company holding
75% interests; Key Merit Corporation Ltd., holding 15%; Orient Air Ltd.,
10%. All are Hong Kong-registered
companies.
The subject is a member of the Pukka Group of companies.
The subject is a supply chain management company for paper products
& office stationery. It manages the
supply chain for many of the world’s leading brands ensuring that products are
produced to the highest quality.
With a network of warehousing across the United Kingdom, Europe and
China, the subject is able to supply all kinds of its customers paper products
& office stationery.
The subject offers a complete range of products for school, home and office
needs.
The subject’s affiliated brands are Pukka Pads, Pukka Products, Pukka
Paper, Unipad and the brand new children’s activity book range; Pukka Fun.
The subject’s paper products are the followings:-
Notebooks, Composition books, Envelopes, Index cards, Writing tablets,
Copy paper, Other paper products, etc.
The subject also offers customers with designing services. Its manufacturing facilities in China is
known as Pukka Pads China (Kunshan) Ltd.
In recent years, the Pukka Group has acquired Yorkshire Envelopes Co.,
Ltd. and Concord Filing Products Ltd., both are UK-based companies. The acquisitions are able to increased the
product ranges and product brands for the Group.
As the history of the subject is over three years in Hong Kong, on the
whole, consider it good for normal business engagements in small credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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|
1 |
Rs.99.85 |
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Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.