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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
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Name : |
METRO CAPITAL LTD. |
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Registered Office : |
c/o Keystone Corporate Services Ltd. 20-21/F., CMA Building, 64 Connaught Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.09.2010 |
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Com. Reg. No.: |
53063910 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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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
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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
|
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 |
METRO CAPITAL LTD.
Registered
Office:-
c/o Keystone Corporate Services Ltd.
20-21/F., CMA Building, 64 Connaught Road Central, Hong Kong.
[Tel: 852-2167 8071; Fax: 852-2167
8646]
Holding Company:-
Syncro Equities Pte Ltd., British Virgin Islands.
Associated
Company:-
Metro Capital Ltd., Singapore.
[Tel: 65-6224 9412; Fax: 65-6225
1577]
53063910
1509664
28th September, 2010.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 28-092012)
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Name |
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No. of share |
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Syncro Equities Pte Ltd. Vanterpool Plaza, Wickhams Cay I, 2/F., Road Town, Tortola, British
Virgin Islands. |
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1 = |
(As per registry dated 09-07-2013)
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Name (Nationality) |
Address |
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KD Services Ltd. |
Start Chambers, Wickham’s Cay II, P.O. Box 2221, Road Town, Tortola,
British Virgin Islands. |
(As per registry dated 09-07-2013)
|
Name |
Address |
Co. No. |
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Keystone Corporate Services Ltd. |
20/F., CMA Building, 64 Connaught Road, Central, Hong Kong. |
F0018525 |
The subject was incorporated on 28th September, 2010, as a Private
Limited Liability Company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Room 2101,
21/F., Hong Kong Trade Centre, 161-7 Des Voeux Road, Central, Hong Kong
where was the operating address of a commercial service provider T & Y
Consultants Ltd. The subject moved to
the present address with effect from 9th July, 2013 as it has changed its
commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
(See attachment)
Having issued just one ordinary share of HK$1.00, Metro Capital Ltd. is
wholly owned by Syncro Equities Pte Ltd. which is a BVI-registered firm. The director of the subject KD Services Ltd.
is also a BVI-registered firm.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 20-21/F., CMA Building, 64 Connaught Road, Central,
Hong Kong. known as Keystone Corporate Services Ltd. [Keystone] which is handling
its correspondences and documents. Keystone
is also the corporate secretary of the subject.
The subject’s business is handled by an employee of Keystone Ms.
Cristine Tang who is a Hongkongnese. She
can be reached at Keystone’s telephone number 852-2167 8071.
The subject has no employees in Hong Kong.
The subject has been banking with Bank Julius Baer & Co. Ltd. which
is a Singapore-based banker.
Your given phone number 65 - 6224 9412 belongs to a firm in Singapore
bearing the same name [MCL]. We made a
phone call to this firm and reached a female staff member of this firm. However, she declined to disclose further
information about her firm. She just
said MCL had offered clients with all kinds of commercial services and
investments. The fax number of MCL is 65
- 6225 1577.
The subject owns a piece of land in Singapore.
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.
|
Date |
Particulars |
Amount |
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02-03-2011 |
Instrument: Memorandum of Charge Over Assets Property: In consideration of the Bank making or continuing to make the facilities
available to the borrower, the chargor irrevocably and unconditionally
covenants to pay on demand the secured indebtedness and as sole beneficial
owner charges and agrees to charges by the charge in favour of the bank Mortgagee: Bank Julius Baer & Co. Ltd. |
The Secured Indebtedness |
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25-04-2011 |
Instrument: Mortgage Property: The mortgagor mortgages under the mortgage to the mortgagee all the
mortgagor’s registered estate or interest in the property Mortgagee: Bank Julius Baer & Co. Ltd. |
The security created under the mortgage shall constitute and be
continuing security for the total liabilities |
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25-04-2011 |
Instrument: Assignment of Rental Proceeds Property: By way of first fixed charge, the assignor as beneficial owner
assigns, agrees to assign and charges absolutely to the bank free from all
liens, charges and other incumbrances, all the present and future rights,
title, interest and benefits of the assignor under or arising out of the
assigned contracts, including but not limited to: A) All rights, title,
interest and benefits of the assignor under or arising out of and in respect
of all monies standing in credit in the assigned account; B) All rights, title,
interest and benefit of the Assignor under or arising out of the assigned
contracts, including all deposits, rents, service charge and other monies
payable or to be become payable under Tenancy Agreements; C) The proceeds of any
payments which may at any time be received by or payable to the assignor
under or in connection with any of the assigned contracts, whether on account
of any claims, awards and judgments made or given under or in connection with
any of the assigned contracts or otherwise howsoever Mortgagee: Bank Julius Baer & Co. Ltd. |
As a continuing security for the payment of the total liabilities |
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
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|
1 |
Rs.100.44 |
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Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.