MIRA INFORM REPORT
|
Report No. : |
319186 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BABA EXIM LIMITED |
|
|
|
|
Registered Office : |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
07.07.2006 |
|
|
|
|
Com. Reg. No.: |
1057802 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of Mobile Phones. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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: |
BABA EXIM LIMITED |
|
Supplied Name: |
BABA EXIM LTD |
|
Trading Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
|
Supplied Address: |
19/Fl Eu Yan Sang Tower 115 Chatham Road South TST Kawloon |
Note: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2722-4630/9163-8977 |
|
Fax Number: |
+852-2369-1155 |
|
Date of Registration: |
2006-7-7 |
|
Registered Number: |
1057802 |
|
Business Registration No.: |
36967870 |
|
Paid-up Capital: |
HKD 4,000,000 (USD 516,000) = 4,000,000
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 mobile phones, etc. |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-7-7 |
Note: Subject declined to disclose its staff
number, and from other source we can’t obtain the information, either.
History
Subject was incorporated on 2006-7-7 with the
registered number 1057802 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Major Related Company
|
Name: |
Ningbo Global (HK) Limited |
|
Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
|
Date of Registration: |
2012-7-25 |
|
Registered Number: |
1778253 |
|
Business Registration No.: |
60139485 |
|
Legal Form: |
Private Limited Liability Company |
|
Telephone Number: |
+852-2722-4630/9163-8977 |
|
Fax Number: |
+852-2369-1155 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Kumar Vinod |
4,000,000 |
100% |
|
Total |
4,000,000 |
100% |
Major Shareholder Information:
|
Name: |
Kumar Vinod |
|
Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
Management Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Kumar Vinod |
|
Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P076252(4) |
|
2 |
|
|
Name: |
Taxbase Consultants Limited |
|
Address: |
Room 1408, 14/F., Hollywood Plaza, 610
Nathan Road, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
411324 |
Operation Information
Offices & Factories
|
|
Office |
|
Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Unit A On 19th Floor, Eu Yan Sang Tower,
Nos.11/15 Chatham Road South, Kowloon |
|
Owners: |
Rani, Bela (Joint Tenant) |
|
Memorial Number: |
UB9422050 |
|
Date of Instrument: |
2004-11-30 |
|
Date of Registration: |
2004-12-22 |
|
Consideration Value: |
HKD 7,000,000.00 (PT.) |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
11070500730072 |
|
Date of Instrument: |
2010-3-25 |
|
Date of Registration: |
2011-7-5 |
|
Nature: |
Order No. UBZ/U17-10/0013/09 by the building
authority under section 24(1) of the buildings ordinance |
|
In Favor of: |
-- |
|
Consideration: |
-- |
|
2 |
|
|
Memorial No.: |
09040702140113 |
|
Date of Instrument: |
2009-3-27 |
|
Date of Registration: |
2009-4-7 |
|
Nature: |
Mortgage |
|
In Favor of: |
Bank OF Baroda |
|
Consideration: |
All Monies (PT.) |
|
3 |
|
|
Memorial No.: |
UB9320576 |
|
Date of Instrument: |
2004-9-7 |
|
Date of Registration: |
2004-9-9 |
|
Nature: |
Agreement for Sale and Purchase Remarks: see assignment M/N 9422050 |
|
In Favor of: |
Kumar, Vinod Rani, Bela
(Joint Tenant) |
|
Consideration: |
HKD 7,000,000.00 (PT.) |
Note: PT. means Part of.
Production Information
Subject is a trader of mobile phones, etc.
without any production capacity.
Purchase Information
Subject’s products are purchased from both
home and abroad, such as Hong Kong local market, USA, Japan and South Korea.
Sales Information
Subject is engaged in sale of mobile phones.
Subject’s major products are mobile phones,
Apple ipad and Apple ipod and so on.
It is introduced that subject sells the
products with the brands of iPhone, LG and Samsung,.
Subject’s sale regions include Mainland China,
Southeast Asia and India.
Subject’s major customers are retailers of
mobile phones, Supermarket and Stores.
Settlements
Purchase
Domestic Purchase
|
Products |
Mobile phones |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Mobile phones |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Mobile phones |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Mobile phones |
|
Selling Terms |
L/C, T/T |
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; from other sources we could not obtain such
information, either.
