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Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
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Name : |
GREAT WELL ASIA PACIFIC LTD. |
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Registered Office : |
C/o Buttar.HK Ltd. Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.04.2013 |
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Com. Reg. No.: |
61199696 |
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Legal Form : |
Private Limited Company. |
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LINE OF BUSINESS : |
TRADER OF ALL KINDS OF MOBILE PHONES, BATTERIES,
ACCESSORIES |
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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 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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 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
GREAT WELL ASIA
PACIFIC LTD.
ADDRESS: c/o Buttar.HK Ltd.
Unit G, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 852-2312 0148
FAX: 852-2375 6513
Managing Director: Ms. Zeng
Nufeng
Incorporated on: 2nd
April, 2013.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Mobile Phone Trader.
Employees:
Nil.
Main Dealing Banker: Bank of China, Shenzhen Futian Branch, China.
Banking Relation: Satisfactory.
Registered Office:-
c/o Buttar.HK Ltd.
Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong.
Associated Company:-
Shenzhen Great Well Asia Pacific Ltd.
Futian District, Shenzhen Special Economic Zone, China.
61199696
1883832
Managing Director: Ms. Zeng
Nufeng
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 02-05-2013)
|
Name |
|
No. of shares |
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GNL13 Ltd., Hong Kong. |
|
1 |
|
ZENG Nufeng |
|
9,999 |
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|
|
–––––– |
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Total: |
10,000 ===== |
(As per registry dated 02-05-2013)
|
Name (Nationality) |
Address |
|
ZENG Nufeng |
Room 2010, Yuntianhuating Building, No. 14 Yanda Da Road, Huizhou,
Guangdong, China. |
(As per registry dated 02-05-2013)
|
Name |
Address |
Co. No. |
|
Buttar.HK Ltd. |
1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong. |
0975326 |
The subject was incorporated on 2nd April, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at 14/F., Chun Wo
Commercial Centre, 25 Wing Wo Street, Central, Hong Kong where was the
operating address of a secretarial firm known as GNL13 Ltd. The subject changed its registered address to
the present one with effect from 2nd May, 2013 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: Mobile
Phone Trader.
Lines: All
kinds of mobile phones, batteries, accessories, etc.
Employees: Nil.
5. (China)
Commodities Imported: China, etc.
Markets: China,
India, Pakistan, South-east Asia, etc.
Terms/Sales:
As per contracted.
Terms/Buying: CAD
or as per contracted.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bank of
China, Shenzhen Futian Branch, China.
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Great Well Asia
Pacific Ltd. is wholly owned by Ms. Zeng Nufeng who is a China
businesswoman. She is a China passport
holder and does not have the right to reside in Hong Kong permanently. She is also the only director of the
subject. Currently, she is residing in
Huizhou City, Guangdong Province, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Unit G, 1/F., Mau Lam Commercial Building, 16-18 Mau
Lam Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is
handling its correspondences and documents.
Buttar.HK Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
We can reach Ms. Zeng Nufeng at her China mobile phone number 86‑13728661035
which is provided by your party. This
time Ms. Zeng is cooperative.
According to Zeng, the subject is a mobile phone trader. Besides operating the subject nominally in
Hong Kong, she is also operating a China firm known as Shenzhen Great Well Asia
Pacific Ltd. [GWAP] in Futian District, Shenzhen Special Economic Zone, China.
The China firm has five employees.
Besides trading in mobile phone, the subject also trades in batteries,
outer shells of mobile phones and the other accessories. Most of the commodities are sourced from the
suppliers in Shenzhen Special Economic Zone, China. The subject’s mobile phones are marketed in
China, exported to India, Pakistan, South-east Asia, etc. Business, chiefly handled by Ms. Zeng Nufeng
herself, is still under development.
The subject has been banking with Bank of China, Futian Branch.
The history of the subject in Hong Kong is just over four months.
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 for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.66 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.87.74 |
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 |
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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 |
|
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 |
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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 |
|
<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.