MIRA INFORM REPORT
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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
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Name : |
GMPMAX INDUSTRY LIMITED |
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Registered Office : |
20A, Kiu Fu Commercial Building, 300
Lockhart Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.04.2013 |
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Com. Reg. No.: |
1889821 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is an Offshore Company |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 : |
Offshore company |
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Payment Behaviour : |
Unknown |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Hong Kong |
A1 |
A1 |
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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 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.
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Source : CIA |
Contact Points
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Company Name (in Chinese): |
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Company Name (in English): |
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Supplied Name: |
GMPMAX INDUSTRY LIMITED |
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Supplied Address: |
12/F, SAN TOI BUILDING, 137-139 CONNAUGHT ROAD CENTRAL, HONGKONG |
Note: The exact name is as above and the supplied
address belongs to a company called “Esmond W.T. Leung & Co”.
Credit Summary
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Credit Opinion: |
Since we consider subject as an offshore
company, thus we did not give credit rating at present. |
Special Note
We cannot find subject’s any operation information or valid contact information in Hong Kong through public files according to the supplied name.
We made an on-site visit to the supplied address as above. A company called “Esmond W.T. Leung & Co” located at the address. A relevant staff based on the address introduced that her company is engaged in providing registered and accounting service. But she declined to disclose any information about subject.
We tried to contact subject several times through the supplied telephone number +852-2139-3077 in different periods, while no one answered them. From public files we suspected the phone number probably belongs to a corporate secretary company. As many different companies share the same telephone number in Hong Kong.
According to subject’s registered address, we tried to contact subject through the phone +852-3115-8535. A lady answered it and introduced that her company called Smart Team Secretarial Limited which is engaged in providing registered and accounting service. But she also declined to disclose any information about subject citing the grounds of company’s confidentiality;
We did not find any operation or other valid contact information of subject in Hong Kong according to the supplied name, supplied address and registered address from public files. As subject’s registered address is that of a corporate secretary (Smart Team Secretarial Limited), based on subject’s registered files and our investigation, we consider subject as an offshore company.
We found subject’s registered files from local registry, supplying as following for reference.
Company Identification Details
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Registered Name: |
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Registered Address: |
20A, Kiu Fu
Commercial Building, 300 Lockhart Road, Wanchai, Hong Kong |
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Date of Registration: |
2013-4-11 |
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Registered Number: |
1889821 |
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Business Registration No.: |
61259701 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1 (As of 2014.12, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-4-11 |
History
Subject was incorporated on 2013-4-11 with the registered number 1889821 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not
register any subsidiaries or branches, from other source we can not obtain the
relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
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Jia Haoyan |
5,800 |
58% |
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Fu Kang |
4,200 |
42% |
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Total |
10,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Jia Haoyan |
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Address: |
No.900, Yan-an West Road, Changning
District, Shanghai, China |
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2 |
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Name: |
Fu Kang |
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Address: |
S. Eighth Alley, Mayuan Road, Shucheng Town,
Shuyang County, Jiangsu Province, China |
Management Information
Core Management
Detailed Information
of Directors:
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1 |
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Name: |
Jia Haoyan |
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Address: |
No.900, Yan-an West Road, Changning
District, Shanghai, China |
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Position: |
Director |
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ID Number: |
420621198302277777 |
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2 |
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Name: |
Fu Kang |
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Address: |
S. Eighth Alley, Mayuan Road, Shucheng Town,
Shuyang County, Jiangsu Province, China |
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Position: |
Director |
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ID Number: |
321322198611060077 |
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3 |
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Name: |
Smart Team Secretarial Limited |
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Address: |
20A, Kiu Fu Commercial Building, 300 Lockhart
Road, Wanchai, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1669601 |
Operation Information
Subject does not have business entity in Hong Kong.
Financial Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject does not have business entity in Hong Kong, thus we cannot obtain the relevant information.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of the
subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy
Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction &
Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
12/F, San Toi
Building,137-139 Connaught Road Central，Hong Kong
12/F, San Toi Building,137-139 Connaught Road Central，Hong
Kong
12/F, San Toi Building,137-139 Connaught Road Central，Hong Kong
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.88 |
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UK Pound |
1 |
Rs.97.02 |
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Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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.