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MIRA INFORM REPORT
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Report No. : |
493296 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ANAGON LIMITED |
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Registered Office : |
Unit 803, 8/F., Block A, Po Lung Centre, 11 Wang Chiu Road,
Kowloon Bay, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
21.12.1990 |
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Com. Reg. No.: |
14140527 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and
Wholesaler of Health
and beauty products, cosmetics, home appliances, gifts, utensils, kitchen
ware and table ware, toys, adornments, decoration products, track &
training suites. |
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No. of Employees : |
7. (Including
Affiliate) |
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 : |
Good |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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, which took effect in 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 2.6% in 2016, but slowed to 2.0% in 2017. 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. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
COMPANY
NAME AND ADDRESS
ANAGON
LIMITED
ADDRESS: Unit
803, 8/F., Block A, Po Lung Centre, 11 Wang Chiu Road, Kowloon Bay,
Kowloon, Hong
Kong.
PHONE: 852-2754
7170, 2754 7168
FAX: 852-2754
5096
MANAGEMENT
Managing Director:
Mr. Parshid Sheriar Falahati
SUMMARY
Incorporated on: 21st December, 1990.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 7. (Including associate)
Main Dealing Banker: Habib
Bank Zurich (Hong Kong) Limited, Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office & Warehouse:-
Unit 803, 8/F., Block A, Po Lung Centre, 11 Wang Chiu
Road, Kowloon Bay, Kowloon, Hong Kong.
Related Companies:-
Silverside Ltd., Hong Kong. (Same address)
Tyece Ltd., Hong Kong.
(Same address)
BUSINESS
REGISTRATION NUMBER
14140527
COMPANY
FILE NUMBER
0294474
MANAGEMENT
Managing Director:
Mr. Parshid Sheriar Falahati
Contact Person: Ms. Sarah Wong
ISSUED
SHARE CAPITAL
HK$10,000.00 (1,000 fully paid ordinary shares)
SHAREHOLDERS
(As per registry dated 21-12-2017)
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Name |
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No. of shares |
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Parshid Sheriar FALAHATI |
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999 |
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Dilkash FALAHATI |
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1 |
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––––– |
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Total: |
1,000 ==== |
DIRECTORS
(As per registry dated 21-12-2017)
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Name (Nationality) |
Address |
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Dilkash FALAHATI |
Flat A, 21/F., Block 7, Laguna City, Cha Kwo Ling,
Kowloon, Hong Kong. |
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Parshid Sheriar FALAHATI |
Flat A, 21/F., Block 7, Laguna City, Cha Kwo Ling,
Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 21-12-2017)
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Name |
Address |
Co. No. |
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M. Y. Secretaries Ltd. |
Rooms C-E, 9/F., China Overseas Building, 139 Hennessy
Road, Wanchai, Hong Kong. |
0608706 |
HISTORY
The subject was
incorporated on 21st December, 1990 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly the subject
was located at ‘Rooms 502-504, 5/F., Po Hing Centre, 18 Wang Chiu Road,
Kowloon Bay, Kowloon, Hong Kong’, moved to the present address in June
2015.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: mporter
and Wholesaler.
Lines: Health and beauty
products, cosmetics, home appliances, gifts, utensils, kitchen ware and
table ware, toys, adornments, decoration
products, track & training suites.
Employees: 7.
(Including affiliate)
Commodities Imported: Imported
from China, Europe, other Asian countries, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
(1,000 fully paid ordinary shares)
Profit or Loss: Business
is profitable.
Condition: Keeping
in an active state.
Facilities: Making
active use of general banking facilities.
Payment: Met as required.
Commercial Morality:
Satisfactory.
Banker: Habib Bank Zurich (Hong
Kong) Limited, Hong Kong.
Standing: Good.
GENERAL
Incorporated in
December 1990, Anagon Limited formerly was almost a wholly-owned subsidiary of
Midland Investments Ltd. which was a Gibraltar-registered firm.
Now, the subject is almost
wholly-owned by Mr. Parshid Sheriar Falahati while the minor shareholder is
Dilkash Falahati. The two shareholders
seem to be Germany merchants.
Now, they are Hong
Kong ID holders and have got the right to reside in Hong Kong. They are also the directors of the subject.
The subject is
trading in the following commodities:
Health and beauty
products, cosmetics, home electric appliances, gifts, utensils, kitchen ware
and table ware, toys, adornments, decoration products, track & training
suites, etc.
Commodities are
sourced from China and the other Asian countries. Prime markets are Asian countries, Europe,
North America, Australia, etc.
Actually, the subject
is a trading company and carries varieties commodities. It also offers OEM/ODM services.
There is another
company known as Silverside Ltd. [Silverside], a Hong Kong-registered
company located at the same address.
Silverside and the subject are engaged in the same lines of business,
more or less. The business of Silverside
is handled by Mr. Stefan Behr-Heyder who is the Managing Director.
Besides, another
company known as Tyece Ltd. [Tyece] is also located at the same address.
Tyece is trading in
home health care products. It has been
working with partners and associates with significant experience in the health
care industry.
Tyece is specialized
in the design, development and manufacture of state of the art health care
devices. Its line of products include
TENS (Transcutaneous Electrical Nerve Stimulators), Electrical Muscle
Stimulators, Electronic Muscle Toning units and other Electro-Therapy devices.
The subject’s
business is chiefly handled by the two shareholders.
On the whole, having
a history of over 26 years and seven months in Hong Kong, the subject is
considered 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 65.10 |
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1 |
INR 90.47 |
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Euro |
1 |
INR 79.59 |
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HKD |
1 |
INR 8.32 |
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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VIV |
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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
·
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.