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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
CARTMA TRADING CO. LTD. |
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Registered Office : |
M/F, |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.02.1979 |
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Com. Reg. No.: |
05959523 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Bathroom Fittings & Sanitary Ware,
Generators, Hardware, Building Materials, Machine Parts, Water Pumps |
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No of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
CARTMA TRADING CO. LTD.
ADDRESS: M/F, 19 Shantung
Street, Mongkok, Kowloon, Hong Kong.
PHONE: 852-2771 4475
FAX: 852-2771 3193
E-MAIL: cartma@biznetvigator.com
MANAGEMENT:
Managing Director: Mr. Wong Sun
Incorporated on: 2nd February, 1979.
Organization: Private Limited Company.
Capital: Nominal: HK$500,000.00
Issued: HK$500,000.00
Business Category: Importer
and Exporter.
Employees: 5.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
CARTMA TRADING CO.
LTD.
Registered Head Office:-
M/F, 19 Shantung Street, Mongkok, Kowloon, Hong Kong.
05959523
0067280
Managing Director: Mr. Wong Sun
Nominal Share Capital: HK$500,000.00 (Divided into 5,000 shares of
HK$100.00 each)
Issued Share Capital: HK$500,000.00
(As per registry dated 02-02-2014)
|
Name |
|
No. of shares |
|
WONG Sun |
|
4,600 |
|
WONG Chow Ping |
|
400 |
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|
|
–––– |
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Total: |
5,000 ==== |
(As per registry dated 02-02-2014)
|
Name (Nationality) |
Address |
|
WONG Chow Ping |
Room 2011, 20/F., Lung Wu House. Lung Poon Court, Kowloon, Hong Kong. |
|
WONG Sun |
Flat A, 3/F., Cassia Court, 6 Cassia Road, Yau Yat Chuen, Kowloon,
Hong Kong. |
(As per registry dated 02-02-2014)
|
Name |
Address |
Co. No. |
|
H. K. Cheung (Secretaries) Ltd. |
1/F., So Hong Commercial Building, |
0142343 |
The subject was incorporated on 2nd February, 1979 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 and Exporter.
Lines: Bathroom Fittings &
Sanitary Ware, Generators, Hardware, Building Materials, Machine Parts, Water
Pumps
Employees: 5.
Commodities Imported: China,
Europe, Japan
Markets: Asian countries,
Europe, US
Terms/Sales: L/C, T/T
Terms/Buying: L/C, T/T, D/P
Nominal Share Capital: HK$500,000.00 (Divided into 5,000 shares of
HK$100.00 each)
Issued Share Capital: HK$500,000.00
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.
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 5,000 ordinary shares of HK$100.00 each, Cartma Trading
Co. Ltd. is jointly owned by Mr. Wong Sun, holding 92% interests; and
Ms. Wong Chow Ping, holding 8%. The
two Wongs are Hong Kong merchants. They
are also directors of the subject.
The subject is a trading in the following commodities: bathroom fittings
& sanitary ware, generators, hardware, building materials, machine parts,
water pumps, light industrial machinery, industrial products, etc.
Commodities are chiefly sourced from China. Prime markets are Japan, other Asian
countries, Europe, the United States, etc.
Business is normal.
The subject has been taking part in China Import and Export Fair which
is held in Guangzhou City, Guangdong Province, China biannually. The subject is able to source more
commodities from the Fair and get familiar with more suppliers.
The business of the subject is chiefly handled by Ms. Wong Sun and
Ms. Wong Chow Ping. History in Hong
Kong is over 35 years. Regular suppliers
and foreign customers have been maintained.
As the history of the subject is long in Hong Kong, on the whole,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.67 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
Report Prepared
by : |
TPT |
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 |
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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 |
|
<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.