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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
KINGSWICK HOLDINGS LTD. |
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Registered Office : |
Flat F, 13/F., Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.09.2009 |
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Com. Reg. No.: |
51181370 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF MOBILE
PHONES, SKYPE PHONES, CORDLESS PHONES, ELECTRONIC PRODUCTS, PHARMACEUTICAL
CHEMICALS. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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 |
KINGSWICK
HOLDINGS LTD.
ADDRESS: Flat F, 13/F., Alpha House, 27-33 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2368 3819, 2368 9190
FAX: 852-2367 0064, 2368 9015
E-MAIL: intime@netvigator.com
Managing
Director: Mr. Deepak Agarwal
Incorporated on: 9th September, 2009.
Organization: Private Limited Company.
Paid Up Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 8. (Including associated company)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
KINGSWICK
HOLDINGS LTD
ADDRESS:
Registered
Head Office:-
Flat F, 13/F.,
Alpha House, 27-33 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Intime Enterprises,
Hong Kong. (Same address)
Pacific
International China Ltd., Hong Kong. (Same address)
51181370
1371359
Managing
Director: Mr. Deepak Agarwal
HK$10,000.00
(As
per registry dated 09-09-2014)
|
Name |
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No.
of shares |
|
Deepak AGARWAL |
|
10,000 ===== |
(As
per registry dated 09-09-2014)
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Name (Nationality) |
Address |
|
Deepak AGARWAL |
Unit 21D, 21/F., Block B, Huaqiang Plaza,
1019 Huqiang North Road, Futian, Shenzhen, China. |
(As
per registry dated 09-09-2014)
|
Name |
Address |
Co.
No. |
|
Team
Victory Ltd. |
Room D, 3/F., Thomson Commercial Building, |
0712532 |
The
subject was incorporated on 9th
September, 2009 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: Mobile Phones, Skype Phones, Cordless Phones, Electronic Products, Pharmaceutical Chemicals.
Employees: 8. (Including associated company)
Commodities Imported: China, etc.
Markets: Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: COD or as per contracted.
Paid Up Capital: HK$10,000.00
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.
Having
issued 10,000 ordinary shares of HK$1.00 each, Kingwick Holdings Ltd. is wholly
owned by Mr. Deepak Agarwal who is an India merchant.
He
is an India 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 Shenzhen Special Economic Zone, China.
The
subject has had an associated company Pacific International China Ltd. [PICL],
a Hong Kong-registered address located at the same address. PICL is a mobile phone trader.
The
subject has set up an office in Shenzhen Special Economic Zone, China trading
in the following commodities:-
·
Mobile phones (such as VOIP phones, Skype Phones,
Cordless Phones) and accessories;
·
Electronic Products; &
·
Pharmaceutical Chemicals.
The
business of the Shenzhen Office is chiefly handled by Deepak Agarwal
himself. History in Hong Kong is over
five years and a month.
On
the whole, consider the subject good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
PDT |
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 |
-- |
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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.