MIRA INFORM REPORT

 

 

Report Date :

05.06.2013

 

IDENTIFICATION DETAILS

 

Name :

ATLANTIC RESOURCES HK LIMITED 

 

 

Registered Office :

Room A & B, 2/F, Lee Kee Commercial Building, 221-227 Queen's Road Central, Hong Kong Island

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

15.11. 2012 

 

 

Com. Reg. No.:

1826302 

 

 

Legal Form :

Private Limited 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 – 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

 

ALL FIGURES QUOTED IN LOCAL CURRENCY UNLESS OTHERWISE STATED

 

 

OVERVIEW

 

Subject's Registered Name (in English ~ Chinese):

Atlantic Resources HK Limited 

Companies Registry No. (CR No.):

1826302 

Subject's Business Name (in English ~ Chinese):

N/A 

 

Registered Address:

Room A & B, 2/F, Lee Kee Commercial Building, 221-227 Queen's Road Central, Hong Kong Island, Hong Kong. 

Email:

vccindia@gmail.com 

 

Previous 1 Address:

Flat C, 61/F, Tower 8, The Palazzo, 28 Lok King Street, Sha Tin, New Territories, Hong Kong. 

Date Of Change: 

22 Feb 2013

 

Operating/Business Address:

c/o Room A & B, 2/F, Lee Kee Commercial Building, 221-227 Queen's Road Central, Hong Kong Island, Hong Kong. 

Telephone:

c/o 25444068 

Fax:

c/o 25445568 

 

NACE - Code & Industry:

N/A 

Certification:

N/A 

Business/Industry Trend:

N/A 

Public Filings Compliance:

N/A 

 

Public Filings Compliance - looks into a number of compliance requirements such as whether Subject is promptly filing its annual return (e.g. within 42 days after the anniversary of the date of incorporation (for private companies having a share capital); whether Subject's individual director is reporting a residential address and/or whether Subject is reporting its status under the Mortgage and Charges section for Total Amount Outstanding.... etc.

 

SUMMARY

 

Despite repeated attempts of investigations and enquiries we have been unable to contact Subject and its shareholders and directors.

Some sections in this report are resulted as -N/A- or -Not learned- due to the unavailability of related information and local operation.

In view of the above, we now cease our investigation and advise we are unable to facilitate appraisal or score for Subject due to its status.

Subject is an Indian owned company believed merely maintaining a registered and corresponding office in Hong Kong. Further attention should be given to its tiny paid up capital and recently incorporated.

Total Credit Appraisal (TCA): NR:
-With acquired and/or offered information being insufficient or inappropriate to facilitate rating (e.g. companies that are dormant, applying or planning to cease business or not having a place of business operation locally). The given rating will be NR.-
-In business operation for less than one year. The given rating will be NR.- 

 

 

CORPORATE STRUCTURE

 

Co. File Examined

3 Jun 2013 

Companies Registry No. (CR No.)

1826302 

Business Registration No. (BR No.)

60622074 

Legal Status 

Private Limited Company 

Active Status 

Live 

Date of Incorporation / Registration 

15 Nov 2012 

 

Name Changed

N/A

 

Authorized Share Capital

HKD5,000,000 

No. of Shares Issued

2  

Issued Share Capital

HKD2  

Paid up Capital (excluding premium)

HKD2 

Class of Share

Ordinary  

 

Last Annual Return Date

N/A 

Year(s) of "Annual Return of No Change" Filed

N/A 

Branches/Trading As

N/A 

Chief Executive

N/A

Company Secretary

Name

ID/CR No.

Passport No.

Issuing Country

Address

RJA Management Limited 

1044456 

N/A 

N/A 

Room A & B, 2/F, Lee Kee Commercial Building, 221-227 Queen's Road, Central, Hong Kong Island, Hong Kong.  


Shareholders/ Subscribers (as at 15 Nov 2012)

Shareholders/ Subscribers 

ID/CR No.

Passport No.

Issuing Country

Address 

No. of Shares 

Class of Share 

% Of Share Capital 

AGARWAL Vikas

N/A

J2621958

India 

4B, Mangalam, Rear Block, 33 Raja Santosh Road, Kolkata-700027, India.

1 

Ordinary

50.00

MUKHERJEE Bidhan Chandra

N/A

H3189383

India 

B247, Survey Park, Santoshpur, Kolkata-700075, India.

1 

Ordinary

50.00

 

 

 

 

Total: 

2 

 

 


Directors ~ (as at 15 Nov 2012)

Directors

ID/CR No.

Passport No.

Issuing Country

Address

AGARWAL Vikas 

N/A 

J2621958 

India 

4B, Mangalam, Rear Block, 33 Raja Santosh Road, Kolkata-700027, India.

MUKHERJEE Bidhan Chandra 

N/A 

H3189383 

India 

B247, Survey Park, Santoshpur, Kolkata-700075, India.

