|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SMART SILVER LTD. |
|
|
|
|
Registered Office : |
c/o Buttar.HK Ltd. Unit S, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street,
Jordan, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
18.04.2013 |
|
|
|
|
Com. Reg. No.: |
61300699 |
|
|
|
|
Legal Form : |
Private Limited Liability
Company |
|
|
|
|
LINE OF BUSINESS : |
NOT
AVAILABLE [WE TRIED
TO CONFIRM / OBTAIN THE DETAILED ACTIVITY BUT THE SAME IS NOT AVAILABLE FROM
ANY SOURCES] |
|
|
|
|
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 – 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 |
|
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 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 |
SMART SILVER LTD.
Registered
Office:-
c/o Buttar.HK Ltd.
Unit S, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan,
Kowloon, Hong Kong.
61300699
1893912
18th April, 2013.
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 22-04-2013)
|
Name |
|
No. of shares |
|
GNL13 Ltd., Hong Kong. |
|
1 |
|
Rajit Shatilal JAIN |
|
9,999 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As per registry dated 22-04-2013)
|
Name (Nationality) |
Address |
|
Rajit Shantilal JAIN |
No-9 Rajanna Lane, Ganigar Pet, Bangalore, Pin 560002, Karnataka,
India. |
(As per registry dated 22-04-2013)
|
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 18th 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 22nd April, 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.
Having issued 10,000 ordinary shares of HK$1.00 each, Smart Silver Ltd.
is wholly owned by Mr. Rajit Shatilal Jain 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 was incorporated in April 2013.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit S, 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.
Your given phone number 852-2312 0148 belongs to Buttar.HK Ltd.
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 the R. S. Jain.
It is also likely that the India 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’s business in Hong Kong is not active. History in Hong Kong is just over three
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.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.