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Report No. : |
305694 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NOCHE RIAS MOND GROUP PVT. LTD. |
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Registered Office : |
Room 607, 6/F., Guard Force Centre, 3 Hok Yuen Street, Hung Hom, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
24.06.2013 |
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Com. Reg. No.: |
61632955 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF DVD PLAYER, GRAPHIC CARDS, MEMORY MODULES. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
A1 |
A1 |
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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 34.9 million
in 2012, 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 46.6% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4%
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.
|
Source
: CIA |
Your “‘1 Queens Road Wanchai Central’ is not correct. ‘1 Queen’s Road Central’ is the headquarters
of The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
NOCHE RIAS MOND
GROUP PVT. LTD.
ADDRESS: Room 607, 6/F., Guard Force
Centre, 3 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
PHONE: 852-2368 7218
FAX: 852-2724 2266
Managing Director: Mr. Mool Chand
Baid
Incorporated on: 24th June, 2013.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
NOCHE RIAS
MOND GROUP PVT.
LTD.
Registered Head
Office:-
Room 607, 6/F., Guard Force Centre, 3 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong.
Associated
Company:-
J N Exports, Hong Kong. (Same
address)
61632955
1927009
Managing Director: Mr. Mool Chand
Baid
HK$10,000.00
(As per registry dated 24-06-2014)
|
Name |
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No. of shares |
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Shivang BAID |
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5,000 |
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Mool Chand BAID |
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5,000 |
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––––– |
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Total: |
10,000 ===== |
(As per registry dated 24-06-2014)
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Name (Nationality) |
Address |
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Shivang BAID |
Flat E, 8/F., Imperial Building, 58 Canton Road, Tsimshatsui, Kowloon,
Hong Kong. |
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Mool Chand BAID |
Flat E, 8/F., Imperial Building, 58 Canton Road, Tsimshatsui, Kowloon,
Hong Kong. |
(As per registry dated 24-06-2014)
|
Name |
Address |
Co. No. |
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Datt Consultants |
Flat E, 8/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon,
Hong Kong. |
- |
The subject was incorporated on 24th June, 2013 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: DVD player,
graphic cards, memory modules.
Employees: 5.
Commodities Imported: China, local
suppliers, other Asian countries.
Markets: India, other
Asian countries, Europe, North America.
Terms/Sales: L/C or as per
contracted.
Terms/Buying: As per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small
profit in 2014.
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 Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Noche Rias Mond
Group Pvt. Ltd. is equally owned by Mr. Shivang Baid and Mr. Mool Chand Baid.
Both are Hong Kong ID holders and have got the right to reside in
Hong Kong permanently. They are
also directors of the subject. The two
Baids have been in Hong Kong for a very long time. They have got their IDs before setting up the
subject.
The subject has had an associated company J N Exports, a Hong
Kong-registered company located at the same address.
The subject and J N Exports are engaged in the same lines of business.
The subject is trading in the following commodities: DVD Player /
Recorder (For India market only), VCD Player (For India market only), Home
Theatre Equipment (Home theatre DVD player system for India market only),
Computer Function Card (MPEG card for India market only), Emergency Light,
Satellite Antenna & Satellite Receiver (Digital satellite receiver, LNB),
Rechargeable Cell, Cassette Recorder Mechanism (VCD loader for India market
only), Audio & Video Systems for cars, Plastic Granule, Batteries.
Established on 30th November, 1990, J N Exports is jointly owned by
Mr. Mool Chand Baid and Mr. Nagesh Kumar Narda.
The business of the subject is chiefly handled by the two
shareholders. History in Hong Kong is
just over a year and seven months.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
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|
1 |
Rs.94.07 |
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Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.