MIRA INFORM REPORT
|
Report No. : |
318966 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
NITI INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
Office No.1208, 12/F, Tower 2, Silver Cord, 30
Canton Road, Tsim Sha Tsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
20.04.2001 |
|
|
|
|
Com. Reg. No.: |
754372 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in trading of
telecommunication equipment |
|
|
|
|
No. of Employee : |
10 |
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) |
|
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 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 |
Contact
Points
|
Company Name: |
Niti
International Limited |
|
Supplied Name: |
NITI
INTERNATIONAL LTD |
|
Trading Address: |
Rm. 1208, 12F, Tower 2, Silver Cord, 30 Canton Rd., Tsim Sha Tsui,
Kowloon, Hong Kong |
|
Supplied
Address: |
SUIT 1208, 12TH
FL, SILVER CORD TOWER-2, 30, CANTON ROAD, TSIMSHATSUI, KOWLOON |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Office No.1208, 12/F, Tower 2, Silver Cord,
30 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong. |
|
Telephone Number: |
+852-2721-8276 |
|
Fax Number: |
+852-2367-0145 |
|
E-mail: |
|
|
Date of Registration: |
2001-04-20 |
|
Registered Number: |
754372 |
|
Business Registration No.: |
31775597 |
|
Paid-up Capital: |
HKD 15,000,000(USD 1,935,000) = 15,000,000 Shares @ HKD 1 (As of 2015.4, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
76411--Telephone sets, including telephones for cellular networks or
for other wireless networks (No.) |
|
Principal Activities: |
Trading of telecommunication equipment |
|
Staff: |
About 10 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-04-20 |
History
Subject was incorporated on 2001-04-20 with the registered number 754372
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or
branches; from other source we could not obtain the relevant information,
either.
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Sawarthia Ramesh Kumar |
12,000,000 |
80% |
|
Sawarthia Aruna Devi |
3,000,000 |
20% |
|
Total |
15,000,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Sawarthia Ramesh Kumar |
|
Address: |
Flat C, 22/F, Block 3, Parc Palais, 18 Wylie Road, King’s Park, Ho Man
Tin, Kowloon, Hong Kong. |
|
2 |
|
|
Name: |
Sawarthia Aruna Devi |
|
Address: |
Flat C, 22/F, Block 3, Parc Palais, 18 Wylie Road, King’s Park, Ho Man
Tin, Kowloon, Hong Kong. |
Management
Information
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Sawarthia Aruna Devi |
|
Address: |
Flat C, 22/F, Block 3, Parc Palais, 18 Wylie Road, King’s Park, Ho Man
Tin, Kowloon, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
P 101228(6) |
|
2 |
|
|
Name: |
Sawarthia Ramesh Kumar |
|
Address: |
Flat C, 22/F, Block 3, Parc Palais, 18 Wylie Road, King’s Park, Ho Man
Tin, Kowloon, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
P 060567(4) |
|
3 |
|
|
Name: |
Sawarthia Puja |
|
Address: |
Flat C, 22/F, Block 3, Parc Palais, 18 Wylie Road, King’s Park, Ho Man
Tin, Kowloon, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
Y 210337(9) |
|
Date of Appointment: |
2014-9-18 |
|
4 |
|
|
Name: |
Citizen’s Secretarial Services Limited |
|
Address: |
14/F, Shanghai Industrial Investment Building, 48 Hennessy Road,
Wanchai, Hong Kong. |
|
Position: |
Company Secretary |
|
Company Number: |
32891 |
Former Director:
|
Name: |
Agarwal Pratik |
|
Address: |
Flat G, 11/F., Windsor Mansion, 29-31 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong. |
|
Position: |
Director |
|
ID Number: |
R 779683(7) |
|
Date of Resignation: |
2014-9-1 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
Rm. 1208, 12F, Tower 2,
Silver Cord, 30 Canton Rd., Tsim Sha Tsui, Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Rm. 1208, 12F, Tower 2, Silver Cord, 30 Canton Rd., Tsim Sha Tsui,
Kowloon, Hong Kong |
|
Owners: |
Niti International Limited |
|
Memorial Number: |
UB8503606 |
|
Date of Instrument: |
2001-09-10 |
|
Date of Registration: |
2001-10-03 |
|
Consideration Value: |
HKD 4,800,000.00 |
History
of Premises Owners’
|
1 |
|
|
Memorial No.: |
UB8503607 |
|
Date of Instrument: |
2001-09-10 |
|
Date of Registration: |
2001-10-03 |
|
Nature: |
Mortgage to Secure General Banking Facilities |
|
In Favor of: |
Bank of India |
|
Consideration: |
-- |
|
2 |
|
|
Memorial No.: |
UB8481280 |
|
Date of Instrument: |
2001-08-22 |
|
Date of Registration: |
2001-09-04 |
|
Nature: |
Agreement for Sale and Purchase |
|
In Favor of: |
Niti International Limited |
|
Consideration: |
HKD 4,800,000.00 |
|
3 |
|
|
Memorial No.: |
UB4704142 |
|
Date of Instrument: |
1991-01-31 |
|
Date of Registration: |
1991-02-06 |
|
Nature: |
Agreement for Sale and Purchase |
|
In Favor of: |
Howard Ocean Enterprises Limited |
|
Consideration: |
HKD 6,493,500.00 |
Production
Information
l
Subject is a trader of telecommunication equipment
without any production activities.
