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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
C/o Team Victoria Ltd. Room D, 3/F., |
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Country : |
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Date of Incorporation : |
07.07.2009 |
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Com. Reg. No.: |
50903844 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF LUGGAGE,
MOBILE PHONES AND ACCESSORIES |
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No. of Employees : |
No Employee in (It is to be noted
that the company does not have its own operating office in |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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.
Source
: CIA
CHINA DYNASTY
TRADING LTD.
ADDRESS: c/o Team Victoria Ltd.
Room D, 3/F., Thomson
Commercial Building, 8-10 Thomson Road, Wanchai, Hong Kong.
PHONE: 852-2528 6776
Managing Director: Dipak Goyal
Incorporated on: 7th
July, 2009.
Organization: Private
Limited Company.
Capital: Nominal: HK$7,800,000.00
Issued: HK$7,800,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: Bank of Baroda, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Office:-
c/o Team Victoria Ltd.
Room D, 3/F., Thomson Commercial Building, 8-10 Thomson Road, Wanchai,
Hong Kong.
China Office:-
Room 1511, Glittery City, Shennanzhong Road, Futian District, 518033
Shenzhen Special Economic Zone, China.
[Tel: 86-755-8389 1010
Fax: 86-755-8389 3811
E-mail: infocdtl@gmail.com
50903844
1351164
Managing Director: Dipak Goyal
Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares of
HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
(As per registry dated 07-07-2012)
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Name |
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No. of shares |
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Ram Kishan AGARWAL |
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6,240,000 |
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Dipak GOYAL |
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1,560,000 |
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–––––––– |
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Total: |
7,800,000 ======= |
(As per registry dated 07-07-2012)
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Name (Nationality) |
Address |
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Dipak GOYAL |
16 Arihant Nagar, West Punjabi Bagh, New Delhi 110026, India. |
|
Ram Kishan AGARWAL |
429 Marwari Mohalla, Near UcoBank, Begusarai, India. |
(As per registry dated 07-07-2012)
|
Name |
Address |
Co. No. |
|
Team Victoria Ltd. |
Room D, 3/F., Thomson Commercial Building, 8-10 Thomson Road, Wanchai,
Hong Kong. |
0712532 |
The subject was incorporated on 7th July, 2009 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of luggage, mobile phones and accessories
Brand Names:
MARK & POLO, FLY LITE.
Employees: Nil.
Commodities Imported: China.
Markets: India,
Nepal, other Asian countries, Africa, etc.
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$7,800,000.00 (Divided into 7,800,000 shares
of HK$1.00 each)
Issued Share Capital: HK$7,800,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Banker:
Bank of
Baroda, Hong Kong Branch.
Standing:
Small.
Having issued 7,800,000 ordinary shares of HK$1.00 each, China Dynasty
Trading Ltd. is jointly owned by Mr. Ram Kishan Agarwal, holding 80% interests;
and Mr. Dipak Goyal, holding 20%. Both
of whom are Indian. The former is an
India passport holder and does not have the right to reside in Hong Kong
permanently. The latter is a Hong Kong
ID Card holder. He is also the managing
director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room D, 3/F., Thomson Commercial Building, 8-10
Thomson Road, Wanchai, Hong Kong” known as “Team Victoria Ltd.” which is
handling its correspondences and documents.
This firm is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It has had an office in Shenzhen Special
Economic Zone, China bearing the same name [CDTL]. The subject and CDTL are engaged in the same
lines of business.
Most of the time, Dipak Goyal is in Shenzhen SEZ handling the business
CDTL. He can be reached at his mobile
phone number 852-6314 6903 when he is in Hong Kong.
CDTL is professional in all kinds of luggage in China. Its main markets include the Middle and
Eastern African countries. In recent
years, it also has been trading in mobile phones and accessories. Mobile phones are exported to India.
The subject has registered with the Office of the Communications
Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of
China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of
RU00152176-RU.
CDTL has a strong business team with professional designers and strict
Quality Control [QC], with manufacturing bases in different cities of Zhejiang
and Guangdong Province.
CDTL has its own brands MARK
& POLO and FLY LITE. It has built up its
sales network in India, Nepal and the other South Asian countries, Africa, etc.
The products in these brands are well received by foreign customers and have
developed a rather good reputation.
It is also likely that the China 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
China firm also exports commodities to foreign markets under the name of the
subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over two years.
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
for the time being.
|
Date |
Particulars |
Amount |
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24-05-2010 |
Instrument: Memorandum Property: Distinctive 91220300001186 04-08-2009 US$100,000.00 05-05-2011 Mortgagee: Bank of Baroda,
Hong Kong Branch. |
Loan or credit or other facilities |
|
05-12-2011 |
Instrument: Memorandum Property: Distinctive 91220300001181 05-05-2011 US$101,061.67 04-05-2012 91220300001186 09-05-2011 US$101,142.56 08-05-2012 91220300001229 08-07-2011 US$
50,586.44 07-07-2012 91220300001579 14-09-2011 US$
50,000.00 12-09-2012 91220300001583 27-09-2011 US$100,000.00 25-09-2012 91220300001588 10-10-2011 US$
10,000.00 09-10-2012 91220300001589 14-10-2011 US$
75,000.00 13-10-2012 91220300001605 23-11-2011 US$
15,000.00 12-11-2012 Mortgagee: Bank of Baroda,
Hong Kong Branch. |
Loan or credit or other facilities |
NOTE :
It is to be
noted that the company does not have its own operating office in Hong Kong. The
company uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong Kong.
Such companies are registered in Hong Kong just to tax benefit purpose and due
to the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.35 |
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|
1 |
Rs.92.11 |
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Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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NB |
New Business |
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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.