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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MSAW
INTERCONTINENTAL LTD. |
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Registered Office : |
c/o Company Registration & Business Services Ltd., Room 1203, 12/F., Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.07.2012 |
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Com. Reg. No.: |
60140882 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Exporter of all kinds of leather, etc. |
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No. of Employees : |
Not
available |
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 : |
New Business in Hong Kong |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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'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 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the 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 28 million in 2011, 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 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% 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. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. 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 |
MSAW INTERCONTINENTAL LTD.
c/o Company Registration & Business Services Ltd.
Room 1203, 12/F., Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: Not available.
Managing Director: Mr. Feroz Alam Khan
Incorporated on: 25th July, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Leather product trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Company Registration & Business Services Ltd.
Room 1203, 12/F., Tower 3, China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
Associated
Companies:-
Celantro Hospitality Pvt. Ltd., India.
Mak International
118/2, Vepery High
Road, Periamet, Chennai - 600 003
Tamil Nadu, India.
[Tel.: 44-25384802, 52041056,
55870474
Fax: 44-25380473]
60140882
1778393
Managing Director: Mr. Feroz Alam Khan
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
(As per registry
dated 25-07-2012)
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Name |
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No.
of shares |
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Feroz ALAM KHAN |
|
100 === |
(As per registry
dated 25-07-2012)
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Name (Nationality) |
Address |
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Feroz ALAM
KHAN |
No. 7, Sriji Manor 72/73,
Maddox Street Choolai, Chennai 600 112 Tamilnadu, India. |
(As per registry
dated 25-07-2012)
|
Name |
Address |
Co.
No. |
|
Company Registration & Business Services Ltd. |
Room 1203, 12/F., Tower 3, China Hong Kong City, 33 Canton
Road, Tsimshatsui, Kowloon, Hong Kong. |
1081484 |
The subject was incorporated on 25th July, 2012 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: Manufacturer and Exporter.
Lines: All kinds of leather, etc.
Employees: Nil.
Commodities Imported: India.
Markets: India, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Too early to comment
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 100 ordinary shares of HK$1.00 each, Msaw Intercontinental Ltd. is wholly owned by Mr. Feroz Alam Khan 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 does not have its own operating office. Its registered office is in a commercial service firm located at “Room 1203, 12/F., Tower 2, China Hong Kong City, 33 Canton Road, Tsimshatsui, Kowloon, Hong Kong” known as “Company Registration & Business Services 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.
Feroz Alam Khan is operating another firm in Chennai, India known as Mak International [MI].
This firm is
trading in the following products:-
· Finished Leather;
· Goat Leather;
· Sheep Leather For Leather Shoes; &
· Wet Blue Leather.
MI is a manufacturer and exporter of finished leather, wet blue leather, goat leather, sheep leather for leather shoes, leather sandals, handbags and garments. Its business in India is active.
The subject is engaged in the same lines of business as MI.
Feroz Alam Khan is also a director of Celantro Hospitality Pvt. Ltd. which is in New Delhi, India. This firm is operated by the Khan family. It is also a leather product trader.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over seven months.
On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.