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Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ALLIED
(HK) TRADING LTD. |
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Registered Office : |
Room 10H, 10/F., Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.12.2011 |
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Com. Reg. No.: |
59233000 |
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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 |
Important note:
The subject’s lines of business is unknown since the director of the subject cannot be reached although he is in Hong Kong. No phone number is available from all our sources.
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New company |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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.
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Source : CIA |
ALLIED (HK) TRADING LTD.
Registered Office:-
Room 10H, 10/F., Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong.
59233000
1687998
7th December, 2011.
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 19-12-2011)
|
Name |
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No. of shares |
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GNL11 Ltd., Hong Kong. |
|
1 |
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Mukesh JAIN |
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9,999 |
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|
––––– |
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Total: |
10,000 ===== |
(As per registry
dated 19-12-2011)
|
Name (Nationality) |
Address |
|
Mukesh JAIN |
Room 10H, 10/F., Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong. |
(As per registry
dated 19-12-2011)
|
Name |
Address |
Co.
No. |
|
Regent Secretarial & Tax Consultants Ltd. |
Unit 1601, 16/F., 113 Argyle Street, Mongkok, Kowloon, Hong Kong. |
0610447 |
Allied (HK) Trading Ltd. was incorporated on 7th December, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.
Having issued 10,000 ordinary shares of HK$1.00 each, the subject is wholly owned by Mr. Mukesh Jain who is an Indian. He is also the only director of the subject. Jain is an India passport holder and does not have the right to reside in Hong Kong permanently.
The subject does not have its own operating office. Its registered address is in a private building located at Room 10H, 10/F., Universal Mansion, 52 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong. This seems to be the residence of Jain when he is in Hong Kong.
The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.
At the very beginning the subject’s registered address was located at Unit 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong where is the operating office of KNG Consultants. This firm is a commercial service provider. The subject moved to Room 1001-4A, 10/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong where was the operating address of a secretarial firm known as Gateway Registrations Ltd. [Gateway]. Being a Hong Kong-registered firm, Gateway has had an associated company GNL11 Ltd. which is a nominee company located at the same address. GNL11 Ltd. at present is holding a single share of the subject. In December 2011, the subject moved to the present address.
No information of the subject can be obtained from our secondary sources.
The subject is just a one-man company. Business is chiefly handled by Jain himself. History in Hong Kong is just about nine months.
On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
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UK Pound |
1 |
Rs.89.02 |
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Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
---- |
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.