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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
S T ENTERPRISES LTD. |
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Registered Office : |
Room C3, 4/F., Summit Building. 30 Man Yue Street, 21-23 Tai Wan Road, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.08.2012 |
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Com. Reg. No.: |
60196257 |
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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
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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 Business |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% 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,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. 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
S T
ENTERPRISES LTD.
ADDRESS:
Registered Office:-
Room C3, 4/F., Summit Building. 30 Man Yue Street, 21-23 Tai Wan Road,
Hunghom, Kowloon, Hong Kong.
Head Office:-
c/o Hong Kong Indian Secretarial Firm
Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui, Kowloon,
Hong Kong.
60196257
1783902
8th August, 2012.
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00each)
Issued Share Capital: HK$100,000.00
(As per registry dated 08-08-2012)
|
Name |
|
No. of shares |
|
Suresh MOHAN |
|
100,000 ====== |
(As per registry dated 08-08-2012)
|
Name (Nationality) |
Address |
|
Suresh MOHAN |
No. 31, Mahalakshmi, Nagar, 1 Street, Rakiapalayam Pirivu, Jai Nagar,
Nalur, Tirupur, District, India. |
(As per registry dated 08-08-2012)
|
Name |
Address |
Co. No. |
|
CBest Solutions Ltd. |
Suite 705, 7/F., Empress Plaza, 17-19 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong. |
1295959 |
The subject was incorporated on 8th August, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
At the very beginning, the subject’s registered address was located at
Room A2A, 4/F., Winner Building, 36 Man Yue Street, Hunghom, Kowloon,
Hong Kong, moved to Room C3, 4/F.,0 Summit Building, 30 Man Yue Street,
Kowloon, Hong Kong in early April.
Apart from these, neither material change nor amendment has been ever
traced and noted.
S T Enterprises Ltd. was incorporated in August, 2012 as a private
limited liability company.
The subject does not have its own operating office. Its office is in a commercial service firm
located at “Flat C, 2/F., Peninsula Apartments, 16 Mody Road, Tsimshatsui,
Kowloon, Hong Kong”. This secretarial
firm is operated by an Indian and situated at a residential building. The residential building is not trespassed by
outsiders.
Its registered address is Room C3, 4/F., Summit Building, 30 Man Yue
Street, Kowloon, Hong Kong where was a business centre. The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
100,000 ordinary shares of HK$1.00 each which are owned by Mr. Suresh Mohan who
is an Indian. He is an India passport
holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business.
The shareholder of the subject cannot be reached as he is in India.
No information of the subject can be obtained from our secondary
sources.
It is likely that the subject has got an associated company in India
which is also operated by Mohan.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over eight
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
<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.