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Report No. : |
303240 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASICLINE INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, |
|
|
|
|
Country : |
Hong Kong |
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|
|
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Date of Incorporation : |
17.08.1990 |
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|
|
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Com. Reg. No.: |
14008555 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Trading of garments Products include knitting dress vest, shirt, jeans |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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% 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 |
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
|
|
Supplied Name: |
BASICLINE INTERNATIONAL
LTD., |
|
Trading Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
|
Supplied Address: |
1218, PENINSULA CENTRE,67 MODY ROAD, TSIMSHATSUI EAST, KOWLOON, HONG KONG. |
Note: The exact name and address are as above.
We tried to contact subject through the phone +852-3552-5500, a relevant staff answered it and introduced subject’s operation and trading address as we supplied.
We will update on-site visit photos as soon as possible.
|
Registered Name: |
|
|
Registered Address: |
FLAT 1214-1218 PENINSULA CENTRE, 67 MODY ROAD, T.S.T., KOWLOON, HONG KONG |
|
Telephone Number: |
+852-3552-5500 |
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Fax Number: |
+852-3552-5501 |
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E-mail: |
|
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Date of Registration: |
1990-8-17 |
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Registered Number: |
285216 |
|
Business Registration No.: |
14008555 |
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Paid-up Capital: |
HKD 5,000,000 (USD 645,000) = 5,000,000 Shares@ HKD 1 (As of 2015.01, 1 HKD = 0.1290 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
84587--Articles of apparel, men's or boys', n.e.s., not knitted or crocheted (no.) |
|
Principal Activities: |
Trading of garments, etc |
|
Staff: |
About 10 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-17 |
Subject was incorporated on 1990-8-17 with the registered number 285216 as Private Limited Liability Company in Hong Kong.
Subject did not introduce whether it has any subsidiaries or branches; from other source we could not obtain the relevant information, either.
|
Subscription Shares |
Proportion of
Investment (%) |
|
|
Mirpuri Asha Prishotam |
2,483,000 |
49.66% |
|
Mirpuri Prishotam Ramchand |
2,517,000 |
50.34% |
|
Total |
5,000,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Mirpuri Asha Prishotam |
|
Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
|
2 |
|
|
Name: |
Mirpuri Prishotam Ramchand |
|
Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Mirpuri Asha Prishotam |
|
Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
|
Position: |
|
|
ID Number: |
R296779(A) |
|
2 |
|
|
Name: |
Mirpuri Prishotam Ramchand |
|
Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R256193(9) |
|
3 |
|
|
Name: |
Nihalchand Nari Valiram |
|
Address: |
6/F., Flat D, Booman House, 33-U, Jordan Road, Kowloon, Hong Kong |
|
Position: |
Secretary |
|
ID Number: |
K385226(1) |
Personnel Structure
|
Total Employees |
Offices & Factories
|
|
Office |
|
Address: |
Flat 1214-1218 Peninsula Centre, 67 Mody Road, T.S.T., Kowloon, Hong Kong |
Premises Information
Office address:
|
Address: |
Unit No.1214 on 12th Floor, Peninsula Centre, No.67 Mody Road, Kowloon |
|
Owners: |
Super Power Trading Limited |
|
Memorial Number: |
UB9062321 |
|
Date of Instrument: |
2003-11-6 |
|
Date of Registration: |
2003-11-25 |
|
Consideration Value: |
HKD 20,235,400.00 (PT.) |
History of Premises Owners’
|
1 |
|
|
Memorial No.: |
05040601420013 |
|
Date of Instrument: |
2005-3-15 |
|
Date of Registration: |
2005-4-6 |
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Nature: |
Management agreement Remarks: By the incorporated owners of peninsula centre |
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In Favor of: |
Guardian Property Management Limited (Manager) |
|
2 |
|
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Memorial No.: |
UB9062322 |
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Date of Instrument: |
2003-11-6 |
|
Date of Registration: |
2003-11-25 |
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Nature: |
Mortgage Remarks: The consideration is all moneys |
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In Favor of: |
DBS Bank (Hong Kong) Limited |
|
Consideration: |
(PT.) |
|
3 |
|
|
Memorial No.: |
UB9022275 |
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Date of Instrument: |
2003-10-8 |
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Date of Registration: |
2003-10-15 |
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Nature: |
Agreement for sale and purchase Remarks: See assignment m/n 9062321 |
|
In Favor of: |
Super Power Trading Limited |
|
Consideration: |
HKD 20,235,400.00 (PT.) |
Note: (PT.) means part of.
