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Report No. : |
307253 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TRADING GIAMMINOLA HONG KONG LTD. |
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Registered Office : |
c/o Asia
Secretarial Services Ltd. Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui,
Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.09.2008 |
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Com. Reg. No.: |
39790525 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any sources] |
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No. of Employee : |
No employees in Hong Kong NOTE: It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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Status : |
No operating office in Hong Kong |
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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 |
|
Insignificant |
A1 |
|
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 |
INTERNATIONAL TRADING
GIAMMINOLA HONG KONG
LTD.
Registered Office:-
c/o Asia
Secretarial Services Ltd.
Unit 1010, 10/F.,
Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
Associated Company:-
Giamminola
(Shanghai) Co. Ltd.
Rm. 101, Block C2,
No. 6000 Shenzhuangong Road, Songjiang District, Shanghai, 201619 China.
[Tel: 86-21-6785 5000
Fax: 86 -21-6785 5001
E-mail: info@itg-china.com]
Other Assiciated Companies:-
Filotex SRL,
Argentina.
Giamminola
(Shanghai) Co. Ltd., China.
Giamminola Do
Brasil Ltda., Brazil.
Giamminola T.Q.C.
Hongkong Ltd., Hong Kong. (Same address)
Giorgio Giamminola
& C.SpA, Italy.
I.T.G. Argentina
S.R.L., Argentina.
I.T.G. Chile
Ltda., Chile.
I.T.G. Colombia
S.A., Colombia.
Italcolore S.A.,
Argentina.
ITG De Guatemala
S.A., Guatemala.
ITG Mexico S.A. de
C.V., Mexico.
ITG Peru SRL, Peru.
39790525
1273124
Managing
Director: Mr. Roberto Giamminola
HK$10,000.00
(As per registry dated 16-09-2014)
|
Name |
|
No. of shares |
|
Roberto GIAMMINOLA |
|
10,000 ===== |
(As per registry dated 20-10-2014)
|
Name (Nationality) |
Address |
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Aristide Bernardino NOSENZO |
Room 9B, Yinli Building, 485 He Nan Road, Shanghai, China. |
|
Roberto GIAMMINOLA |
Room 9B, Yinli Building, 485 He Nan Road, Shanghai, China. |
|
Qi Lingling |
No. 260, Rutang Village, Wukunongyeyuan District, Songjiang District, Shanghai, China. |
(As per registry dated 16-09-2014)
|
Name |
Address |
Co. No. |
|
Asia Secretarial Services Ltd. |
Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. |
1401131 |
The subject was incorporated on 16th September, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit 3A, 5/F., Far East Consortium Building, 121 Des Voeux Road, Central, Hong Kong, moved to the present address in 22nd November, 2012. Both addresses belong to commercial secretarial firms.
Apart from these, neither material change nor amendment has been ever traced and noted.
Having issued 10,000 ordinary shares of HK$1.00 each, International Trading Giamminola Hong Kong Ltd. is wholly owned by Roberto Giamminola who is an Italian. He is an Italy passport holder and currently residing in Shanghai, China.
The directors of the subject are Aristide Bernardino Nosenzo, Roberto Giamminola and Ms. Qi Lingling. The third is a China businesswoman who was appointed on 20th October, 2014.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong” known as “Asia Secretarial Services Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject has had an associated company Giamminola (Shanghai) Co. Ltd. [Giamminola Shanghai] which is in Songjiang District, Shanghai, China. The phone and fax number of Giamminola Shanghai are +86-21-6785 5000 and 86 -21-6785 5001 respectively.
The subject and Giamminola Shanghai are members of the Giamminola Group. The Shanghai company was incorporated on 6th October, 2008.
Employing about 30 persons, Giamminola Shanghai is in charge of products manufacturing, products sourcing, quality controlling and even products distribution.
Giamminola Shanghai
is trading in the following commodities:-
More than 12,000 products and 500 suppliers are managed by Giamminola Shanghai through a customized “ERP system” that is able to ensure the Giamminola Group companies and their customers enjoy a high quality of supplies and professional service.
In 2011, Giamminola Shanghai was certified ISO 9001:2008 by the German TÜV.
The Giamminola Group was founded in 1955 in Como, Italy. It is specialized in the supply of spare parts, accessories and machinery for the weaving industry.
The Group has expanded its business in the Nineties through Europe, Africa, Central and South America, establishing technical - commercial companies in order to guarantee better assistance and local presence to its customers.
Also, in Argentina, the Group has invested in two industrial realities: Filotex S R L (warping and supplying of yarn) and Italcolore S A (dyeing and finishing). In 2010 it opened in China the first center for quality control of fabrics, based on European standards, with the aim to further expand the range of services offered.
The Giamminola Group has been present in China for over fifteen years.
The Giamminola Group is comprised of twelve companies.
The subject’s business in Hong Kong is not active. History in Hong Kong is over six years and four months.
Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.