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Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CROWN KIT LTD. |
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Registered Office : |
c/o Hong Kong Secretarial Room 71, 2/F., |
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Country : |
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Date of Incorporation : |
18.04.2013 |
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Com. Reg. No.: |
61296763 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
SUBJECT IS A MOBILE PHONE TRADER |
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No. of Employees : |
No employees in NOTE: It is to be noted that
the company does not have its own operating office in |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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
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Source
: CIA |
CROWN KIT LTD.
Registered Office:-
c/o Hong Kong Secretarial Co.
Room 71, 2/F., Mirador Mansion, 58 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Allied Industries Shenzhen Group Ltd., China.
Allied Will Industrial Ltd., Hong Kong.
Solid Shipping China Ltd., Hong Kong.
61296763
1893521
18th April ,2013.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
SHAREHOLDER: (As per registry dated 18-04-2013)
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Name |
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No. of share |
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Company Kit Secretarial Services Ltd., Hong Kong. |
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1 = |
DIRECTOR: (As per registry dated 08-07-2013)
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Name (Nationality) |
Address |
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Hira Singh MUTREJA |
Saraswati Ke Pichhe, Niranjan Ward, Kareli, Narsinghpur, PIN 487221, Madhya Pradesh, India. |
SECRETARY: (As per registry dated 08-07-2013)
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Name |
Address |
Co. No. |
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Akin Professionals Ltd. |
20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong. |
1273165 |
The subject was incorporated on 18th April, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly its registered office was in a commercial service provider located at Unit A, 3/F., Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong known as Company Kit Secretarial Services Ltd. which had handled its correspondences and documents. The subject changed its registered address to the present one with effect from 8th July, 2013 as it has changed it commercial service provider.
Apart from these, neither material change nor amendment has been ever traced and noted.
Crown Kit Ltd. was incorporated in April 2013 as a private limited liability company.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 71, 2/F., Mirador Mansion, 58 Nathan Road, Tsimshatsui, Kowloon, Hong Kong” which is handling its correspondences and documents.
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 Company Kit Secretarial Services Ltd. [Company Kit]. Company Kit is a secretarial company in Hong Kong.
The director of the subject Mr. Hira Singh Mutreja 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.
It is likely that Mutreja is in Shenzhen Special Economic Zone, China.
The subject is a mobile phone trader. However, its name has not been listed on the “List of Radio Dealer (Unrestricted) Licensees [as at 15th December, 2013]” of Hong Kong.
The subject is sourcing mobile phones from the manufacturers in Shenzhen Special Economic Zone, China and exporting to India, the other Asian countries, etc. Business is still under development.
We can reach nobody at your given mobile phone number 86-13417312731 as this line is no longer in service.
The subject has been banking with Hang Seng Bank Ltd., Hong Kong.
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.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.00 |
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1 |
Rs.102.17 |
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Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.