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Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
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Name : |
AVA INTERNATIONAL (HK) LTD. |
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Registered Office : |
Unit 501A, 5/F., Tower B, Hung Hom Commercial Centre, 37 Ma Tau Wai Road, Hunghom, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
20.07.2007 |
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Com. Reg. No.: |
38193392 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF TV KITS, PICTURE TUBES, MOBILE PHONES |
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No. of Employees : |
6 |
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 |
AVA INTERNATIONAL
(HK) LTD.
ADDRESS: Unit 501A, 5/F., Tower B, Hung Hom
Commercial Centre, 37 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.
PHONE: 852-2424 3700, 2671 4643
FAX: 852-3015
2870, 3622 0276, 3424 3800
E-MAIL: ava.int@gmail.com
Managing Director: Mr. Aditya
Nayar
Incorporated on: 20th July, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$9,000,000.00
Issued: HK$9,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
AVA INTERNATIONAL
(HK) LTD.
Registered Head
Office:-
Unit 501A, 5/F., Tower B, Hung Hom Commercial Centre, 37 Ma Tau Wai
Road, Hunghom, Kowloon, Hong Kong.
Mailing Address:-
P O Box 90764, East Tsim Sha Tsui Post Office, Hong Kong.
China Offices:-
Foshan, Guangzhou, Shenzhen Special Economic Zone.
38193392
1151760
Managing Director: Mr. Aditya
Nayar
Nominal Share Capital: HK$9,000,000.00
(Divided into 9,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$9,000,000.00
(As per registry dated 20-07-2013)
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Name |
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No. of shares |
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Aditya NAYAR |
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6,000,000 |
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Ashwani Kumar NAYAR |
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3,000,000 |
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–––––––– |
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Total: |
9,000,000 ======= |
(As per registry dated 20-07-2013))
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Name (Nationality) |
Address |
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Ashwani Kumar NAYAR |
Flat E, 8/F., Tower 3, Grand Waterfront, 38 San Ma Tau Street, To Kwa
Wan, Kowloon, Hong Kong. |
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Aditya NAYAR |
Flat E, 8/F., Tower 3, Grand Waterfront, 38 San Ma Tau Street, To Kwa
Wan, Kowloon, Hong Kong. |
(As per registry dated 20-07-2013)
|
Name |
Address |
Co. No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16‑18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
The subject was incorporated on 20th July, 2007 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: TV
kits, picture tubes, mobile phones
Employees: 6.
Commodities Imported: China
Markets: India,
Pakistan, Bangladesh
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Nominal Share Capital: HK$9,000,000.00
(Divided into 9,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$9,000,000.00
Mortgage or Charge (since
December 2013): (See attachment)
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.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Allahabad Bank, Hong Kong Branch.
Bank of India, Hong Kong Branch.
HBZ Finance Ltd., Hong Kong.
Standing: Normal.
Having issued 9 million ordinary shares of HK$1.00 each, Ava International
(HK) Ltd. is jointly owned by Aditya Nayar, holding 66.7% interests; and
Ashwani Kumar Nayar, holding 33.3%.
Aditya Nayar is a Hong Kong ID Card holder and has got the right to
reside in Hong Kong permanently. The
latter is an India passport holder. Both
are directors of the subject.
The business of the subject is managed by Aditya Nayar who can be
reached at his Hong Kong mobile phone number 852-6677 8105.
Incorporated in July 2007, the subject is trading in the following
commodities:
TV Kits (SKD & CKD), Picture tubes, mobile phones, mobile phone
accessories, memory products, household electric appliances, IT products,
electronic products, etc.
The subject has registered with the Office of the Communications
Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00162850-RU.
The subject’s products have been exported to India, Pakistan,
Bangladesh, etc. Business is rather
active.
The subject has had its premises mortgaged to the banks of Hong Kong in
order to get banking facilities.
As the history of the subject is over six years in Hong Kong, on
the whole, consider it good for normal business engagements.
Property Location: Unit 9, 4/F., Block B, Wah Tat
Industrial Centre, 8 Wah Shing Street, Kwai Chung, New Territories, Hong Kong.
Owner: AVA international (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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06-12-2013 |
- |
HBZ Finance Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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06-12-2013 |
- |
- ditto - |
Assignment of Rental |
(Since December 2013)
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Date |
Particulars |
Amount |
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06-12-2013 |
Instrument: Mortgage Property: 3/6,385 part or share of and in Kwai Chung Town Lot No. 335 (Unit 9,
4/F., Block B, Wah Tat Industrial Centre, 8 Wah Shing Street, Kwai Chung, New
Territories, Hong Kong.) Mortgagee: HBZ Finance Ltd., Hong Kong. |
All moneys |
|
06-12-2013 |
Instrument: Assignment of Rental Property: The Borrower hereby assigns and agrees to assign to the Lender all the
Borrower’s right, title, benefit to and in any moneys whatsoever payable to the
Borrower by the Lessees and Licensees and all other rights and benefits
whatsoever accruing thereafter to the Borrower, capacity as a lessor or
licensor, from the lessees and Licensees, subject to the proviso for cesser
hereinafter contained Mortgagee: HBZ Finance Ltd., Hong Kong. |
General credit facilities to be granted to the Borrower to such extent
as the Lender shall from time to time consider proper and all sums of money
owing by the Borrower to the Lender under the terms of the Mortgage date 6th
December, 2013. |
|
12-03-2014 |
Instrument: General Letter of Hypothecation Property: All goods and all bills of exchange,
promissory notes and negotiable instruments Mortgagee: Allahabad Bank, Hong Kong Branch. |
To secure all monies in respect of banking facilities owing at any
time plus interest and all expenses |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
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|
1 |
Rs.101.10 |
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Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.