MIRA INFORM REPORT
|
Report Date : |
25.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
TIME
TRADE LTD. |
|
|
|
|
Registered Office : |
c/o
Buttar.HK Ltd., Unit T, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam
Street, Jordan, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
13.01.2011 |
|
|
|
|
Com. Reg. No.: |
53659038 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Wholesaler of all kinds of mobile phones, accessories, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Nb |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Company |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
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 – 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
TIME TRADE
LTD.
Company ADDRESS
c/o Buttar.HK Ltd.
Unit T, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 2312 0148
FAX: 2375 6513
MANAGEMENT
Managing Director: Mr. Deepak Nayyar
SUMMARY
Incorporated on: 13th January, 2011.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
c/o Buttar.HK Ltd.
Unit T, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
53659038
COMPANY FILE NUMBER
1551224
MANAGEMENT
Managing Director: Mr. Deepak Nayyar
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 24-01-2011)
|
Name |
|
No. of shares |
|
GNL11 Ltd., Hong Kong. |
|
1 |
|
Deepak NAYYAR |
|
9,999 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
DIRECTOR
(As per registry
dated 24-01-2011)
|
Name (Nationality) |
Address |
|
Deepak NAYYAR |
B-114 Ganesh Nagar, New Delhi-110018, India. |
SECRETARY
(As per registry
dated 24-01-2011)
|
Name |
Address |
Co.
No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16‑18 Mau Lam Street, Jordan, Kowloon, Hong Kong. |
0975326 |
HISTORY
The subject was incorporated on 13th January, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 1001-4A, Champion Building, 287-291 Des Voeux Road, Central, Hong Kong where was the operating address of a commercial service provider Gateway Registrations Ltd. The subject moved to the present address with effect from 24th January, 2011 as it has changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of mobile phones, accessories, etc.
Employees: Nil.
Commodities Imported: China, other Asian countries, Europe, etc.
Markets: Asian countries, Middle East, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Having issued 10,000 ordinary shares of HK$1.00 each, Time Trade Ltd. is wholly owned by Mr. Deepak Nayyar who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. Being the only director of the subject, currently he is residing in New Delhi, India.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at ‘Unit T, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong’ known as ‘Buttar.HK Ltd.’ which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
The subject is trading in all kinds of mobile phones and accessories. It is carrying GSM/PCS mobile phones and accessories such as Motorola, Nokia, Sony Ericsson, Samsung, LG, Sharp, Panasonic/NEC, etc.
The subject has registered with the Office of the Telecommunications Authority (OFTA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. It bears the licence No. of RU00144371 - RU.
The subject exports its products to some of the Asian countries, Europe, etc.
It is likely that the subject has got an associated company in India which is also operated by Nayyar. The India firm is also a mobile phone trader.
It is 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/imports commodities to/from 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 nine months.
On the whole, since the subject does not have its own operating office, history is short 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.50.07 |
|
UK Pound |
1 |
Rs.79.16 |
|
Euro |
1 |
Rs.69.04 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.