MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL  PRAISE  LTD.

 

 

Registered Office :

c/o Gee Kay Systems & Accounting Ltd., Room 1308, 13/F., CEO Tower, 77 Wing Hong Street, Cheung Sha Wan, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

02.06.2011

 

 

Com. Reg. No.:

58460850

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

----

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

 

Status :

New Business

 

 

Payment Behaviour :

---

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

GLOBAL  PRAISE  LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o Gee Kay Systems & Accounting Ltd.

Room 1308, 13/F., CEO Tower, 77 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

58460850

 

 

COMPANY FILE NUMBER

 

1611183

 

 

DATE OF INCORPORATION

 

2nd June, 2011.

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$10,000.00

 

SHAREHOLDERS

(As per registry dated 02-06-2011)

 

Name

 

No. of shares

T & T Registrations Ltd., Hong Kong.

 

1

Swinder Singh JUNEJA

 

9,999

 

 

––––––

 

Total:

10,000

=====

 

 

DIRECTOR

(As per registry dated 02-06-2011)

 

Name

(Nationality)

 

Address

Swinder Singh JUNEJA

480, G/F., Double Storey, New Rajinder Nagar, New Delhi, India 110060.

 

 

SECRETARY

(As per registry dated 02-06-2011)

 

Name

Address

Co. No.

Gee Kay Systems & Accounting Ltd.

Room 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong.

0680643

 

 

GENERAL

 

Global Praise Ltd. was incorporated on 2nd June, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

Having issued 10,000 ordinary shares of HK$1.00 each, the subject is wholly‑owned by Swinder Singh Juneja who is an Indian.  He is also the only director of the subject.  Juneja is an India passport holder and does not have the right to reside in Hong Kong permanently.  Currently he is residing in New Delhi, India.

The subject does not have its own operating office.  Its registered office is in an accountant firm located at Room 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong known as Gee Kay Systems & Accounting Ltd. [Gee Kay] which is handling its correspondences and documents.  Gee Kay is also the corporate secretary of the subject.  Formerly, Gee Kay was located at Room 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong, moved to the present address with effect from 18th August, 2011, so did the subject.

At the very beginning, the registered address of the subject was located at Room 510-511, 5/F., Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong where is the operating address of a secretarial firm known as T & T Secretarial Ltd.  In July 2011, the registered address of the subject moved to Room 710, 7/F., Block B, Alexandra Industrial Building, 1064 Tung Chau West Street, Lai Chi Kok, Kowloon, Hong Kong as the subject has changed its commercial service provider to Gee Kay since then.

The subject has no employees in Hong Kong.

The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it.

The director of the subject cannot be reached as he is in India.  It is likely that the subject is an electronic product and telecommunication product trader.

It is likely that the subject has got an associated company in New Delhi, India which is operated by Juneja.

It is also likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  The India firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is just over five months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

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