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Report No. : |
314644 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
VEGA STAR (HK) LTD. |
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Registered Office : |
Room 502, 5/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
16.06.2014 |
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Com. Reg. No.: |
63467431 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS. |
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No. of Employees : |
3 |
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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hongkong |
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 |
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 |
VEGA STAR
(HK) LTD.
ADDRESS: Room
502, 5/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui,
Kowloon,
Hong Kong.
PHONE: 852-5339 7512
E-MAIL: vegastarhk@gmail.com
Managing Director:
Mr. Ahad Khalid
Incorporated on: 16th June, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$200,000.00
Business Category: Diamond
Trader.
Employees: 3.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 502, 5/F., Lee Wai Commercial Building, 1-3 Hart
Avenue, Tsimshatsui, Kowloon, Hong Kong.
63467431
2109181
Managing Director:
Mr. Ahad Khalid
HK$200,000.00
(As per registry
dated 16-06-2014)
|
Name |
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No. of shares |
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Shah Rachit Dhirajbhai |
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100,000 |
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Pethani Chhagan Kumar Manilal |
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100,000 |
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––––––– |
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Total: |
200,000 ====== |
(As per registry dated
07-11-2014)
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Name (Nationality) |
Address |
|
Ahad KHALID |
16B, 2nd South Street Main, Sunset Bulaward Phase 2,
Deffence, Karachi, Pakistan. |
(As per registry
dated 16-06-2014)
|
Name |
Address |
|
Chandan Bhagwandas DATWANI |
Lot #351, 2/F., Ma Wan Village, Ma Wan, New
Territories, Hong Kong. |
The subject was
incorporated on 16th June, 2014 as a private limited liability company under
the Hong Kong Companies Ordinance.
Apart from these, neither
material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds
Employees: 3.
Commodities Imported: Europe,
North America, etc.
Markets: Hong
Kong, India, other Asian countries, Europe, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$200,000.00
Profit or Loss: Too
early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
Having issued 200,000
ordinary shares of HK$1.00 each, Vega Star (HK) Ltd. is equally owned by Mr.
Shah Rachit Dhirajbhai and Mr. Pethani Chhagan Kumar Manilal. The director of the subject Mr. Ahad Khalid
is a Pakistan merchant.
He is a Hong Kong ID
holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
Khalid has been in
Hong Kong for a very long time as he has got his Hong Kong ID before
setting up the subject.
We can reach Khalid
at his Hong Kong mobile phone number 852-5339 7512.
The subject is a
diamond importer, exporter and wholesaler.
It is trading in loose, polished and cut diamonds. Most of the commodities are imported from
India, Europe, North America, etc. The
subject is also a jewellery trader.
Prime markets are
Hong Kong, India, Pakistan, the other Asian countries, Europe. Business is still under development.
The subject’s
business is chiefly handled by Ahad Khalid.
History in Hong Kong is over nine months.
On the whole, since
the history of the subject is short, consider it good for normal business
engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.