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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
NICK TRADE CONCERN LTD. |
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Registered Office : |
C/o Multi-Chain Ltd. Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.04.2011 |
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Com. Reg. No.: |
58281939 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
TRADING
IN MOBILE PHONES, MOBILE PHONE ACCESSORIES, I-PHONES, & SMART-PHONES. |
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No of Employees : |
2 [Hong Kong] 22 [Guangzhou, China] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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 1, 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 |
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 |
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 |
NICK TRADE CONCERN LTD.
ADDRESS: c/o
Multi-Chain Ltd.
Room 301, 3/F., Kam
On Building, 176A Queen’s Road Central, Central, Hong Kong.
PHONE: 852-6766
7441
MANAGEMENT:
Managing Director: Ms. Jiang Lin
Incorporated on: 28th April, 2011.
Organization: Private Limited Company.
Paid Up Capital: HK$1.00.
Business Category: Mobile
Phone Trader.
Employees: 2. (Hong Kong)
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
NICK TRADE CONCERN
LTD.
Registered Head
Office:-
c/o Multi-Chain Ltd.
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Central,
Hong Kong.
Associated
Companies:-
Shenzhen Nick Trade Concern Ltd., China.
Guangzhou Nick Trade Concern Ltd., China.
58281939
1593393
Managing Director: Ms. Jiang Lin
PAID UP CAPITAL: HK$1.00
(As per registry dated 28-04-2014)
|
Name |
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No. of share |
|
JIANG Lin |
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1 = |
(As per registry dated 28-04-2014)
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Name (Nationality) |
Address |
|
JIANG Lin |
Room No. E6-805, Fuli Tao Yuan, Luochongwei Bai Yun District,
Guangzhou, China. |
(As per registry dated 28-04-2014)
|
Name |
Address |
Co. No. |
|
Multi-Chain Ltd. |
Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong
Kong. |
0209214 |
The subject was incorporated on 28th April, 2011 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: Mobile
Phone Trader.
Lines: All
kinds of mobile phones and accessories
Employees: 2. (Hong Kong)
22. (Guangzhou, China)
Commodities Imported: China
Markets: India,
other Asian countries, Europe
Terms/Sales: L/C, T/T
Terms/Buying: As per contracted.
Paid Up Capital: HK$1.00
Profit or Loss: Kept
a balance account in 2013.
Condition: Business
is improving.
Facilities: Adequate
for current running.
Payment: Slow but correct
Commercial Morality: Satisfactory.
Banker: The Hong Kong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Nick Trade Concern Ltd. was incorporated in April, 2011 as a private
limited liability company.
The subject’s registered office is in a commercial service firm located
at Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong
known as Multi-Chain Ltd. which is handling its correspondences and
documents. This company is also the
corporate secretary of the subject.
According to the Companies Registry of Hong Kong, the subject has issued
just one ordinary share of HK$1.00 which is owned by Ms. Jiang Lin who is a
China businesswoman. She is a China
passport holder and does not have the right to reside in Hong Kong
permanently. She is also the only
director of the subject.
We can reach Ms. Jiang Lin’s husband at your given Hong Kong mobile phone
number 852-6766 7441. He seems to be a
foreigner.
According to the respondent, the subject is trading in mobile phones,
mobile phone accessories, iPhones, smart-phones, etc. Most of the commodities are sourced from
Guangdong Province, or Shenzhen Special Economic Zone, China. Its prime markets are India, other Asian
countries, Europe, etc. In Hong Kong the
subject has two employees.
The subject’s main office is in Guangzhou, Guangdong Province,
China. The Guangzhou Office has 22
employees. It also has had an office in
Shenzhen Special Economic Zone, China.
The business of the subject keeps on improving. History in Hong Kong is just over three years
and five months.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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 |
|
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.