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Report No. : |
307866 |
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Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BYWAYS FAR EAST LTD. |
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Registered Office : |
Unit A – C, 1/F., Kai Centre, 36 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
23.04.2001 |
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Com. Reg. No.: |
31759289 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF LABELS, TICKETS. |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
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 |
BYWAYS FAR EAST LTD.
ADDRESS: Unit A – C, 1/F.,
Kai Centre, 36 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2797 0789
FAX: 852-2797 3960
Managing Director: Mr. Mark Paul
Cohen
Incorporated on: 23rd April,
2001.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 80.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BYWAYS FAR EAST
LTD.
Registered Head
Office:-
Unit A – C, 1/F., Kai Centre, 36 Hung To Road, Kwun Tong, Kowloon, Hong
Kong.
Holding Company:-
Byways Holdings Ltd., UK.
Associated
Companies:-
Byways India Pvt. Ltd., UK.
Byways Istanbul Etiket Aksesuar Pazarlama Ticaret A.S., Turkey.
Byways Ltd., UK.
Labelistic Ltd., UK.
31759289
0754489
Managing Director: Mr. Mark Paul
Cohen
General Manager: Mr. Alan Cheung
Contact Person: Ms. Sandy Ng
HK$10,000.00
(As per registry dated 23-04-2014)
|
Name |
|
No. of shares |
|
Byways Holdings Ltd. Suite 2, 1/F., Fountain House, 1A Elm Park, Stanmore, Middlesex, HA7
4AU, England. |
|
10,000 ===== |
(As per registry dated 22-12-2014)
|
Name (Nationality) |
Address |
|
Mark Paul COHEN |
House 1, La Caleta, 123 Tai Mong Tsai Road, Sai Kung (DD258 Lot 105G),
New Territories, Hong Kong. |
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Simon Andrew FREER |
Flat 11, Hunters Gate, Hunters Lane, Leavesden, Watford, WS25 7HG,
England. |
|
Clive Stephen SANFORD |
46 Chiddingfold, London, N12 7EY, England. |
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David Brian Timothy HYDE |
3 Carnation Close, Leighton Buzzard, Bedfordshire, LU7 3HW, United
Kingdom. |
(As per registry dated 23-04-2014)
|
Name |
Address |
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CHEUNG Nga Lun, Alan |
Unit A-C, 1/F., Kai Centre, 36 Hung To Road, Kwun Tong, Kowloon, Hong
Kong. |
The subject was incorporated on 23rd April, 2001 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Byways-Labelon
Far East Ltd., name changed to the present style on 8th December, 2003.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of
labels, tickets.
Employees: 80.
Commodities Imported: China, other
Asian countries.
Markets: Hong Kong,
China, Western Europe.
Terms/Sales: L/C, T/T.
Terms/Buying: L/C, T/T, D/P.
Issued Share Capital: HK$10,000.00
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 Hong Kong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Byways Far East
Ltd. is a wholly-owned subsidiary of Byways Holdings Ltd. which is a UK-based
company.
The managing director of the subject Mark Paul Cohen. He is a Hong Kong ID holder and has got the
right to reside in Hong Kong permanently.
The subject is a member of the Byways Group [Byways/Group].
Byways is a global company committed to supplying labelling, ticketing
and point of sale products required by retailers and manufacturers
worldwide. Its business has grown over
the years in line with its customers’ needs.
Its Head Office is based in the United Kingdom and other strategically
placed Production Centres throughout the world.
The followings are the products of the Group: Printed Labels, Care &
Composition Labels, Woven Labels, Swing Tickets & Accessories, Variable
Data Products, Packaging, etc.
The subject is the largest production site in the group with in excess
of 20,000 sq ft floor space. This
enables it to service the significant requirements of its clients based in the
Asia Pacific region and the Australasian markets.
The site encompasses customer service, production and warehouse
facilities and has staffing of almost 80.
The General Manager of the subject Mr. Alan Cheung is a
Hongkongnese. The history of the subject
in Hong Kong is over thirteen years and nine months.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.95.71 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
TPT |
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 |
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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.