|
Report No. : |
315708 |
|
Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOSCA ENTERPRISES LTD. |
|
|
|
|
Registered Office : |
5/F., Golden Name Commercial Building, 400 Portland Street, Mongkok, Kowloon |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
13.05.1993 |
|
|
|
|
Com. Reg. No.: |
17083120 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of All kinds of raw materials for textiles, plastic materials. |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - 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 |
BOSCA
ENTERPRISES LTD.
ADDRESS: 5/F.,
Golden Name Commercial Building, 400 Portland Street, Mongkok,
Kowloon, Hong
Kong.
PHONE: 852-2308
1683, 852-2396 8976
FAX: 852-2787
6005
E-MAIL: bosca@hongkong.com
Managing Director:
Ms. Chou Hsiu Chen
Incorporated on: 13th May, 1993.
Organization: Private Limited Company.
Issued Share Capital:
HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
5/F., Golden Name Commercial Building, 400 Portland
Street, Mongkok, Kowloon, Hong Kong.
17083120
0420271
Managing Director:
Ms. Chou Hsiu Chen
HK$10,000.00
(As per registry
dated 13-05-2014)
|
Name |
|
No. of shares |
|
CHOU Hsiu Chen |
|
10,000 ===== |
(As per registry
dated 13-05-2014)
|
Name (Nationality) |
Address |
|
MAK Jsan Sang |
5/F., Golden Name Commercial Building, 400 Portland
Street, Mongkok, Kowloon, Hong Kong. |
|
CHOU Hsui Chen |
5/F., Golden Name Commercial Building, 400 Portland
Street, Mongkok, Kowloon, Hong Kong. |
(As per registry
dated 13-05-2014)
|
Name |
Address |
Co. No. |
|
Edtoma Secretarial Services Ltd. |
Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton
Road, Tsimshatsui, Kowloon, Hong Kong. |
0534483 |
The subject was incorporated
on 13th May, 1993 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: All
kinds of raw materials for textiles, plastic materials, etc.
Employees: 4.
Commodities Imported: Taiwan,
US, India, Europe, etc.
Markets: China,
other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital:
HK$10,000.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of general
banking facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000
ordinary shares, Bosca Enterprises Ltd. is wholly owned by Ms. Chou Hsiu Chen
who is a Taiwan merchant. Now, she is a
Hong Kong ID Card holder and has got the right to reside in Hong Kong
permanently. She and Mr. Mak Jsan Sang
are the directors of the subject. Mak is
also a Taiwan merchant.
Incorporated in May
1993, the subject is trading in the following products:-
· Chemical Raw Materials;
· Piecegoods, Fabrics;
· Plastic Materials (Including Resins & Sheets) (Plastic chips, PET chips for yarn from Taiwan);
· Yarn - Nylon (From Taiwan, US);
· Yarn - Synthetic (Excluding Acrylic & Nylon) (Polyester from Taiwan, US); &
· Other textile Products, etc.
The subject imports
its commodities chiefly from Taiwan, Vietnam, the United States, Europe,
etc. Prim markets are China and the other
Asian countries. Business is normal.
According to the
subject, it has been doing business in Taiwan for over thirty years. The main purpose of the subject is to
penetrate the China. Now, it is one of
the largest suppliers of polyester chips, polyester staple fiber, polyester
filament yarn, POY POY, DTY DTY, etc. in Zhejiang Province of China.
Every year about
60,000 tonnes of polyester chips, polyester staple fibers are exported to China
while most of the customers are in Zhejiang Province.
In recent years, the
subject has set up an office in Zhejiang Province, China in order to penetrate
the market further.
The contact person of
the subject is Ms. Chou Hsiu Chen or Ms. Kong Chiu Tim. The latter is a Hongkongnese. Regular suppliers in Taiwan, India and the
United States have been maintained. It
also has had a number of regular customers in China. Overall business is normal and steady.
The subject has had
sufficient working capital to maintain the current operating level. No
derogatory data have been heard.
As the history of the
subject is about twenty-two years in Hong Kong, on the whole, consider it
good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.