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Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
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Name : |
RELIABLE INDUSTRIAL (HK) LTD. |
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Registered Office : |
c/o Krsna Group Ltd. Suite 2007, 20/F., Empress Plaza, 17-19 Chatham Road South, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.04.2010 |
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Com. Reg. No.: |
52045054 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is trading in the following commodities: LCD Televisions, Plasma TVs, DVD Players, other electronic products |
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No. of Employees : |
No employees in Hong Kong It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
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 : |
No operating office in Hong Kong |
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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 – 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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
RELIABLE
INDUSTRIAL (HK) LTD.
Registered
Office:-
c/o Krsna Group Ltd.
Suite 2007, 20/F., Empress Plaza, 17-19 Chatham Road South, Tsimshatsui,
Kowloon, Hong Kong.
Associated
Companies:-
Golden Star Expo (HK) Ltd., Hong Kong.
Shenzhen Reliance Import & Export Corporation Ltd., China.
Shenzhen Huaxing Industrial Enterprise Co. Ltd.
12K, Sun Island Building, Dongmen Nan Road, Luohu District, Shenzhen
Special Economic Zone, China.
[Tel.: 86-755-8214 7166,
Fax: 86-755-8214 7177]
52045054
1440111
8th April, 2010.
HK$200,000.00
(As per registry dated 08-04-2014)
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Name |
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No. of shares |
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ZHENG Yonghong |
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200,000 ====== |
(As per registry dated 08-04-2014)
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Name (Nationality) |
Address |
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Vinod Vijay KHULLAR |
Guangdong Sheng, Shenzhen Shi, Luohu Qu, Wen Jing Zhong Lu, 1018 Hao
Hai Li, Da Sha Li Zhu Ge, 30B, China. |
|
ZHENG Yonghong |
Room 1005, 14 Building, Garden Kang Daer, Buji Town, Shenzhen, China. |
(As per registry dated 08-04-2014)
|
Name |
Address |
Co. No. |
|
CBS Pacific Ltd. |
Room A, 8/F., Kam Chung Commercial Building, 19-21 Hennessy Road,
Wanchai, Hong Kong. |
0582043 |
The subject was incorporated on 8th April, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Reliable Star
(HK) Ltd., name changed to the present style on 17th November, 2011.
Formerly the subject’s registered address was located at “Room A, 8/F.,
Kam Chung Commercial Building, 19-21 Hennessy Road, Wanchai, Hong Kong” where
was the operating office of a commercial service provider CBS Pacific Ltd. It moved to the present address in May 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.
Date of Security over Deposit in respect of Obligations of the
Depositor: 31-03-2013
Amount: All monies and
liabilities
Property: By way of first
charge to the Chargee the account No. 861600073579 and all deposits from time
to time therein
Mortgagee: The Industrial
& Commercial Bank of China, Hong Kong Branch. [Now known as Industrial & Commercial
Bank of China Ltd.]
Having issued 200,000 ordinary shares, Reliable Industrial (HK) Ltd. is
wholly owned by Mr. Zheng Yonghong who is a China merchant.
He is a China passport holder and does not have the right to reside in
Hong Kong permanently. He and Mr.
Vinod Vijay Khullar are directors of the subject. Vinod Vijay Khullar is an India merchant
holding an India passport. Currently his
registered address is in Shenzhen Special Economic Zone, China.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Suite 2007, 20/F., Empress Plaza, 17‑19 Chatham
Road South, Tsimshatsui, Kowloon, Hong Kong” which is handling its
correspondences and documents.
The subject has no employees in Hong Kong.
The subject has had an associated company Shenzhen Huaxing Industrial
Enterprise Co. Ltd. [Huaxing] which is a China-based company. Your given phone and fax number 86-755-8214
7166 and 86-755-8214 7177 respectively belongs to Huaxing.
Huaxing and another company Shenzhen Reliance Import & Export
Corporation Ltd. [Shenzhen Reliance] are located at the same address in
Shenzhen Special Economic Zone, China.
Shenzhen Reliance is a movie supplier.
The subject and Huaxing are trading in the same commodities. Huaxing is trading in the following
commodities:
LCD Televisions, Plasma TVs, DVD Players, other electronic products
Products are exported to Eastern Asia, other Asian countries, North and
South America, the Middle East, Africa, Egypt, Australia, etc.
The subject has had an associated company Golden Star Expo (HK) Ltd.
which is a Hong Kong-registered company [Golden Star Expo]. The owner of Golden Star Expo is Mr. Vinod
Vijay Khullar.
In May 2013, Golden Star Expo was claimed by Bank of India for an amount
due of US$1,016,207.67.
The subject has been banking with Industrial & Commercial Bank of
China (Asia) Ltd., Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.60.11 |
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|
1 |
Rs.102.32 |
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Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NNA |
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 |
-- |
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.