|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASTELIAN
LTD. |
|
|
|
|
Registered Office : |
c/o Aall & Zyleman Co. Ltd. 3/F., Jonsim Place, 228 Queen’s Road East, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
16.05.2013 |
|
|
|
|
Com. Reg. No.: |
61448219 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available |
|
|
|
|
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 : |
--- |
|
|
|
|
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) |
|
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 |
ASTELIAN LTD.
Registered Office:-
c/o Aall & Zyleman Co. Ltd.
3/F., Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong.
[Tel: 852-2861 2222; Fax: 852-2861 2266]
61448219
1908610
16th May, 2013.
Nominal Share Capital: HK$1,000.00 (Divided into shares of HK$ each)
Issued Share Capital: HK$1,000.00
(As per registry
dated 16-05-2013)
|
Name |
|
No. of shares |
|
Sino Nomine Nominees Ltd., Hong Kong. |
|
500 |
|
Semper Fidelis Nominees Ltd., Hong Kong. |
|
500 |
|
|
|
–––– |
|
|
Total: |
1,000 ==== |
(As per registry
dated 16-05-2013)
|
Name (Nationality) |
Address |
|
LEE Pui Yee, Anita |
3/F., 228 Queen’s Road East, Wanchai, Hong Kong. |
|
AU Wai Kwan |
3/F., 228 Queen’s Road East, Wanchai, Hong Kong. |
(As per registry
dated 16-05-2013)
|
Name |
Address |
Co.
No. |
|
AALL & Zyleman Co. Ltd. |
3/F., Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong. |
0013784 |
Astelian Ltd. was incorporated on 16th May, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own office. Its registered office, located at 3/F., Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong, is the operating office of a commercial service firm known as Aall & Zyleman Co. Ltd. [AZCL] which is handling the subject’s correspondences and documents. The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 1,000 ordinary shares of HK$1.00 each which are equally owned by two nominee firms, namely, Semper Fidelis Nominees and Sine Nomine Nominees Ltd. Both firms are also located at the above-mentioned address.
The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it.
The subject’s directors are Ms. Anita Lee Pui Yee and Ms. Au Wai Kwan. Currently, Ms. Lee is/was also the director of the following firms:-
Accessory Network Ltd. [Dissolved]
B & L Trading International Ltd. [Dissolved]
Berenson (Far East) Ltd.
China Group Trading Co. Ltd.
CSC Components Ltd.
Distri Global Ltd.
Eclipse Communications Ltd.
Golden China Enterprises Ltd.
Hills Commodities Ltd. [Dissolved]
Hohenloher Finance Ltd.
Innovative Resources Ltd.
Inter-Continental Marketing Corporation Ltd. [Dissolved]
Kennado Co. Ltd. [Dissolved]
Monarch Watch Ltd. [Dissolved]
Pak Tak Properties Co. Ltd. [Dissolved]
Pakson International Co. Ltd. [Dissolved]
Park Kong Industrial Ltd. [Dissolved]
Silverstan Resources Ltd. [Dissolved]
Sinocase Solutions Co. Ltd. [Formerly R.P.S. International Ltd.]
Teleport Transactions Ltd. [Deregistration]
Tung Hoi World Trade Ltd.
Uniforce International Co. Ltd. [Dissolved]
Wah Fung Enterprises Asia Co. Ltd.
Yung Tai Trading Ltd.
etc.
Ms. Au is/was also the director of the
following firms:-
Accessory Network Ltd. [Dissolved]
B & L Trading International Ltd. [Dissolved]
Brilliant Crystal Trading Ltd.
China Group Trading Co. Ltd.
CSC Components Ltd.
Distri Global Ltd.
Eclipse Communications Ltd.
Golden China Enterprises Ltd.
Golden Sun Enterprises Ltd.
Hills Commodities Ltd. [Dissolved]
Hohenloher Finance Ltd.
Inter-Continental Marketing Corporation Ltd. [Dissolved]
Kennado Co. Ltd. [Dissolved]
Mercury Technologies (H.K.) Ltd.
Monarch Watch Ltd. [Dissolved]
Pak Tak Properties Co. Ltd. [Dissolved]
Pakson International Co. Ltd. [Dissolved]
Park Kong Industrial Ltd. [Dissolved]
Silverstan Resources Ltd. [Dissolved]
Teleport Transactions Ltd. [Deregistration]
Tung Hoi World Trade Ltd.
Uniforce International Co. Ltd. [Dissolved]
Wah Fung Enterprises Asia Co. Ltd.
Yung Tai Trading Ltd.
etc.
Most of the above-mentioned firms are shelf companies and do not have any business engagements in Hong Kong, so does the subject.
AZCL is one of the oldest management service companies in Hong Kong providing a range of expertise to corporations and private investors including corporate management, market research, financial, banking, legal, and accounting areas. Supported by a global network of representative offices, AZCL is able to provide rather efficient, cost-effective services for clients in Hong Kong and throughout the world. Since its incorporation in 1967, related firms in property, international trade, healthcare products and marketing have been established under the AZCL banner operating in Hong Kong, China and Southeast Asia. Now, AZCL has set up over 20 representative offices around the world.
Lee and Au are also the managerial personnel of AZCL, Hong Kong.
The subject’s business in Hong Kong is not active. History is just over four months.
Since the subject is a shelf company and does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis or other secured terms.
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.61.41 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.