3decades

MIRA INFORM REPORT

Report No. :	489118
Report Date :	30.01.2018

IDENTIFICATION DETAILS

Name :	EXCELLA EXPERTISE (SINO) LIMITED

Registered Office :	C/o Multi-Chain Ltd. Room 301, 3/F., Kam On Building, 176A Queen’s Road Central

Country :	Hongkong

Date of Incorporation :	26.02.2011

Com. Reg. No.:	58008991

Legal Form :	Private limited liability company

Line of Business :	The subject is trading in the following commodities:- · Building Materials: · Furniture: · Lighting Products: · Decorative Products: · F&B Products: · Others:

No. of Employees :	No Employees in Hong Kong. NOTE: It is to be noted that the company does not have its own operating office in Hong Kong. The company uses the address of its secretariat as its correspondence address only. Subject operates from some other country and does not have a base in Hong Kong. Such companies are registered in Hong Kong just to tax benefit purpose and due to the strict privacy laws prevailing in the country. In such cases, the companies are not required to have any employees in Hong Kong nor do have an office there.

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	No Operating Office in Hong Kong

Payment Behaviour :	Unknown

Litigation :	--

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)

Hongkong

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, 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.

Source : CIA

Company name and address

EXCELLA EXPERTISE (SINO) LIMITED

ADDRESS:

Registered Office:-

C/o Multi-Chain Ltd.

Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.

Associated Company:-

Excella Expertise Worldwide Pvt. Ltd., India.

BUSINESS REGISTRATION NUMBER

58008991

COMPANY FILE NUMBER

1566110

DATE OF INCORPORATION

26th February, 2011.

ISSUED SHARE CAPITAL

HK$500,000.00

SHAREHOLDER

(As per registry dated 26-02-2017)

Name

No. of shares

Nitesh Nareshkumar GARG

500,000

======

DIRECTOR

(As per registry dated 26-02-2017)

Name

(Nationality)

Address

Nitesh Nareshkumar GARG

C1002 Haojingfeng, Aoyuan Zone, Lecong Town, Shunde District, Foshan City, Guangdong, China.

SECRETARY

(As per registry dated 26-02-2017)

Name	Address	Co. No.
Multi-Chain Ltd.	Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.	0209214

GENERAL

Excella Expertise (Sino) Limited was incorporated on 26th February, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at ‘Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong’ known as ‘Multi-Chain Ltd.’ which is handling its correspondences and documents. Multi-Chain is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 500,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Nitesh Nareshkumar Garg who is an India merchant.

He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. His registered address is in Foshan City, Guangdong, China.

The subject is a furniture manufacture and trader. It has had an associated company in India known as Excella Expertise Worldwide Pvt. Ltd. [EEW] which is an India-based company. The subject and EEW are engaged in the same lines of business, more or less.

The main office of the subject is in Foshan City, Guangdong Province, China.

The subject is one of the leading direct importers and sourcing suppliers located in Foshan City, Guangdong Province, China.

The brief information of the China Company is as follow:

Name: Foshan Excella Expertise Worldwide Co., Ltd.

Address: 2, 4/F., 1-Block A, Defu Plastic City Commercial Centre,
52-54 Construction Road, East District, Lecong Town, Shunde District, Foshan City, Guangdong Province, China.

Post Code: 528300

Date of Incorporation: 23rd November, 2013.

Organization Code: 56452001X

Legal Status: Limited Liability Company (owned by foreign natural person)

Registered Capital: RMB500,000.00 Yuan

Duration: 23-11-2010 to 22-11-2030 (20 years)

United Social Credit Code: 9144060656452001XR

Registry: Foshan City Shunde District Marketing Administration & Managing Bureau

Director & Legal Representative: Mr. Nitesh Nareshkumar Garg

It is a direct importer and also coordinates for the turnkey purchase sourcing for projects like Hotels, Resorts, Clubhouses, Schools, Colleges, and Offices and Bungalows in association with an established company in India.

The subject also acts as a service provider to various companies for their overseas business from China.

The subject is trading in the following commodities:-

Building Materials:

· Marbles & Tiles;

· Glass & Composite Panels;

· Architectural Hardware;

· Bathroom Fittings;

· Sanitary Wares;

· Construction Machinery;

· Doors and Windows;

· Metal, Gypsum Ceilings;

· Ceiling; &

· Flooring Laminates.

Furniture:

· Room Furniture;

· Hotel Furniture;

· Banquet and Restaurant Furniture;

· Office furniture;

· Industrial furniture;

· Hospital furniture;

· School furniture;

· Modular furniture; &

· Outdoor / Garden furniture.

Lighting Products:

· LED lights;

· Facade Lightings and Chandeliers;

· Decorative Lights; &

· Outdoor Lights.

Decorative Products:

· Paintings & Artefacts;

· Statues & Sculptures;

· Wall papers; &

· Artificial Grass / Plants.

F&B Products:

· Kitchen Equipment;

· Cutlery;

· Crockery; &

· Glassware & Hollowware;

· All kinds of table ware, etc.

Others:

· Spa-Jacuzzi;

· LED Screens;

· Golf Equipment;

· Sports Equipment;

· Working Platforms;

· Modular Kitchens;

· Hotel Accessories;

· Carpets; &

· Wooden Log Houses.

Products are exported to India, other Asian countries, the Middle East, etc. The subject’s associated company in India is responsible for distributing the subject’s commodities in India.

According to the China Company, the United Arab Emirates is one of the prime markets of the subject.

Besides, the subject also exports its products to the United States. One of its major customers in the United States is America Real Estate Group LLC.

The subject’s business in Hong Kong is not active. History in Hong Kong is over six years and six months.

The business of the subject is chiefly handled by Mr. Nitesh Nareshkumar Garg himself who is in China most of the time.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis or in small credit amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.55
UK Pound	1	INR 89.82
Euro	1	INR 78.87
HKD	1	INR 8.14

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV

Report Prepared by :	NIT

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.