MIRA INFORM REPORT

 

 

Report Date :

16.01.2013

 

IDENTIFICATION DETAILS

 

Name :

UB  INTERNATIONAL  LTD.

 

 

Registered Office :

C/o Alto Profitto Secretarial Ltd.

Room 512, 5/F., Tower B, New Mandarin Plaza, 14 Science Museum Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

20.02.2012

 

 

Com. Reg. No.:

59428027

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

New Business

 

--

 

Status :

New Business

Payment Behaviour :

Unknown

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

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'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.

Source : CIA

Company name and address

 

UB  INTERNATIONAL  LTD.

 

ADDRESS:

 

Registered Office:-

c/o Alto Profitto Secretarial Ltd.

Room 512, 5/F., Tower B, New Mandarin Plaza, 14 Science Museum Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

59428027

 

 

COMPANY FILE NUMBER

 

1707393

 

 

DATE OF INCORPORATION 

 

20th February, 2012.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDER

(As per registry dated 20-02-2012)

 

Name

 

No. of shares

Bipin Laxmanbhai BHADIYADRA

 

10,000

=====

 

 

DIRECTOR    

(As per registry dated 20-02-2012)

 

Name

(Nationality)

 

Address

Bipin Laxmanbhai BHADIYADRA

33 Amardeep Society, Near Hari Nandan Society, Hirabaug, Varachha Road, Surat 395006, Gujarat, India.

 

 

SECRETARY

(As per registry dated 20-02-2012)

 

Name

Address

Co. No.

Alto Profitto Secretarial Ltd.

Room C, 16/F., Skyline Tower, 18 Tong Mi Road, Mongkok, Kowloon, Hong Kong.

0741913

 

 

HISTORY

 

The subject was incorporated on  as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject’s registered address was located at Room 515, 5/F., Tower A, New Mandarin Plaza, 14 Science Museum Road, Tsimshatsui, Kowloon, Hong Kong where was the operating address of a commercial service provider Alto Profitto Secretarial Ltd.  The subject moved to the present address with effect from 5th June, 2012 as the secretarial firm has moved to this new address since then.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, UB International Ltd. is wholly owned by Bipin Laxmanbhai Bhadiyadra 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.

Currently Bhadiyadra is residing in Surat, Gujarat, India.

The subject does not have its own operating office.  Its registered office is in a secretarial firm located at “Room 512, 5/F., Tower B, New “Alto Profitto Secretarial Ltd.”[APS] which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.  APS has had several offices in Hong Kong.  It is also an associated company of an accountant firm Michael Chan & Co. which is also located at the above-mentioned address.

The subject has no employee in Hong Kong.

The subject’s lines of business are unknown since the secretarial firm knows nothing about its business.

The director 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 Bhadiyadra.  The India firm seems to be a diamond trader.

The subject’s business in Hong Kong is not active.  History in Hong Kong is just over ten months.

On the whole, since the subject does not have its own operating office and has no employee in Hong Kong, consider it good for business engagements on L/C basis.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.54

UK Pound

1

Rs.87.69

Euro

1

Rs.72.85

 

 

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

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.