MIRA INFORM REPORT
|
Report Date : |
13.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
VALDA MICRO ELECTRONICS LIMITED |
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Registered Office : |
13F, Wah Kit Commercial Centre, 300 Des
Voeux Rd. Central |
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Country : |
Hongkong |
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Date of Incorporation : |
25.03.2013 |
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Com. Reg. No.: |
1880749 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available (NOTE: We tried to confirm obtain the details activity but the same is not available from any source.) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Offshore Company |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
HONGKONG - 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 |
Company
Name
|
Company Name: |
Valda Micro
Electronics Limited |
|
Supplied Name: |
VALDA MICRO
ELECTRONICS |
|
Supplied Address: |
13/F, Wah Kit
Comm CTR 300, Des Voeux Road Central |
Note: The exact
name is as above.
Special
Note
We visited the supplied address, which is also subject’s registered address,
but did not find the subject on it. We found an accounting firm (C.K. Liu &
Company) locating on the supplied address, but the relevant staff declined to
disclose any information.
According to the supplied name, we cannot obtain any operation or contact
information of the subject from public files.
Based on subject’s registered files and our investigation, we consider
subject as an offshore company.
We found subject’s registered files from local registry, supplying as
following for reference.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
13F, Wah Kit Commercial Centre, 300 Des
Voeux Rd. Central, Hong Kong |
|
Date of Registration: |
2013-3-25 |
|
Registered Number: |
1880749 |
|
Business Registration No.: |
61168837 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.11, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 1.00 (USD 0.129) = 1 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-3-25 |
History
Subject was incorporated on 2013-3-25 with the registered number 1880749
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or
branches, from other source we can not obtain the relevant information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Babulal Shri Shri Mal |
1.00 |
100% |
|
Total |
1.00 |
100% |
Major Shareholder Information:
|
Name: |
Babulal Shri Shri Mal |
|
Address: |
B-701, Pratiksha Tower, RS Nimkar Marg Mumbai-400 008, Maharashtra,
India |
Management
Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Babulal Shri Shri Mal |
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Address: |
B-701, Pratiksha Tower, RS Nimkar Marg Mumbai-400 008, Maharashtra,
India |
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Position: |
Director |
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Passport Number: |
F4752937 |
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Issuing Country: |
Republic of India |
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2 |
|
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Name: |
Lodestar Secretaries Limited |
|
Address: |
13F, Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
113023 |
Operation
Information
Offices & Factories
Subject does not have business entity in Hong Kong.
Financial
Information
The subject has no obligation to supply its
financial statement to the third party according to the relevant policy in Hong
Kong and the only source from which we can obtain the information is the
subject itself.
Subject does not have business entity in Hong Kong, thus we cannot obtain
the relevant information.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Industry
Information
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change
of Total exports |
Merchandise
trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports
figures have been rounded to the nearest final digit after summing up the
constituent trade figures.
Attachment
Address: 13F, Wah Kit Commercial Centre, 300 Des Voeux
Rd. Central, Hong Kong
Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong
13F, Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.48 |
|
|
1 |
Rs.97.92 |
|
Euro |
1 |
Rs.76.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
|
|
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 |
|
|
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.