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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BOWLSTAR (HK) LTD. |
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Registered Office : |
Central Dynamic Secretarial Ltd. Unit 5-6, 7/F., |
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Country : |
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Date of Incorporation : |
06.10.1999 |
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Com. Reg. No.: |
30515073 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
subject is a toy trader |
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No. of Employees : |
No Employees in NOTE: It is to be noted that
the company does not have its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in |
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Payment Behaviour : |
Unknown |
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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
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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.
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Source
: CIA |
Note:
(Formerly located at:
c/o Central Dynamic Secretarial Ltd.
Unit 9-10, 27/F., Sea Power Tower, Concordia Plaza, 1 Science Museum
Road, Tsimshatsui, Kowloon, Hong Kong.)
BOWLSTAR (HK)
LTD.
Registered Office:-
c/o Central Dynamic Secretarial Ltd.
Unit 5-6, 7/F., Greenfield Tower, Concordia Plaza 1 Science Museum Road,
Tsimshatsui, Kowloon, Hong Kong.
[Tel: 852-2545 4654; Fax:
852-2543 2229]
Associated Companies:-
Dongguan Baocheng Scientific Technology Co. Ltd., China.
Dongguan Bestsign Import & Export Co. Ltd., China.
Dongguan Bestsign Industrial Enterprises Co. Ltd., China.
Dongguan Bestsign Trading Co. Ltd., China.
Dongguan Bestsign Wine Celler, China.
Dongguan Hongtong Commercial Trading Co. Ltd., China.
Dongguan Jiecheng Children Products Co. Ltd., China.
Dongguan Yuefeng Colour Printing Co. Ltd., China.
etc.
30515073
0690293
6th October, 1999.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$3.00
(As per registry dated 06-10-2013)
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Name |
Occupation |
No. of shares |
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LAI Xi Yin |
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1 |
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LAI Shao Bo |
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1 |
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LAI Guo Xian |
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1 |
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-- |
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Total: |
3 = |
(As per registry dated 06-10-2013)
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Name (Nationality) |
Address |
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LAI Shao Bo |
Second Ind. Zone, Xian Sha, Gao Bu Zhen, Dongguan, Chiina. |
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LAI Guo Xian |
Second Ind. Zone, Xian Sha, Gao Bu Zhen, Dongguan, China. |
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LAI Xi Yin |
Second Ind. Zone, Xian Sha, Gao Bu Zhen, Dongguan, China. |
(As per registry dated 06-10-2013)
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Name |
Address |
Co. No. |
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Central Dynamic Secretarial Ltd. |
Unit 5-6, 7/F., Greenfield Tower, Concordia Plaza, 1 Science Museum
Road, Tsimshatsui, Kowloon, Hong Kong. |
0563433 |
The subject was incorporated on
6th October, 1999 as a private limited liability company under the Hong Kong
Companies Ordinance.
Long time ago, the subject was located at Room 701, 7/F., Hilder Centre,
2 Sung Ping Street, Hung Hom, Kowloon, Hong Kong. Its phone number and fax number was 852-2768
7205 and 852-2768 7206 respectively. In
October 2010, the subject’s office moved to Unit 9-10, 27/F., Sea Power Tower,
Concordia Plaza, 1 Science Museum Road, Tsimshatsui, Kowloon, Hong Kong where
was the old operating address of Central Dynamic Secretarial Ltd. Since then, the subject’s phone and fax
number have been no longer in service any more.
The secretarial firm moved to the present address in September 2012, so
did the subject.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Having issued 3 ordinary shares of HK$1.00 each, Bowlstar (HK) Ltd. is
equally owned by Mr. Lai Shao Bo, Mr. Lai Guo Xian and Mr. Lai Xi Yin. Being
China ID or passport holders, they do not have the right to reside in Hong Kong
permanently. They are also directors of
the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit 5-6, 7/F., Greenfield Tower, Concordia Plaza, 1
Science Museum Road, Tsimshatsui, Kowloon, Hong Kong. known as Central
Dynamic Secretarial Ltd. which is handling its correspondences and
documents. This company is also the
corporate secretary of the subject.
The subject has no employees in Hong Kong.
Your given phone number and fax number 852-2768 7205 and 852-2768 7206
respectively belonged to the subject long time ago, now these two lines are no
longer in service any more.
The subject is a toy trader. It
is also one of the leading toy manufacturers.
Established in 1999, the subject is a subsidiary of Bestsign which is
the parent of the subject. Located in
Dongguan, heart of Guangdong Province, the subject has been a manufacturing
toys and premiums for some of the world’s leading manufacturers, such as Nokia,
Honda, Nestle, etc.
Specialised in plush and plastic toys, the subject has been working with
some of the world’s leading major players.
It is manufacturing products for Disney, Nickelodeon, and so forth.
Furthermore, the subject is able to offer customers with other services.
The Bestsign Group of companies are engaged in diversified economy. For instance, Dongguan Bestsign Trading Co.
Ltd. is trading in toys, garments, textiles products, packaging materials,
shoes, materials for shoes, plastic products, hardware, handbags, children and
baby products, etc. Products are
marketed in China and exported to Asian countries, Europe, North and South
America, Australia, etc. Business is
rather active.
The Group also trades in wines.
The business of the Group is chiefly handled by the Lai family.
The subject’s business in Hong Kong is not active. History in Hong Kong is about fifteen years.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SHG |
RATING EXPLANATIONS
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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.