MIRA INFORM REPORT

 

 

Report Date :

25.08.2014 

 

IDENTIFICATION DETAILS

 

Name :

SKYLINE PRIVATE LTD.

 

 

Registered Office :

Flat 1103, Hang Seng Mongkok Building, 677 Nathan Road, Mongkok, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

21.12.2010

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not Available

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employees

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dissolved

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Hong Kong

A1

A1

 

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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies

 

Source : CIA

 

 

 


Company name and address

 

SKYLINE PRIVATE LTD.

 

 

    

 

Unit 1010, Miramar Tower, 132 Nathan Road, Tim Shat Sui, Kowloon, Hong Kong.

(Should be written as Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.)

 

 

GENERAL

 

As per Companies Registry, there is no such name registered in their file.  We found that there was a company name registered and headed with “Skyline (PVT) …..” with details as follow:-

 

Name:  Skyline (PVT) Ltd.

[Name changed to Skylinestar (PVT) Ltd. on 12-01-2011]

Company File Number:  1543024

Date of Incorporation:  21st December, 2010.

Company Status:  Private

Active Status:  Dissolved

Registered Office:  Flat 1103, Hang Seng Mongkok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

However, the registered office of this company is not matched with your given address.  In addition, this company was dissolved on 19th April, 2013.

According to Business Registration Office, the name of “Skyline (PVT) Ltd.” is not found in the database.

 Our on-site investigator reported that your given address Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong was the office address of an accountant firm known as ABS & Co [ABS].  The details of ABS as follow:-

 

Name:  ABS, Certified Public Accountants

Address:  Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.

Telephone Number:  852-8102 2592

Fax Number:  852-8102 2593

Email:  AsiaBusinessService@gmail.com

 

Nature of Business:  Accounting/Audit/Company Secretarial & Management Consultancy Services.

As far as we know, ABS is a professional certified public accountant.  Through its affiliate, Asia Business Service Ltd., ABS is engaged in the provision of auditing service, corporate secretarial service, corporate taxation, individual taxation, company setting / formation (including liquidation), etc.

A staff of ABS informed us that “Skyline Private Ltd.” cannot be found in their customers’ list.  A similar name known as “Skylink Private Ltd. was existed.  For further information, please refer to the attachment.  ABS provides company formation and corporate secretarial services to “Skylink Private Ltd.”  However, she refused to disclose any additional information due to customer’s privacy.

The name of “Skyline Private Ltd.” and “Skylink Private Ltd.” are not listed in any available telephone and commercial directories and also is unknown to other sources consulted.

No legal actions were traced against “Skyline Private Ltd.” or “Skylink Private Ltd.” during the course of this investigation.

In view of the lack of information, we have no basis upon which to recommend credit dealings.

 

 

ANNEX:            Skylink Private Ltd. (Company Search)

 

 

Company name and address

 

SKYLINK PRIVATE LTD.

 

ADDRESS:       Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

 60368911

 

 

COMPANY FILE NUMBER 

 

1801090

 

 

DATE OF INCORPORATION

 

17th September, 2012.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$1.00

 

SHAREHOLDER:           (As per registry dated 17-09-2013)

Name

 

No. of share

Tausifuzzaman KHALEEQUZZAMAN

 

1

=

 

DIRECTOR:       (As per registry dated 17-09-2013)

Name

(Nationality)

 

Address

Tausifuzzaman KHALEEQUZZAMAN

1, Abdulwahe, Capital Sky LLC, Mena Road Bur Dubai P.B. 46164, Dubai, UAE.

 

SECRETARY:    (As per registry dated 17-09-2013)

Name

Address

Co. No.

Asia Secretarial Services Ltd.

Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

1401131


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.43

UK Pound

1

Rs.100.23

Euro

1

Rs.80.35

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.