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MIRA INFORM REPORT
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Report No. : |
484632 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
NICE QUALITY PACKAGING LIMITED |
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Registered Office : |
Flat A & B, 3/F., Everwin Centre, 72 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.12.2003 |
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Com. Reg. No.: |
34646846 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
The subject is a printing company. ·
It is engaged in
the following business scope: Bar Code / Label Printing, Offset
Printing, Silk Screen Printing, Swing Tickets, Woven Labels, Self-Adhesive
Labels, Patches, Embroidery, Boxes |
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No. of Employees : |
25 |
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, 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 & address
NICE QUALITY PACKAGING LIMITED
ADDRESS: Flat A & B,
3/F., Everwin Centre, 72 Hung To Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2344 3885
FAX: 852-2344 6835
E-MAIL: johnny@nicequality.com.hk
sales@nicequality.com.hk
MANAGEMENT
Managing Director: Mr. Hui Chun
Kong
SUMMARY
Incorporated on: 24th December, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$100.00
Business Category: Printing
company.
Employees: 25.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Name
NICE QUALITY PACKAGING LIMITED
ADDRESS
Registered Head
Office:-
Flat A & B, 3/F., Everwin Centre, 72 Hung To Road, Kwun Tong,
Kowloon, Hong Kong.
Factory:-
Guangzhou Panyu Nice Quality Printing Co. Ltd.
Mingjing Xianling Industrial Village, Hualong Town, Panyu, Guangzhou,
Guangdong Province, China.
[Tel: 86-20-8475 6383; Fax:
86-20-8475 6645]
Associated
Companies:-
Hong Kong Kwun Tong Industries & Commerce Association Ltd., Hong
Kong.
Nice Quality Development Ltd., Hong Kong.
The Hong Kong Overseas Chinese Association of Commerce Ltd., Hong Kong.
BUSINESS
REGISTRATION NUMBER
34646846
COMPANY
FILE NUMBER
0876991
MANAGEMENT
Managing Director: Mr. Hui Chun
Kong
Contact Person: Mr. Yau Tang Wai,
Antony
ISSUED
SHARE CAPITAL
HK$100.00
SHAREHOLDERS
(As per registry dated 24-12-2017)
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Name |
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No. of shares |
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HUI Chun Kong |
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53 |
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YAU Tang Wai, Antony |
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47 |
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––– |
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Total: |
100 === |
DIRECTORS
(As per registry dated 24-12-2017)
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Name (Nationality) |
Address |
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YAU Tang Wai, Antony |
Flat C, 1/F., Block 7, Villa Concerto, Symphony Bay, Ma On Shan,
New Territories, Hong Kong. |
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HUI Chun Kong |
Flat A & B, 3/F., Everwin Centre, 72 Hung To Road, Kwun Tong,
Kowloon, Hong Kong. |
SECRETARY
HUI Chun Kong (As per registry dated 24-12-2017)
HISTORY
The subject was incorporated on 24th December, 2003 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Million Wealthy
Enterprises Ltd., name changed to the present style on 2nd July, 2004.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Printing
Company.
Lines: Bar
Code Products, Labels.
Employees: 25.
Commodities Imported: Southeast Asia,
Europe, etc.
Markets: Hong Kong, China, other Asian countries, etc.
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
MEMBERSHIP
The Chinese Manufacturers’ Association of Hong Kong, Hong Kong.
[Membership No. 009454]
FINANCIAL
INFORMATION
Issued Share Capital: HK$100.00
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
condition.
Facilities: Making rather active use of
general banking facilities.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Satisfactory.
GENERAL
Having issued 100 ordinary shares of HK$1.00 each, Nice Quality Packaging
Limited is jointly owned by Mr. Hui Chun Kong, holding 53% interests; and
Mr. Yau Tang Wai, Antony, holding 47%.
Being Hong Kong merchants, they are also directors of the subject.
The subject is a printing company.
It is engaged in the following business scope:
Bar Code / Label Printing, Offset Printing, Silk Screen Printing, Swing
Tickets, Woven Labels, Self-Adhesive Labels, Patches, Embroidery, Boxes.
Its factory known as Guangzhou Panyu Nice Quality Printing Co. Ltd. is
in Hualong Town, Panyu District, Guangzhou City, Guangdong Province,
China. It was set up in 1994. Its floor area is about 70,000 sq.ft. Its registered capital was HK$9.48 million.
The legal representative of the China factory is Mr. Hui Chun Mau who is
a family member of Mr. Hui Chun Kong.
Products are chiefly manufactured on OME terms. Prime markets are Hong Kong, China, the
other Asian countries, etc. Business is
normal.
According to the subject, it has had the following regular customers:
Swarovski, American Classic, McGregor, Carlsberg, etc.
The subject is a member of the Chinese Manufacturers’ Association of
Hong Kong. Its business is chiefly
handled by the two shareholders.
The overall business of the subject is satisfactory, no derogatory data
have been heard. History in Hong Kong is
over fourteen years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.35 |
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1 |
INR 85.89 |
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Euro |
1 |
INR 76.15 |
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HKD |
1 |
INR 8.13 |
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.