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Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADJUNCT TRADING
HK LTD. |
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|
|
|
Registered Office : |
Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun Tong,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.06.2011 |
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|
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Com. Reg. No.: |
58808264 |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
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 : |
No operating office in Hong Kong |
|
Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 re-exports, is about four times GDP. 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, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. 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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. 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 exports 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 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
|
Source : CIA |
ADJUNCT
TRADING HK LTD.
Registered
Office:-
c/o Kaizen
Secretaries Ltd.
Room 2103, 21/F.,
Futura Plaza, 111 How Ming Street, Kwun Tong, Kowloon, Hong Kong. [Tel:
2341 1444 Fax: 2341 1414]
58808264
1645812
28th July, 2011.
Nominal Share
Capital: US$100.00 (Divided into 100 shares of
US$1.00 each)
Issued Share
Capital: US$100.00
(As per registry dated 28-07-2012)
|
Name |
|
No.
of shares |
|
Duke Everest Holding Co. Ltd. Trust Co. Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of
the Marshall Islands MH 96960 Marshall, Islands. |
|
100 === |
(As per registry dated 28-07-2012)
|
Name (Nationality) |
Address |
|
NEAL Jayne Faber |
150 Carondelet Plz Unit 403, Clayton, Mo
63105, US. |
|
Duke Everest
Holding Co. Ltd. |
Trust Company Complex, Ajeltake Road,
Ajeltake Island, Majuro, MH 96960, Republic of the Marshall Islands. |
(As per registry dated 28-07-2012)
|
Name |
Address |
Co.
No. |
|
Kaizen Secretaries Ltd. |
Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun Tong,
Kowloon, Hong Kong. |
0640440 |
Adjunct
Trading HK Ltd. was incorporated on 28th July, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
The
subject does not have its own operating office.
Its registered office is in a secretarial firm located at Room 2103,
21/F., Futura Plaza, 111 How Ming Street, Kwun Tong, Kowloon, Hong Kong known
as Kaizen Secretaries Ltd. which is handling its correspondences and
documents. This firm is also the
subject’s corporate secretary.
The
subject has no employees in Hong Kong.
According
to the Companies Registry of Hong Kong, the subject had issued 100 ordinary
share of US$1.00 each which were wholly owned by Jayne Faber Neal who was a
foreigner residing in the United States.
On
5th August, 2011, Neal transferred all his shares to Duke Everest Holding Co.
Ltd. [DEHCL] which is now the holding company of the subject. DEHCL is registered in the Republic of
Marshall Islands.
The
directors of the subject are DEHCL and Neal.
Neal’s registered address is located at 150 Carondelet Plz., Unit 403,
Clayton, MO 63105, the United States. He
is a US passport holder and does not have the right to reside in Hong Kong
permanently.
The
subject’s lines of business are unknown since the secretarial firm knows
nothing about it. Neal cannot be reached
as he is in the United States.
The
subject seems to be a shelf company in Hong Kong.
It
is likely that the subject has got an associated company in the United States
which is also operated by Neal.
It
is also likely that the US 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 US 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 is over just a year.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.