MIRA INFORM REPORT
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Report Date : |
19.06.2013 |
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Tel. No.: |
+852-23115523 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
No trace |
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Payment Behaviour : |
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Litigation : |
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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
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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.
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Source : CIA |
JAYSAY DIAM HK LTD.
Flat E, 13/F., Windsor Mansion, 29-31 Chatham Road, South, Tsim Sha Tsui, Kowloon, Hong Kong.
Given Phone Number: (852) 2311 5523
As per Companies Registry, there is no such name registered in their file. We found that there is a similar company registered under the name of “Jaysav Diam HK Ltd.” with details as follow:-
Name: Jaysav Diam HK Ltd.
Company File Number: 1801872
Date of Incorporation: 18th September, 2012
Company Status: Private
Active Status: Live
Registered Office: Unit *, */F., Chinaweal Centre, 414-424 Jaffe Road, Causeway Bay, Hong Kong.
However, the registered office of this company is not matched with your given address.
According to Business Registration Office, the name of the subject is also not found in the database.
Our on-site investigator revealed that your given address Flat E, 13/F., Windsor Mansion, 29-31 Chatham Road South, Tsim Sha Tsui, Kowloon, Hong Kong is a 19-storey private residential building (From G/F., M/F., 1/F. to 19/F.). Nobody can enter into the building without the valid resident card or password.
As per The Land Registry, the registered owners of this premise are SHARI, Sunil Gobind (1/2) and SHARI, Kevin (1/2) who bought this property on 26th October, 2001 at the price of HK$1.800,000.00. The property was mortgaged to Standard Chartered Bank on 10th December, 2002 which is still not yet released.
We have been trying to approach the company through your given phone number (852) 2311 5523. However, there was nobody answered during the office hours.
The name of the subject is not listed in any available telephone and commercial directories and also is unknown to other sources consulted.
No legal actions were traced against the subject during the course of this investigation.
In view of
the lack of information, we have no basis upon which to recommend credit
dealings.
Important Note:
Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.