MIRA INFORM REPORT

 

 

Report Date :

03.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ASIAN BRIGHTER LTD.

 

 

Registered Office :

Room 4, 10/F, Block B, Proficient Industrial Centre, 6 Wang Kwun Road, Kowloon Bay, Kowloon

 

 

Country :

Hongkong

 

 

Date of Incorporation :

27.08.2003

 

 

Com. Reg. No.:

33932179

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF TOYS, LED LAMPS, REMOTE CONTROL TOY CAR.

 

 

No. of Employees :

4

 

 

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)

Hongkong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

HONGKONG - 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

 

ASIAN BRIGHTER LTD.

 

ADDRESS:                   Room 4, 10/F, Block B, Proficient Industrial Centre, 6 Wang Kwun Road, Kowloon Bay,

                                    Kowloon, Hong Kong.

 

PHONE:                        852-2750 4232

FAX:                             852-2750 1013, 2872 5042

E-MAIL:                        --

 

 

MANAGEMENT

 

Managing Director:        Ms. Tze Sze Sum

 

 

SUMMARY

 

Incorporated on:            27th August, 2003.

 

Organization:                 Private Limited Company.

 

Issued Share Capital:     HK$100.00

 

Business Category:       Importer, Exporter and Wholesaler.

 

Employees:                  4.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:          Satisfactory.

 

 

ADDRESS

 

Registered Head Office:-

Room 4, 10/F, Block B, Proficient Industrial Centre, 6 Wang Kwun Road, Kowloon Bay, Kowloon, Hong Kong.

 

Associated Companies:-

Shantou Ever Profit Trading Ltd., China.

5/F, Ning Hong Building, Hongfa Square, Lingting Section, Road 324, Chenghai 515800, Guangdong Province, China.

[Phone:  86-754-8698 6118;  Fax: 86-754-8698 9899]

 

Chenghai City Ever Profit Industrial Co. Ltd., China.

Chenghai Ever Profit Toys Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

33932179

 

 

COMPANY FILE NUMBER

 

0859152

 

 

MANAGEMENT

 

Managing Director:        Ms. Tze Sze Sum

 

 

ISSUED SHARE CAPITAL

 

HK$100.00

 

 

SHAREHOLDERS

(As per registry dated 27-08-2014)

 

Name

 

No. of shares

TZE Sze Sum

 

75

TZE Wai Hung

 

25

 

 

–––

 

Total:

100

===

 

DIRECTORS

(As per registry dated 27-08-2014)

 

Name

(Nationality)

 

Address

TZE Wai Hung

Flat H, 6/F., Pak Lok House, 19-21 Shung Ling Street, San Po Kong, Kowloon, Hong Kong.

 

TZE Sze Sum

Flat H, 6/F., Pak Lok House, 19-21 Shung Ling Street, San Po Kong, Kowloon, Hong Kong.

 

 

SECRETARY

 

TZE Sze Sum  (As per registry dated 27-08-2014)

 

 

HISTORY

 

The subject was incorporated on 27th August, 2003 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.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of toys, LED lamps, remote control toy car

 

Employees:                  4.

 

Commodities Imported:China, etc.

 

Markets:                        Africa, Australasia, Central & South America, China, Eastern Europe, Hong Kong, Japan,  Korea, Middle East, North America, Other Asian Countries, Scandinavia, Southeast Asia, Taiwan, Western Europe, etc.

 

Terms/Sales:                 L/C, Advanced T/T, etc.

 

Terms/Buying:  L/C, D/P, O/A, etc.

 

 

FINANCIAL INFORMATION

 

Issued Share Capital:     HK$100.00

 

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:                      Normal.

 

 

GENERAL

 

Having issued 100 ordinary shares of HK$1.00 each, Asian Brighter Ltd. is jointly owned by Ms. Tze Sze Sum, holding 75% interests; and Mr Tze Wai Hung, holding 25%.  Being Hong Kong merchants and belonging to the same family, they are also directors of the subject.

 

The subject is a toy trader.  It is trading in the following commodities: Educational Toys - Electronic, Educational Toys - Non-Electronic, Inflatable Toys, Toys , Others (Plastic toy, Plastic toy), Beach Toy – Plastic, LED lamps, LED party lamps, Remote Control Toy Cars, etc.

 

Products are exported to Africa, Australasia, Central & South America, China, Eastern Europe, Japan, South Korea, the Middle East, North America, Other Asian Countries, Scandinavia, Southeast Asia, Taiwan, Western Europe, etc.

 

The subject has had the following three associated companies in China:-

·         Shantou Ever Profit Trading Ltd. [Shantou Ever Profit]

·         Chenghai City Ever Profit Industrial Co. Ltd.

·         Chenghai Ever Profit Toys Co. Ltd.

 

Your given phone and fax number belong to Shantou Ever Profit.  Shantou Ever Profit is the factory of the subject.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.  For instance, it took part in “Hong Kong Toys & Games Fair 2015” which had be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 12th to 15th January, 2015.

 

The business of the subject is chiefly handled by the two shareholders.  History in Hong Kong is over eleven years and three months.

 

On the whole, consider the subject good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.93

UK Pound

1

Rs.97.39

Euro

1

Rs.77.21

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.