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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLD BILLION TECHNOLOGY LTD. |
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Registered Office : |
C/o Hong Kong Consultant Co. Room 6, 7/F., Treasure Centre, 42 Hung To Road, Kwun Tong, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.10.2013 |
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Com. Reg. No.: |
62193065 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business. [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No of Employees : |
No Employee 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 : |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 |
Your “Flat D, 6/F., Tower 5, Festival City, Phase 2, 1 Mei Tin Road, Tai
Wai, New Territories, Hong Kong” is in a residential building which we have no
knowledge.
GOLD BILLION
TECHNOLOGY LTD.
Registered
Office:-
C/o Hong Kong Consultant Co.
Room 6, 7/F., Treasure Centre, 42 Hung To Road, Kwun Tong, Kowloon, Hong
Kong.
62193065
1982250
18th October, 2013.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1.00
(As per registry dated 18-10-2013)
|
Name |
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No. of share |
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Company Kit Secretarial Services Ltd., Hong Kong. |
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1 = |
(As per registry dated 05-11-2013)
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Name (Nationality) |
Address |
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LEE Sin Yee |
Room 2212, 22/F., Pok Tai House, Pok Hong Estate, Shatin, New
Territories, Hong Kong. |
(As per registry dated 05-11-2013)
|
Name |
Address |
Co. No. |
|
Accsec Ltd. |
Unit 607, 6/F., Tower 3, Phase 1, Enterprise Square, 9 Sheung Yuet
Road, Kowloon, Hong Kong. |
0758607 |
The subject was incorporated on 18th October, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Central, Hong Kong where
was the operating address of a commercial service provider Company Kit
Secretarial Service Co. Ltd. The subject
moved to the present address with effect from 13th November, 2013 as it has
changed its commercial service provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Gold Billion Technology Ltd. was incorporated on 18th October, 2013 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 6, 7/F., Treasure Centre, 42 Hung To Road, Kwun
Tong, Kowloon, Hong Kong which is handling its correspondences and documents.
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 owned by Company Kit Secretarial
Services Ltd. [Company Kit], a Hong Kong-registered commercial service
provider. Company Kit is a nominal
shareholder.
The director of the subject Ms. Lee Sin Yee is a Hong Kong
businesswoman. She is also the only
director of the subject. She was
appointed on 5th November, 2013.
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business. The
background of the subject is also unknown to us.
The director of the subject cannot be reached although she is in Hong
Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong 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.61.41 |
|
|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
|
-- |
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.