|
|
|
MIRA
INFORM REPORT
|
Report No. : |
491345 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOSS WIN LIMITED |
|
|
|
|
Registered Office : |
Flat OA-03, 3/F., Kaiser Estate, 3rd Phase,
No. 11 Hok Yuen Street, Hung Hom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
29.11.2006 |
|
|
|
|
Com. Reg. No.: |
37801956 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, exporter and wholesaler of Furniture, lighting products,
electric appliances, electrical products |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source : CIA |
Company name and address
GLOSS WIN LIMITED
ADDRESS: Flat OA-03, 3/F., Kaiser
Estate, 3rd Phase, No. 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
PHONE: Not
available
MANAGEMENT
Managing Director: Mr.
Girish Shrichand Punjabi
SUMMARY
Incorporated on: 29th
November, 2006.
Organization:
Private Limited
Company.
Issued Share Capital: 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.
ADDRESS
Registered Head Office:
Flat OA-03, 3/F., Kaiser Estate, 3rd Phase,
No. 11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
37801956
COMPANY FILE NUMBER
1091410
MANAGEMENT
Managing Director: Mr.
Girish Shrichand Punjabi
ISSUED SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 29-11-2017)
|
Name |
|
No. of share |
|
Girish Shrichand PUNJABI |
|
1 = |
DIRECTOR
(As per registry dated 29-11-2017)
|
Name (Nationality) |
Address |
|
Girish Shrichand PUNJABI |
6/213, Shankar Kunj Building, Opp Sion
Hosp, Sion (E), Mumbai 400022, India. |
SECRETARY
(As per registry dated 29-11-2017)
|
Name |
Address |
Co. No. |
|
Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux
Road Central, Sheung Wan, Hong Kong. |
1273165 |
HISTORY
The subject was incorporated on 29th
November, 2006 as a private limited liability company under the Hong Kong
Companies Ordinance.
Formerly the subject’s registered address was
located at 20/F., Champion Building, 287-291 Des Voeux Road Central,
Sheung Wan, Hong Kong where was the operating office of a commercial
service provider known as Akin Professionals Ltd. The subject moved to the present address in
August 2017.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: Furniture, lighting
products, electric appliances, electrical products.
Employees: 2.
Commodities Imported: Imported from China, other Asian countries, etc.
Markets: India, other Asian countries,
Europe, Canada, USA, etc.
Terms/Sales: As
per contracted.
Terms/Buying:
CAD or as per
contracted, etc.
FINANCIAL INFORMATION
Issued Share Capital: HK$1.00
Profit or Loss: Made
very small profits in past years.
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
Gloss Win Limited was incorporated on 29th
November, 2006 as a private limited liability company.
The subject moved to the present address in
August 2017.
According to the Companies Registry of Hong
Kong, the subject has issued just one ordinary share of HK$1.00 which is owned
by Mr. Girish Shrichand Punjabi who is an India merchant. He is an India passport holder and does not
have the right to reside in Hong Kong.
He is also the only director of the subject.
The subject is trading in varieties of
commodities such as follow:
Furniture, Sofa, Coffee Table, Lighting
Products, Crockery, Kitchen Accessories, Household Accessories, Electric
Appliances, Electronic Products, Textile Products, Premium Products, Art &
Craft Products, Speakers, Hi-Fi Equipment, etc.
Commodities are chiefly sourced from
China. Prime markets are India, other
Asian countries, Europe, Canada, the United States, etc.
One of its customers in India is known as RK
Exports. It also has got other customers
in Canada and the United States. One of
its US customers is Broadmoor Colorado Springs which is in IL, the United
States. Some of its customers are
restaurants.
The subject’s business is chiefly handled by
Mr. Girish Shrichand Punjabi himself.
The subject’s history in Hong Kong is over
eleven years and two months.
On the whole, consider it good for business
engagements in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
HKD |
1 |
INR 8.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.