|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNIQUE CENTURY HOLDINGS LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.11.2006 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
Line of Business : |
Subject is engaged in the import and export of recycling
materials |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Offshore Company |
|
Payment Behaviour : |
Unknown |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Hong Kong |
A2 |
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 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 |
UNIQUE CENTURY
HOLDINGS LTD.
: Unit 1010, 10, Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.
(Should be written as Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.)
GIVEN PHONE NUMBER: +852 8175 3534
1. As per Companies Registry, there is no such name registered in their file. We found that there is a company name registered and headed with “Unique Century …..” with details as follow:-
Name: Unique Century International Ltd.
Company File Number: 1088574
Date of Incorporation: 18th November, 2006
Company Status: Private
Active Status: Live
Registered Office: Profit Industrial Building, 1-15 Kwai Fong Crescent, Kwai Chung, New Territories, Hong Kong.
However, the registered office of this company is not matched with your given address.
2. According to Business Registration Office, the name of the subject is not found in the database.
3. 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, Road, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong.
Telephone Number: 8102 2592
Fax Number: 8102 2593
Email: AsiaBusinessService@gmail.com
Nature of Business: Accounting/Audit/Company Secretarial & Management Consultancy Services.
4. 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.
5. A staff of ABS informed us that “Unique Century Holdings Ltd.” was one of their customers. ABS provides company formation and corporate secretarial services to the subject. However, she refused to disclose any additional information about the subject due to customer’s privacy.
6. The name of “Unique Century Holdings Ltd.” is not listed in any available telephone and commercial directories and also is unknown to other sources consulted.
7. No legal actions were traced against “Unique Century Holdings Ltd.” during the course of this investigation.
8. Your given phone number: +852 8175 3534 is a mobile phone number which can be connected to a gentleman known as John. John told us that “Unique Century Holdings Ltd.” is an offshore company incorporated in Seychelles in 2013. The company is a commodity trader mainly engaged in the import and export of recycling materials. The commodities are mainly sourced from Europe, U.K., U.S., & China and sold to India, Singapore, Malaysia, Turkey and other European countries. It has opened a bank account with The Hongkong & Shanghai Banking Corporation in Hong Kong. The shareholders of “Unique Century Holdings Ltd.” consist of two companies but John refused to disclose the identity of the owners. All the company’s secretarial works are operated by a staff of ABS known as Ms. Jenny Cheung.
In
view of the lack of information, we have no basis upon which to recommend
credit dealings.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.