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Report No. : |
356441 |
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Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NICE QUALITY PACKAGING LTD. |
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Registered Office : |
Flat A & B, 3/F., Everwin Centre, 72 Hung To Road,
Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.12.2003 |
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Com. Reg. No.: |
34646846 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Printing company and its product include
Bar Code Products, Labels |
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No. of Employee : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
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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 12.5% 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 |
NICE QUALITY
PACKAGING LTD.
ADDRESS: Flat A & B, 3/F., Everwin Centre, 72
Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2344 3885
FAX: 852-2344 6835
MANAGEMENT:
Managing Director: Mr. Hui Chun Kong
Incorporated on: 24th
December, 2003.
Organization:
Private Limited Company.
Issued Share Capital: HK$100.00
Business Category: Printing company.
Employees:
30.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Flat A & B, 3/F., Everwin Centre, 72 Hung
To Road, Kwun Tong, Kowloon, Hong Kong.
Factory:-
Guangzhou Panyu Nice Quality Printing Co.
Ltd.
Mingjing Xianling Industrial Village, Hualong
Town, Panyu, Guangzhou, Guangdong Province, China.
[Tel: 86-20-8475 6383; Fax: 86-20-8475 6645]
Associated Companies:-
Hong Kong Kwun Tong Industries & Commerce
Association Ltd., Hong Kong.
Nice Quality Development Ltd., Hong Kong.
The Hong Kong Overseas Chinese Association of
Commerce Ltd., Hong Kong
34646846
0876991
Managing Director: Mr. Hui Chun Kong
HK$100.00
(As per registry dated 24-12-2014)
|
Name |
|
No. of shares |
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HUI Chun Kong |
|
53 |
|
YAU Tang Wai, Antony |
|
47 |
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––– |
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Total: |
100 === |
(As per registry dated 24-12-2014)
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Name (Nationality) |
Address |
|
YAU Tang Wai, Antony |
Flat C, 1/F., Block 7, Villa Concerto,
Symphony Bay, Ma On Shan, New Territories, Hong Kong. |
|
HUI Chun Kong |
Flat A & B, 3/F., Everwin Centre, 72
Hung To Road, Kwun Tong, Kowloon, Hong Kong. |
HUI Chun Kong (As per registry dated
24-12-2014)
The subject was incorporated on 24th December,
2003 as a private limited liability company under the Hong Kong Companies
Ordinance.
Originally the subject was registered under
the name of Million Wealthy Enterprises Ltd., name changed to the present style
on 2nd July, 2004.
Apart from these, neither material change nor
amendment has been ever traced and noted.
Activities: Printing
company.
Lines: Bar
Code Products, Labels
Employees: 30.
Commodities Imported: Southeast Asia, Europe
Markets:
Hong Kong,
China
Terms/Sales/Services: As per contracted.
Terms/Buying:
Various terms.
Issued Share Capital: HK$100.00
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 100 ordinary shares of HK$1.00
each, Nice Quality Packaging Ltd. is jointly owned by Mr. Hui Chun Kong,
holding 53% interests; and Mr. Yau Tang Wai, Antony, holding 47%. Being Hong Kong merchants, they are also
directors of the subject.
The subject is a printing company. It is engaged in the following business
scope: Bar Code / Label Printing, Offset Printing, Silk Screen Printing, Swing
Tickets, Woven Labels, Self-Adhesive Labels, Patches, Embroidery, Boxes..
Its factory known as Guangzhou Panyu Nice
Quality Printing Co. Ltd. was established in Hualong Town, Panyu, Guangzhou,
Guangdong Province, China in 1994. Its
floor area is about 70,000 sq.ft.
The legal representative of the China factory
is Mr. Hui Chun Mau who is a family of Mr. Hui Chun Kong.
Products are chiefly manufactured on OME
terms. Prime markets are Hong Kong
and China.
The subject has had the following customers:
Swarovski, American Classic, McGregor, Carlsberg.
The business of the subject is
satisfactory. History in Hong Kong is
over twelve years.
On the whole, consider the subject good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.55 |
|
Euro |
1 |
Rs.72.60 |
|
HKD |
1 |
Rs.8.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TRU |
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 |
-- |
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.