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MIRA INFORM REPORT
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Report No. : |
504595 |
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Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NEXT GLOBAL LIMITED |
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Registered Office : |
Unit 1008, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
31.08.2011 |
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Com. Reg. No.: |
58965648 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Loose Diamonds. |
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No. of Employees : |
5 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Hongkong |
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 |
HONGKONG - 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 |
Company name and address
NEXT
GLOBAL LIMITED
ADDRESS: Unit
1008, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon,
Hongkong
PHONE:
852-2724 2714, 6312 4883
FAX: 852-2724 2715
EMAIL: neal@live.hk
MANAGEMENT
Managing Director:
Mr. Nilesh Manubhai Pathak
SUMMARY
Incorporated on: 31st August, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Diamond
Trader.
Employees: 5.
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
Unit 1008, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue,
Tsimshatsui, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
58965648
COMPANY FILE NUMBER
1661457
MANAGEMENT
Managing Director:
Mr. Nilesh
Manubhai Pathak
Contact Person: Mr. Chaitya Shah
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 31-08-2017)
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Name |
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No. of shares |
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Nilesh Manubhai PATHAK |
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10,000 ===== |
DIRECTOR
(As per registry dated 31-08-2017)
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Name (Nationality) |
Address |
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Nilesh Manubhai PATHAK |
Flat D, 7/F., Golden Mansion, 83-85 Chatham Road South,
Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 31-08-2017)
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Name |
Address |
Co. No. |
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Pan Pacific Consultants Ltd. |
Room D, 3/F., Thomson Commercial Building, 8‑10
Thomson Road, Wanchai, Hong Kong. |
1254491 |
HISTORY
The subject was
incorporated on 31st August, 2011 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject
was located at Room 324, 3/F., Hankow Centre, 5‑15 Hankow Road,
Tsimshatsui, Kowloon, Hong Kong where is the operating office of a secretarial
firm Ponce & Co. Ltd., moved to the present address in December 2011.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of loose
diamonds.
Brand Name: Next Global.
Employees: 5.
Commodities Imported: India,
etc.
Markets: Hong Kong, China, other Asian
countries, Europe, US, etc.
Terms/Sales: CAD, L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made small profits in past years.
Condition: Business is normal.
Facilities: Making active use of general banking
facilities.
Payment: Met trade commitments as
contracted.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Next Global Limited
commenced business in August, 2011. It
moved to the present address in December 2011.
The subject has
issued 10,000 ordinary shares of HK$1.00 each which are wholly‑owned by
Mr. Nilesh Manubhai Pathak who is an Indian. He is also the only director of the
subject. He is a Hong Kong ID Card
holder and has got the right to reside in Hong Kong.
Pathak can be reached
at his Hong Kong mobile phone 852-6312 4883.
We can reach nobody
at your given Hong Kong mobile phone number 852‑9712 3234 as it is just a
voice mail box. It seems to be the
mobile phone number of Mr. Chaitya Shah who is the sales manager.
The subject is a
diamond importer, exporter and wholesaler.
It is trading in loose, polished and cut diamonds. It is significant for its carat diamonds and
GIA certified diamonds. Most of its
diamonds are over 0.30 and up to 3.00 carats. It has more than 3,000 loose
stones which all are GIA certified. The
subject also makes special engagement rings on order.
Most of the commodities
are imported from India. Prime markets are Hong Kong, Japan, India, the
other Asian countries, Europe, etc.
Business is normal.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities. For instance, it took part in “HKTDC Hong
Kong International Diamond, Gem & Pearl Show 2018” which had been held in
Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 27th February
to 3rd March, 2018. Its booth No. was
AWE 5-B12.
The subject’s
business is chiefly handled by Pathak himself.
History in Hong Kong is over six years and seven months.
On the whole,
consider it good for normal business engagements in moderate credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.02 |
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1 |
INR 92.73 |
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Euro |
1 |
INR 81.46 |
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HKD |
1 |
INR 8.45 |
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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NIS |
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Report Prepared
by : |
NIT |
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
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.