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Report No. : |
351633 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASIA POLYMET CO. LTD. |
|
|
|
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Registered Office : |
Room
435, 4/F., Beverley Commercial Building, 87-105 Chatham Road, Tsimshatsui,
Kowloon |
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|
|
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Country : |
Hong Kong |
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|
|
|
Date of Incorporation : |
25.05.2007 |
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|
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Com. Reg. No.: |
37998127 |
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|
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Legal Form : |
Private Limited Company. |
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|
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Line of Business : |
Importer,
exporter and wholesaler of LED lighting products, furniture, tiles, mosaic
tiles, marble products, PVC sheets, acrylic plastic sheets, mobile phones |
|
|
|
|
No. of Employee : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Your is not in Hong Kong. It is in India.
ASIA POLYMET
CO. LTD.
Room 435, 4/F., Beverley Commercial Building,
87-105 Chatham Road, Tsimshatsui,
Kowloon, Hong Kong.
PHONE: 852-9434 2876
E-MAIL: anil@concordasia.net
MANAGEMENT:
Managing Director: Mr. Sudhir Anil Kumar
Incorporated on: 25th
May, 2007.
Organization:
Private Limited
Company.
Issued Share Capital: HK$2.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
5.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 435, 4/F., Beverley Commercial Building,
87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.
Business Name:-
Voyager International, Hong Kong. [BR No.: 37998127-001]
Eureka Exports, Hong Kong. [BR No.: 37998127-002]
Metforge (HK) Co., Hong Kong. [BR No.: 37998127-003]
Concord Asia (Mfrs & Exporters) Co., Hong
Kong.
[BR No.: 37998127-004]
Associated Companies:-
Acrylic Sheet World Inc., India.
Duraflow Plastics, Bangladesh.
Sivalik Enterprises Pvt. Ltd., India.
37998127
1135651
Managing Director: Mr. Sudhir Anil Kumar
(Mobile Phone No.: 852-9434 2876)
HK$2.00
(As per registry dated 25-05-2015)
|
Name |
|
No. of shares |
|
Sudhir Anil KUMAR |
|
1 |
|
Swati AGARWAL |
|
1 |
|
|
|
– |
|
|
Total: |
2 = |
(As per registry dated 25-05-2015)
|
Name (Nationality) |
Address |
|
Sudhir Anil KUMAR |
Flat F, 5/F., Ilford Court, Perth Garden,
5-7 Perth Street, Ho Man Tin, Kowloon, Hong Kong. |
(As per registry dated 25-05-2015)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux
Road Central, Sheung Wan, Hong Kong. |
1273165 |
The subject was incorporated on 25th May,
2007 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under
the name of Concord Asia Pte. Ltd., name changed to the present style on 2nd
January, 2008.
Apart from these, neither material change nor
amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: LED lighting
products, furniture, tiles, mosaic tiles, marble products, PVC sheets, acrylic
plastic sheets, mobile phones
Employees: 5.
Commodities Imported: China, other Asian countries
Markets: India, other Asian countries,
Europe, North America
Terms/Sales: L/C,
T/T
Terms/Buying:
L/C, T/T, D/P
Issued Share Capital: HK$2.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
Having issued just two ordinary shares of
HK$1.00 each, Asia Polymet Co. Ltd. is equally owned by Sudhir Anil Kumar and
Swati Agarwal, both are India merchants.
They are Hong Kong ID holders and have got the right to reside in Hong
Kong permanently.
We can reach Sudhir Anil Kumar at his Hong
Kong mobile phone number 852-9434 2876.
The subject has had the following business
names:-
Voyager International
Eureka Exports
Metforge (HK) Co.
Concord Asia (Mfrs & Exporters) Co.
The business names can be regarded as the
subsidiaries of the subject. All the
business names are located at the same address.
The subject is trading in the following
commodities:-
LED lighting products, decorative LED tree
lights, LED rope lights, furniture, tiles, mosaic tiles, marble products, PVC
sheets, acrylic plastic sheets, mobile phones, electronic products.
The subject’s Concord Asia (Mfrs &
Exporters) Co. is trading in plastic sheets such as cast acrylic plastic
sheets, PS sheets, PVC sheets, mirror sheets, design sheets.
Concord Asia (Mfrs & Exporters) Co. is in
Guangzhou City, Guangdong Province, China.
The subject has registered with the Office of
the Communications Authority (OFCA), The Government of Hong Kong SAR, the
People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00167280-RU. OFCA has approved the
subject to trade in mobile phones, smart phones.
Most of the products are sourced from China
and the other Asian countries. Prime
markets are India, other Asian countries, Europe, the Middle East and North
America.
Now, the subject has had associated companies
in China, India, and Bangladesh.
The subject’s business is chiefly handled by
Sudhir Anil Kumar. History in Hong Kong
is over eight years and six months.
On the whole, consider the subject good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
HKD |
1 |
Rs.8.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.