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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CHARM ROUTE LTD. |
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Registered Office : |
c/o Sharpview
Consultants Ltd. 13/F., |
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Country : |
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Date of Incorporation : |
16.11.2012 |
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Com. Reg. No.: |
60625098 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in metal materials, metal products, iron & steel products. |
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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 – 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 |
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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 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 |
CHARM ROUTE LTD.
Registered
Office:-
c/o Sharpview
Consultants Ltd.
13/F., Shum Tower,
268 Des Voeux Road Central, Hong Kong.
60625098
1826603
16th November,
2012.
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
(As per registry dated 16-11-2013)
|
Name |
|
No.
of share |
|
LIU Leng Leng |
|
1 = |
(As per registry dated 16-11-2013)
|
Name (Nationality) |
Address |
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LAU Leng Leng |
13/F., Shum Tower, 268 Des Voeux Road
Central, Hong Kong. |
(As per registry dated 16-11-2013)
|
Name |
Address |
Co.
No. |
|
Sharpview
Consultants Ltd. |
13/F., Shum Tower, 268 Des Voeux Road Central, Hong Kong. |
0656377 |
Charm
Route Ltd. was incorporated on 16th November, 2012 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 “13/F.,
Shum Tower, 268 Des Voeux Road Central, Hong Kong” known as “Sharpview
Consultants Ltd.” which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
The
subject has no employees in Hong Kong.
According
to the Companies Registry of Hong Kong, the subject has issued just one
ordinary share of HK$1.00 which is owned by Mr. Liu Leng Leng who is a China
merchant. He is a China ID holder and
does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
Formerly
the subject’s single share was held by GNL 12 Ltd. which was a Hong Kong
nominee company. GNL 12 Ltd. transferred
its share to Liu Leng Leng on 27th December, 2012.
The
subject is trading in metal materials, metal products, iron & steel
products.
It
is likely that the subject has got an associated company in China which is also
operated by Liu Leng Leng. The China
company is also a metal trader.
Commodities are sourced from China and the other Asian countries. Prime markets are the United States and
Europe.
It
is also likely that the China firm deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong.
The
subject has had a customer in the United States known as ICD Metals LLC.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over a year.
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.62.10 |
|
|
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.42 |
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 |
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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 |
|
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.