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Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SKY TREND INVESTMENT (HK) LTD. |
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Registered Office : |
c/o Tritas
Corporate Services Ltd. Room 2004, 20/F., Centre Point, 181-185 Gloucester Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.08.2012 |
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Com. Reg. No.: |
60205311 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Tile and ceramic product trader, other building materials |
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No. of Employees |
Not Available 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. |
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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
SKY
TREND INVESTMENT (HK)
LTD.
ADDRESS:
Registered
Office:-
c/o Tritas
Corporate Services Ltd.
Room 2004, 20/F., Centre
Point, 181-185 Gloucester Road, Wanchai, Hong Kong.
Associated
Company:-
European Tiles
Distributors, US.
60205311
1784804
9th August, 2012.
Nominal Share
Capital: HK$ 1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1.00
(As
per registry dated 09-08-2013)
|
Name |
|
No.
of share |
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Power Achieve Ltd., Hong Kong. |
|
1 = |
(As
per registry dated 04-10-2013)
|
Name (Nationality) |
Address |
|
WU Ka Chun,
Tommi |
6 Tung Tau Tsuen, Ping Ha Road, Yuen Long,
New Territories, Hong Kong. |
|
Power Achieve
Ltd. |
Room 2004, 20/F., Centre Point, 181-185 Gloucester
Road, Wanchai, Hong Kong. |
(As
per registry dated 04-10-2013)
|
Name |
Address |
Co.
No. |
|
Pacific
Gateway Finance Ltd. |
6 Tung Tau Tsuen, Ping Ha Road, Yuen Long, New Territories, Hong Kong. |
1653144 |
|
Tritas
Corporate Services Ltd. |
Room 2004, 20/F., Centre Point, 181‑185 Gloucester Road,
Wanchai, Hong Kong. |
1493112 |
Sky
Trend Investment (HK) Ltd. was incorporated on 9th August, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
The
subject does not have its own operating office.
Its registered office is in a commercial service firm located at “Room
2004, 20/F., Centre Point, 181‑185 Gloucester Road, Wanchai, Hong Kong”
known as “Tritas Corporate Services Ltd.” [Tritas] which is handling its
correspondences and documents. This firm
is also one of the corporate secretaries of the subject.
The
subject has no employees in Hong Kong.
According
to the Companies Registry of Hong Kong, the subject has issued just one
ordinary share of HK$1.00 which is wholly owned by Power Achieve Ltd. [Power
Achieve], a Hong Kong-registered company located at the address of Tritas.
The
directors of the subject are Power Achieve and Mr. Wu Ka Chun, Tommi who is a
Hong Kong merchant.
Your
given phone number 1-713-6900 700 belongs to a firm in the United States known
as European Tiles Distributors [ETD].
Located
at 12828 Hempstead Road, Houston, TX 77092, the United States, ETD is trading
in tiles, ceramic products, other building materials, etc. The subject seems to be also a tile and
ceramic product trader, other building materials. Commodities are exported to Asian countries,
the United States.
The
contact person of ETD in the United States is Mr. George Najjar.
The
business of the subject in Hong Kong is chiefly handled by Wu Ka Chun.
The
subject’s business in Hong Kong is not very active. History is just over a year.
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 |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.80.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
PDT |
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 |
|
|
<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.