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Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ATM
TRADE INTERNATIONAL LTD. |
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Registered Office : |
C/o Midnight Sun (HK) Ltd., Room 1001, 10/F., |
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Country : |
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Date of Incorporation : |
09.02.2009 |
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Com. Reg. No.: |
50266595 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is trading in the following
commodities:- Building hardware, Furniture & Furniture Hardware Fittings;
Sanitary wares, Tiles, Marble stones, Bath fittings, Bags, Shoes,
Watches, Mobile & Mobile accessories,
LCD TV, LCD Monitor, Laptop, Computer, Gift items & other small
commodities, |
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No. of Employees : |
No employees in It is to
be noted that the company does not have its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
No operating office in |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
ATM
TRADE INTERNATIONAL LTD.
Registered Office:-
C/o
Midnight Sun (HK) Ltd.
Room
1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yaumatei,
Kowloon, Hong Kong.
[Phone: 2783 7456;
Fax: 2783 7457;
E-mail: Monju@Midnightsungroup.com
]
Associated Companies:-
ATM
Technology (BD) Ltd., Bangladesh.
Tofazzal
Trading, Bangladesh.
Tumpa
Moni Trade Syndicate, Bangladesh.
50266595
1305573
9th
February, 2009.
Nominal
Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued
Share Capital: HK$10,000.00
(As per registry dated 09-02-2014)
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Name |
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No. of shares |
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Tofazzal
ISLAM |
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10,000 |
(As per registry dated 09-02-2014)
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Name (Nationality) |
Address |
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Tofazzal
ISLAM |
138,
Raza Bazar, Tejgaon, Dhaka-1215, Bangladesh. |
(As per registry dated 09-02-2014)
|
Name |
Address |
|
Monju
AHMED |
Flat
B, 6/F., Lee Loy Mansion, 332-338 Canton Road, Yaumatei, Kowloon, Hong Kong. |
ATM Trade International Ltd. was
incorporated on 9th February, 2009 as a private limited liability company under
the Hong Kong Companies Ordinance.
The subject does not have its own
operating office. Its registered office
is in a commercial service firm located at ‘Room 1001, 10/F., Kwong Fat
Commercial Building, 582-588 Canton Road, Yaumatei, Kowloon, Hong Kong’
known as ‘Midnight Sun (HK) Ltd.’ which is handling its correspondences and
documents.
The subject has no employees in Hong
Kong.
According to the Companies Registry
of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each
which are wholly-owned by Mr. Tofazzal ISLAM who is a Bangladesh merchant. He is a Bangladesh passport holder and does
not have the right to reside in Hong Kong permanently. He is also the only director of the subject. His registered address is in Dhaka,
Bangladesh.
The subject is trading in the following
commodities:-
Building hardware, Furniture &
Furniture Hardware Fittings; Sanitary wares, Tiles, Marble stones, Bath
fittings, Bags, Shoes, Watches, Mobile & Mobile accessories, LCD TV, LCD Monitor, Laptop, Computer, Gift
items & other small commodities.
Most of the products bear the brand
name of ATM.
Commodities are sourced from China,
other Asian countries, etc. Prime
markets are Asian countries and Bangladesh.
Besides, the subject is an
experienced industrial project’s service provider such as major generation
power plants, equipment to include project design, construction, operation and
maintenance. Solar power projects, Mini
Cement plants, Tiles projects, etc.
The subject has had associated
companies in Bangladesh which are also operated by Tofazzal ISLAM.
According to the subject, it has had
over 2,000 suppliers in Asia while most of them are in China. It is able to provide customers with about
10,000 kinds of household products at ‘factory price’.
The subject’s business in Hong Kong
is not active. History in Hong Kong is
over five years and eight months.
Since the subject does not have its
own operating office and has no employees in Hong Kong, consider it good for
business engagements on L/C basis.
NOTE:
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.07 |
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|
1 |
Rs.98.73 |
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Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.