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Report No. : |
332610 |
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Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ATM TRADE INTERNATIONAL LTD. |
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Registered Office : |
Room 1001, 10/F., Kwong Fat Commercial
Building, 582-588 Canton Road, Yaumatei, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.02.2009 |
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Com. Reg. No.: |
50266595 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is trading in the following commodities: Building
hardware, Furniture & Furniture Hardware Fittings; Sanitary wares, Tiles,
Marble stones, Bath fittings, Bags, Shoes, Watches, Mobile & Mobile
accessories, LCD TV, LCD Monitor,
Laptop, Computer, Gift items & other small commodities |
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|
|
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No. of Employee : |
No employees in Hong Kong. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
ATM
TRADE INTERNATIONAL LTD.
ADDRESS
Registered
Office:-
c/o Midnight Sun (HK) Ltd.
Room 1001, 10/F., Kwong Fat Commercial
Building, 582-588 Canton Road, Yaumatei, Kowloon, Hong Kong.
[Phone: 2783
7456
Fax: 2783
7457]
China
Office:
Room 201, 178 South Street of Hang Yun,
Jichang Road, Guangzhou City, Guangdong Province, China.
[Tel / Fax:
86-20-3628 4411
Mobile:
86-1353 5017 009]
Main
Associated Company:
Tofazzal Trading
73/KA, Green Road, Tejgaon Dhaka – 1215
Bangladesh.
[Tel: 88-02-9116 352 Fax: 88-02-8143 690
Mobile:
88-0171 5603 520]
Other
Associated Companies:-
ATM Technology (BD) Ltd., Bangladesh.
Tumpa Moni Trade Syndicate, Bangladesh.
50266595
1305573
9th
February, 2009.
HK$10,000.00
(As per registry dated 09-02-2015)
|
Name |
|
No.
of shares |
|
Tofazzal ISLAM |
|
10,000 |
(As per registry dated 09-02-2015)
|
Name (Nationality) |
Address |
|
Tofazzal ISLAM |
138, Raza Bazar, Tejgaon, Dhaka-1215,
Bangladesh. |
(As per registry dated 09-02-2015)
|
Name |
Address |
|
Monju AHMED |
Room 1001, 10/F., Kwong Fat Commercial
Building, 582‑588 Canton Road, Yaumatei, Kowloon, Hong Kong. |
ATM Trade International Ltd. was
incorporated on 9th February, 2009 as a Private Limited Liability Company under
the Hong Kong Companies Ordinance.
The subject does not have its own operating
office. Its registered office is in a
commercial service firm located at ‘Room 1001, 10/F., Kwong Fat Commercial
Building, 582-588 Canton Road, Yaumatei, Kowloon, Hong Kong’ known as
‘Midnight Sun (HK) Ltd.’ which is handling its correspondences and documents.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are
wholly-owned by Mr. Tofazzal Islam who is a Bangladesh merchant. He is a Bangladesh passport holder and does not
have the right to reside in Hong Kong permanently. He is also the only director of the
subject. His registered address is in
Dhaka, Bangladesh.
The subject is trading in the following
commodities: Building hardware, Furniture & Furniture Hardware Fittings;
Sanitary wares, Tiles, Marble stones, Bath fittings, Bags, Shoes, Watches,
Mobile & Mobile accessories, LCD TV,
LCD Monitor, Laptop, Computer, Gift items & other small commodities.
Most of the products bear the brand name of
ATM.
Commodities are sourced from China, other
Asian countries, etc. Prime markets are
Asian countries and Bangladesh.
Besides, the subject is an experienced
industrial project’s service provider such as major generation power plants,
equipment to include project design, construction, operation and
maintenance. Solar power projects, Mini
Cement plants, Tiles projects, etc.
The subject also offers customers with
shipping, customs declaration and other logistic services.
The subject has had associated companies in
Bangladesh which are also operated by Tofazzal Islam. The significant company is Tofazzal Trading.
According to the subject, it has had over
2,000 suppliers in Asia while most of them are in China. It is able to provide customers with about
10,000 kinds of household products at ‘factory price’.
The subject has set up an office in
Guangzhou City, Guangdong Province, China.
Most of the time Tofazzal Islam is in Guangzhou City, handling the
business of the China Office.
The subject’s business in Hong Kong is not
active. History in Hong Kong is over six
years and five 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.