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Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BOSCA ENTERPRISES LTD. |
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Registered Office : |
5/F., Golden Name Commercial Building, 400 Portland Street, Mongkok, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.05.1993 |
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Com. Reg. No.: |
17083120 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of raw materials for textiles, plastic materials |
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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 |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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 |
BOSCA ENTERPRISES
LTD.
ADDRESS: 5/F., Golden Name Commercial
Building, 400 Portland Street, Mongkok, Kowloon, Hong Kong.
PHONE: 852-2308 1683, 852-2396
8976
FAX: 852-2787 6005
E-MAIL: bosca@hongkong.com
Managing Director: Ms. Chou Hsiu
Chen
Incorporated on: 13th May, 1993.
Organization: Private Limited Company.
Issued Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BOSCA ENTERPRISES
LTD.
Registered Head
Office:-
5/F., Golden Name Commercial Building, 400 Portland Street, Mongkok,
Kowloon, Hong Kong.
17083120
0420271
Managing Director: Ms. Chou Hsiu
Chen
HK$10,000.00
(As per registry
dated 13-05-2014)
|
Name |
|
No. of shares |
|
CHOU Hsiu Chen |
|
10,000 ===== |
(As per registry
dated 13-05-2014)
|
Name (Nationality) |
Address |
|
MAK Jsan Sang |
5/F., Golden Name Commercial Building, 400 Portland Street, Mongkok,
Kowloon, Hong Kong. |
|
CHOU Hsui Chen |
5/F., Golden Name Commercial Building, 400 Portland Street, Mongkok,
Kowloon, Hong Kong. |
(As per registry
dated 13-05-2014)
|
Name |
Address |
Co. No. |
|
Edtoma Secretarial Services Ltd. |
Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton Road,
Tsimshatsui, Kowloon, Hong Kong. |
0534483 |
The subject was incorporated on 13th May, 1993 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,
Exporter and Wholesaler.
Lines: All
kinds of raw materials for textiles, plastic materials, etc.
Employees: 4.
Commodities Imported: Taiwan, US,
India, etc.
Markets: China,
other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Capital: HK$10,000.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as contracted.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares, Bosca Enterprises Ltd. is wholly owned
by Ms. Chou Hsiu Chen who is a Taiwan merchant.
Now, she is a Hong Kong ID Card holder and has got the right to reside
in Hong Kong permanently. She and Mr.
Mak Jsan Sang are the directors of the subject.
Incorporated in May 1993, the subject is trading in the following
products:-
Chemical Raw Materials;
Piecegoods, Fabrics;
Plastic Materials (Including Resins & Sheets) (Plastic chips, PET
chips for yarn from Taiwan);
Yarn - Nylon (From Taiwan, US);
Yarn - Synthetic (Excluding Acrylic & Nylon) (Polyester from Taiwan,
US); &
Other textile Products, etc.
The subject imports its commodities from Taiwan, Vietnam, the United
States, Europe, etc. Prim markets are
China and the other Asian countries.
Business is normal.
According to the subject, it has been doing business in Taiwan for over
thirty years. The main business scope of
the subject is to penetrate the China.
Now, it is one of the largest suppliers of polyester chips, polyester
staple fiber, polyester filament yarn, POY POY, DTY DTY, etc. in Zhejiang
Province of China.
Every year about 60,000 tonnes of polyester chips, polyester staple
fibers are exported to China.
The contact person of the subject is Ms. Chou Hsiu Chen or Ms. Kong Chiu
Tim who is a Hongkongnese. Regular
suppliers in Taiwan, India and the United States have been maintained. It also has had a number of regular customers
in China.
The subject has had sufficient working capital to maintain the current
operating level. No derogatory data have
been heard.
As the history of the subject is over twenty-one years in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.12 |
|
|
1 |
Rs. 102.00 |
|
Euro |
1 |
Rs. 81.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SMT |
|
|
|
|
Report Prepared
by : |
DPT |
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.