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Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SKYTON (ASIA) LTD. |
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Registered Office : |
Unit 903, 9/F., 102 Austin Road, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.09.2006 |
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Com. Reg. No.: |
37860429 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Natural Rubber Nitrile Gloves |
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No of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
SKYTON (ASIA)
LTD.
ADDRESS: Unit 903, 9/F., 102 Austin
Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 852-2723 6178
FAX: Not available.
Managing Director: Mr. Amit
Devdas Mehra
Incorporated on: 12th September, 2006.
Organization: Private Limited
Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: DBS
Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
SKYTON (ASIA)
LTD.
Registered Head
Office:-
Unit 903, 9/F., 102 Austin Road, Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Sincere Nominees Ltd., Hong Kong.
37860429
1073514
Managing Director: Mr. Amit
Devdas Mehra
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 12-09-2013)
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Name |
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No. of shares |
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Ashish GUPTA |
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1,000 |
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Sincere Nominees Ltd., Hong Kong. |
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9,000 |
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|
–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 12-09-2013)
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Name (Nationality) |
Address |
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Amit Devdas MEHRA |
Flat C, 3/F., Block 2, Dragonview, 83 Chung Hau Street, Homantin,
Kowloon, Hong Kong. |
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Ashish GUPTA |
Skylark Building, Flat No. 3, 11 Little Gibbs, Mumbai-6, India. |
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Sincere Nominees Ltd. |
13/F., Chun Wo Commercial Centre, 23-27 Wing Wo Street, Central, Hong
Kong. |
(As per registry
dated 12-09-2013)
|
Name |
Address |
Co. No. |
|
Sincere Secretaries Ltd. |
13/F., Chun Wo Commercial Centre, 23‑29 Wing Wo Street,
Central, Hong Kong. |
0109535 |
The subject was incorporated on 12th September, 2006 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: Natural Rubber Nitrile Gloves, etc.
Employees: 3.
Commodities Imported: China,
other Asian countries, etc.
Markets: Asian
countries, Europe, US, etc.
Terms/Sales: L/C or as per
contracted.
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$10,000.00
Mortgage or Charge:-
Date of Charge on Cash Deposit to secure Liabilities of the Depositor: 29-10-2012
Amount: All sums of
money and liabilities as at the date of the Charge or in the future owing to
the Bank
Property: (1) By way of first fixed charge and
agreement to charge:
The Deposit and all right, title and interest of the Company
(2) By way of set-off:
Any sum standing to the credit of any one or more of the accounts of the
Company with the Bank Mortgagee: DBS Bank Ltd., Hong Kong Branch.
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a satisfactory
manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Skyton (Asia) Ltd.
is jointly owned by Sincere Nominees Ltd., a Hong Kong-registered company
holding 90% interests, and Mr. Ashish Gupta, holding 10%. The latter is an India merchant.
The managing director of the subject Mr. Amit Devdas Mehra is also an
Indian. He is a Hong Kong ID Card holder
and has got the right to reside in Hong Kong permanently.
The subject is trading in Natural Rubber Nitrile Gloves, etc. Its principal supplier is Nimex Saltillo s a
de Cv, a Mexico-based company. Its
products are marketed in Asian countries, business is normal.
The subject’s business is chiefly handled by Amit Devdas Mehra. One of the employees of the subject is a
female who is a Hongkongnese.
As the history of the subject is over seven years in Hong Kong, on the
whole, consider it good for normal business engagements in moderate credit
amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.47 |
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|
1 |
Rs. 100.93 |
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Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
-- |
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.