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Report No. : |
324689 |
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Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ALLIED WILL INDUSTRIAL LTD. |
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Registered Office : |
c/o Buttar.HK Ltd. Unit A, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.11.2012 |
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Com. Reg. No.: |
60682713 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of electronic products such as lap tops, mobile phones, computer peripherals, accessories |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Opiating 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
ALLIED WILL
INDUSTRIAL LTD.
ADDRESS: c/o Buttar.HK Ltd.
Unit A, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 852-2312 0148
FAX: 852-2375 6513
E-MAIL: alliedwill@rediffmail.com
Managing Director: Mr. Sumit
Mutreja
Incorporated on: 29th November, 2012.
Organization: Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Hang
Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ALLIED WILL
INDUSTRIAL LTD.
Registered Office:-
c/o Buttar.HK Ltd.
Unit A, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong.
60682713
1832355
Managing Director: Mr. Sumit
Mutreja
HK$10,000.00
(As per registry
dated 29-11-2014)
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Name |
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No. of shares |
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Sumit MUTREJA |
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10,000 ===== |
(As per registry
dated 29-11-2014)
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Name (Nationality) |
Address |
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Sumit MUTREJA |
NA-28, 3/F., Street No-5, Vishnu Garden, New Delhi 110018, India. |
(As per registry
dated 29-11-2014)
|
Name |
Address |
Co. No. |
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Buttar Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New Territories,
Hong Kong. |
2086550 |
The subject was incorporated on 29th November, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at 14/F., Chun Wo
Commercial Centre, 25 Wing Wo Street, Central, Hong Kong where was the
operating address of a commercial service provider Gateway Registrations
Ltd. The subject moved to the present
address with effect from 29th December, 2012 as it has changed its
commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds of
electronic products such as lap tops, mobile phones, computer peripherals,
accessories, etc.
Employees: Nil.
Commodities Imported:China (chiefly from Shenzhen SEZ), etc.
Markets: India,
other Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: CAD or as per contracted.
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Adequate
for current running.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: Hang Seng Bank Ltd.,
Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Allied Will
Industrial Ltd. is almost wholly owned by Sumit Mutreja who is an Indian. He is an India 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 does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit A, 1/F., Mau Lam Commercial Building, 16-18 Mau
Lam Street, Jordan, Kowloon, Hong Kong” known as “Buttar.HK Ltd.” which is
handling its correspondences and documents.
This firm is also the corporate secretary of the subject. ‘Unit A’ is the file number of the subject in
the secretarial company.
The subject has no employees in Hong Kong.
Sumit Mutreja can be reached at his China mobile phone number 86‑13417312731. Most of the time, Sumit Mutreja is in Shenzhen
Special Economic Zone, China.
The subject’s head office is in Shenzhen SEZ, China. It is trading in the following commodities:-
Lap tops, mobile phones, computer peripherals, electric and electronic
accessories, MP3, iPhones, iPads, household accessories, etc.
Most of the commodities are sourced from the suppliers in Shenzhen
Special Economic Zone, Guangdong Province, Zhejiang Province, China. Prime markets are India, the other Asian
countries, Europe, the United States. In
recent years, the subject has been trading in general household accessories
such as Clock, Fishing Supply, Hammock, Hiking Stick, Home Décor, etc. It has had a significant customer known as
Gracious Décor Inc. which is in Indiana of the United States
The subject’s business in China is improving.
Mutreja has about three employees in China. His e-mail address is alliedwill@rediffmail.com.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over two 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
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.76 |
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|
1 |
Rs. 97.79 |
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Euro |
1 |
Rs. 69.90 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
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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.