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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
SMART TIME LTD. |
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Registered Office : |
c/o BEL International Logistics Ltd. Room 8A, 8/F., Mita Centre, 552-566 Castle Peak Road, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
18.02.2004 |
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Com. Reg. No.: |
34323498 |
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Legal Form : |
Private limited liability company |
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LINE OF BUSINESS : |
SUBJECT’S LINES OF BUSINESS ARE UNKNOWN SINCE BEL DECLINED
TO DISCLOSE ANY INFORMATION OF THE SUBJECT. (WE TRIED TO CONFIRM OBTAIN THE DETAILS ACTIVITY BUT THE
SAME IS NOT AVAILABLE FROM ANY SOURCE.) |
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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 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 – June 1, 2014
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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 |
The company is not located at
your “ Queen’s Road, Central, Hong Kong”
which is incomplete.
SMART
TIME LTD.
Registered Office
c/o
BEL International Logistics Ltd.
Room
8A, 8/F., Mita Centre, 552-566 Castle Peak Road, Kwai Chung, New
Territories, Hong Kong.
34323498
0883273
18th
February, 2004.
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital:
HK$10.00
(As per registry dated 18-02-2014)
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Name |
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No. of shares |
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Emerald Gold Ltd. East Asia Chambers P.O. Box 901, Road Town, Tortola,
British Virgin Islands. |
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10 == |
(As per registry dated 18-02-2014
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Name (Nationality) |
Address |
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Emerald
Gold Ltd. |
East Asia Chambers P.O. Box
901, Road Town, Tortola, British Virgin Islands. |
(As per registry dated 18-02-2014)
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Name |
Address |
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WU Wai Chung, Peter |
8/F., Mita Centre, 552-566 Castle Peak Road,
Kwai Chung, New Territories, Hong Kong. |
HK$1,595,811.00 (Total amount outstanding on all mortgages
and charges as per last Annual Return dated 01-03-2014)
Smart Time Ltd. was incorporated on 18th February, 2004 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 Hong Kong-registered company located at Room 8A, 8/F., Mita Centre, 552-566 Castle Peak Road, Kwai Chung, New Territories, Hong Kong known as BEL International Logistics Ltd. [BEL] which is handling its correspondences and documents.
BEL is a logistic service provider and a forwarding agent. It is also a mobile phone and mobile phone accessories trader.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued 10 ordinary shares of HK$1.00 each which are wholly-owned by Emerald Gold Ltd. [Emerald] which is a BVI-registered company. Emerald is also director of the subject.
The subject’s lines of business are unknown since BEL declined to disclose any information of the subject.
The director and shareholder of the subject cannot be reached as both are the same company Emerald. Your given phone number 9867617709 is not a Hong Kong line. We also do not know which country it belongs to.
The background of the subject is unknown to us.
The subject’s business in Hong Kong is not active. History in Hong Kong is over ten years and eight months.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
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|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SNT |
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 |
-- |
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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.