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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BLOSSOM OVERSEAS (HK) LTD. |
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Registered Office : |
c/o ATA Corporate Formation & Management Ltd. Unit 2508A, 25/F., Bank of America Tower, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
16.07.2009 |
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Com. Reg. No.: |
50898611 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
THE
SUBJECT IS A MOBILE PHONE AND ACCESSORY TRADER |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
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 : |
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
BLOSSOM OVERSEAS
(HK) LTD.
Registered
Office:-
c/o ATA Corporate Formation & Management Ltd.
Unit 2508A, 25/F., Bank of America Tower, Central, Hong Kong.
Nominal Head
Office:-
c/o ATA Corporate Formation & Management Ltd.
Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road, Kowloon, Hong
Kong.
[Tel: 2783 7818, 3426 3738; Fax:
2783 7918]
50898611
1353526
16th July, 2009.
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 16-07-2012)
|
Name |
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No. of shares |
|
Anish MEHTA |
|
100 === |
(As per registry dated 16-07-2012)
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Name (Nationality) |
Address |
|
Anish MEHTA |
B, 6/F., Building 5, Weipeng Garden, Zhenzhong Road, Futian District,
Shenzhen, China. |
(As per registry dated 16-07-2012)
|
Name |
Address |
Co. No. |
|
ATA Corporate Formation & Management Ltd. |
Room 1001, 10/F., Fourseas Building, |
0768611 |
Blossom Overseas (HK) Ltd. was incorporated on 16th July, 2009 as a
private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its nominal office is in a commercial service
firm located at “Room 1001, 10/F., Fourseas Building, 208-212 Nathan Road,
Kowloon, Hong Kong” known as “ATA Corporate Formation & Management Ltd.”
[ATA] which is handling its correspondences and documents. However, its registered address is located at
“Unit 2508A, 25/F., Bank of America Tower, Central, Hong Kong” where is also an
address of ATA. ATA is also the
corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
100 ordinary shares of HK$1.00 each of which are wholly-owned by Mr. Anish
Mehta who is an Indian. He is an India
passport holder and does not have the right to reside in Hong Kong permanently. Currently, residing in Shenzhen Special
Economic Zone, China, Mehta is also the only director of the subject.
The subject is a mobile phone and accessory trader. It 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
RU00134281‑RU.
The subject exports mobile phones and accessories which are sourced from
China. Prime markets are Indian, the
other Asian countries, the Middle East, etc.
Currently, Mehta is doing business in China under the name of the
subject. However, the subject’s business
in Hong Kong is not active. History in
Hong Kong is over three 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.