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Report No. : |
304634 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
URIGHT TRADING (HK) CO. LTD. |
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Registered Office : |
Flat C, 15/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.12.2001 |
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Com. Reg. No.: |
32238780 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All Kinds of Fabrics, Textile
Products. |
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No. of Employee : |
2 |
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 – 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 |
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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 |
URIGHT TRADING (HK) CO. LTD.
ADDRESS: Flat C, 15/F., Tsim
Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2723 1007
FAX: 852-2723 1017
E-MAIL: ekram@netvigator.com
Managing Director: Mr. Haque
Talukder Md. Mahbubul
Incorporated on: 3rd December, 2001.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
URIGHT TRADING (HK) CO. LTD.
Registered Head
Office:-
Flat C, 15/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Companies:-
Zhong You Tours & Business Ltd., Bangladesh.
Zhong You Trading Co. Ltd., Hong Kong.
(Same address)
32238780
0778075
Managing Director: Mr. Haque
Talukder Md. Mahbubul
HK$10,000.00
(As per registry dated 03-12-2014)
|
Name |
|
No. of shares |
|
Haque Talukder MD. MAHBUBUL |
|
9,000 |
|
Saad-Ferdousi FARAH |
|
1,000 |
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|
––––– |
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Total: |
10,000 ===== |
(As per registry dated 03-12-2014)
|
Name (Nationality) |
Address |
|
Haque Talkuder MD. MAHBUBUL |
Zilla Road, Akur Takur Para, P.O. + Dist: Tangail, Bangladesh. |
|
Saad-Ferdousi FARAH |
House-23, Section-3, Road 16, Uttara Model Town, Bangladesh. |
(As per registry dated 03-12-2014)
|
Name |
Address |
Co. No. |
|
Hashmi Secretarial Services Ltd. |
Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong. |
0770656 |
The subject was incorporated on 3rd December, 2001 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: All kinds of
fabrics, textile products.
Employees: 2.
Commodities Imported: China, other
Asian countries.
Markets: Bangladesh,
other Asian countries.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
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: Small.
Uright Trading (HK) Co. Ltd. was incorporated on 3rd December, 2001 as a
private limited liability company.
The subject’s registered address is in a private building located at
Flat C, 15/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon,
Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each of which 90% are owned by Mr. Haque
Talukder Md. Mahbubul, 10% are owned by Saad-Ferdousi Farah. Both are Bangladesh passport holders and they
are also directors of the subject.
The subject has had an associated company Zhong You Trading Co. Ltd.
[Zhong You], a Hong Kong-registered company located at the same address.
The subject and Zhong You are engaged in the same lines of business.
The subject is engaged in exporting all kinds of woven fabrics from
mainland China to other countries. It
has an office in China for sourcing commodities and is able to ensure the
quality of the products and delivery on time.
The subject is trading in the following commodities:-
1.
100% Cotton ◦SOLID - 68X68/30X30
- 42/3
2.
T/C SOLID/PLAIN - 110X76/45X45 - 44/5”
3.
CVC SOLID -
110X76/45X45 - 44/5”
4.
4.80% CTN/20% POLY ◦Y/D.DOBBY MOVING SURFACE
- 130X80/40X(40+100D) - 57/8
5.
5.70% CTN/30% POLY ◦Y/D.DOBBY MOVING SURFACE
- 120X80/40X(40+100D) - 57/8
6.
55% RAMIE / 45% COTTON
7.
80% COTTON/ 20% LINEN
8.
55% LINEN / 45% COTTON
9.
100% LINEN
10.
100% COTTON DENIM
11.
100% CTN TWILL
12.
100% CTN CORDUROY
13.
100% CTN JACQUARD
14.
100% CTN FLANNEL
15.
100% CTN PRINT
16.
100% RAYON/VISCOSE
17.
100% POLYESTER
18.
70% POLYNOSIC/ 30% POLYESTER
The followings are
some of its business partners:-
C&A, TESCO, PRIMARK, CARREFOUR, ALDI, DICKIES, MILES, NKD, COLIN’S,
PIZZA ITALIA, US POLO, POINT ZERO, KIK, DUNNES STORES, GEORGE, LI & FUNG,
BURTON’S, KIABI.
The business of the subject is rather active. Regular suppliers and customers have been
maintained.
As the history of the subject is over thirteen years in Hong Kong, on
the whole, consider it good for normal credit requirements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
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 |
|
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 |
|
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.