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MIRA INFORM REPORT
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Report No. : |
484611 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GIFT U IDEA LIMITED |
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Registered Office : |
Unit 11, 12/F., Block B, Veristrong Industrial
Centre, 34-36 Au Pui Wan Street, Fo Tan, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.08.2016 |
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Com. Reg. No.: |
66515421 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, exporter and wholesaler of electronics components such as rubber & rod antennas, connectors, cable assembly, PDA Stylus, electronics Gadget: Stylus, phone accessories, tablet accessories, Bluetooth products |
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No. of Employees : |
8 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Very small company |
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Payment Behaviour : |
Slow |
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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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. 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 and address
GIFT U
IDEA LIMITED
ADDRESS: Unit 11, 12/F., Block B, Veristrong Industrial
Centre, 34-36 Au Pui Wan Street, Fo Tan, New Territories, Hong Kong.
PHONE: 852-2345 0215
FAX: 852-2797 8191
E-MAIL: sales@bondale.com
MANAGEMENT:
Managing Director: Mr. Lai Shing Chi
SUMMARY
Incorporated on: 5th
August, 2016.
Organization:
Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
8.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit 11, 12/F., Block B, Veristrong
Industrial Centre, 34-36 Au Pui Wan Street, Fo Tan, New Territories, Hong Kong.
Associated Companies:-
Bondale Electronics Ltd., Hong Kong. (same
address)
Hanyang (Boluo) Electronics Ltd., China.
BUSINESS
REGISTRATION NUMBER
66515421
COMPANY
FILE NUMBER
2412160
MANAGEMENT
Managing Director: Mr. Lai Shing Chi
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 05-08-2017)
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Name |
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No. of shares |
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LAI Tsui Shan |
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5,000 |
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LAI Shing Chi |
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5,000 |
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––––– |
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Total: |
10,000 ===== |
DIRECTOR
(As per registry dated 05-08-2017)
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Name (Nationality) |
Address |
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LAI Shing Chi |
Flat H, 55/F., Block 5, Sorrento, 1 Austin
Road West, Tsimshatsui, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 05-08-2017)
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Name |
Address |
Co. No. |
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Jaford Accounting & Secretaries Ltd. |
Room 1914-1915, 19/F., Park-In Commercial Centre,
56 Dundas Street, Kowloon, Hong Kong. |
0170821 |
HISTORY
The subject was incorporated on 5th August,
2016 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: Electronics
components such as rubber & rod antennas, connectors, cable assembly, PDA
Stylus, etc. Electronics Gadget: Stylus,
phone accessories, tablet accessories, Bluetooth products.
Employees: 8.
Commodities Imported: China, other Asian countries, etc.
Markets: China,
Europe, Australia, other Asian countries, North & South America, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying:
L/C, T/T, D/P, O/A,
etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made small profits in past year.
Condition:
Keeping in a
satisfactory manner.
Facilities:
Making rather
active use of general banking facilities.
Payment:
Slow.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Gift U Idea
Limited is equally owned by Ms. Lai Tsui Shan and Mr. Lai Shing Chi, both of
whom are Hong Kong merchants. The latter
is also the only director of the subject.
The subject has had an associated company located at the same
address known as Bondale Electronics Ltd. [Bondale] which is also a Hong
Kong-registered company.
The subject and Bondale are engaged in the same lines of business,
more or less.
The subject is trading in electronics components such as rubber
& rod antennas, connectors, cable assembly, PDA Stylus, Electronics Gadget:
Stylus, phone accessories, tablet accessories, Bluetooth products, etc.
The subject is significant for the following products:
Connectors
WIFI Antenna
UHF Antenna
GPS Antenna
GSM Antenna
FM Antenna
VHF Antenna
Sucke Antenna
Cable Assembly
ROD Antenna, etc.
Products are marketed in Hong Kong, China and exported to the
following districts and countries:
Australasia, Central & South America, Eastern Europe, Japan,
North America, Other Asian Countries, Southeast Asia, Taiwan, Western Europe,
etc.
The subject’s associated factories are in Boluo, Guangdong
Province, China known as Hanyang (Boluo) Electronics Ltd.
The China factory has got ISO 9001 and ISO14001
certification. Besides, the China
factory has passed auditing by 3rd party auditors. It also has set up its own supporting teams
and departments such as PD (Design, sourcing, engineer), tooling department,
plastic department, metal department, production line, QC team, packing team,
etc.
The China factory has been equipped with the following machines:
Printing machines; CNC tooling, electro-discharge machines,
injections machines, lathing machines, testing machines (Corrosion Test
Machine, HTTH test), heat pressing machines (for packing), etc.
The history of the subject in Hong Kong is just over a year and five
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.67 |
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1 |
INR 86.11 |
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Euro |
1 |
INR 76.59 |
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HKD |
1 |
INR 8.14 |
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 : |
TRU |
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.