|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BLUE
TONE INVESTMENT LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
31.08.2007 |
|
|
|
|
Com. Reg. No.: |
38503953 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of machinery and
equipment. |
|
|
|
|
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 |
|
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 |
BLUE
TONE INVESTMENT LTD.
c/o Prima
Secretaries Ltd.
Suite 605, 6/F.,
China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong.
PHONE: 2376 3611, 2916 8239
FAX: 2736 5115, 2869 8767
E-MAIL: info@bluetoneinvestmentltd.com
Managing
Director: Mr. Saraschandran Cherthedath
Ramachandran
Incorporated on: 31st August, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$25,000,000.00
Issued: HK$25,000,000.00
Business Category: Machine Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
BLUE
TONE INVESTMENT LTD.
Registered
Office:-
c/o Prima
Secretaries Ltd.
Suite 605, 6/F.,
China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong.
Associated
Company:-
Evertime Trading
Ltd., Hong Kong. (Same address)
38503953
1163602
Managing
Director: Mr. Saraschandran Cherthedath
Ramachandran
Contact
Person: Mr. Om Parkash Jain
Nominal Share
Capital: HK$25,000,000.00 (Divided into 25,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$25,000,000.00
(As per registry dated 31-08-2012)
|
Name |
|
No.
of shares |
|
Om Parkash Jain |
|
25,000,000 ======== |
(As per registry dated 31-08-2012)
|
Name (Nationality) |
Address |
|
Saraschandran
Cherthedath RAMACHANDRAN |
Box 66506 00800, Westlands Nairobi, Kenya. |
(As per registry dated 31-08-2012)
|
Name |
Address |
Co.
No. |
|
Prima
Secretaries Ltd. |
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
0569406 |
The
subject was incorporated on 31st August, 2007 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the subject’s registered address was located at c/o KMF & Co., Room A,
5/F., Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan, Hong
Kong, moved to the present address in December 2010 as it has changed its
commercial service provider since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer and Exporter.
Lines: All kinds of machinery and equipment.
Employees: Nil.
Commodities Imported: Europe, Japan, other Asian countries, etc.
Markets: Asian countries, Europe, North America, etc.
Terms/Sales: L/C, T/T, or as per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$25,000,000.00 (Divided into 25,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$25,000,000.00
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business is not active in Hong Kong.
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.
Having
issued 25 million ordinary shares of HK$1.00 each, Blue Tone Investment Ltd. is
wholly owned by Om Parkash Jain who is residing in India. The only director of the subject Saraschandran
Cherthedath Ramachandran is residing in Kenya.
He is a Kenya passport holder.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Suite
605, 6/F., China Insurance Group Building, 141 Des Voeux Road Central,
Hong Kong known as Prima Secretaries Ltd. [Prima] 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.
Formerly
the subject was located at the operating office of KMF & Co. which is Room
A, 5/F., Wing Cheong Commercial Building, 19-25 Jervois Street, Sheung Wan,
Hong Kong. Your given phone number 2545
2468 belongs to KMF & Co. This phone
number is no longer applicable now.
The
subject is a machinery trader. It is
engaged in sourcing various kinds of machinery and equipment and exporting to
worldwide countries.
The
subject is trading in the following machines:-
·
Hydraulic press machine;
·
Edge grinding/edge polishing machine;
·
Cutlery cleaning machine;
·
Beeding operation machine;
·
Frame bending machine;
·
Friction screw press machine;
·
Static punch press machine;
·
Coil polishing machine;
·
Cardboard manufacturing machine; &
·
Metal polishing machine.
The
subject has claimed having set up a network of clients throughout the
world. However, the subject’s business
in Hong Kong is not active. History in
Hong Kong is over five years.
The
subject’s head office seems to be in New Delhi, India.
The
subject has had an associated company Evertime Trading Ltd. [Evertime] located
at the operating address of Prima.
Evertime is also a machinery and equipment trader. The shareholder of Evertime is also
Om Parkash Jain.
Saraschandran
Cherthedath Ramachandran is also the director of Evertime.
Since
the subject does not have its own operating office and has no employees in Hong
Kong, on the whole, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.44 |
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.