 

 

HISTORY SUMMARY 

 

Change of Ownership & Capital/ Share Allotment/Other Changes

N/A 

Appointment and/or Resignation of Directors or Secretary

As of 22 Feb 2012, KWAN Chun Fung resigned as secretary and RJA Management Limited was appointed as corporate secretary. 

Admission or Retirement of Sole Proprietor/Partner

N/A 

Parent

N/A 

 

 

RELATED NEWS /FINDINGS

Due to the nature of the information learned, we are responding in narrative format.

There is no telephone listing found on Subject, its shareholders and directors. In addition, it is not found in the major reference books and trade and web directories.

We contacted Subject's corporate secretary RJA Management Limited (Tel: 25444068 and Fax: 25445568) and interviewed a female staff there, only confirmed that Subject is their client maintaining its registered and corresponding office (same as given) there however declined to release any further information on the grounds of professional ethics. Message was left for Subject, its shareholders and directors but no reply was received during the report compilation.

We called the given number 26707851 which was repeatedly unanswered.

Message was sent by given fax 26395376 and given email atlantichkg@gmail.com for Subject but no reply was received during the report compilation. 

 

MANAGEMENT BACKGROUND

 

Name

AGARWAL Vikas 

Position (Title)

Director 

Nationality

India 

Email

vccindia@gmail.com 

Experience

N/A 

Profile / Responsibility

Appears stationing in India and could not be reached during the report compilation. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Atlantic Resources HK Limited 

1826302 

Director

15 Nov 2012 

Atlantic Resources HK Limited 

1826302 

Shareholder/Investor

15 Nov 2012 

Court Action

As Defendant


None found in our database

 

Name

MUKHERJEE Bidhan Chandra 

Position (Title)

Director 

Nationality

India 

Email

vccindia@gmail.com 

Experience

N/A 

Profile / Responsibility

Appears stationing in India and could not be reached during the report compilation. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Atlantic Resources HK Limited 

1826302 

Director 

15 Nov 2012 

Atlantic Resources HK Limited 

1826302 

Shareholder/Investor

15 Nov 2012 

Court Action

As Defendant


None found in our database

 

Profile/Responsibility and Business Capacity indicated are based on -on-file, sources, and enquiries and investigations recently conducted but do not necessarily represent the full or most updated. For example, the status indicated under Business Capacity is based on the date shown (if available) as recorded, which might have been changed at the time the report is compiled.

 

FINANCIAL

Current Interviews & Investigations

Its shareholders and directors were unreachable for interview during the report compilation.

Sources and records reveal no related information.

 

Private companies in Hong Kong (include private limited, sole proprietorship and partnership) are not required to file or disclose their financial information for public inspection.

 

GROUP PROFILE & FINANCIALS

N/A

 

 

BANKING

 

No banking information was learned.

 

TRADE RECORD N/A

 

TOTAL DEBT SCANNER (TDS)

TDS reveals if subject has been listed as debtor in our debt database in the past 5 years and that is subject to the "Code of Practice on Consumer Credit Data" issued by Office of the Privacy Commissioner for Personal Data, Hong Kong. Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed. It should be noted that the collection record contained in the report might have been paid, terminated, vacated, settled or released prior to the date of report compiled.

Search Result:


Subject

None found in our database


Related Members

None found in our database


Related Companies

None found in our database

 

PUBLIC FILINGS

Mortgages and Charges (M&C)

M&C records, if any, are extracted from the Companies Registry, Hong Kong ("CRHK"). Details of "Creating Instrument" and "Description of Property Mortgaged or Charged" are available subject to the prevailing fees as per document charged by CRHK. Please indicate/select "Full Mortgage/Charge" when ordering our services/reports (e.g.: Total Limited Company Search or Total Company Credit Report). Request for Full mortgage/Charge made 7 days after the report delivery will be treated as a new order and is subject to our "Official Document Retrieval (ODR)" service charge + related government fees. M&C brief particulars may not be available from CRHK for mortgage/charge registered before 28 Feb 2005.

Records filed in:

N/A 

Total Amount outstanding as of the date of this Return on all mortgages and charges which are required to be registered with the Registrar of Companies pursuant to sections 80 and 82 of the Companies Ordinance: Not Applicable

 

TOTAL WRIT SCANNER (TWS)

TWS reveals if subject has been listed as Defendant/Debtor/Respondent, Plaintiff/Creditor/Applicant, in liquidation or bankruptcy within our court database in the past 7 years and that is subject to the "Code of Practice on Consumer Credit Data" issued by Office of the Privacy Commissioner for Personal Data, Hong Kong. It should be noted that the court record contained in a report might have been paid, terminated, vacated, settled or released prior to the date of a report was compiled. Civil claims are filed as the result of disputes of a commercial or other nature. The Defendant/Debtor/Respondent is not liable nor the Plaintiff/Creditor/Applicant eligible to the claim until judgement is obtained from the relevant court, which is not open for public inspection at present. Only the latest 50 records will be shown when total records exceed 50.

