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Report No. : |
324890 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
HYDRA IMP & EXP CO. (H.K.) LTD. |
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Registered Office : |
Flat E-1, 14/F., National Court, 242-252 Nathan Road, Jordan, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
26.03.2010 |
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Com. Reg. No.: |
51998703 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Textile Products, Garment Accessories |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 |
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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 40.7 million
in 2013, 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 48.5% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9%
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. As of year-end 2014, the Democracy
protests that began in late September probably will have some adverse effects
on economic growth, particularly retail sales.
|
Source
: CIA |
HYDRA IMP &
EXP CO. (H.K.) LTD.
ADDRESS: Flat E-1, 14/F.,
National Court, 242-252 Nathan Road, Jordan, Kowloon, Hong Kong.
PHONE: 852-2375 3676
FAX: 852-2375 3675
E-MAIL: hydrahk@biznetvigator.com
MANAGEMENT:
Managing Director: Mr. MD. Abdul
Halim
Incorporated on: 26th March, 2010.
Organization: Private Limited Company.
Issued Share Capital: HK$100,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1.
Main Dealing Banker: The Hong
Kong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
HYDRA IMP & EXP CO. (H.K.) LTD.
Registered Head
Office:-
Flat E-1, 14/F., National Court, 242-252 Nathan Road, Jordan, Kowloon,
Hong Kong.
Associated
Company:-
Hydra International
H-87, New Airport Road, Jahan Bhaban (2nd Floor), Banani, Dhaka-1213,
Bangladesh.
[Tel: 88-02-9881563
Fax: 88-02-9881474
E-mail: info@hydrabd.com
halim@hydrabd.com]
51998703
1436126
Managing Director: Mr. MD. Abdul
Halim
HK$100,000.00
(As per registry dated 26-03-2015)
|
Name |
|
No. of shares |
|
MD. Abdul HALIM |
|
100,000 ====== |
(As per registry dated 26-03-2015)
|
Name (Nationality) |
Address |
|
MD. Abuul HALIM |
Village: Sherapur, Post Office: Dhabaghata, Police Station: Boalmari,
District: Faridpur, Bangladesh |
(As per registry dated 26-03-2015)
|
Name |
Address |
|
Monju AHMED |
Room 1001, 10/F., Kwong Fat Commercial Building, |
The subject was incorporated on 26th March, 2010 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: Textile
Products, Garment Accessories.
Employee: 1.
Commodities Imported: China, other
Asian countries.
Markets: Bangladesh,
India, other Asian countries, Europe, North America.
Terms/Sales: L/C, T/T.
Terms/Buying: Prepayment, L/C.
MEMBERSHIP: The Hong Kong General Chamber of Commerce,
Hong Kong. [Membership No.
HKH0752]
Issued Share Capital: HK$100,000.00
Profit or Loss: Made small
profits in past two years.
Condition: Keeping in a normal
manner.
Facilities: Making rather active
use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 100,000 ordinary shares of HK$1.00 each, Hydra Imp &
Exp Co. (H.K.) Ltd. is wholly owned by Mr. MD. Abdul Halim.
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.
The subject’s registered address is in a residential building located at
‘Flat E-1, 14/F., National Court, 242-252 Nathan Road, Jordan, Kowloon, Hong
Kong’ where is the Hong Kong residence of MD. Abdul Halim. He can be reached at his Hong Kong mobile
phone number 852-6622 9172.
The residential building is not trespassed by outsiders.
The subject is trading in garment accessories, buckles, buttons,
zippers, zipper raw materials, etc.
Commodities are sourced from China, the other Asian countries.
The subject’s associated company Hydra International started business in
1999 in Bangladesh. At the very
beginning, Hydra International started as a garments buying house and importing
garment accessories. This company still
exists in Bangladesh.
The subject’s prime markets are Bangladesh, India, the other Asian
countries, Europe, North America.
The business of the subject is chiefly handled by MD. Abdul Halim. History in Hong Kong is just over five years
and two months.
On the whole, consider it good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
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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.