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Report No. : |
341830 |
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Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
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Name : |
ABLE BLAZE LTD. |
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Registered Office : |
Flat A, 14/F., Kwai Fong Industrial Building, 9-15 Kwai Cheong Road, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.10.2014 |
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Com. Reg. No.: |
64008848 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer, Exporter and Wholesaler of UPS, Surge, Inverter, AVR,
Protector, Charger. |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
ABLE BLAZE
LTD.
Flat A, 14/F., Kwai Fong Industrial Building, 9-15 Kwai Cheong
Road, Kwai Chung, New Territories, Hong Kong.
PHONE: Not
available
MANAGEMENT:
Managing Director:
Mr. Johanes Gobardja
Incorporated on: 31st October, 2014.
Organization: Private Limited Company.
Capital: Nominal: HK$1.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Flat A, 14/F., Kwai Fong Industrial Building, 9-15 Kwai
Cheong Road, Kwai Chung, New Territories, Hong Kong.
Holding Company:-
Comkit Ltd., Hong Kong.
Associated Companies:-
Lexcron.com Pte. Ltd., Singapore.
Zhongshan Sunlogic Electrical Appliance Co. Ltd.,
China.
(or known as Zhongshan Langri Electrical Appliance Co. Ltd.)
Suicheng Industrial Zone, Dongfeng County, Zhongshan
City, Guangdong Province, China.
[Tel: +86-760-2263 6888; Fax:+86-760-2263 8788]
64008848
2163018
Managing Director:
Mr. Johanes Gobardja
HK$1.00
(As per registry dated 31-10-2014)
|
Name |
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No. of shares |
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Comkit Ltd., Hong Kong. |
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1 = |
(As per registry dated 27-05-2015)
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Name (Nationality) |
Address |
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Johanes GOBARDJA |
62 Farrer Road, #04-03 Singapore 268847. |
(As per registry dated 27-05-2015)
|
Name |
Address |
Co. No. |
|
Excel Services Ltd. |
Unit 2, 9/F., One Mong Kok Road Commercial Centre, 1 Mong
Kok Road, Kowloon, Hong Kong. |
0759046 |
The subject was incorporated on 31st October, 2014 as a
private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at
Unit A, 3/F., Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong
where was the operating office of a commercial service provider Comkit
Ltd. It moved to the present address
with effect from 19th August, 2015 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: UPS,
Surge, Inverter, AVR, Protector, Charger
Employees: 2.
Commodities Imported: China
Markets: Singapore,
other Asian countries
Terms/Sales: L/C, T/T
Terms/Buying:
Various terms.
Issued Share Capital:
HK$1.00
Profit or Loss: Too
early to offer an opinion.
Condition: Business
is under development.
Facilities: Adequate
for current running.
Payment: Unknown.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
Standing: Small.
Able Blaze Ltd. was incorporated on 31st October, 2014 as
a private limited liability company.
The subject moved to the present address in August, 2015.
The subject has issued just one ordinary share of HK$1.00
which is owned by Comkit Ltd. which is a commercial service provider. It is the nominal shareholder of the subject.
The director of the subject Johanes Gobardja is a
Singapore merchant. He is a Singapore
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 has had an associated company in China known
as Zhongshan Sunlogic Electrical Appliance Co. Ltd.
[Sunlogic] which was set up in 1998.
The subject is trading in the products of Sunlogic.
Sunlogic has registered its trademark LEXCRON with Chinese Government. The owners of this trademark are Sunlogic and
Mr. Johanes Gobardja.
Sunlogic is engaged in manufacturing the following
products:-
·
Uninterruptible Power Supply;
·
Automatic Voltage Regulator;
·
Surge Protector;
·
Mobile Power / Inverter;
·
Battery Charger;
·
Step Up & Down AC Converter;
·
Automatic Voltage Switcher; &
·
Wireless Remote Switch Controller.
The followings are the Basic Data of Sunlogic:-
1.
Area of Manufacture Building: 25,000 sq.m.
2.
Area of Office Building: 3,500 m2
3.
No. of Production lines: 12
4.
No. of Employee: 600
5.
No. of R & D Engineer: 50
6.
No. of QC Staff: 30
7.
Certificate Got: ISO 9001 & CE
The products of Sunlogic are exported to more than 30
countries of the world. Annual sales turnover
ranges from RMB30 to 50 million Yuan.
Sunlogic’s products also bear the brand name of VMARK.
The subject’s business in Hong Kong is just at its
initial stage. History in Hong Kong is
over ten months.
On the whole, since the history of the subject is short,
consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.93 |
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UK Pound |
1 |
Rs.102.75 |
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Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
VNT |
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.