|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUSFIELD INTERNATIONAL LTD. |
|
|
|
|
Registered Office : |
Room 2008, 20/F., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
04.05.1990 |
|
|
|
|
Com. Reg. No.: |
13683534 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ELECTRONIC PRODUCTS,
ELECTRIC APPLIANCES |
|
|
|
|
No. of Employees |
05 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
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 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 |
Company name and address
AUSFIELD
INTERNATIONAL LTD.
ADDRESS: Room 2008, 20/F., Hong Kong Plaza, 188 Connaught Road West, Hong Kong.
PHONE: 852-2803 7230
FAX: 852-2803 7616
E-MAIL: ausfield@netvigator.com
MANAGEMENT
Managing Director: Mr. Naresh Jotwani
SUMMARY
Incorporated on: 4th May, 1990.
Organization: Private Limited Company.
Issued Capital: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$75-80 million.
Employees: 5.
Main Dealing Banker: CITIC Bank International Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room 2008, 20/F., Hong Kong Plaza, 188 Connaught Road West, Hong Kong.
Operating Company:-
Naiichi Boeki, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
13683534
COMPANY FILE NUMBEr
0277624
MANAGEMENT
Managing Director: Mr. Naresh Jotwani
Contact Person: Ms. Sharon Ng
ISSUED CAPITAL: HK$1,000,000.00
SHAREHOLDERS: (As per registry dated 04-05-2014)
|
Name |
|
No. of shares |
|
Naresh JOTWANI |
|
900,000 |
|
Shona Naresh JOTWANI |
|
100,000 |
|
|
|
–––––––– |
|
|
Total: |
1,000,000 ======= |
DIRECTORS: (As per registry dated 04-05-2014)
|
Name (Nationality) |
Address |
|
Naresh JOTWANI |
Flat H, 13/F., Tower 10, South Horizons, 10 South Horizons Drive, Ap Lei Chau, Hong Kong. |
|
Shona Naresh JOTWANI |
Flat H, 13/F., Tower 10, South Horizons, 10 South Horizons Drive, Ap Lei Chau, Hong Kong. |
SECRETARY: Naresh JOTWANI (As per registry dated 04-05-2014)
HISTORY
The subject was incorporated on 4th May, 1990 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Room 1916, 19/F., Hong Kong Plaza, 188 Connaught Road West, Hong Kong, moved to the present address in June 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Electronic products, electric appliances, etc.
Employees: 5.
Commodities Imported: China and other Asian countries.
Markets: India, Middle East, South America, etc.
Annual Turnover: HK$75-80 million.
Terms/Sales: L/C, T/T, D/P, etc.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Issued Capital: HK$1,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
CITIC Bank International Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
HBZ Finance Ltd., Hong Kong.
Standing: Good.
GENERAL
Having issued 1 million ordinary shares, Ausfield International Ltd. is jointly owned by Mr. Naresh Jotwani, holding 90% interests; and Mrs. Shona Naresh Jotwani, holding 10%. They are Hong Kong ID holders and have got the right to reside in Hong Kong permanently. They are also directors of the subject.
The subject’s business name is “Naiichi Boeki”.
Incorporated in May 1990, the subject is a trading company dealing in consumer electronics. Its main markets are India and the Middle East. Other markets include Chile, Venezuela, etc.
It is buying and selling DVDs, VCDs, home theatre systems, car audio products, car speakers, rechargeable lanterns, torches, lamps including table lamps, energy saving lamps, etc.
Currently, the subject is manufacturing the following commodities and offering clients with the following services:-
|
Product/Service |
Product/Service Remarks |
|
Vehicles, Auto Parts, Components and Accessories |
|
|
Auto Accessories – Audio-Visual |
Car stereos from China |
|
Audio-Visual Products |
|
|
TV and Video Equipment |
|
|
Television (Include LCD / Plasma Display / HDTV) |
5.5” black and white TV/TFT TV |
|
Electrical Appliances |
|
|
Lighting Products |
|
|
Lamps |
|
|
Emergency Light |
|
|
Telecom Products |
|
|
Telephone and Telephone Equipment (Excluding Mobile Phone) |
|
|
Telephone – Wireless |
From China |
|
Telephone |
From China |
The subject’s business is chiefly handled by the couple. Annual sales turnover of the subject ranges from HK$75 to 80 million. Making a small profit every year.
The contact person Ms. Sharon Ng is a Hongkongnese.
As the history of the subject is over 24 years in Hong Kong, on the whole, consider it good for normal business engagements.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
21-07-1999 |
Instrument: Lien and Set-off Agreement Property: DFN1070511 for US$45,510.92 due on 21-10-1999 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
|
06-08-2002 |
Instrument: Lien and Set-off Agreement Property: DFN4080733 for US$66,133.87 due on 06-11-2002 Mortgagee: HBZ Finance Ltd., Hong Kong. |
Loans, credit financial accommodation and facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.103.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIS |
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.