|
Report No. : |
341362 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TREASURE BOX |
|
|
|
|
Registered Office : |
Shop No. 266, Basement, Maxi Mall, City Garden, 231-233 Electric Road,
North Point, |
|
|
|
|
Country : |
Hong Kong. |
|
|
|
|
Date of Incorporation : |
01.02.2015 |
|
|
|
|
Com. Reg. No.: |
55257187-000-02 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Wholesaler and Retailer of Arts and crafts, novelties, premium products |
|
|
|
|
No. of Employee : |
1. |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
TREASURE BOX
(Formerly known as:
Tresure Box)
Note: We are not sure whether the subject is also located at your “Flat
B, 9/F., Dolford Mansion, 1-3 Chatham Court, Tsimshatsui, Kowloon, Hong Kong”
as this is a residential building which is not trespassed by outsiders.
ADDRESS: Shop No. 266, Basement, Maxi
Mall, City Garden, 231-233 Electric Road, North Point, Hong Kong.
PHONE: Not
available
MANAGEMENT:
Manager: Ms. Cheung Chui Ping, May
Establishment: 1st February,
2015.
Organization: Sole
Proprietorship.
Capital: Not disclosed.
Business Category: Importer,
Wholesaler and Retailer.
Employee: 1.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Head Office:-
Shop No. 266, Basement, Maxi Mall, City Garden, 231-233 Electric Road,
North Point, Hong Kong.
55257187-000-02
Manager: Ms. Cheung Chui Ping,
May
Name: Ms. CHEUNG Chui Ping, May
Residential Address: Flat G,
15/F., King;s Centre, 193-203 King’s Road, North Point, Hong Kong.
The subject was established on 1st February, 2015 as a sole
proprietorship concern owned by Ms. Cheung Chui Ping, May under the Hong Kong
Business Registration Regulations.
Originally the subject was registered under the name of Tresure Box,
name changed to the present style on 25th March, 2015.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Wholesaler and Retailer.
Lines: Arts and crafts,
novelties, premium products
Employee: 1.
Commodities Imported: China,
Europe
Markets: Hong Kong
Terms/Sales: COD, CAD or as per
contracted.
Terms/Buying: L/C, T/T
Capital: Not
disclosed.
Profit or Loss: Too early to offer
an opinion.
Condition: Business is under
development.
Facilities: Making use of
general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Treasure Box is a sole proprietorship set up and owned by Ms. Cheung
Chui Ping, May who is a Hong Kong businesswoman.
Established on 1st February, 2015, the subject’s registered address is
also a retailing outlet.
The subject is engaged in importing and retailing the following
commodities: Arts and crafts, premium products, novelties, toys
Most of the commodities are imported from China, the other Asian
countries, Europe, etc. Business is
still under development.
The subject’s business is chiefly handled by Ms. Cheung Chui Ping, May
herself, history in Hong Kong is just over seven months.
On the whole, since the history of the subject is short, consider it
good for normal business engagements on L/C basis for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.92 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.