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Report No. : |
315175 |
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Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
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Name : |
WORLD HUB COMMUNICATIONS LTD. |
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Registered Office : |
C/o Globe Secretaries Ltd., Room 403, 4/F., Bonham Trade Centre, 50 Bonham Strand, Sheung Wan |
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Country : |
Hongkong |
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Date of Incorporation : |
20.06.2011 |
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Com. Reg. No.: |
58539750 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Carrier wholesaler and operator of Telecommunication Products,
Electronic Products. |
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No. of Employees : |
No employees in Hong Kong. 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. |
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 Hongkong |
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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
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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.
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Source
: CIA |
WORLD HUB
COMMUNICATIONS LTD.
ADDRESS: C/o
Globe Secretaries Ltd.
Room 403,
4/F., Bonham Trade Centre, 50 Bonham Strand, Sheung Wan,
Hong Kong.
PHONE: 852-2854
2460, 3723 0606
FAX: 852-2541
6840
E-MAIL: enquiry@worldhubcom.com
Managing Director:
Mr. Lim Chu Kiat
Incorporated on: 20th June, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$4,000,000.00
Business Category: Carrier
wholesaler and operator.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Globe Secretaries Ltd.
Room 403, 4/F., Bonham Trade Centre, 50 Bonham Strand,
Sheung Wan, Hong Kong.
Holding Company:-
World Hub Communications Ltd., British Virgin Islands.
Associated Company:-
World Hub Communications (M) Sdn Bhd, Malaysia.
58539750
1619034
Managing Director:
Mr. Lim Chu Kiat
HK$4,000,000.00
(As per registry dated
09-10-2014)
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Name |
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No. of shares |
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World Hub
Communications Ltd. P.O. Box 957,
Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. |
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4,000,000 ======= |
(As per registry
dated 09-10-2014)
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Name (Nationality) |
Address |
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WONG Tze Leng |
117 Lorong Setia
Bestari 1, Bukit Damansara, 50400 Kuala Lumpur, W P Kuala Lumpur, Malaysia. |
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LIM Chu Kiat |
No. 7, Jalan BP
11/4, Bandar Bukit Puchong 2, 47100 Bandar Puchong, Selangor Darul Ehsan,
Malaysia. |
(As per registry
dated 20-06-2014)
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Name |
Address |
Co. No. |
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Globe Secretaries
Ltd. |
Room 403, 4/F.,
Bonham Trade Centre, 50 Bonham Strand, Sheung Wan, Hong Kong. |
0410251 |
The subject was incorporated
on 20th June, 2011 as a private limited liability company under the Hong Kong
Companies Ordinance.
Formerly the
subject’s registered address was located at Room 706, 7/F., New Victory House,
93-103 Wing Lok Street, Sheung Wan, Hong Kong, moved to the present address
with effect from 22nd February, 2013.
The subject commercial service provider has moved to a new address, so
did the subject.
The subject has
increased its ordinary share to 4 million since 2014.
Apart from these, neither material change nor amendment
has been ever traced and noted.
Activities: Carrier
wholesaler and operator.
Lines: Telecommunication
products, electronic products
Employees: Nil.
Commodities Imported: Europe,
etc.
Business Territories:
Asian countries, Europe, etc.
Terms/Sales/Services:
As per contracted.
Terms/Buying: Various terms.
Issued Share Capital: HK$4,000,000.00
Mrotgage or charge:-
Date: 04-07-2014
Description of
Instrument: Charge Over Accounts
& Deposits
Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
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 4 million
ordinary shares of HK$1.00 each, World Hub Communications Ltd. is wholly owned
by World Hub Communications Ltd. which is a BVI-registered firm. It has had an associated company World Hub
Communications (M) Sdn Bhd [World Hub] which is a Malaysia-based firm.
The subject does not
have its own operating office. Its
registered office is in a commercial service firm located at “Room 403, 4/F.,
Bonham Trade Centre, 50 Bonham Strand, Sheung Wan, Hong Kong” known as
“Globe Secretaries Ltd.” [GSL] which is handling its correspondences and
documents. This firm is also the
corporate secretary of the subject. Your
given phone number 852-3723 0606 belongs to GSL. However, this phone number has been specially
assigned for the subject.
The subject has no
employees in Hong Kong.
The new director of
the subject Mr. Wong Tze Leng is a Malaysia merchant. He is a Malaysia passport holder and does not
have the right to reside in Hong Kong permanently. He was appointed on 9th October, 2014.
World Hub is an international
carrier wholesale operator with customers all across the globe, ranging from
Telco, major carriers, service providers, calling card operators, resellers and
ISP’s to terminate international calls without any substantial capital on their
existing network infrastructure via VoIP technology.
With partners and
associates all across the globe, World Hub offers long distance, IP Voice, data
and network services for carriers, data service providers, CLECs (competitive
local exchange carriers), resellers, ISPs (internet service providers) and
businesses.
World Hub has
continuously over the years expanded its business coverage by expanding in both
local and international network infrastructure, and establishing partnerships
with global incumbents and major carriers.
World Hub’s network provides high call quality voice, quick
interconnection time, and termination into any countries in the world.
World Hub next
generation network covers all corners of the globe. In addition, World Hub’s services allows flexibility
in inter-connectivity with both traditional Telco and VoIP service
providers. Most notable, World Hub’s
network is interoperable with VoIP equipment from leading vendors such as
Cisco, Clarent, Lucent and Quintum.
Since 2003, World Hub
has had over 150 interconnected partners worldwide. It terminates calls into International
Gateway Carriers, local PSTN, and GSM networks.
It supports both traditional TDM (SS7 and PRI) and packet based (ITU
H.323 and SIP) interconnects.
World Hub’s list of
reliable destinations is getting longer by the day – its strong routes, among
others, are Malaysia, Bangladesh, Pakistan, India, Nepal, Indonesia, Vietnam,
Kuwait, New Zealand, Myanmar, Nigeria, Taiwan, China, the United Kingdom,
Australia, East Timor, and many more.
World Hub’s
operational offices are in Malaysia and Tianjin of China.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over three years and nine months. It has been banking with The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.26 |
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1 |
Rs.92.49 |
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Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
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Analysis Done by
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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.