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MIRA INFORM REPORT
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Report No. : |
502862 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
AGILE SOURCES LIMITED |
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Registered Office : |
Unit 28, 11/F., Block F, Mai Tak Industrial Building, 221 Wai Yip Street,
Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.11.2014 |
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Com. Reg. No.: |
64087383 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Plastic Dryer Parts, Cloth Dryer with Vertical Rotation. |
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No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Small Company |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to
link its currency closely to the US dollar, maintaining an arrangement
established in 1983.
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 aided a more rapid initial recovery 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 9.4% of
total system deposits in Hong Kong by the end of 2015. 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. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% 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. 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, which took effect in
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. Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 2.6% in 2016, but
slowed to 2.0% in 2017. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing. Hong Kong’s economic
integration with the mainland continues to be most evident in the banking and
finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the
Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all
important steps towards opening up the Mainland’s capital markets and has
reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional
connect schemes from bonds to commodities and other investment products are
also under exploration by Hong Kong authorities. In 2017, Chief Executive Lam
announced plans to increase government spending on research and development,
education, and technological innovation with the aim of spurring continued
economic growth through greater sector diversification.
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Source
: CIA |
Note
[Formerly Located At:
Unit 17, 8/F., Block C, Fu Hop Factory Building,
209-212 Wai Yip Street, Kwun Tong,
Kowloon, Hong Kong,]
Company
name & address
AGILE SOURCES
LIMITED
ADDRESS: Unit 28, 11/F., Block F, Mai Tak
Industrial Building, 221 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-3487 5755
FAX: 852-3487 8408
E-MAIL: manishtwo@gmail.com
manish@agilesources.com
MANAGEMENT
Managing Director: Mr. Manish
Kanti Talukdar
SUMMARY
Incorporated on: 20th November, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
AGILE SOURCES
LIMITED
ADDRESS
Registered Head
Office:-
Unit 28, 11/F., Block F, Mai Tak Industrial Building, 221 Wai Yip
Street, Kwun Tong, Kowloon, Hong Kong.
Associated
Companies:-
KFL Ltd., Hong Kong. (Same
address)
Rini Search Services Hong Kong Ltd., Hong Kong.
Upsilon Technology Ltd., Hong Kong.
BUSINESS
REGISTRATION NUMBER
64087383
COMPANY
FILE NUMBER
2170832
MANAGEMENT
Managing Director: Mr. Manish
Kanti Talukdar
[Hong Kong Mobile Phone No.: 852-9185 0266]
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 20-11-2017)
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Name |
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No. of shares |
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Manish Kanti TALUKDAR |
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5,000 |
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Jairaj KEESARI |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 20-11-2017)
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Name (Nationality) |
Address |
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Jairaj KEESARI |
Flat E, 13/F., Block 2, Laguna City, Lam Tin, Kowloon, Hong Kong. |
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Manish Kanti TALUKDAR |
Flat E, 13/F., Block 2, Laguna City, Lam Tin, Kowloon, Hong Kong. |
SECRETARY
Manish Kanti TALUKDAR (As per registry dated 20-11-2017)
HISTORY
The subject was incorporated on 20th November, 2014 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at ‘Unit 17, 8/F., Block C, Fu Hop
Factory Building, 209-212 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong’, moved
to the present address in June 2017.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Plastic
dryer parts, cloth dryer with vertical rotation
Employees: 4.
Commodities Imported: China, other
Asian countries, etc.
Markets: Other
Asian countries, etc.
Terms/Sales: As per contracted.
Terms/Buying: CAD or as per contracted.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Made
a small profit in 2017.
Condition: Business
is normal.
Facilities: Adequate
for current running.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Agile Sources Limited
is equally owned by Mr. Manish Kanti Talukdar and Mr. Jairaj Keesari.
They are also directors of the subject.
Both are Hong Kong ID holders and have got the right to reside in Hong
Kong permanently.
Mr. Manish Kanti Talukdar can be reached at his Hong Kong mobile phone
number 852-9185 0266.
The subject has moved to a new address.
The subject is trading in the following products:
Plastic dryer parts, cloth dryer with vertical rotation, Centrifuges,
including centrifugal dryers; filtering or purifying machinery and apparatus
for liquids or gases, other electronic products, etc.
The subject has had an associated company known as KFL Ltd. [KFL] which
is a Hong Kong-registered company located at the same address.
The subject also trades in the commodities of KFL which was incorporated
on 5th December, 2013.
KFL is a Hong Kong based company with its manufacturing facility located
in Dongguan City and Zhanjiang City of Guangdong Province, and offices in
Guangzhou and Shenzhen Special Economic Zone, China.
KFL has modern workshops in China having over 6 assembly lines. The annual production capacity is over 1
million units.
KFL’s products are as follow:
Kitchen Appliances: Induction Cookers, Rice Cookers
Home Appliances: Fans, heaters, White Goods, Small Domestic Appliances
Health & Personal Care Products: Humidifiers, Massagers, Blood
Pressure Monitors, Weighing Scales, etc.
Specialized in manufacturing kitchen appliances, KFL also provides
specialized products to some of the large retail stores such as WALMART,
Costco, Homedepot, Kmart, Reliance Retail, etc.
All KFL products have been accredited by international authoritative
organizations such as ETL, FCC, ROHS, CE, UL CCC, etc. Over 90% of its products are exported to
countries worldwide such as Mexico, Brazil, Germany, France, Great Britain,
Spain, Holland, India, Malaysia, Singapore, the Middle East, South Africa,
Australia, etc.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Europe.
For instance, it is going to take part in Hong Kong Electronics Fair
(Spring Edition) which will be held in Hong Kong Hong Kong Convention and
Exhibition Centre, Wanchai, Hong Kong during the period of
13th to 16th April, 2018. Its booth No.
is 5F-E09.
The business of the subject is chiefly handled by the two
shareholders. History in Hong Kong is
just over three years and four months.
On the whole, consider it good for normal business engagements in small
credit amounts.
MORTGAGE
OR CHARGE
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Date |
Description of
Instrument |
Mortgagee |
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07-04-2017 |
Assignment of Receivables – General |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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12-05-2017 |
Assignment of Life Insurance |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
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12-05-2017 |
Assignment of Life Insurance |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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HKD |
1 |
INR 8.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.