MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
LOVISM HONG KONG LTD. |
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Registered Office : |
c/o Gurung & Shum Business Solutions Ltd. Unit 406B, 4/F, |
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Country : |
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Date of Incorporation : |
29.11.2013 |
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Com. Reg. No.: |
62414225 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [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 employees in It is to be noted that
the company does not have its own operating office in |
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
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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 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
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Source
: CIA |
Company name
LOVISM HONG KONG LTD.
ADDRESS
Registered Office:-
c/o Gurung & Shum Business Solutions Ltd.
Unit 406B, 4/F, Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.
[Tel: 852-3749 9221; Fax: 852-3747 5784]
BUSINESS REGISTRATION NUMBER
62414225
COMPANY FILE NUMBER
2004286
DATE OF INCORPORATION
29th November, 2013.
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
SHAREHOLDER: (As per registry dated 29-11-2013)
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Name |
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No. of share |
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Bhakta Kumar RAI |
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1 = |
DIRECTOR: (As per registry dated 29-11-2013)
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Name (Nationality) |
Address |
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Bhakta Kumar RAI |
Flat 9, 1/F., Man Yuen Building, 8-16 Man Wai Street, Ferry Point, Jordan, Kowloon, Hong Kong. |
SECRETARY: (As per registry dated 29-11-2013)
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Name |
Address |
Co. No. |
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Gurung & Shum Business Solutions Ltd. |
Room 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. |
1348317 |
GENERAL
Lovism Hong Kong Ltd. was incorporated on 29th November, 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 406B, 4/F., Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong known as Gurung & Shum Business Solutions Ltd. which is handling its correspondences and documents. Gurung & Shum Business Solutions Ltd. is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has just issued one ordinary share of HK$1.00 which is owned by Mr. Bhakta Kumar Rai. He is a Canada passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject
The subject’s lines of business are unknown since the secretarial firm knows nothing about its business.
The director of the subject cannot be reached. The operating address of the subject may be in the residential address of Bhakta Kumar RAI in Hong Kong. However, the residential building is not trespassed by outsiders.
No information of the subject can be obtained from our secondary sources.
The subject’s business in Hong Kong is not active. History in Hong Kong is over nine months.
Since the subject does not have its own operating office and
has no employees in
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
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.19 |
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1 |
Rs.98.65 |
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Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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.