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Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BBV GLOBAL LTD. |
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Registered Office : |
Flat B-2, 8/F., |
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Country : |
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Date of Incorporation : |
17.02.2012 |
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Com. Reg. No.: |
59422380 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of metal, metal products, hardware, yarn, garments, consumer electronics |
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No of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Business is Under Development |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
BBV GLOBAL
LTD.
ADDRESS: Flat B-2, 8/F., Far East
Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2369 3755, 2369 3855,
2735 4466
FAX: 852-2369 3944
E-MAIL: bbvglobal@gmail.com
Managing Director: Mr. Bharat
Bhushan Verma
Incorporated on: 17th February, 2012.
Organization: Private Limited
Company.
Capital: Nominal: US$3,000,000.00
Issued: US$250,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: Bank
of Baroda, Hong Kong Branch.
Banking Relation: Satisfactory.
BBV GLOBAL
LTD.
Registered Head
Office:-
Flat B-2, 8/F., Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon,
Hong Kong.
59422380
1706832
Managing Director: Mr. Bharat
Bhushan Verma
Nominal Share Capital: US$3,000,000.00 (Divided into 3,000,000 shares of
US$1.00 each)
Issued Share Capital: US$250,000.00
(As per registry
dated 17-02-2014)
|
Name |
|
No. of shares |
|
Bharat Bhushan VERMA |
|
250,000 ====== |
(As per registry
dated 17-02-2014)
|
Name (Nationality) |
Address |
|
Bharat Bhushan VERMA |
Flat B202, Vasundhra Appts, 22 Cghs 3, Sec 21C, Faridabad,
Haryana-121001, India. |
(As per registry
dated 17-02-2014)
|
Name |
Address |
Co. No. |
|
International Accounting & Consultant Ltd. |
2/F., Western Commercial Building, 31 Des Voeux Road West, Sheung Wan,
Hong Kong. |
1272054 |
The subject was incorporated on 17th February, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at 2/F., Western Commercial Building,
31 Des Voeux Road West, Sheung Wan, Hong Kong where was the operating
office of an accounting firm Vantic Accounting & Consultant Ltd., moved to
the present address with effect from 3rd October, 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of metal, metal products, hardware, yarn, garments, consumer electronics,
etc.
Employee: 1.
Commodities Imported: Europe,
China, other Asian countries, etc.
Markets: India,
other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: US$3,000,000.00
(Divided into 3,000,000 shares of US$1.00 each)
Issued Share Capital: US$250,000.00
Profit or Loss: Kept
a balance account in Hong Kong in 2013.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory
Banker: Bank of Baroda, Hong Kong
Branch.
Standing: Small.
Having issued 250,000 ordinary share of US$1.00 each, BBV Global Ltd. is
wholly owned by Mr. Bharat Bhushan Verma who is an India merchant. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the subject.
Formerly the subject had just issued one ordinary share of US$1.00 which
was owned by Bharat Bhushan Verma. The
number of ordinary shares was increased to the present number in December 2012.
The subject’s registered address is in a private building located at
Flat B-2, 8/F., Far East Mansion, 5-6 Midden Road, Tsimshatsui, Kowloon,
Hong Kong. This seems to be the
residence of Bharat Bhushan Verma when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject has just one employee in Hong
Kong.
Your at 2/F., Western Commercial Building, 31 Des Voeux Road West,
Sheung Wan, Hong Kong is the operating office of the subject’s secretary Vantic
Accounting & Consultant Ltd.
The subject is engaged in the following lines of business:
·
Consumer electronics trading;
·
Metal, iron & steel trading; &
·
Yarns, garments & textile products trading.
Commodities are chiefly sourced from China, other Asian countries,
etc. Prime markets are India and the other
Asian countries.
Being a small trading company in Hong Kong, the subject’s business in
Hong Kong is still under development.
Its business is chiefly handled and operated by Bharat Bhushan Verma
himself.
The history of the subject in Hong Kong is just over two years.
Since the registered office of the subject is in a residential building
and having a short history, on the whole, consider it good for normal business
engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.41 |
|
|
1 |
Rs. 103.42 |
|
Euro |
1 |
Rs. 82.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
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 |
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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 |
|
<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.