Production Information
Subject is a trader of garments, etc without any production activities.
Purchase Information
Subject purchases products mainly in Mainland China.
Sales Information
Subject is engaged in sale of garments, etc.
Subject’s major products include knitting dress vest, shirt, jeans and so on.
Subject’s sales regions include Asia, Europe and America, etc.
One of subject’s major foreign customers is Rama Imp. & Exp. Inc.
Purchase
Domestic Purchase
|
Products |
Garments, etc |
|
Payment Terms |
Cash, T/T, etc |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Garments, etc |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Garments, etc |
|
Selling Terms |
T/T, etc |
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information; from other sources we could not obtain such information, either.
|
Name: |
The Hongkong and Shanghai Banking Corporation Limited |
|
Date: |
2008-04-08 |
|
Court Name: |
Small Claim Tribunal |
|
Court No.: |
011056/08 |
|
Claimant: |
Basicline International Ltd. (SCTC011056/08) |
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Defendant: |
APL Co. Pte Ltd. |
|
Reason: |
Miscellaneous |
|
2 |
|
|
Date: |
2008-04-08 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
011057/08 |
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Claimant: |
Basicline International Ltd. (SCTC011057/08) |
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Defendant: |
APL Co. Pte Ltd. |
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Reason: |
Miscellaneous |
|
3 |
|
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Date: |
2008-04-08 |
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Court Name: |
Small Claim Tribunal |
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Court No.: |
011058/08 |
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Claimant: |
Basicline International Ltd. (SCTC011058/08) |
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Defendant: |
APL Co. Pte Ltd. |
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Reason: |
Miscellaneous |
Mortgage Record
|
Company Name: |
Basicline International Limited (the “Customer”) |
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Instrument of Creating Mortgage: |
Assignment of DC Proceeds re export bills restricted to other banks for negotiation/payment |
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Date of Creating Mortgage: |
2008-1-23 |
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Amount Secured: |
All loans or other advances made or to be made by the Bank to the Customer against documents submitted under a Documentary Credit, all monies and liabilities in any currency owing by the Customer to the Bank at any time, whether separately or jointly, actually or contingently, present or future, interest on all loans and advances and such monies and all expenses of the Bank in perfecting or enforcing the Assignment. |
|
Name of Mortgagee: |
The Hongkong and Shanghai Banking Corporation Limited |
|
Address of Mortgagee: |
No.1 Queen’s Road Central, Hong Kong |
|
Description of Property Mortgaged: |
By way of assignment or agreement to assign in each case as beneficial owner: all monies in any currency representing proceeds payable or to be paid to the Customer under the Documentary Credit, all the Customer’s right, title and interest on the said Documentary Credits and the benefit of all powers and remedies for enforcing the Documentary Credits (together the “Assigned Proceeds”) |
Interview Details
|
Position: |
Operator |
84587-- Articles of apparel, men's or boys', n.e.s., not knitted or crocheted (no.)
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Australia |
26 |
12 |
273 |
65 |
|
Belgium |
195 |
37 |
307 |
52 |
|
Switzerland |
56 |
136 |
404 |
887 |
|
Germany |
45 |
45 |
393 |
878 |
|
Spanish |
555 |
86 |
1,831 |
325 |
|
France |
80 |
62 |
1,002 |
722 |
|
Britain |
924 |
330 |
3,314 |
1,295 |
|
Italy |
752 |
902 |
3,626 |
4,008 |
|
Korea |
34 |
3 |
242 |
275 |
|
The Mainland of China |
192,038 |
11,315 |
733,322 |
43,102 |
|
Exports |
||||
|
France |
1 |
1 |
1 |
1 |
|
Macau |
-- |
-- |
47 |
36 |
|
-- |
-- |
183 |
142 |
|
|
USA |
15 |
3 |
171 |
161 |
|
The Mainland of China |
48 |
116 |
1,059 |
1,781 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
We will update on-site visit photos as soon as possible.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.