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MIRA INFORM REPORT
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Report No. : |
485042 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
NEXT LINK LIMITED |
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Registered Office : |
Unit 906, 9/F., Laford Centre, 838 Lai Chi Kok Road, Cheung Sha Wan,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
15.06.2009 |
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Com. Reg. No.: |
50791730 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Garments, Fabrics,
Garment Accessories. |
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No. of Employees : |
4 |
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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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, 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
NEXT LINK
LIMITED
ADDRESS: Unit
906, 9/F., Laford Centre, 838 Lai Chi Kok Road, Cheung Sha Wan, Kowloon,
Hong Kong.
PHONE: 852-9313
6153
FAX: 852-6625
6046
E-MAIL: nextlinkhk@gmail.com
MANAGEMENT
Managing Director:
Ms. Manpreet Kaur Brar
SUMMARY
Incorporated on: 15th June, 2009.
Organization: Private
Limited Company.
Issued Share Capital: HK$1.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
C/o Attain Secretarial Services Ltd.
Unit 1109, 11/F., Kowloon Centre, 33 Ashley Road,
Tsimshatsui, Kowloon, Hong Kong.
Operating Office:-
Unit 906, 9/F., Laford Centre, 838 Lai Chi Kok Road,
Cheung Sha Wan, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
50791730
COMPANY
FILE NUMBER
1345764
MANAGEMENT
Managing Director:
Ms. Manpreet Kaur
Brar
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 15-06-2017)
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Name |
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No. of share |
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Manpreet Kaur BRAR |
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1 = |
DIRECTOR
(As per registry dated 15-06-2017)
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Name (Nationality) |
Address |
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Manpreet Kaur BRAR |
Brar Industries, New Mandi, Gharsana, Dist, Sri
Ganganagar, RAJ, India. |
SECRETARY
(As per registry dated 15-06-2017)
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Name |
Address |
Co. No. |
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Attain Secretarial Services Ltd. |
Unit 1109, 11/F., Kowloon Centre, 33 Ashley Road,
Tsimshatsui, Kowloon, Hong Kong. |
2330644 |
HISTORY
The subject was incorporated on 15th June, 2009 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: All
kinds of garments, fabrics, garment accessories.
Employees: 4.
Commodities Imported: China,
other Asian countries, etc.
Markets: India,
other Asian countries, Europe, US, 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$1.00
Mortgage or Charge:
(See attachment)
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: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued just
one ordinary share of HK$1.00, Next Link Limited is wholly-owned by Ms.
Manpreet Kaur Brar who is an India merchant.
She is a Hong Kong ID
holder and has got the right to reside in Hong Kong. She is also the only director of the subject.
M K Brar can be
reached at her Hong Kong mobile phone number 852-9313 6153.
The registered
address of the subject is in a commercial service firm located at ‘Unit 1109,
11/F., Kowloon Centre, 33 Ashley Road, Tsimshatsui, Kowloon, Hong Kong’ known
as ‘Attain Secretarial Services Ltd.’ [Attain] which is handling its
correspondences and documents. Attain is
also the corporate secretary of the subject.
The subject is a
garment, fabric and garment accessories trader.
It is trading in the following products:
Men’s and women’s
wear; Ladies’ Wear, Ladies’ Shirt Dress; Pants; Children’s Wear; Top Dress;
Sportswear & Casual Wear; Jacket/Jacket T-Shirt Leisure Sportswear; Textile
Raw Materials and Fabrics; Cotton/Blended Chemical Fibre/Blended Linen/Blended;
Cotton/Blended Garment Accessories; Textile raw materials, etc.
Most of the
commodities are sourced from China.
The subject has been
taking part in Canton Fair which is held in Guangzhou City, Guangdong Province,
China biannually.
Now, the subject has
developed business ties with a number of suppliers in Southern China. Business is active.
The subject’s
products are exported to India, other Asian countries, Europe, the United
States, etc. One of the subject’s US customers is Life & Style Fashions
which is in New York, the United States.
The business of the
subject is chiefly handled by M K Brar herself.
History in Hong Kong is over eight years and six months.
On the whole,
consider the subject good for normal business engagements in moderate credit
amounts.
MORTGAGE
OR CHARGE
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Date |
Description
of Instrument |
Mortgagee |
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09-07-2014 |
Assignment of Receivables –
General |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
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09-07-2014 |
Assignment of DC Proceeds |
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.83 |
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1 |
INR 86.28 |
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Euro |
1 |
INR 76.14 |
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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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PRA |
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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
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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.