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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARC GROUP
PRIVATE LTD. |
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Registered Office : |
Room 531, 5/F., Metro Centre II, 21 Lam Hing Street, Kowloon Bay,
Kowloon |
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Country : |
Hong Kong. |
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Date of Incorporation : |
11.06.2009 |
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Com. Reg. No.: |
50776205 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Electronic Products, Electric Appliances,
Other Light Industrial Products |
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No. of Employees : |
4. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
MARC GROUP
PRIVATE LTD.
ADDRESS: Room 531, 5/F., Metro Centre II, 21
Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: Not available
FAX: Not available
Managing
Director: Mr. Deepak Challu
Incorporated
on: 11th June, 2009.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued:
HK$10,000.00
Business Category:
Importer, Exporter and Wholesaler.
Employees: 4.
Main Dealing
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
Registered
Head Office:-
Room 531, 5/F.,
Metro Centre II, 21 Lam Hing Street, Kowloon Bay, Kowloon, Hong Kong.
50776205
1344658
Managing
Director: Mr. Deepak Challu
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 11-06-2013)
|
Name |
|
No.
of shares |
|
Deepak
CHALLU |
|
5,000 |
|
Anne CHALLU |
|
5,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
(As
per registry dated 11-06-2013)
|
Name (Nationality) |
Address |
|
Deepak CHALLU |
Unit A, 7/F., Block 5, Phase 1, Laguna
City, Kowloon, Hong Kong. |
|
Anne CHALLU |
Unit A, 7/F., Block 5, Phase 1, Laguna
City, Kowloon, Hong Kong. |
Anne CHALLU (As per registry dated 11-06-2013)
The
subject was incorporated on 11th June, 2009 as a private limited liability
company under the Hong Kong Companies Ordinance.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Electronic products, electric appliances,
other light industrial products, etc.
Employees: 4.
Commodities
Imported: China, other Asian countries,
etc.
Markets: India, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
Nominal Share
Capital: HK$10,000.00 (Divided into
10,000 shares of HK$1.00 each)
Issued Share
Capital: HK$10,000.00
Profit or Loss:
Made a small profit in 2012.
Condition: Business keeps on improving.
Facilities: Adequate for current running.
Payment: Met trade commitments
as contracted.
Commercial
Morality: Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having
issued 10,000 ordinary shares of HK$1.00 each, Marc Group Private Ltd. is
equally owned by Mr. Deepak Challu and Ms. Anne Challu. They are also directors of the subject. Being Hong Kong ID holders, they have got the
right to reside in Hong Kong permanently.
Deepak
Challu and Anne Challu is a couple.
The
subject’s telephone number and fax number have not registered with local
telephone company nor listed on telephone directories. However, according to our spot investigation,
the subject is certainly located at its registered address in Hong Kong.
The
subject’s lines of business are unknown since the directors of the subject
cannot be reached.
From
indirect sources, it is reported that the subject is trading in electronic
products, electric appliances and the other light industrial products,
etc. Most of the commodities are sourced
from China. However, these two lines of
business are unconfirmed. The subject is
also a commission agent.
The
subject has had business ties with a number of firms in India. Regular suppliers have been maintained. Business is chiefly handled by the Challus.
As
the history of the subject is just over four years and three months in
Hong Kong, on the whole, consider it good for normal business engagement
in small credit amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
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 |
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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.