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Report No. : |
348260 |
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Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
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Name : |
PACKAGING SUPPLY LTD. |
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Formerly Known As : |
S.G.L. LTD. |
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Registered Office : |
Room 1916A, 19/F., West Wing, Star House, 3 Salisbury Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
22.01.1997 |
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Com. Reg. No.: |
20612778 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF JEWELLERY BOX SETS,
METAL JEWELLERY BOXES, SPECTACLE CASES, PACKAGING ITEMS, HOUSEHOLD GOODS, BEAUTY SUPPLIES, COSMETIC
JAR AND CONTAINER, ACCESSORIES. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hongkong |
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 |
HONGKONG - 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 |
PACKAGING
SUPPLY LTD.
ADDRESS: Room 1916A, 19/F., West Wing,
Star House, 3 Salisbury Road, Tsimshatsui,
Kowloon, Hong Kong.
(Formerly located at:
Flat B2, 9/F., Block B, Hankow Centre, 4A Ashley Road, Tsimshatsui, Kowloon,
Hong Kong)
PHONE: 852-2735
6243
FAX: 852-2730
7416
Managing Director:
Mr. Graham Rogers
Incorporated on: 22nd January, 1997.
Organization: Private Limited Company.
Issued Share Capital: HK$300,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 5.
Main Dealing Banker: China
Construction Bank (Asia) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 1916A, 19/F., West Wing, Star House, 3 Salisbury
Road, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies: (Same address)
General Consolidated Impex Co., Hong Kong.
General Consolidated Impex Ltd., Hong Kong.
Hot Box Ltd., Hong Kong.
MSL International Ltd., Hong Kong.
Victoria Enterprises Ltd., Hong Kong.
20612778
0592488
Managing Director:
Mr. Graham Rogers
Contact Person: Mr. Michael Lee Sang-doo
HK$300,000.00
(As per registry dated 22-01-2015)
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Name |
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No. of shares |
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Graham ROGERS |
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150,000 |
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ROGERS TSUI Mei Lee, Rosemary |
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150,000 |
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––––––– |
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Total: |
300,000 ====== |
(As per registry dated 22-01-2015)
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Name (Nationality) |
Address |
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ROGERS TSUI Mei Lee, Rosemary |
Room R, 10/F., Phase II, Universal Mansion,
52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong. |
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Graham ROGERS |
Room 1718, 17/F., West Wing, Star House, 3 Salisbury
Road, Kowloon, Hong Kong. |
(As per registry dated 22-01-2015)
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Name |
Address |
Co. No. |
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C&T Consultants Ltd. |
Room 1804, 18/F., Winning Centre, 29 Tai Yau Street,
San Po Kong, Kowloon, Hong Kong. |
0927393 |
The subject was incorporated on 22nd January, 1997 as a private
limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of
S.G.L. Ltd., name changed to Pollution Solution Ltd. on 22nd September, 1999,
and further to the present style on 19th May, 2003.
At the very
beginning, the subject was located at ‘Flat B2, 9/F., Block B, Hankow Centre,
4A Ashley Road, Tsimshatsui, Kowloon, Hong Kong’, moved to ‘Room 1718, 17/F.,
West Wing, Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong’ in
May 2001 and further moved to the present address in February 2014.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of jewellery box sets, metal jewellery boxes, spectacle cases,
packaging
items,
household goods, beauty supplies, cosmetic jar and container, accessories.
Employees: 5.
Commodities Imported:
South Korea, China, other Asian countries, etc.
Markets: Asian
countries, Australia, Europe, North America, etc.
Terms/Sales: CAD or as per contracted.
Terms/Buying: L/C,
T/T, O/A, etc.
Issued Share Capital: HK$300,000.00
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: China Construction Bank
(Asia) Ltd., Hong Kong.
Standing: Small.
Having issued 300,000
ordinary shares of HK$1.00 each, Packaging Supply Ltd. is equally owned by Mr.
Graham Rogers and his wife, Mrs. Rogers TSUI Mei Lee, Rosemary. Both are also directors of the subject.
The predecessor of the
subject was S.G.L. Ltd.
Mr. Graham Rogers is
also a Hong Kong ID holder. The subject
has got associated companies located at the same address: Hot Box Ltd. [Hot
Box] and MSL International Ltd. [MSL]. However,
MSL commenced dormancy on 8th October, 2015.
The subject, Hot Box
and MSL are engaged in the same lines of business, more or less.
The subject is
trading in household goods, beauty salon supplies, cosmetic accessories,
personal care and grooming products, hair care and beauty products, health and
hygiene items, etc. Its products are
exported directly from its contracted factories in South Korea to many
customers worldwide. Its major markets
are the European Union, the United States, Australasia, Canada and Japan,
etc. In addition to supplying a full
range of home supplies and beauty products, the subject also undertakes OEM
production and packaging to the requirements of its customers.
The subject is
significant for its metal jewellery boxes, jewellery box sets and spectacle
cases, etc.
The contact person of
the subject Mr. Michael Lee Sang-doo is a South Korean.
The business of the
subject is chiefly handled by the shareholders.
History in Hong Kong is over 18 years and nine months.
On the whole,
consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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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
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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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.