Bankers
|
1 |
|
|
Name: |
Bank of India Kowloon Branch |
|
2 |
|
|
Name: |
Indian Overseas Bank, Tsim Sha Tsui Branch |
Public
Mortgage Record
|
1 |
|
|
Company Name: |
Baba Exim Limited |
|
Instrument of Creating Mortgage: |
General Letter of Hypothecation |
|
Date of Creating Mortgage: |
2013-2-21 |
|
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. |
|
2 |
|
|
Company Name: |
Baba Exim Limited (“the Borrower”) |
|
Instrument of Creating Mortgage: |
Hypothecation of Tangible Moveable Property
(L448) |
|
Date of Creating Mortgage: |
2013-2-21 |
|
Amount Secured: |
US$ 1,800,000.00 (US Dollars One Million Eight
Hundred Thousand Only). |
|
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: |
All tangible movable assets of borrower
including in particular stocks of all goods of Mobile Phones, Computer spare
parts, Watches Meta Scrap, furniture and fixtures and plant & machinery
etc., wheresoever situate and/or in transit. Including therein the stocks thereof for
time being whether raw or manufactured or in process of manufacture. And also
all producers goods and any and every tangible moveable property of the
Borrower whether now lying or at any time hereafter during the continuance of
this security lying or being in or about the Borrower's premises and godowns
at Flat 11-15, 19th Floor, EU Yan Sang Tower, 11 Chatham Road South TST
Kowloon or wherever else the same may be or be held by any party anywhere to
the order and disposition of the Borrower or in course of transit to the
Borrower (all or which are hereinafter called “the hypothecated goods"). |
|
3 |
|
|
Company Name: |
Baba Exim Limited (“the Borrower”) |
|
Instrument of Creating Mortgage: |
Charge of Hypothecation of Book Debts
(CC.531) |
|
Date of Creating Mortgage: |
2013-2-21 |
|
Amount Secured: |
US$ 1,800,000.00 (US Dollars One Million
Eight Hundred Thousand Only). |
|
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: |
Hypothecate and charge to the Bank by way of
charge on all the book debts outstandings, moneys receivable, claims and
bills which are now due and owing or which may at any time hereafter during
the continuance of this security become due and owing to “the borrower” in
the course of its business by any person, company or by the Government or any
local or public body or authority (all of which are hereinafter collectively
referred to as “the said debts”} as security for the due payment to Bank at
any time on demand at Hong Kong. |
|
4 |
|
|
Company Name: |
Baba Exim Limited |
|
Instrument of Creating Mortgage: |
Undertaking relating to deposits |
|
Date of Creating Mortgage: |
2012-12-31 |
|
Amount Secured: |
“LIABILITIES” meaning all liabilities, sole
or joint, actual or contingent quantified or not, now or hereafter owing or
incurred to the Bank by the depositor or Third Party. “Third Party"
meaning parties / firms or companies (if any) shown in the Undertaking
therein and any other person or persons now or hereafter designated by the
depositor in writing as a third party for the purpose of this undertaking. |
|
Name of Mortgagee: |
Indian Overseas Bank, Tsim Sha Tsui Branch |
|
Address of Mortgagee: |
2109-2110, Miramar Tower, 21/F, 132 Nathan
Road, Tsim Sha Tsui, Kowloon, Hong Kong |
|
Description of Property Mortgaged: |
No. of receipt: 2012 FD 266 Date of receipt: 2012-12-28 Amount of Deposit: HKD 2,450,000 Rate of interest: 0.60% Maturity date of Deposit: 2013-6-26 |
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
|
Department: |
Sales Department |
|
Email: |
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: 19/F., Eu Yan Sang Tower, 11-15 Chatham Road
South, Tsimshatsui, Kowloon, Hong Kong
Eu Yan Sang Tower, 11-15 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong
1/F., Eu Yan Sang Tower, 11-15 Chatham Road
South, Tsimshatsui, Kowloon, Hong Kong
19/F., Eu Yan Sang Tower, 11-15 Chatham Road
South, Tsimshatsui, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.00 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.