Purchase
Information
l
The products of the subject are purchased from both
home and abroad.
Sales
Information
l
Subject is engaged in sales of telecommunication
equipment, etc.
l
The major products are mobile phones, handsets, and
cellphones, media CDR & DVD-R, PC peripherals, etc.
l
Subject’s major sales regions are domestic market,
India, Singapore, Switzerland, Germany, United Kingdom, Turkey, UAE, etc.
l
Subject’s major customers are phone distributors,
etc.
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Telecommunication equipment, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Telecommunication equipment, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Telecommunication equipment, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Telecommunication equipment, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no obligation to supply its
financial statement to the third party according to the relevant policy in Hong
Kong and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff rejected to disclose the financial information,
and from other sources we could not obtain such information, either.
Bankers
Subject declined
to disclose its bank details; from other source we could not obtain the
relevant information, either.
Public
Mortgage
Record
|
Company Name: |
Niti International Limited |
|
Instrument of Creating Mortgage: |
General Letter of Hypothecation |
|
Date of Creating Mortgage: |
2013-12-02 |
|
Amount Secured: |
All the money now granted by the bank and the company now owing to the
bank, and inclusive of the monies which in future will be granted by the bank
and the company will become owing any such sums to the bank. |
|
Name of Mortgagee: |
Bank of India Kowloon Branch |
|
Address of Mortgagee: |
Unit 906-908, 9th Floor, Hong Kong Pacific Centre, No. 28
Hankow Road TST., Kowloon, Hong Kong. |
|
Description of Property Mortgaged: |
Bills of exchange, and /or invoices, or any other documents— (representing
or relating to goods. The company agrees that the same and all goods thereby
represented or to which the document relate shall be hypothecated by way of
first charge as a continuing security for all sums in which the company from
time to time be actually or contingently indebted or liable to bank on any
account. |
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Name: |
The Operator |
|
Department: |
Sales Department |
Industry
Information
76411-- Telephone sets, including
telephones for cellular networks or for other wireless networks (No.)
Unit: HKD/000
|
|
2014.12 |
2014.01~2014.12 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Taiwan |
70,114 |
278,618 |
1,140,351 |
3,077,231 |
|
South Korea |
199,183 |
123,679,2 |
943,403 |
3,015,973 |
|
176,727 |
47,411 |
495,769 |
214,620 |
|
|
Japan |
440,046 |
836,690 |
2,623,946 |
4,615,384 |
|
Malaysia |
22,228 |
23,450 |
288,266 |
450,146 |
|
Netherlands |
160,970 |
245,688,1 |
792,217 |
2,560,718 |
|
Singapore |
179,275 |
624,981 |
2,189,178 |
5,273,173 |
|
Philippine |
26,503 |
9,186 |
134,635 |
88,958 |
|
Vietnam |
179,873 |
162,713,2 |
665,543 |
4,778,393 |
|
America |
1,817,642 |
1,934,651 |
18,052,573 |
22,067,904 |
|
The Mainland of China |
39,959,691 |
12,631,719 |
170,662,710 |
56,156,018 |
|
Exports |
||||
|
United Arab Emirates |
1,409,099 |
1,038,837 14 |
332,310 |
10,344,640 |
|
German |
442,158 |
292,107 |
5,625,839 |
3,954,062 |
|
Bangladesh |
2,122,230 |
216,245,18 |
685,351 |
2,597,784 |
|
Republic of Costa Rica |
19 038 |
13,563 |
573 230 |
499,075 |
|
Brazil |
278,564 |
24,880 |
4,023,896 |
454,911 |
|
Australia |
244,036 |
166,815 |
2,033,317 |
1,441,423 |
|
Colombia |
426,477 |
255,411 |
5,033,137 |
2,825,678 |
|
Canada |
48,200 |
21,483 |
1 140,730 |
872,450 |
|
Switzerland |
48,993 |
28,348 |
461,780 |
288,854 |
|
Chile |
106,023 |
29,953 |
3,383,493 |
1,290,255 |
|
The Mainland of China |
1,501,690 |
1,828,935 17 |
671,152 |
23,555,306 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Address: Rm. 1208, 12F, Tower 2, Silver
Cord, 30 Canton Rd., Tsim Sha Tsui, Kowloon, Hong Kong
Silver Cord, 30 Canton Rd., Tsim Sha Tsui, Kowloon, Hong Kong
Tower 2, Silver Cord, 30 Canton Rd., Tsim Sha Tsui, Kowloon, Hong Kong
12F, Tower 2, Silver Cord, 30 Canton Rd., Tsim Sha Tsui, Kowloon, Hong
Kong
Rm. 1208, 12F, Tower 2, Silver Cord, 30 Canton Rd., Tsim Sha Tsui,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
UK Pound |
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
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.