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MIRA
INFORM REPORT
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Report No. : |
489153 |
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Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MAX TRADE LIMITED |
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Registered Office : |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street,
Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.12.1995 |
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Com. Reg. No.: |
19571868 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Piece goods, Trimming Products, Garment Accessories. |
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No. of Employees : |
6 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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.
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Source
: CIA |
Company name & address
MAX TRADE LIMITED
ADDRESS: Unit A, 9/F., Fu Hop
Factory Building, 209-211 Wai Yip Street, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2759 2097
FAX: 852-2759 4817
E-MAIL: dm@maxtrade.com.hik
MANAGEMENT
Managing Director: Mr. Mamta
Malhotra
SUMMARY
Incorporated on: 7th December, 1995.
Organization: Private Limited Company.
Issued Share Capital: HK$250,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
MAX TRADE LIMITED
ADDRESS
Registered Head
Office:-
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street,
Kwun Tong, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
19571868
COMPANY FILE NUMBER
0533254
MANAGEMENT
Managing Director: Mr. Mamta
Malhotra
ISSUED SHARE CAPITAL
HK$250,000.00
SHAREHOLDERS
(As per registry dated 07-12-2017)
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Name |
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No. of shares |
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Dhananjay MALHOTRA |
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122,500 |
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Mamta MALHOTRA |
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127,500 |
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––––––– |
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Total: |
250,000 ====== |
DIRECTORS
(As per registry dated 07-12-2017)
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Name (Nationality) |
Address |
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Mamta MALHOTRA |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun
Tong, Kowloon, Hong Kong. |
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Dhananjay MALHOTRA |
Unit A, 9/F., Fu Hop Factory Building, 209-211 Wai Yip Street, Kwun
Tong, Kowloon, Hong Kong. |
SECRETARY
Dhananjay MALHOTRA (As per registry dated 07-12-2017)
HISTORY
The subject was incorporated on 7th December, 1995 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.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Piece goods, Trimming Products, Garment
Accessories.
Employees: 6.
Commodities Imported: China, other
Asian countries, etc.
Markets: Other Asian countries, US, Europe,
South America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$250,000.00
Mortgage or Charge:-
Date of Mortgage: 31-08-2012
Amount: All moneys
Property: 5/343rd parts or
shares of and in Kuen Tong Inland Lot No. 160 (Workshop Unit 2 on 12/F. of
Hung To Industrial Building, 80 Hung To Road, Kowloon, Hong Kong.)
Mortgagee: DBS Bank
(Hong Kong) Ltd., Hong Kong.
Profit or Loss: Made small profits in past years.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active use of
general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Bankers:- The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
DBS Bank (Hong
Kong) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 250,000 ordinary shares of HK$1.00 each, Max Trade Limited
is jointly owned by Dhananjay Malhotra, holding 49% interests; and Mamta
Malhotra, holding 51%.
They are Hong Kong ID holders and have got the right to reside in
Hong Kong. They are also directors
of the subject.
The subject is trading in the following products:
Buttons of all types, zippers, buckles, stoppers, webbings, laces,
ribbons, fancy embellishments, labels, tags, thread, interlinings, etc.
The followings are its product categories:
Laces, Zippers, Labels, Interlining, Thread, Beaded Bags, Belts,
Drawcord Elastics, Fashions Accessories, Fur Hangers, Metal Hardware, Packaging
Material, Plastic Hardware, Pocketing, Tapes, Velcro, Waistband, Wooden
Hardware, Zipper, etc.
Commodities are chiefly sourced from China. Prime markets are the other Asian countries,
the United States, Europe, South America, etc.
The subject has maintained regular suppliers and foreign customers. Business is steady.
The business of the subject is chiefly handled by the two
shareholders. History in Hong Kong is
over 22 years and a month.
On the whole, consider it good for normal credit requirements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.07 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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HKD |
1 |
INR 8.20 |
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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VIV |
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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
·
Company
background and operations size
·
Promoters
/ Management background
·
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.