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Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
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Name : |
NEW ALLIANCE INTERNATIONAL LTD. |
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Registered Office : |
C/o RJA Management Ltd., Unit A & B,
2/F., |
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Country : |
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Date of Incorporation : |
25.02.2010 |
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Com. Reg. No.: |
52367969 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is trading in all kinds of organic chemicals |
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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 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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
|
Source
: CIA |
NEW
ALLIANCE INTERNATIONAL LTD.
Registered
Office:-
c/o RJA Management Ltd.
Unit A & B, 2/F., Lee Kee Commercial
Building, 221-227 Queen’s Road Central, Hong Kong.
[Tel: 852-2544 4068, Fax: 852-2544 5568]
Holding
Company:-
Godip Organic Chemicals Pvt. Ltd.,
52367969
1424625
25th February, 2010.
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 25-02-2014)
|
Name |
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No. of shares |
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Snehal Champaklal SHAH |
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1 |
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Godip Organic Chemicals Pvt. Ltd. A 702, Anupam Chs, RSC22, Plot No. 25,
Sector 8, Charkop, Kandivili West, Mumbai 400067, India. |
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6,666 |
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Adval Chemicals Pvt. Ltd. 504, West View Heights, 220 Sir
Bhalchandra Road, Matunga, Mumbai 400019, India. |
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3,333 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 25-02-2014)
|
Name |
Address |
Co.
No. |
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Trade Professionals Ltd. |
Flat B, 7/F., Yardley Commercial Building,
3 Connaught Road West, Sheung Wan, Hong Kong. |
0709399 |
(As per registry dated 25-02-2014)
|
Name |
Address |
Co.
No. |
|
RJA Management Ltd. |
Unit A & B, 2/F., Lee Kee Commercial
Building, 221-227 Queen’s Road Central, Hong Kong. |
1044456 |
New Alliance International Ltd. was incorporated
on 25th February, 2010 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 Unit A & B, 2/F., Lee Kee Commercial
Building, 221-227 Queen’s Road Central, Hong Kong known as RJA Management Ltd.
[RJA] which is handling its correspondences and documents. RJA is also the corporate secretary of the
subject. Its phone and fax number are
852-2544 4068 and are 852-2544 5568.
Formerly the subject’s registered office was
located at Suite 601, 6/F., Hong Kong & Macau Building, 156-157
Connaught Road Central, Hong Kong where was the address of the operating
office of a secretarial firm known as Ready-Made Secretaries Ltd. The subject’s registered address changed to
the present one as the subject has changed its secretarial firm since 31st May,
2010.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which 66.7%
are held by Godip Organic Chemicals Pvt. Ltd. [Godip] and 33.3% held by Adval
Chemicals Pvt. Ltd. [Adval]. Both are
India-based firms.
Formerly the holding company of the subject was
Ready-Made Incorporations Ltd. which was a BVI-registered firm.
The director of the subject Trade
Professionals Ltd. [TPL] is a Hong Kong‑based and registered
firm. TPL is located at a different
address.
TPL is an associated company of Willis Cheng
& Co. which is an accounting firm.
The subject is trading in all kinds of
organic chemicals which are sourced from Europe and some of the Asian
countries. Products are marketed in
Asia. Godip is trading in the following
products:
Fungicides;
Herbicides;
Insecticides; &
Public Health Products.
Godip is engaged in sourcing chemicals,
intermediates and agrochemical products from India and China.
However, according to the documents of
Foreign Exchange Department Central Office of Overseas Investment Division,
Indian Government, the subject is also engaged in the business of Finance,
Insurance and Real Estate.
It is likely that the India firms, Godip and
Adval, are doing business with foreign parties under the name of the subject
and let foreign firms correspond with the subject’s registered address in Hong
Kong.
The contact person of the subject Snehal
Champaklal Shah is a minor shareholder of the subject. He was also the old director of the subject.
The subject’s history in Hong Kong is just
over four years.
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.60.84 |
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UK Pound |
1 |
Rs.98.73 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
NIT |
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.