MIRA INFORM REPORT
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Report No. : |
319188 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
NINGBO GLOBAL (HK) LIMITED |
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Registered Office : |
19/F, Eu Yan Sang Tower, 11-15 Chatham Road South, Timshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
25.07.2012 |
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Com. Reg. No.: |
1778253 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in sales of Ceramic Tiles, Textile, Copier Paper,
Steels Products, Porcelain Tiles, sanitary ware, Agro Products, Chemical, and
Olive Oil. |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Moderate |
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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) |
|
Hong Kong |
A1 |
A1 |
|
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 |
Contact Points
|
Company Name: |
NINGBO GLOBAL (HK) LIMITED |
|
Supplied Name: |
NINGBO GLOBAL (HK) LTD |
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Trading Address: |
19/F, Eu Yan Sang Tower, 11-15 Chatham Road South, Timshatsui,
Kowloon, Hong Kong |
|
Supplied Address: |
19/Fl, Eu Yan Sang Tower, 11-15 Chatham Road South, T.S.T. Kowloon |
Note: The exact name and address are as above.
Special Note
We made an on-site visit to the supplied address,
and confirmed that the subject was at location. However, the subject didn’t
have its own name plate on the wall, the name plate we found belongs to
subject’s related company.
We contacted with the subject through the telephone
number +852-2722-4630 obtained from public files, the relevant staff who
answered the phone just confirmed subject’s name and address for us, he also
introduced that the company named “Baba Exim Limited” which is mainly engaged
in sales of cell phone and etc is subject’s related company, however, he
refused to disclose further information for us.
We found subject’s
registration information as follows for reference.
Company Identification Details
|
Registered Name: |
|
|
Registered Address: |
19/F, Eu Yan Sang Tower, 11-15 Chatham
Road South, Timshatsui, Kowloon, Hong Kong |
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Telephone Number: |
+852-2722-4630/9163-8977 |
|
Fax Number: |
+852-2369-1155 |
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Date of Registration: |
2012-7-25 |
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Registered Number: |
1778253 |
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Business Registration No.: |
60139485 |
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Registered Capital: |
HKD 7,800,000 (USD 1,006,200) (As of 2015.04, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 7,800,000 (USD 1,006,200) = 7,800,000 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
N/A |
|
Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2013-7-25 |
Notes: Subject declined
to disclose its staff number and operation information for us,
the relevant information is not available from any sources.
History
Subject was incorporated on 2012-7-25 with the registered number 1778253
as Private Limited Liability Company in Hong Kong.
Change of Capital:
Particulars of the increase are as follows:
Unit: HKD
|
Date of Resolution |
Registered Capital |
Amount of Additional Capital |
New Amount of Total Registered Capital |
|
2013-12-16 |
100,000 |
7,700,000 |
7,800,000 |
Corporate Structure
Related Company
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Name: |
Baba Exim Limited |
|
Address: |
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong |
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Telephone Number: |
+852-2722-4630/9163-8977 |
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Fax Number: |
+852-2369-1155 |
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Date of Registration: |
2006-7-7 |
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Registered Number: |
1057802 |
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Business Registration No.: |
36967870 |
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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 |
|
Principal Activities: |
Trading of mobile phones, etc. |
Shareholders
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Kumar Vinod |
7,800,000 |
100% |
|
Total |
7,800,000 |
100% |
Major Shareholder
Information:
|
Name: |
Kumar Vinod |
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Address: |
12/F, Flat-F, Seaview Mansion, 5-7 Chatham Road South, Timshatsui,
Kowloon, Hong Kong |
Management Information
Core Management
Detailed
Information of Directors:
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1 |
|
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Name: |
Kumar Vinod |
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Address: |
12/F, Flat-F, Seaview Mansion, 5-7 Chatham Road South, Timshatsui,
Kowloon, Hong Kong |
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Position: |
Director |
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Passport Number: |
P076252(4) |
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2 |
|
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Name: |
Akin Professionals Limited |
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Address: |
20/F, Champion Building, 287-291 Des Voeux Road Central Sheung Wan
Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1273165 |
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Date of Appointment: |
2014-6-6 |
Former Directors:
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1 |
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Name: |
Cbest Solutions Limited |
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Position: |
Corporate Secretary |
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Date of Resignation: |
2013-6-20 |
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2 |
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Name: |
Taxbase Consultants Limited |
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Address: |
Room 1408, 14/FL, Hollywood Plaza, 610 Nathan Road, Kolwoon, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
411324 |
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Date of Appointment: |
2013-6-20 |
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Date of Resignation: |
2014-6-6 |
Operation Information
Offices & Factories
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|
Office |
|
Address: |
19/F, Eu Yan Sang Tower, 11-15 Chatham Road South, Timshatsui,
Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Unit A On 19th Floor, Eu Yan Sang Tower, Nos.11/15 Chatham Road South,
Kowloon |
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Owners: |
Rani, Bela
(Joint Tenant) |
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Memorial Number: |
UB9422050 |
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Date of Instrument: |
2004-11-30 |
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Date of Registration: |
2004-12-22 |
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Consideration Value: |
HKD 7,000,000.00 (PT.) |
History of Premises Owners’
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1 |
|
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Memorial No.: |
11070500730072 |
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Date of Instrument: |
2010-3-25 |
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Date of Registration: |
2011-7-5 |
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Nature: |
Order No. UBZ/U17-10/0013/09 by the building authority under section
24(1) of the buildings ordinance |
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In Favor of: |
-- |
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Consideration: |
-- |
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2 |
|
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Memorial No.: |
09040702140113 |
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Date of Instrument: |
2009-3-27 |
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Date of Registration: |
2009-4-7 |
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Nature: |
Mortgage |
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In Favor of: |
Bank OF Baroda |
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Consideration: |
All Monies (PT.) |
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3 |
|
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Memorial No.: |
UB9320576 |
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Date of Instrument: |
2004-9-7 |
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Date of Registration: |
2004-9-9 |
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Nature: |
Agreement for Sale and Purchase Remarks: see assignment M/N 9422050 |
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In Favor of: |
Kumar, Vinod Rani, Bela (Joint Tenant) |
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Consideration: |
HKD 7,000,000.00 (PT.) |
Note: PT. means Part of.
Operation
Information
From the public files, we found subject’s operation information as
following:
The subject is mainly engaged in sales of Ceramic Tiles, Textile, Copier
Paper, Steels Products, Porcelain Tiles, sanitary ware, Agro Products,
Chemical, and Olive Oil.
Since the subject refused to confirm the above information for us, the
operation information is not available from any sources.
Settlements
Since the subject refused to its settlements information, the relevant
information is not available from any sources.
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
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage records of subject were found.
Lawsuits
Up to now, no present or latent litigation of the subject has been
found.
|
High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
We made an on-site visit to the supplied address, and confirmed that the
subject was at location. However, the subject didn’t have its own name plate on
the wall, the name plate we found belongs to subject’s related company.
Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon, Hong
Kong
%20LIMITED%20-%20319188%2030-Apr-2015_files/image010.jpg)
1/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui, Kowloon,
Hong Kong
%20LIMITED%20-%20319188%2030-Apr-2015_files/image011.jpg)
19/F., Eu Yan Sang Tower, 11-15 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong
%20LIMITED%20-%20319188%2030-Apr-2015_files/image012.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.00 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
|
|
|
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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 |
|
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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 |
|
|
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 |
-- |
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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.