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Report No. : |
347894 |
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Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
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Name : |
AMIGO TECHPRO LTD. |
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Registered Office : |
Unit B01, 9/F., MG Tower, 133 Hoi Bun Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.04.2012 |
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Com. Reg. No.: |
59623291 |
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Legal Form : |
Private Limited
Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Newsprint, Printing Accessories, Telecommunication Products |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRAs 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 March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% 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.
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Source
: CIA |
AMIGO TECHPRO LTD.
Unit B01, 9/F., MG
Tower, 133 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-3568 6021
E-MAIL: Vincent.chiu@amigotechpro.com
Managing
Director: Mr. Chiu Wing Shing, Vincent
Incorporated
on: 11th
April, 2012.
Organization: Private
Limited Company.
Issued Share
Capital: HK$21,000,000.00
Business Category: Importer, Exporter and
Wholesaler.
Employees: 3.
Main Dealing
Banker: The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Holding Company:-
Yashi Industries
Private Ltd., India.
Associated Company:-
Amigo Techpro
India Pvt. Ltd., India.
59623291
1726828
Managing
Director: Mr. Chiu Wing Shing, Vincent
Contact
Person: Ms. Connie Lam
HK$21,000,000.00
(As
per registry dated 11-04-2015)
|
Name |
|
No.
of shares |
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Yashi Industries Private Ltd. B-75, Sector 60, Noida (U.P.), India. |
|
10,000,000 |
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CHIU Wing Shing, Vincent |
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40,000 |
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Total: |
10,040,000 ======== |
(As
per registry dated 11-04-2015)
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Name (Nationality) |
Address |
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CHIU Wing Shing,
Vincent |
Room 1720, 17/F., Shin Mei House, Fu Shin
Estate, Tai Po, New Territories, Hong Kong. |
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Amit JAIN |
BPH-1, Pearl Gateway, Sector-44, Noida
(U.P.), India. |
(As
per registry dated 11-04-2015)
|
Name |
Address |
Co.
No. |
|
TC
Secretary Ltd. |
2/F., Kam Lung Commercial Centre, 2 Hart Avenue, Tsimshatsui, Kowloon,
Hong Kong. |
1027070 |
The
subject was incorporated on 11th April, 2012 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: Newsprint, Printing
Accessories, Telecommunication Products
Employees: 3.
Commodities
Imported: China, other Asian countries,
etc.
Markets: India,
etc.
Terms/Sales: As
per contracted.
Terms/Buying: Various
terms.
Issued Share
Capital: HK$21,000,000.00
Profit or Loss: Kept a balance account in 2014.
Condition: Business is improving.
Facilities: Adequate for current running.
Payment: Met
as required.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 10,040,000 ordinary shares, Amigo Techpro Ltd. is jointly owned by Yashi
Industries Private Ltd., holding 99.6% interests; Mr. Chiu Wing Shing, Vincent,
holding 0.4%. The former is an
India-registered company while the latter is a Hong Kong merchant. He is also managing director of the
subject. He can be reached at his Hong
Kong mobile phone number 852-6888 1670.
Mr.
Chiu Wing Shing and Mr. Amit Jain are the directors of the subject.
The
subject is trading in the following commodities:
Newsprint,
Printing Accessories, Telecommunication Products, Air-conditioners, Electronic
Products, etc.
Commodities
are chiefly sourced from China.
According
to the subject, one of its customers is India Government.
The
holding company of the subject Yashi Industries Private Ltd. [YIPL] is an
India-based company. It was incorporated
on 21st May, 2009. Amit Jain is one of
the directors of YIPL.
Besides,
the subject has an associated company known as Amigo Techpro India Pvt. Ltd.
[ATIPL] in India. This company was
incorporated on 27th July, 2006.
Amit Jain is one of the directors of ATIPL.
The
business of the subject is chiefly handled by Chiu Wing Shing, Vincent. History in Hong Kong is just over three years
and six months.
On
the whole, consider the subject good for normal business engagements in small
credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.57 |
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|
1 |
Rs.101.13 |
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Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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
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.