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Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SUCCESS STAR TRADING LTD. |
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Registered Office : |
c/o Hashmi
Secretarial Services Ltd. Unit B, 3/F., |
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Country : |
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Date of Incorporation : |
19.02.2014 |
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Com. Reg. No.: |
62762004 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
TRADER
OF ALL KINDS OF DIAMONDS |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
SUCCESS STAR
TRADING LTD.
ADDRESS: c/o Hashmi Secretarial
Services Ltd.
Unit B, 3/F., Chun Wah Commercial Building, 30
Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2366 0401
FAX: 852-2367 7505
Managing Director: Mr. Ashish Gopal Patel
Incorporated on: 19th February, 2014.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Diamond
Trader.
Employees: 2.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SUCCESS STAR
TRADING LTD.
Registered Head
Office:-
c/o Hashmi Secretarial Services Ltd.
Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong.
62762004
2038890
Managing Director: Mr. Ashish Gopal Patel (Mobile: 852-5444 0909)
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 19-12-2014)
|
Name |
|
No. of share |
|
Company Kit Secretarial Services Ltd., Hong Kong. |
|
1 = |
DIRECTOR: (As per
registry dated 12-03-2014)
|
Name (Nationality) |
Address |
|
Ashish Gopal PATEL |
Kamathipura, 8th Lane, Bldg No. 3, Room No. 1, 2, 3 Above Post Office,
S.P. Road, Mumbai 400 008, M.S., India. |
SECRETARY: (As per
registry dated 12-03-2014)
|
Name |
Address |
Co. No. |
|
Hashmi Secretarial Services Ltd. |
Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong. |
0770656 |
The subject was incorporated on 19th February, 2014 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Unit A, 3/F., Cheong Sun Tower, 116‑118 Wing
Lok Street, Sheung Wan, Hong Kong where is the operating office of a commercial
service provider Company Kit Secretarial Services Ltd. It moved to the present address with effect
from 12th March, 2014 as it has changed its commercial service provider since
then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Diamond
Trader.
Lines: All
kinds of diamonds, etc.
Employees: 2.
Commodities Imported: India,
other Asian countries, etc.
Markets: Hong
Kong, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Too
early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory
Banker: The Hongkong & Shanghai
Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued just one ordinary share of HK$1.00 each, Success Star
Trading Ltd. is set up and owned by a Hong Kong secretarial company known as Company
Kit Secretarial Services Ltd. This
company is located at Unit A, 3/F., Cheong Sun Tower, 116-118 Wing Lok Street,
Sheung Wan, Hong Kong.
The director of the subject Mr. Ashish Gopal Patel is an India
merchant. He is an India passport holder
and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Unit B, 3/F., Chun Wah Commercial Building, 30 Minden
Avenue, Tsimshatsui, Kowloon, Hong Kong” known as “Hashmi Secretarial Services
Ltd.” which is handling its correspondences and documents. This company is also the corporate secretary
of the subject.
We can reach Ashish Gopal Patel at your given Hong Kong mobile phone
number 852-5444 0909. Currently, Patel
is in Hong Kong and co-operative.
According to Patel, the subject is a diamond importer, exporter and
wholesaler. It is trading in loose,
polished and cut diamonds. Most of the
commodities are imported from India.
Prime markets are Hong Kong, China and the other Asian countries. Business is still under development.
The subject has two employees in Hong Kong. It has been banking with The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
The subject’s business is chiefly handled by Patel himself. History in Hong Kong is just over five
months.
On the whole, since the history of the subject is short in Hong Kong,
consider it good for normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.10 |
|
|
1 |
Rs. 102.04 |
|
Euro |
1 |
Rs. 80.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SMT |
|
|
|
|
Report Prepared
by : |
DPT |
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.