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Report No. : |
348972 |
|
Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
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Name : |
BASE INTERNATIONAL LTD. |
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Registered Office : |
Flat C, 14/F., Charmhill Commercial Centre,
50 Hillwood Road, Tsimshatusi, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
26.06.2002 |
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Com. Reg. No.: |
33012280 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Plastic
Materials, Electronic Components, Sundry Products |
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No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
BASE INTERNATIONAL
LTD.
ADDRESS: Flat C, 14/F., Charmhill Commercial
Centre, 50 Hillwood Road, Tsimshatusi, Kowloon, Hong Kong.
PHONE: 852-2314 8494
FAX: 852-2314 8450
E-MAIL: vicky@bsehkg.com
MANAGEMENT:
Managing Director: Mr. Shishir Dugar
Incorporated on: 26th June, 2002.
Organization:
Private Limited
Company.
Issued Share Capital: HK$7,500,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
4.
Main Dealing Banker: Indian Overseas Bank, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head Office:-
Flat C, 14/F., Charmhill Commercial Centre,
50 Hillwood Road, Tsimshatusi, Kowloon, Hong Kong.
China Representative Office:-
2210 Jiang He Building, 31 Tian Shou Road, Guangzhou, Guangdong
Province, China.
[Tel: (86)20-38217125 / (86)20-38217500
Email: sonu@bsehkg.com /
baseintltd@gmail.com]
Associated Companies:-
P & A Traders Pvt. Ltd., India.
SBD Inc., United States.
33012280
0803640
Managing Director: Mr. Shishir Dugar
HK$7,500,000.00
(As per registry dated 26-06-2015)
|
Name |
|
No. of shares |
|
Saroj DUGAR |
|
3,750,000 |
|
Sharad DUGAR |
|
1,875,000 |
|
Shishir DUGAR |
|
1,875,000 |
|
|
|
–––––––– |
|
|
Total: |
7,500,000 ======= |
(As per registry dated 26-06-2015)
|
Name (Nationality) |
Address |
|
Saroj DUGAR |
B/6, 13/F., Fortune Terrace, 4-16 Tak Shing
Street, Jordan, Kowloon, Hong Kong. |
|
Sharad DUGAR |
B/6, 13/F., Fortune Terrace, 4-16 Tak Shing
Street, Jordan, Kowloon, Hong Kong. |
|
Shishir DUGAR |
B/6, 13/F., Fortune Terrace, 4-16 Tak Shing
Street, Jordan, Kowloon, Hong Kong. |
(As per registry dated 26-06-2015)
|
Name |
Address |
Co. No. |
|
Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, 302 Des
Voeux Road Central, Hong Kong. |
0113023 |
The subject was incorporated on 26th June, 2002
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: Plastic
materials, electronic components, sundry products
Employees: 6.
Commodities Imported: China, India, other Asian countries
Markets: Asian
countries, Middle East, Europe, North America
Terms/Sales: L/C
or as per contracted.
Terms/Buying:
L/C, T/T, D/P.
Issued Share Capital: HK$7,500,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making active use
of general banking facilities.
Payment: Met
trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Indian Overseas Bank, Hong Kong Branch.
Punjab National Bank, Hong Kong Branch.
Standing:
Normal.
Having issued 7.5 million ordinary shares of
HK$1.00 each, Base International Ltd. is jointly owned by the Dugar family,
namely, Mr. Saroj Dugar, holding 50% interests; Mr. Sharad Dugar, holding 25%;
and Mr. Shishir Dugar, also 25%.
They are also directors of the subject.
Shishir Dugar and Saroj Dugar are Hong Kong ID holders and have got the
right to reside in Hong Kong permanently.
The subject is trading in the following
commodities:-
1.
Home & Office Furniture
2.
Bathroom Sanitary Ware and
Accessories
3.
Modular Kitchen & Accessories
4.
Lighting & Decorative
Products
5.
Flooring and Hardware
6.
Health & Fitness Products
7.
Tiles
With headquarters in Hong Kong and branch offices
in China, India, the United Arab Emirates, Singapore and the United States, the
subject has had a wide network of supply in the domestic and international
markets. It serves organizations of all
sizes as well as individual customers throughout the world. The followings are the main clients of the
subject:
·
Builders And Developers
·
Interior Designers
·
Architects
·
Individuals / End Users (For
Home)
·
Individuals / End Users (For
Personal Offices / Corporates)
·
Hotel And Motels
·
Resorts
·
Educational Institutes » Schools,
Colleges, Universities, Playschools
·
Hospitals And Other Medical
Institutes
·
Fitness Centres / Spa / Health
Clubs / Sports Centres / Gyms / Salons
·
Restaurants
·
Banquet Halls
The subject also offers clients with the
following services:-
1.
Banking and Finance
2.
Shipping and Forwarding (Air and
Sea)
3.
Warehousing and Shipment
Consolidation
4.
Sourcing Development
The financial position of the subject and its
associated companies are good.
The history of the subject in Hong Kong is
over thirteen years and four months.
Business is satisfactory.
On the whole, consider it good for normal
business engagements.
|
Date |
Particulars |
Amount |
|
04-03-2003 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity FC 230407 14-02-2003 US$60,000.00 0.875% 17-03-2003 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All and any liabilities |
|
09-03-2004 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity FC 240285 04-02-2004 US$62,000.00 0.82% 04-08-2004 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All and any liabilities |
|
25-06-2004 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity FC 241271 21-06-2004 US$175,022.12 0.65% 20-09-2004 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All and any liabilities |
|
27-05-2010 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity 2010 FD 76 1 27-05-2010 US$ 22,406.05 0.7% 25-08-2010 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All liabilities |
|
17-08-2011 |
Instrument: Charge on Deposit
to secure The Depositor’s Obligations Property: Account Number 7141000053, 7141000054,
7141000711, 7141000785 and 7141000929 with the Bank for a sum of
US$42,458.13, US$10,614.54, US$51,522.68, US$243,745.46 and US$94,120.11
currently represented or evidenced by a certificate of deposit dated 30th
May, 2011, 2nd June, 2011, 9th July, 2011, 15th January, 2011 and 29th
October, 2010 bearing Number 7141000053, 7141000054, 7141000711, 7141000785
and 7141000929 issued by the Bank or standing to the credit of account number
714100053, 7141000054, 7141000711, 7141000785 and 7141000929 with the Bank Mortgagee: Punjab National
Bank, Hong Kong Branch. |
As a continuing security for the payment and discharge of the
Secured Obligations |
|
17-05-2012 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity 2012 FD 45 1 10-05-2012 EUR
17,682.37 0.50% 11-06-2012 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All liabilities |
|
09-04-2013 |
Instrument: Undertaking
Relating to Deposits Property: Distinctive Date
of Amount Rate of Maturity 2012 FD 337 07-03-2012 US$92,000.00 0.56% 05-06-2013 Mortgagee: Indian Overseas
Bank, Hong Kong Branch. |
All liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
UK Pound |
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
TRU |
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 |
|
|
-- |
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.