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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
NEW LITE TRADING
(HK) LTD. |
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Registered Office : |
C/o CBS Pacific Ltd. Room A, 8/F., |
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Country : |
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Date of Incorporation : |
15.06.2009 |
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Com. Reg. No.: |
50790572 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
NOT AVAILABLE NOTE: THE SUBJECT’S LINES OF BUSINESS ARE UNKNOWN SINCE THE
SECRETARIAL FIRM ALSO DOES NOT KNOW ANY INFORMATION ABOUT ITS ACTIVITIES. NO INFORMATION OF THE SUBJECT CAN BE OBTAINED FROM OUR
SECONDARY SOURCES. |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
No Operating Office in Hong Kong |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
NEW LITE
TRADING (HK) LTD.
Address: c/o CBS Pacific
Ltd.
Room A,
8/F., Kam Chung Commercial Building,
19-21
Hennessy Road, Wanchai,
Hong Kong.
Note: Your enquiry given as “NEWLITE
TRADING (HK) LTD.”
The subject is not located at your “Flat B, 12/F.,
[Tel: 2528 2930; Fax: 8148 9228]
Holding Company:-
New Lite Trading Co., India.
50790572
1345717
15th June, 2009.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 15-06-2012)
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Name |
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No. of shares |
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New Lite Trading Co. 3/F., Unit 1, Vidyadhar Ji Ka Rasta, (Near Happy School), Johari
Bazar, Jaipur, India. |
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10,000 ===== |
(As per registry dated 28-08-2012)
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Name (Nationality) |
Address |
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Rishabh JAIN |
J 1160 Saraf Sadan Moti Dungari Road, Kharbujamandi Jaipur Raj, India. |
(As per registry dated 15-06-2012)
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Name |
Address |
Co. No. |
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CBS Pacific Ltd. |
Room A, 8/F., Kam Chung Commercial Building, 19‑21 Hennessy
Road, Wanchai, Hong Kong. |
0582043 |
New Lite Trading (HK) Ltd. was incorporated on 15th June, 2009 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 commercial
service firm located at Room A, 8/F., Kam Chung Commercial Building, 19-21
Hennessey Road, Wanchai, Hong Kong known as CBS Pacific Ltd. [CBS] which
is handling its correspondences and documents.
CBS is also the corporate secretary of the subject.
The subject is not located at your given address Flat B, 12/F., Star
Mansion, 3-4 Minden Road, Kowloon, Hong Kong where is in a residential
building. The subject may have a
representative in Hong Kong who may be residing at the above-mentioned
address. However, the residential
building is not trespassed by outsiders.
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories. No body can be reached in Hong Kong.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
10,000 ordinary shares of HK$1.00 each which are wholly-owned by New Lite Trading
Co. which is an India-based firm. The
only director of the subject Mr. Rishabh Jain is an Indian. He is an India passport holder and does not
have the right to reside in Hong Kong permanently. He is currently residing in Jaipur, India.
The subject’s lines of business are unknown since the secretarial firm
also does not know any information about its activities.
No information of the subject can be obtained from our secondary
sources.
To our knowledge, the real owner of the subject Mr. Manoj Kumar Jain is
also an Indian. He seems to be a diamond
trader.
The subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
The history of the subject in Hong Kong is over three years and four
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 L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.81 |
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1 |
Rs.86.52 |
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Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.