Search Result:

Subject

As Defendant

None found in our database

As Plaintiff

None found in our database

Comments

N/A

Related Members

As Defendant

None found in our database

Comments

N/A

Related Companies

As Defendant

None found in our database

Comments

N/A

 

OPERATION & ACTIVITIES

Business Lines

Principal Business Line 

Not learned 

Second Business Line 

N/A 

 

Product/Production

China Factory 

N/A 

Size of China Factory (sq. ft.) 

N/A 

No. of Staff / Workers in China (or Overseas) 

N/A 

Product / Production Remarks 

N/A 

 

Supplies/Purchases

Hong Kong and China 

Types of Supplies 

N/A 

Buying Terms 

N/A 

 

Overseas 

Import Countries 

N/A 

Types of Supplies 

N/A 

Buying Terms 

N/A 

Remarks 

Subject is believed an inactive seeker of local trade credit. 

 

Markets

Major Market 

N/A 

Minor Market 

N/A 

Selling Products / Services 

N/A 

Selling Terms 

N/A 

Remarks 

N/A 

 

Brands

Own Brands 

N/A 

OEM (Clients) Brands 

N/A 

Remarks 

N/A 

 

Premises and Staff

Hong Kong Office 

Area (sq. ft.) 

N/A 

Type 

Commercial 

Staff Range 

N/A 

China Office 

Staff Range 

N/A 

Premises Remarks 

Renting its registered and corresponding office at the captioned address, which is the office of its corporate secretary, at a 32-year-old commercial building. 

Total No. of Staff in Hong Kong (China) 

N/A 

 

TOTAL PROPERTY OWNERSHIP SEARCH (TPOS)

TPOS reveals if subject has been involved in property transaction record in our database since 1996. TPOS does not represent the full record or history of all transactions relating to the registered charges, mortgages or ownerships. Some of the charges, mortgages or ownerships might have been released and/or changed. There could be latest mortgages, charges, ownerships or transactions not reflected. TPOS also checks on Subject's shareholder, director, sole proprietor, partner (collectively listed under "Related Members" in this section) and/or related company while related records will be revealed when appropriate.

Search Result:

Subject

No Trace


Related Members

No Trace


Related Companies

No Trace

 

Abbreviations:
S&P = Sales and Purchase
GBF = General Banking Facilities
N/A = Not Available/Applicable

 

RELATED COMPANIES

Related companies mean Parent Company, Subsidiary Company, Director's Other Business/Capacity, etc.

N/A



ECONOMIC AND TRADE INFORMATION ON HONG KONG

Major Economic Indicators

 

2009

2010

2011

Forecast/Latest

Population, Mid-year (million)

6.97

7.02

7.07

7.14a

Gross Domestic Product (US$billion)

208.0

223.3

243.2

250.5-252.9b

GDP Per Capita (US$)

29,800

31,800

34,400

35,100-35,400b

Real GDP Growth (%)

-2.6

+7.1

+5.0

+1-2b

Inflation (% Change in Composite CPI)

+0.5

+2.4

+5.3

+4.7c

Unemployment Rate, seasonally adjusted (%)

5.4

4.4

3.4

3.2d

Retail Sales Growth (%)

+0.6

+18.3

+24.9

+13.1c

Visitor Arrival Growth (%)

+0.3

+21.8

+16.4

+15.5c

a 2012; b government forecast for 2012; c year-on-year change in January-June 2012; d April-June 2012.

Merchandise Trade Performance

 

2010

2011

January-June 2012

US$billion

Growth %

US$billion

Growth %

US$billion

Growth %

Total Exports

388.6

+22.8

427.9

+10.1

207.6

+0.3

      Domestic Exports

8.9

+20.4

8.4

-5.5

3.6

-19.4

      Re-exports

379.7

+22.8

419.8

+10.5

204.0

+0.7

Imports

431.4

+25.0

482.6

+11.9

236.0

+1.4

Total Trade

820.0

+23.9

910.5

+11.0

443.6

+0.9

Trade Balance

-42.8

N/A

-54.8

N/A

-28.4

N/A

Service Trade Performance

 

2010

2011

January-June 2012

US$billion

Growth %

US$billion

Growth %

US$billion

Growth %

Exports

105.7

+23.1

121.2

+14.6

60.2

+7.6

Imports

50.8

+16.3

55.8

+9.8

27.4

+3.7

Total Trade

156.5

+20.8

177.0

+13.1

87.6

+6.4

Trade Balance

54.9

N/A

64.9

N/A

32.8

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.64

UK Pound

1

Rs.86.68

Euro

1

Rs.73.97

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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