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Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
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Name : |
BLUE TOP CORPORATION LTD. |
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Registered Office : |
c/o Vast Energy Ltd. Flat 4, 7/F., Fashion Centre, 51-53 Wing Hong Street, Lai Chi Kok,
Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.10.2012 |
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Com. Reg. No.: |
60441410 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
TRADING
IN ALL KINDS OF PRECIOUS STONES I.E. COLOUR STONES IN EMERALD, RUBY, AND
SAPPHIRE (PINK SAPPHIRE, YELLOW SAPPHIRE, BLUE SAPPHIRE, GREEN GARNET
[TSAVORITE], PRINCESS CUT, MARQUISE, OVALS, ROUND AND FANCY SAPPHIRE) AND
ALSO SEMI-PRECIOUS STONES LIKE BLUE TOPAZ, AMETHYST, CITRINE, PERIDOT,
AQUAMARINE, GARNET. |
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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) |
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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.
|
Source
: CIA |
BLUE TOP
CORPORATION LTD.
Registered
Office:-
c/o Vast Energy Ltd.
Flat 4, 7/F., Fashion Centre, 51-53 Wing Hong Street, Lai Chi Kok,
Kowloon, Hong Kong.
60441410
1808309
5th October, 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 05-10-2012)
|
Name |
|
No. of share |
|
Company Kit Secretarial Services Ltd., Hong Kong. |
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1 = |
(As per registry dated 06-12-2012)
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Name (Nationality) |
Address |
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Shailash JAIN |
Flat 4, 7/F., Fashion Centre, 51-53 Wing Hong Street, Lai Chi Kok,
Kowloon, Hong Kong. |
(As per registry dated 06-12-2012)
|
Name |
Address |
Co. No. |
|
Vast Energy Ltd. |
Flat 4, 7/F., Fashion Centre, 51-53 Wing Hong Street, Lai Chi Kok,
Kowloon, Hong Kong. |
0236810 |
The subject was incorporated on 5th October, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong where was the
operating address of a secretarial firm known as Company Kit Secretarial
Services Ltd. The subject changed its
registered address to the present one in December 2012 as it has changed its
commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Blue Top Corporation Ltd. was incorporated in October, 2012. It does not have its own operating
office. Its registered office is in a
commercial service firm located at Flat 4, 7/F., Fashion Centre, 51-53 Wing
Hong Street, Lai Chi Kok, Kowloon, Hong Kong known as Vast Energy Ltd. which is
handling its correspondences and documents.
This firm is also the corporate secretary of the subject.
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. This is a Hong
Kong-registered firm and a founder member of the subject.
The only director of the subject Shailash Jain is an Indian. He is an India passport holder and does not
have the right to reside in Hong Kong permanently.
According to your given phone number 852-5363 1351 we can reach
Mr. Shyam Sunder who is the representative of the subject.
Shyam Sunder reported us that the subject is trading in all kinds of
precious stones. Commodities are chiefly
sourced from India. The subject is
trading in the following products: colour stones in emerald, ruby, and sapphire
(pink sapphire, yellow sapphire, blue sapphire, green garnet [Tsavorite],
princess cut, marquise, ovals, round and fancy sapphire) and also semi-precious
stones like blue topaz, amethyst, citrine, peridot, aquamarine, garnet.
Prime markets are Hong Kong, Japan, the other Asian countries.
It is likely that the subject has got an associated company in India
which is also operated by Jain.
The subject’s business, handled by Mr. Shyam Sunder, is still under
development in Hong Kong. History is
just over eight months.
Since the subject’s history is short in Hong Kong, consider it good for
business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
---- |
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.