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MIRA INFORM REPORT
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Report No. : |
497828 |
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Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ORBI LAB LIMITED |
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Registered Office : |
Workshop 1, 12/F., Goodview Industrial Building, 11 Kin Fat Street,
Tuen Mun, New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
12.10.2015 |
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Com. Reg. No.: |
65336606 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of MilkShake 3D Printers. |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
ORBI LAB LIMITED
ADDRESS: Workshop 1, 12/F., Goodview
Industrial Building, 11 Kin Fat Street, Tuen Mun, New Territories, Hong Kong.
PHONE: 852-2656
3633
E-MAIL: eric@orbi-lab.com
MANAGEMENT
Managing Director:
Mr. Lai Man Chun
SUMMARY
Incorporated on: 12th October, 2015.
Organization: Private Limited Company.
Issued Share Capital: HK$100.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Workshop 1, 12/F., Goodview Industrial Building, 11 Kin
Fat Street, Tuen Mun, New Territories, Hong Kong.
BUSINESS
REGISTRATION NUMBER
65336606
COMPANY
FILE NUMBER
2295036
MANAGEMENT
Managing Director:
Mr. Lai Man Chun
ISSUED
SHARE CAPITAL
HK$100.00 (10,000 fully paid ordinary shares)
SHAREHOLDERS
(As per registry dated 12-10-2016)
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Name |
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No. of shares |
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LAI Man Chun |
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5,000 |
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HO Kwan Yeung |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 12-10-2016)
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Name
(Nationality) |
Address |
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HO Kwan Yeung |
Room F, 8/F., Block 1, Sun Shine Plaza, 17 Sung On
Street, Hunghom, Kowloon, Hong Kong. |
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LAI Man Chun |
Flat C, 27/F., Block 3, Seaview Garden, 1 Tsing Yung
Street, Tuenmun, New Territories, Hong Kong. |
SECRETARY
LAI Man Chun (As per registry dated 12-10-2016)
HISTORY
The subject was
incorporated on 12th October, 2015 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: MilkShake
3D Printers, etc.
Employees: 6.
Commodities Imported: Taiwan,
other Asian countries, etc.
Markets: Hong
Kong, China, other Asian countries, US, etc.
Terms/Sales: As per contracted.
Terms/Buying: Various
terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$100.00
(10,000 fully paid ordinary shares)
Profit or Loss: Made
a small loss in 2017.
Condition: Business
is improving.
Facilities: Adequate
for current running.
Payment: Met as required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
GENERAL
Orbi Lab Limited is
equally owned by Mr. Lai Man Chun and Mr. Ho Kwan Yeung, both are Hong Kong
merchants.
The two shareholders
are also directors of the subject.
Lai Man Chun and Ho
Kwan Yeung are good at 3D printing. Mr.
Lai Man Chun can be reached at his Hong Kong mobile phone number 852-9747 8256.
Formed by a group of
artists and engineers passionate and with years of experience in creatives,
productions, electronic development, the subject is creating new and innovative
tools for creative industries like the arts.
For this reason, the subject is engaged in distributing all kinds of 3D
printers. However, it is chiefly trading
in MilkShake 3D printers.
The brief information
of MilkShake 3D printer is as follow:
· Exclusive Agency: Exclusive distributor in Hong Kong
· Printing platform: Suitable for all sizes, from jewellery to large industrial products
· Maximum moulding size: 288 x 162 x 160 (mm)
· Operation: Milkshake3D print app, computer control
· Connection: supports all operating systems, Wifi, Ethernet connection
· Software: Automatically generate support software or manual erection support
· Material: Not fixed, Milkshake 3D is compatible with other photosensitive resins
The subject’s
products are chiefly marketed in Hong Kong, China and exported to the other
Asian countries, Europe, and North America, etc.
The business of the
subject is handled by the two shareholders.
History in Hong Kong is just over two years and five months.
On the whole, since
the history of the subject is short, consider it good for normal business
engagements on L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 90.56 |
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Euro |
1 |
INR 79.78 |
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HKD |
1 |
INR 8.31 |
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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NIS |
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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
·
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.