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MIRA INFORM REPORT
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Report No. : |
486497 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PAN GLOBAL ENTERPRISE LIMITED |
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Registered Office : |
F2-8, 2/F., Hang Fung Industrial Building, 2G Hok Yuen Street, Hung
Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.02.2010 |
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Com. Reg. No.: |
51841495 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Importer, Exporter and Wholesaler of Electronic
products, computer related products. |
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No. of Employees : |
3 |
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 and address
PAN GLOBAL ENTERPRISE LIMITED
ADDRESS: F2-8,
2/F., Hang Fung Industrial Building, 2G Hok Yuen Street, Hung Hom, Kowloon,
Hong Kong.
PHONE: 852-2364
7788
FAX: 852-2364
6788
E-MAIL: sanjay@panglobal.com.hk
MANAGEMENT
Managing Director:
Mr. Sanjay Natwarlal Pandhi
SUMMARY
Incorporated on:
23rd February, 2010.
Organization:
Private Limited Company.
Issued Share Capital: HK$1.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation:
Satisfactory.
PAN GLOBAL ENTERPRISE
LIMITED
ADDRESS:
Registered Office:-
c/o High Sky Ltd.
Unit 2307, 23/F., Enterprise Square Three, 39 Wang Chiu
Road, Kowloon Bay, Kowloon, Hong Kong.
Operating Office:-
F2-8, 2/F., Hang Fung Industrial Building, 2G Hok Yuen
Street, Hung Hom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER: 51841495
COMPANY FILE NUMBER:
1424306
MANAGEMENT
Managing Director:
Mr. Sanjay Natwarlal Pandhi
(Hong Kong Mobile Phone No.: 852-9359 1212)
ISSUED SHARE CAPITAL:
HK$1.00
SHAREHOLDER
(As per registry dated 23-02-2017)
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Name |
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No. of share |
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Sanjay Natwarlal PANDHI |
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1 = |
DIRECTOR
(As per registry dated 23-02-2017)
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Name (Nationality) |
Address |
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Sanjay Natwarlal PANDHI |
Flat B, 35/F., Block 1, Shewrood Court, Kingswood
Villas, Tin Shui Wai, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 23-02-2017)
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Name |
Address |
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Madhavi Sanjay PANDHI |
Flat B, 35/F., Block 1, Sherwood Court, Kingswood
Villas, Tin Shui Wai, New Territories, Hong Kong. |
HISTORY
The subject was incorporated on 23rd February, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at ‘Unit 20, 12/F., Chevalier Commercial Centre, 8 Wang Hoi Road, Kowloon Bay, Kowloon, Hong Kong’, moved to the present address with effect from 30th June, 2017.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Electronic
products, computer related products, etc.
Employees: 3.
Commodities Imported: China,
other Asian countries, Europe, etc.
Markets: Asian
countries, Europe, North America, Middle East, etc.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$1.00
Profit or Loss: Made
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: Normal.
GENERAL
Having issued just one ordinary share of HK$1.00, Pan Global Enterprise Limited is wholly owned by Mr. Sanjay Natwarlal Pandhi who is an India merchant. He is a Hong Kong ID holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject is trading in the following commodities:
Keyboards, Computer Accessories, Electronic Products, Telecommunication Products and Equipment, Auto accessories, Daily Accessories, etc.
Digital cameras, video cameras, camera accessories, iPods, iPads, calculators, Memory cards, etc.
Furniture Hardware, Furniture Accessories, Chemical Reagent, Chemical Compounds, Car Parts and Accessories, Car Video System, Machine Tools, Scrap Metals, Screws, Iron Nails, etc.
According to the subject, it is trading in its own brand name products. It also trades in OEM brands and products.
The subject sources its commodities from China, other Asian countries, Europe and exports to worldwide countries. Business is normal. India is one of its main markets. It has had associated companies in India which are distributors of the subject’s products.
The business of the subject is chiefly handled by Mr. Sanjay Pandhi himself.
As the history of the subject is about eight years in Hong Kong, on the whole, consider it good for normal credit requirements in moderate credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.97 |
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1 |
INR 88.12 |
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Euro |
1 |
INR 78.34 |
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HKD |
1 |
INR 8.16 |
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 : |
DNS |
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
·
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.