MIRA INFORM REPORT

Report Date :

12.12.2014

IDENTIFICATION DETAILS

Name :	NINGBO GLOBAL (HK) LTD.
Registered Office :	19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	25.07.2012
Com. Reg. No.:	60139485
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Iron ore, copper, base metals, steel billet, chemicals, agro-products, palm oils, scrap, computer hardware, heavy machinery.
No of Employees :	6

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 & address

NINGBO GLOBAL (HK) LTD.

ADDRESS: 19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-2722 4630, 2722 4650, 3759 1701

FAX: 852-2369 1155, 3759 1755

E-MAIL: info@ningboglobalhk.com

contact@ningboglobalhk.com

MANAGEMENT

Managing Director: Mr. Vinod Kumar

SUMMARY

Incorporated on: 25th July, 2012.

Organization: Private Limited Company.

Capital: Nominal: HK$7,800,000.00

Issued: HK$7,800,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 6.

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

Banking Relation: Satisfactory.

Name

NINGBO GLOBAL (HK) LTD.

ADDRESS

Registered Head Office:-

19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

Associated Companies:- (Same address)

BABA Exim Ltd., Hong Kong.

S T Agencies, Hong Kong.

BUSINESS REGISTRATION NUMBER

60139485

COMPANY FILE NUMBER

1778253

MANAGEMENT

Managing Director: Mr. Vinod Kumar

CAPITAL

Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares of HK$1.00 each)

Issued Share Capital: HK$7,800,000.00

SHAREHOLDER

(As per registry dated 16-12-2013)

Name	No. of shares
Vinod KUMAR	7,800,000 =======

DIRECTOR

(As per registry dated 25-07-2013)

Name (Nationality)	Address
Vinod KUMAR	Flat F, 12/F., Seaview Mansion, 5-7 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 06-06-2014)

Name	Address	Co. No.
Akin Professionals Ltd.	20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.	1273165

HISTORY

The subject was incorporated on 25th July, 2012 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: Iron ore, copper, base metals, steel billet, chemicals, agro-products, palm oils, scrap, computer hardware, heavy machinery.

Employees: 6.

Commodities Imported: India, other Asian countries, Europe

Markets: China, other Asian countries

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P

FINANCIAL INFORMATION

Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares of HK$1.00 each)

Issued Share Capital: HK$7,800,000.00

Increase of Nominal Capital:-

Form

HK$100,000.00

to

HK$7,800,000.00

on

16-12-2013

Alternation of Issued Capital:-

Initially	paid up	HK$ 100,000.00
16-12-2013	paid up	HK$7,700,000.00
		–––––––––––––––
Total:	paid up	HK$7,800,000.00 =============

Profit or Loss: Kept a balance account in 2013.

Condition: Business is improving.

Facilities: Making fairly 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.

GENERAL

Having issued 7.8 million ordinary shares of HK$1.00 each, Ningbo Global (HK) Ltd. is wholly owned by Vinod Kumar who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject. He can be reached at his Hong Kong mobile phone number 852-9163 8977.

Incorporated in July 2012, the subject is trading in the following commodities: coal products, petrochemical products, iron ore, base metals, iron & steel, chemical, agro products, palm oil, scrap HMS1 and HMS2, computer hardware, ceramic tiles, textile products, copier paper, sanitary ware

The subject is also dealing in HMS Scrap, Timber, Wood Pulp, Olive Oil, Used Oil from various part of the world like Latin America, Central America, the United Arab Emirates, Europe.

Besides, the subject also trades in computer hardware, capital goods, heavy machinery and equipment, glazed tiles, etc.

It has had an associated factory engaged in glazed tile manufacturing. The production capacity of its associated factory is about 20 million square per annum.

The subject has had business partners in the United Arab Emirates, China, Spain, Dominican Republic, Brazil, Colombia, the United States, Canada, India, etc. In Hong Kong, the subject has had the following two associated companies located at the same address:-

BABA Exim Ltd.

S T Agencies

S T Agencies is trading in computers, peripherals, accessories, related electronic products.

BABA Exim Ltd. is a mobile phone trader. It is a member of The Indian Chamber of Commerce Hong Kong, Hong Kong. BABA Exim has registered with the Communications Authority (CA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. It bears the licence No. of RU00115394-RU.

All the firms are managed by Vinod Kumar himself. The history of the subject in Hong Kong is just over two years and four months.

On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.21
UK Pound	1	Rs.97.80
Euro	1	Rs.77.48

INFORMATION DETAILS

Analysis Done by :	DIV
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
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%)

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