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Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TOYS TRADING LTD. |
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Registered Office : |
Room 806-808, 8/F., Hing Yip Commercial Centre, |
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Country : |
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Date of Incorporation : |
15.01.1997 |
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Com. Reg. No.: |
20601054 |
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Legal Form : |
private limited liability company |
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LINE OF BUSINESS : |
TOY TRADER LIKE TOY CARS, DOLLS, TRICYCLES. |
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No. of Employees : |
14 |
RATING & COMMENTS
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MIRAs 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 01, 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
INTERNATIONAL
TOYS TRADING LTD.
Room 806-808, 8/F.,
Hing Yip Commercial Centre, 272-284 Des Voeux Road, Central, Hong Kong.
PHONE: 852-2851 0382
FAX: 852-2851 9238
E-MAIL: ittl@netvigator.com
Managing
Director: Mr. Hung Chun Wai
Incorporated on: 15th January, 1997.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Toy Trader.
Employees: 14.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
INTERNATIONAL
TOYS TRADING LTD.
Registered
Head Office:-
Room 806-808,
8/F., Hing Yip Commercial Centre, 272-284 Des Voeux Road, Central, Hong Kong.
Associated
Companies:-
Shantou Maxland
Trading Co. Ltd., China.
World Top
Development Ltd., Hong Kong.
20601054
0589888
Managing
Director: Mr. Hung Chun Wai
Contact
Person: Ms. Hung Ngar Ling
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 15-01-2014)
|
Name |
|
No.
of shares |
|
HUNG
Chun Wai |
|
3,334 |
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LAM
Sau Chu |
|
3,333 |
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HUNG Ngar Ling |
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3,333 |
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Total: |
10,000 ===== |
(As
per registry dated 15-01-2014)
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Name (Nationality) |
Address |
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HUNG Ngar Ling |
Flat B, 25/F., Block 4, City Garden, North
Point, Hong Kong. |
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LAM Sau Chu |
Flat C, 25/F., Block 4, City Garden, North
Point, Hong Kong. |
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HUNG Chun Wai |
Flat B, 25/F., Block 4, City Garden, North
Point, Hong Kong. |
(As
per registry dated 15-01-2014)
|
Name |
Address |
Co.
No. |
|
Cheng
& Cheng Corporate Services Ltd. |
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road,
Wanchai, Hong Kong. |
0307222 |
The
subject was incorporated on 15th January, 1997 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: Toy Trader.
Lines: Toy cars, Dolls, Tricycles.
Employees: 14.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Middle East, Europe, North & South America, Australia, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
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 every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather 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: Normal.
Having
issued 10,000 ordinary shares of HK$1.00 each, International Toys Trading Ltd.
is equally owned by three Hong Kong merchants, namely, Mr. Hung Chun Wai,
Ms. Lam Sau Chu and Ms. Hung Ngar Ling.
They are also directors of the subject and belong to the same family.
The
subject is a toy manufacturer and trader.
According to the subject, its predecessor was established in 1991. Its headquarters are in Hong Kong and has
branch offices in Shantou Special Economic Zone and Yiwu City of Zhejiang
Province, China.
Its
factory is also in Shantou Special Economic Zone known as Shantou Maxland
Trading Co. Ltd. [Maxland]. Maxland now
has about 40 employees.
The
subject is manufacturing the following commodities: baby dolls, toy dolls, toy
cars, tricycles, doll sets, games, toy calculators, etc.
Prime
markets are the United States, the United Kingdom, Dubai, Russia, India,
Pakistan, Eastern Europe, etc.
The
subject also accepts OEM orders. It is
committed to providing wide varieties of high-quality and competitively priced
products, which are in conformity with international safety standards.
The trade mark iTTL
INTERNATIONAL TORYS TRADING LTD. has registered with the Trade Marks
Registry, Intellectual Property Department, the Government of the Hong Kong
SAR. The filing date was 31st January,
2013 while the expiry date is 30th January, 2023.
The
business of the subject is rather steady as regular customers have been
maintained.
As
the history of the subject is over 17 years and seven 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.60.82 |
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|
1 |
Rs.98.14 |
|
Euro |
1 |
Rs.78.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
-- |
|
This score serves as a reference to assess SCs 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.