MIRA INFORM REPORT

 

 

Report Date :           

19.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SWIFT  TRADING  LTD.

 

 

Formerly Known As :

Himalayan Finance Ltd.

 

 

Registered Office :

c/o Hmgc Corporate Practice Ltd., Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

22.06.2010

 

 

Com. Reg. No.:

52483298

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

subject is engaged in the Jewellery and diamond trading, Commission agent Mobile phones and Electronic Products and other products as entrusted by customers

 

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 :

Relatively New Company

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Company name

 

SWIFT  TRADING  LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o Hmgc Corporate Practice Ltd.

Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

[Tel: 3749 9221;  Fax: 3747 5784]

 

Associated Companies:-  (Same address)

Irony (Hong Kong) Ltd., Hong Kong.

Nisha International Network Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

52483298

 

 

COMPANY FILE NUMBER

 

1471377

 

 

DATE OF INCORPORATION

 

 22nd June, 2010.

 

 

CAPITAL

 

Nominal Share Capital:   HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$100,000.00

 

SHAREHOLDER

(As per registry dated 22-06-2010)

 

Name

 

No. of shares

Ramjee Prasad PAUDEL

 

100,000

======

 

 

DIRECTOR    

(As per registry dated 22-06-2010)

 

Name

(Nationality)

 

Address

Ramjee Prasad PAUDEL

2/F., 1-3 Swatow Street, Wanchai, Hong Kong.

 

 

SECRETARY

(As per registry dated 22-06-2010)

 

Name

Address

Co. No.

Gurung & Shum Business Solutions Ltd.

Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

1348317

 

 

GENERAL

 

Swift Trading Ltd. was incorporated on 22nd June, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Himalayan Finance Ltd., name changed to the present style on 31st May, 2011.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong known as Hmgc Corporate Practice Ltd. [Hmgc] which is handling its correspondences and documents.

The subject’s operating address is unknown.  It is likely that the subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 100,000 ordinary share of HK$1.00 which are wholly owned by Mr. Ramjee Prasad Paudel who is residing in Hong Kong.  He is also the director of the subject.  Paudel is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  To our knowledge, Paudel is also the director of Irony (Hong Kong) Ltd. which is a Hong Kong-registered company.  Irony (Hong Kong) Ltd. is also located at the above-mentioned address.

The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it.  Paudel cannot be reached although he is residing in Hong Kong.  However, from indirect sources, we have learnt that the subject is engaged in the following business scope:-

·         Jewellery and diamond trading

·         Commission agent

·         Mobile phones and electronic products

·         Other products as entrusted by customers

Besides operating the subject, Mr. Ramjee Prasad Paudel is also operating another firm known as Nisha International Network Ltd. [Nisha] which is located at the same operating address.

Nisha and the subject are engaged in the same lines of business, more or less.

The history of the subject in Hong Kong is over a year and two 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 terms.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.47

UK Pound

1

Rs.74.96

Euro

1

Rs.65.79

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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