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Report No. : |
303238 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
NOI INTERNATIONAL LTD. |
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Registered Office : |
Room 1017, 10/F., Liberal Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.08.2014 |
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Com. Reg. No.: |
63665946 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged
in trading of Garments, Textile
Products, Fabrics, Electronic Products, General Household Accessories such as
Razors & Shaving Blades |
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No of Employees : |
02 |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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) |
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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.
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Source
: CIA |
NOI INTERNATIONAL
LTD.
Room 1017, 10/F., Liberal Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: Not available
Managing Director: Mr. So Wah Lok, Harry
Incorporated on: 5th August, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1017, 10/F., Liberal Factory Building, 3 Wing Ming Street, Cheung Sha Wan, Kowloon, Hong Kong.
63665946
2128938
Managing Director: Mr. So Wah Lok, Harry
HK$10,000.00
(As per registry
dated 05-08-2014)
|
Name |
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No.
of shares |
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Indiandirectory.
HK Ltd., Hong Kong |
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1 |
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Amit
BHALLA |
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4,999 |
|
SO Wah Lok, Harry |
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5,000 |
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Total: |
10,000 ===== |
(As per registry
dated 05-08-2014)
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Name (Nationality) |
Address |
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Amit BHALLA |
Flat B, 11/F., Tower 9, Carmel
Cove, Caribbean Coast, 1 Kin Tung Road, Tung Chung, Lantau Island, Hong Kong. |
|
SO Wah Lok,
Harry |
Room 1714, Lung On House, Wong
Tai Sin, Kowloon, Hong Kong. |
(As per registry
dated 05-08-2014)
|
Name |
Address |
Co.
No. |
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Buttar Secretarial Services Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai
Chung, New Territories, Hong Kong. |
1906147 |
The subject was incorporated on 5th August, 2014 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit N, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong where was the operating office of a commercial service provider known as Buttar.HK Ltd.
The subject moved to the present address with effect from 25th September, 2014.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Garments, household accessories
Employees: 2.
Commodities Imported: China, other Asian countries, etc.
Markets: Asian countries, Europe, North America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C or as per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Unknown
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Noi International Ltd. is almost equally owned by Mr. Amit Bhalla and Mr. So Wah Lok, Harry. They are also directors of the subject. Being an India merchant, Amit Bhalla is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently. He has been in Hong Kong for a very long time before setting up the subject.
So Wah Lok, Harry is a Hong Kong businessman.
The
subject is trading in the following commodities: garments, textile products,
fabrics, electronic products, general household accessories such as razors
& shaving blades
Most of the commodities are sourced from China or acquired from local suppliers. Business is still under development.
Graduated from Delhi University, Amit Bhalla had worked in Newry Ltd. and Malhotra Marketing (Pvt) Ltd. before set up the subject in August, 2014.
The business of the subject is chiefly handled by the two shareholders. History in Hong Kong is just over five 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.61.85 |
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UK Pound |
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs
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.