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Report No. : |
318146 |
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Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BEVEN INTERNATIONAL LTD. |
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Registered Office : |
C/o Buttar.HK Ltd. Unit B, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
24.07.2006 |
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Com. Reg. No.: |
36983911 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler
of All kinds of protective garments, other types of garment, computer
parts, luggage and bags, desktops, disk drives, notebooks, monitors, mobile
phones |
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No. of Employees : |
No Employee in Hong Kong 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. |
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 Hong Kong |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
BEVEN INTERNATIONAL LTD.
ADDRESS: C/o
Buttar.HK Ltd.
Unit B, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 852-2312 0148
FAX: 852-2375
6513
MANAGEMENT:
Managing Director: Mr. Akshaya
Jain
Incorporated on: 24th July, 2006.
Organization: Private Limited
Company.
Issued Share Capital: HK$1,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Bank of
India, Shenzhen Branch, China.
Banking Relation: Satisfactory.
BEVEN INTERNATIONAL LTD.
Registered Head Office:-
c/o Buttar.HK Ltd.
Unit B, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong.
Associated
Companies:-
JD Impex, India.
Kundalia Exports, India.
Shenzhen Beven International Ltd.
Room 2208, International Science & Technology Building, 3007 Shennan
Middle Road, Futian District, Shenzhen Special Economic Zone, China.
[Phone: 86-755-8327 9782, 2582
9255; Fax: 86-755-8327 9784]
36983911
1061764
Managing Director: Mr. Akshaya
Jain
HK$1,000,000.00
(As per registry dated 24-07-2014)
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Name |
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No. of shares |
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Akshaya JAIN |
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1,000,000 ======= |
(As per registry dated 23-09-2014)
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Name (Nationality) |
Address |
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Akshaya JAIN |
Flat C, 15/F., Hong Kong Garden, The Top Palace (Block 21),
100 Castle Peak Road, Tsing Lung Tau, New Territories, Hong Kong. |
(As per registry dated 24-07-2014)
|
Name |
Address |
Co. No. |
|
Buttar Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New
Territories, Hong Kong. |
2086550 |
The subject was incorporated on 24th July, 2006 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
protective garments, other types of garment, computer parts, luggage and bags,
desktops, disk
drives, notebooks, monitors, mobile phones.
Employees: Nil.
Commodities Imported: China, other
Asian countries.
Markets: India, other
Asian countries, Middle East, Africa.
Terms/Sales: L/C, T/T.
Terms/Buying: As per contracted.
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Keeping a balance
account in Hong Kong.
Condition: Business is not
active in Hong Kong.
Facilities: Making active
use of general banking facilities in China.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: Bank of India, Shenzhen
Branch, China.
Standing: Small.
Having issued 500,000 ordinary shares of HK$1.00 each at the very beginning,
Beven International Ltd. now has increased its ordinary shares to 1 million of
the same value each. The subject is
wholly owned by Akshaya Jain who is an Indian.
He is a Hong Kong ID Card holder and has got the right to reside in Hong
Kong permanently. He is also the only
director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 1/F., Mau Lam Commercial Building, 16‑18 Mau Lam
Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is handling
its correspondences and documents.
Buttar Secretarial Ltd. is the corporate secretary of the subject.
The subject has no employees in Hong Kong. It has had an associated company Shenzhen
Beven International Ltd. [Shenzhen Beven] which is in Shenzhen Special Economic
Zone, China. Its phone and fax number
are
86-755-8327 9782, 2582 9255 and 86-755-8327 9784 respectively.
Shenzhen Beven is trading in the following commodities:-
All kinds of protective garments, especially for bee-keepers,
Other types of garments,
Computer parts and peripherals such as mainboard, DDR, CD-drive,
Luggage, cases and bags,
Metal products,
Glass products,
Desktops and Notebooks,
Monitors,
Disk Drives
Mobile Phones,
Other Electronic Components.
Most of the commodities are sourced from the suppliers in China,
especially in Shenzhen Special Economic Zone.
In recent years, the subject has been chiefly trading in smart phones,
bar phones and electronic accessories.
Prime markets are the Middle East, Africa, India.
Shenzhen Beven has been banking with Bank of India, Shenzhen Branch,
China.
Shenzhen Beven has had associated companies in India known as Kundalia
Exports and JD Impex.
The business of Shenzhen Beven is handled by Akshaya Jain himself.
The subject’s business in Hong Kong is not active. History in Hong Kong is over eight years and
eight months.
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.
|
Date |
Particulars |
Amount |
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10-11-2009 |
Instrument: Letter of Lien and Appropriation Property: Nature of Deposit Date
of Deposit Amount Due Date Term Deposit 10-11-2009 US$30,000.00 10-11-2010 Mortgagee: Bank of India., Shenzhen Branch. |
Advances and other facilities granted to the company from time to time |
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06-01-2011 |
Instrument: Letter of Set Off and Appropriation Property: Nature of Deposit Date
of Deposit Amount Due Date Term Deposit 06-01-2011 US$30,000.00 06-01-2012 Mortgagee: Bank of India., Shenzhen Branch. |
To secure all monies in respect of banking facilities owing at any
time plus interest and all expenses. |
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15-05-2012 |
Instrument: Letter of Set Off and Appropriation Property: Nature of Deposit Date
of Deposit Amount Due Date Term Deposit 19-04-2012 US$30,000.00 19-04-2013 Mortgagee: Bank of India., Shenzhen Branch. |
To secure all monies in respect of banking facilities owing at any
time plus interest and all expenses. |
|
20-03-2013 |
Instrument: Letter of Set Off and Appropriation Property: Nature of Deposit Date
of Deposit Amount Due Date Term Deposit 13-03-2013 US$60,000.00 13-03-2014 Mortgagee: Bank of India., Shenzhen Branch. |
To secure all monies in respect of banking facilities owing at any
time plus interest and all expenses. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.92 |
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|
1 |
Rs.93.57 |
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Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
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.