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MIRA
INFORM REPORT
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Report No. : |
507204 |
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Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ALIED MAX ASIA LIMITED |
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Registered Office : |
Room 1109, 11/F., Nan Fung Commercial
Centre, 19 Lam Lok Street, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.01.2014 |
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Com. Reg. No.: |
62629183 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Ceramic Tiles,
Porcelain Tiles, other Building materials, Bathroom ware |
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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 : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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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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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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
ALIED MAX
ASIA LIMITED
ADDRESS: Room 1109, 11/F., Nan Fung Commercial
Centre, 19 Lam Lok Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: Not available
MANAGEMENT:
Managing Director: Mr. Qasim Muhammad
SUMMARY
Incorporated on: 14th
January, 2014.
Organization:
Private Limited
Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 1109, 11/F., Nan Fung Commercial Centre,
19 Lam Lok Street, Kowloon Bay, Kowloon, Hong Kong.
Associated Company:-
Elements Industries, Hong Kong. (Same address)
BUSINESS REGISTRATION NUMBER
62629183
COMPANY FILE NUMBER
2025684
MANAGEMENT
Managing Director: Mr. Qasim Muhammad
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 14-01-2018)
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Name |
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No. of shares |
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Qasim MUHAMMAD |
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10,000 ===== |
DIRECTOR
(As per registry dated 14-01-2018)
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Name (Nationality) |
Address |
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Qasim MUHAMMAD |
Flat 1702, 17/F., Hong Wah House, Cheung
Hong Estate, Tsing Yi, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 14-01-2018)
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Name |
Address |
Co. No. |
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United Best Consultants Ltd. |
14/F., The Broadway, 54-62 Lockhart Road,
Wanchai, Hong Kong. |
1324807 |
HISTORY
The subject was incorporated on 14th January,
2014 as a private limited liability company under the Hong Kong Companies
Ordinance.
Originally the subject was registered under
the name of Shenzhen Sun Star Co. Ltd., name changed to Crimaon Rise Ltd. on
24th August, 2015 and further changed to the present style on 12th June, 2016.
Apart from these, neither material change nor
amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines:
Ceramic Tiles,
Porcelain Tiles, other Building materials, Bathroom ware
Employees: 3.
Commodities
Imported:
China, other Asian
countries, etc.
Markets:
Southeast Asia, United
States, Europe, etc.
Terms/Sales:
As per contracted.
Terms/Buying:
As per contracted.
FINANCIAL INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Made small
profits in past three years.
Condition: Business is normal.
Facilities: Adequate for current running.
Payment:
Slow but
Correct.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Alied Max Asia Limited is a limited company
solely owned by Mr. Qasim Muhammad.
He is a Hong Kong ID holder and has got the
right to reside in Hong Kong. He is also
managing director of the subject. Q
Muhammad has been in Hong Kong for a very long time as he has got his Hong
Kong ID before setting up the subject.
The subject has had an associated company
known as Elements Industries [EI] located at the same address. EI is a sole proprietorship set up and owned
by Mr. Qasim Muhammad. The subject and
EI are engaged in the same lines of business, more or less. EI was established on 15th April, 2013.
The subject is trading in the following
commodities:
Ceramic Tiles, Porcelain Tiles
Furniture
Building Materials
Sanitary Ware, Bathroom Ware,
Other materials for decorations, etc.
Most of the commodities are sourced from
Foshan City, Guangdong Province, China.
The subject’s main markets are India, other
Asian countries, the United States, Europe, etc.
The business of the subject is chiefly
handled by Mr. Qasim Muhammad himself.
History in Hong Kong is over four years and three months.
The contact person of the subject is a Mr.
Raju.
On the whole, consider it good for normal
business engagements in small 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 66.77 |
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1 |
INR 90.58 |
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Euro |
1 |
INR 79.97 |
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HKD |
1 |
INR 8.54 |
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 : |
KET |
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.