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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHENG LI
TELECOM LTD. |
|
|
|
|
Registered Office : |
c/o Happy &
Kelly Ltd., Room 1614, 16/F., Wealth Commercial Center, 48 Kowng Wa Street,
Mongkok, Kowloon |
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|
|
|
Country : |
Hong Kong |
|
|
|
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Date of Incorporation : |
17.06.2008 |
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|
|
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Com. Reg. No.: |
39457375 |
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|
|
|
Legal Form : |
Private Limited Liability |
|
|
|
|
Line of Business : |
subject currently offers a complete suite of solutions in Voip ranging
from DID services, to its reseller platform for wholesale and retail Voip
termination, Voip Origination and Hosted Pbx, among other services. |
|
|
|
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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 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.) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SHENG LI
TELECOM LTD.
ADDRESS:
Registered
Office:-
c/o Happy &
Kelly Ltd.
Room 1614, 16/F.,
Wealth Commercial Center, 48 Kowng Wa Street, Mongkok, Kowloon, Hong Kong.
[Tel: 852-2388
9812; Fax: 852-2780 8183]
Man Bond
International Ltd., Hong Kong. (same
address)
39457375
1248032
17th June, 2008.
Nominal Share
Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
(As
per registry dated 17-06-2013)
|
Name |
|
No.
of shares |
|
Ashraf ALI |
|
10,000 ===== |
(As
per registry dated 17-06-2013)
|
Name (Nationality) |
Address |
|
Riyaz Abdul Aziz
SHAIKH |
Kamaldeep Garden F No. 1 Building B2 S No
8/2 Kondhwa Khurd Pune 411048, India. |
|
Ashraf ALI |
4/1 Momin Pore Road, Khidderpur,
Kolkata-23, India. |
(As
per registry dated 17-06-2013)
|
Name |
Address |
Co.
No. |
|
Happy
& Kelly Ltd. |
Room 1614, 16/F., Wealth Commercial Centre, 48 Kowng Wa Street,
Mongkok, Kowloon, Hong Kong. |
1286492 |
The
subject was incorporated on 17th June, 2008 as a private limited liability
company under the Hong Kong Companies Ordinance.
Formerly
the registered address of the subject was located at Room 1314, 13/F., Beverley
Commercial Centre, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved
to the present address in July 2010 as it has changed its commercial service
since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Having
issued 10,000 ordinary shares of HK$1.00 each, Sheng Li Telecom Ltd. is wholly
owned by Mr. Ashraf Ali who is an Indian.
He and Mr. Riyaz Abdul Aziz Shaikh are the directors of the subject. Both are India passport holders and do not
have the right to reside in Hong Kong permanently.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at Room
1614, 16/F., Wealth Commercial Centre, 48 Kowng Wa Street, Mongkok, Kowloon,
Hong Kong known as Happy & Kelly Ltd. which is handling its correspondences
and documents. Happy & Kelly Ltd. is
also the corporate secretary of the subject.
The
subject has no employees in Hong Kong.
Your
3250 NW 86th Ave, Coral Springs, FL 33065 is in the United States. This address is a residential unit.
The
subject initiated by providing voice services through strict quality standards
and innovative business strategies it was quickly recognized as a vital partner
by major tier 1 carriers and mobile operators around the world. Today the subject offers direct termination
globally through its world wide network of direct interconnections and carries
over 300 million minutes a month.
The
subject currently offers a complete suite of solutions in Voip ranging from DID
services, to its reseller platform for wholesale and retail Voip termination,
Voip Origination and Hosted Pbx, among other services.
According
to the subject, it is dedicated to offer clients with voice and data services
which are reliable.
The
subject provides carriers services for all types of companies. From Tier1s which require a personalized
account manager, custom offers based on volume, and reciprocal agreements; to
partners which are fast and flexible and may require self services portals,
on-demand services and reseller options.
Carrier
services include:-
·
International and domestic voice
termination.
·
Bulk SMS.
·
Premium routing for quality
sensitive retail operations.
The
subject has had an associated company Man Bond International Ltd. [Man Bond], a
Hong Kong-registered firm located at the same address. The contact person of Man Bond is also Ashraf
ALI.
Man
Bond is trading in the following commodities: bicycle & tricycle;
broadcasting equipment; clocks; cutlery & flatware; electric domestic
appliances; footwear - rubber & textile; hand tools; iron - ac; sandals -
rubber; tableware - porcelain, etc.
Commodities
are sourced from China and the other Asian countries. However, Man Bond’s business is not active in
Hong Kong.
The
subject’s business in Hong Kong is also not active. History in Hong Kong is over five years
and three 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
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
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.