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Report Date : |
08.11.2013 |
IDENTIFICATION DETAILS
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Name : |
QUALITAS PRIMUM LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.04.2012 |
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Com. Reg. No.: |
59696753 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is trading in the following products:- Essential Oils, Natural dyes, Spices & Dehydrated
Natural Products such as dehydrated vegetables, Instant & Standardized
dry Extracts, Incenses, Finished Products, Herbs and Chinese Medicines,
medicinal plants. |
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No. of Employees : |
No employees in
Hong Kong 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 : |
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
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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
QUALITAS PRIMUM
LTD.
Registered Office:-
c/o Edtoma Secretarial Services Ltd.
Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong.
[Tel: 852-2956 3333; Fax: 852-3582 5160]
Associated Company:-
Riviere Villamizar y Cia S En C
Carrera 99, No. 4A-16, Cali, Columbia.
59696753
1734158
23rd April, 2012.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
SHAREHOLDERS: (As per registry dated 23-04-2013)
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Name |
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No. of shares |
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Paola RIVIERE LOPEZ |
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1 |
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Gabriel Andres CALDERON NUTT |
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1 |
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– |
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Total: |
2 = |
DIRECTORS: (As per registry dated 23-04-2013)
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Name (Nationality) |
Address |
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Gabriel Andres CALDERON NUTT |
Cr 102, 11-45 To 1, 1501 Barrio Ciudadela Campes, Cal Valle, Estrato 6, Colombia. |
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Paola RIVIERE LOPEZ |
Crr102, No. 11 45 Tr 1 Apto 1501, Ciudad Jardin, Cali‑Valle, Colombia. |
SECRETARY: (As per registry dated 23-04-2013)
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Name |
Address |
Co. No. |
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Edtoma Secretarial Services Ltd. |
Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong. |
0534483 |
Qualitas Primum Ltd. was incorporated on 23rd April, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial service firm located at Suite 1201, 12/F., Tower 2, The Gateway, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong known as Edtoma Secretarial Services Ltd. which is handling its correspondences and documents. This company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
We can reach nobody at your given phone number 852-5805 2494 as this line is not in service.
According to the Companies Registry of Hong Kong, the subject has issued just two ordinary shares of HK$1.00 each which are equally owned by Mr. Paola Riviere Lopez and Mr. Gabriel Andres Calderon Nutt. They are Republic of Colombia passport holders and do not have the right to reside in Hong Kong permanently. They are also directors of the subject.
To our knowledge, the subject has had an associated company in Colombia known as Riviere Villamizar y Cia S En C [Riviere].
The subject and Riviere are engaged in the same lines of business, more or less.
Riviere is trading in the following products:-
Essential Oils;
Natural dyes;
Spices & Dehydrated Natural Products such as dehydrated vegetables, etc.;
Instant & Standardized dry Extracts;
Incenses;
Finished Products;
Herbs and Chinese Medicines, medicinal plants, etc.; &
Other Products.
Commodities are sourced from China, India, Southeast Asia, etc. Products are marketed in Columbia, etc.
It is likely that Riviere deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Riviere 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 just over a year and six months.
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.
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.62.57 |
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1 |
Rs.100.63 |
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Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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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.