|
Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMART DRAGON (ASIA)
LTD. |
|
|
|
|
Registered Office : |
G-1/F., 111 Law Uk Village, Kam Tin, Yuen Long, New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
13.01.2009 |
|
|
|
|
Com. Reg. No.: |
50221381 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF TOYS, FURNITURE, ELECTRONIC PRODUCTS, MOBILE
PHONES. |
|
|
|
|
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 |
|
Status : |
Satisfactory |
|
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 – 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 |
|
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 |
SMART DRAGON
(ASIA) LTD.
ADDRESS: G-1/F., 111 Law Uk
Village, Kam Tin, Yuen Long, New Territories, Hong Kong.
PHONE: 852-2312 2400
FAX: 852-2312 2403
Managing Director: Mr. Muhammad
Imran Tabani
Incorporated on: 13th January, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: DBS Bank
Hong Kong Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
G-1/F., 111 Law Uk Village, Kam Tin, Yuen Long, New Territories, Hong
Kong.
50221381
1300576
Managing Director: Mr. Muhammad
Imran Tabani
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 13-11-2013)
|
Name |
|
No. of shares |
|
Muhammad Sameer TABANI |
|
10,000 ===== |
(As per registry dated 13-01-2014)
|
Name (Nationality) |
Address |
|
Muhammad Imran TABANI |
Room J, 5/F., Star Mnasion, 3 Minden Row, Tsimshatsuim Kowloon, Hong
Kong. |
|
Muhammad Sameer TABANI |
H. No. 603-609, Block 3 Karimabad Karachi, Pakistan. |
(As per registry dated 13-11-2014)
|
Name |
Address |
Co. No. |
|
Tripro Consultant Ltd. |
Unit 1105, 11/F., Golden Era Plaza, 39-55 Sai Yee Street, Mongkok,
Kowloon, Hong Kong. |
0832194 |
The subject was incorporated on 13th January, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit A, 4/F., Comfort Building, 86‑88 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in June
2011.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Toys,
Furniture, Electronic Products, Mobile Phones.
Employees: 4.
Commodities Imported: China,
other Asian countries, etc.
Markets: Africa, Australasia,
Central & South America, China, Eastern Europe, Japan, Korea, Middle East, North
America, Other Asian Countries, Scandinavia, Southeast Asia, Taiwan, Western
Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: CAD or as per contracted.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Making
a small profit in past two years.
Condition: Keeping in a normal manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: DBS Bank Hong Kong Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Smart Dragon (Asia)
Ltd. is wholly-owned by Mr. Muhammad Sameer Tabani who is a Pakistani. The directors of the subject are Muhammad
Sameer Tabani and Muhammad Imran Tabani.
The latter is a Hong Kong ID holder and has got the right to reside in
Hong Kong permanently. He has been in
Hong Kong for a very long time.
The registered address of Muhammad Sameer Tabani is in Karachi,
Pakistan.
The subject is an importer and exporter.
It is trading in the following commodities: Games & Toys –
Electronic; Games & Toys - Non-Electronic; Furniture - Chinese Style;
Furniture - Western Style; Electronic Products; Mobile Phones; DVD Players;
Electronic Devices.
The subject’s products are exported to the following markets: Africa,
Australasia, Central & South America, China, Eastern Europe, Japan, South
Korea, the Middle East, North America, Scandinavia, Southeast Asia, Taiwan, the
other Asian Countries, Western Europe, etc.
Commodities are chiefly sourced from China, the other Asian countries,
and acquired from local suppliers.
According to the subject, it is a manufacturer in Chinese brand mobile
phones. It also wholesales and exports
second-hand mobile phones, new mobile phones, and accessories of mobile phones.
The subject’s business is chiefly handled by Muhammad Imran Tabani himself. He can be reached at his Hong Kong mobile
phone number 852‑6624 3624.
As the history of the subject is over five years and nine months in
Hong Kong, on the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.