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Report No. : |
348996 |
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Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
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Name : |
NEXGEN PACKAGING LTD. |
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Registered Office : |
Unit 917, 9/F., Trade Square, 681 Cheung
Sha Wan Road, Cheung Sha Wan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.06.2006 |
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Com. Reg. No.: |
36876778 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Labels, Hang Tags, Patches, Boxes, Price Tickets |
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No. of Employees : |
12 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
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.
|
Source
: CIA |
NEXGEN PACKAGING
LTD.
ADDRESS: Unit 917, 9/F., Trade Square, 681 Cheung
Sha Wan Road, Cheung Sha Wan, Kowloon, Hong Kong.
PHONE: 852-3551 2600
FAX: 852-2741 9948
MANAGEMENT:
Managing Director: Mr. Andrew Elfont Effron
Incorporated on: 1st
June, 2006.
Organization: Private
Limited Company.
Issued Share Capital: HK$1,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
12.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Baker & McKenzie
Room 1401, 14/F., Hutchison House, 10
Harcourt Road, Hong Kong.
Operating Office:-
Unit 917, 9/F., Trade Square, 681 Cheung Sha
Wan Road, Cheung Sha Wan, Kowloon, Hong Kong.
Holding Company:-
NexGen Packaging International LLC, United
States.
Associated Companies:-
NexGen Packaging, LLC, United States.
NexGen Packaging, UK, Ltd., United Kingdom.
Sato Holdings Corporation, Japan.
36876778
1048870
Managing Director: Mr. Andrew Elfont Effron
HK$1,000.00 (800 fully paid ordinary shares)
(As per registry dated 01-06-2015)
|
Name |
|
No. of shares |
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NexGen Packaging International LLC 1130 Windham Parkway Romeoville IL 60446,
U.S.A. |
|
800 === |
(As per registry dated 15-06-2015)
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Name (Nationality) |
Address |
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Robert Charles LOOP |
5 Woodridge Road, Wellesley, MA 02482,
U.S.A. |
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Michael Anthony NAIMO |
300 N. Madison Street, Hinsdale, IL 60521,
U.S.A. |
|
Kent David PELLEGRINI |
1863 Piedras Circle Alamo, CA 94507, U.S.A. |
|
Andrew Elfont EFFRON |
Flat A, 10/F., Borrett Mansions, 9 Borrett
Road, Mid‑Levels, Hong Kong. |
(As per registry dated 01-06-2015)
|
Name |
Address |
Co. No. |
|
B. & Mck. Nominees Ltd. |
Room 1401, 14/F., Hutchison House,
10 Harcourt Road, Hong Kong. |
0054552 |
The subject was incorporated on 1st June, 2006
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: Labels,
Hang Tags, Patches, Boxes, Price Tickets.
Employees: 12.
Commodities Imported: Europe, other Asian countries
Markets: Hong
Kong, other Asian countries
Terms/Sales:
As per contracted.
Terms/Buying:
Various terms.
Issued Share Capital: HK$1,000.00 (800 fully paid ordinary shares)
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:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
NexGen Packaging, Ltd. is a wholly-owned subsidiary
of NexGen Packaging International LLC [NPIL] which is a US-based company. It is an associated company of NexGen
Packaging, LLC [NexGen] which is also a US-based company.
The subject is a member of the NexGen
Packaging Group.
The directors of the subject are Robert
Charles Loop, Michael Anthony Naimo, Kent David Pellegrini and Andrew Elfont
Effron. They are also founders of the
Group. The Managing Director of the subject
Andrew Elfont Effron is a Hong Kong ID holder.
Most of the time, he is residing in Hong Kong.
The subject is located in the Trade Square
Plaza in Kowloon, Hong Kong, and functions as both a sales and technical
support office for customers in China, Hong Kong, and the other key APAC
countries.
NexGen is a leading global supplier of Brand
Identification products to Retailers and Apparel & Textile Brands. NexGen also provides packaging products to
Home Textile and Hard line Retailers and Manufactures. The Group has locations in over 25 countries
throughout the world.
NexGen offers a comprehensive range of
products and services designed to meet its customers’ product identification
needs, including: woven labels, printed labels, heat transfers, hang tags,
integrated tags, price tickets, wrap bands, patches, boxes, poly bags and a broad
range of specialized products. Its customers include a broad range of Apparel
Brands and Retailers.
NexGen has operations in the United States,
the United Kingdom, Hong Kong and major apparel producing countries globally.
Currently, the Group has about 325 employees
worldwide.
In May 2013, a Japan company Sato Holdings
Corporation [Sato], a leader in barcode printing, labelling, and EPC/RFID
solutions, made its strategic investment in NexGen. Sato is a listed company in Japan. Its shares, bearing stock code 6287, have
been traded on Tokyo Stock Exchange.
The subject is fully supported by NexGen.
As the history of the subject is over nine
years and five months in Hong Kong, on the whole, consider it good for
normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
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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 |
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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.