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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MAX CORPORATE LTD. |
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Registered Office : |
Room *, Block **, 7 /F Caribbean Coast Crystal, 1 Kin Tung Road Tung Chung |
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Country : |
Hong Kong |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
36879124 |
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Legal Form : |
Not Available |
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Line of 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 : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 : |
Undetermined |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
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 |
MAX
CORPORATE LTD.
Room 1104,
Crawford House, 70 Queen’s Road Central, Hong Kong.
1. As
per Companies Registry, the name of “Max Corporate Ltd. Technologies” cannot be
found in their record. There are 3
similar company names registered and headed with “Max Corp……” or “Maxcorp …..”
with details as follow:-
1)
Name: Max Corporation Ltd.
Business
Registration Number: 36879124
Registered
Office: Room *, Block **, 7 /F Caribbean
Coast Crystal, 1 Kin Tung Road Tung Chung, Hong Kong.
2)
Name: Maxcorp Ltd.
Business
Registration Number: 50544292
Registered
Office: Room *, **/F., Southern
Building, 257‑273 King’s Road, North Point, Hong Kong.
3)
Name: Maxcorp Ltd.
Business
Registration Number: 35591604
Registered
Office: Room ****-**, **/F., Alexandra
House, 18 Chater Road, Central, Hong Kong.
However,
the registered office of the above-mentioned 3 companies are not matched with
your given address.
2. According
to Business Registration Office, the name of “Max Corporate Ltd.” is not found
in the database.
3. Our
on-site investigator reported that your given address Room 1104, Crawford
House, 70 Queen’s Road Central, Hong Kong is occupied by a business centre
known as “Jumpstart Business Centre” with telephone number: 852-2961 4888.
4.
Jumpstart
Business Centre [JBC] is one of the leading business centres in Hong Kong. It provides various kinds of secretarial
services and business back-end support such as serviced office, virtual office,
license to publish selected office address, private phone or fax number,
voicemail, fax-to-email, answer calls, redirect calls, special functions to let
callers reach customers during after office hours, mail handling with
notification, and etc. Its customers
include many international Small to Medium enterprises and startups
companies. JBC now maintains 5 business
centres in Hong Kong serving over 5,000 customers.
5. A staff from JBC informed us that “Max
Corporate Ltd.” is listed as one of their customers. They only provided correspondence service and
virtual office service to the subject.
However, she refused to disclose any further information about the
subject due to customer’s privacy.
6. “Max
Corporate Ltd.” is believed to be an offshore company to carry on international
trading via the office address of JBC.
7. The
name of “Max Corporate Ltd.” is not listed in any available telephone and
commercial directories and also is unknown to other sources consulted in Hong
Kong.
8. No
legal actions were traced against “Max Corporate Ltd.” during the course of
this investigation.
In view of the lack of information, we have
no basis upon which to recommend credit ratings.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.22 |
|
|
1 |
Rs.98.52 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
-- |
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.