MIRA INFORM REPORT

Report No. :	316530
Report Date :	14.04.2015

IDENTIFICATION DETAILS

Name :	TELECOM LINK LIMITED

Registered Office :	Unit T 1/F Mau Lam Comm. Bldg, 16-18 Mau Lam St, Jordan Kln

Country :	Hongkong

Date of Incorporation :	16.07.2010

Com. Reg. No.:	52670843

Legal Form :	Private Limited Liability Company

Line of Business :	Not Available (Note: We tried to confirm obtain the details activity but the same is not available from any source.)

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Offshore Company

Payment Behaviour :	Unknown

Litigation :	Exist

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)

Hongkong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.

Source : CIA

Contact Points

Company Name (in English):	Telecom Link Limited
Supplied Name:	Telecome Link Limited
Supplied Address:	Unit 1 st Floor Mau Lam Commercial Building 16-18 Mau Lam Street Jordain Hong Kong

Credit Summary

Credit Opinion:

Since we consider subject as an offshore company, thus we did not give credit rating at present.

Special Notes

We made an on-site visit to the supplied address, and found that subject is not locating at this address, the company at this location is a company which is mainly engaged providing registration and accounting services. We tried to get information from the relevant staff, however, she refused to disclose any information for us.

We can not find any operation information of subject through public files, and subject’s registered address is that of subject’s secretary corporate, based on subject’s registered files and our investigation, we consider subject as an offshore company.

We found subject’s registered files from local registry, supplying as following for reference.

Company Identification Details

Registered Name:	Telecom Link Limited
Registered Address:	Unit T 1/F Mau Lam Comm. Bldg, 16-18 Mau Lam St, Jordan Kln Hong Kong
Date of Registration:	2010-7-16
Registered Number:	1481393
Business Registration No.:	52670843
Paid-up Capital:	HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1
Legal Form:	Private Limited Liability Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2014-7-16

History

Subject was incorporated on 2010-7-16 with the registered number 1481393 as Private Limited Liability Company in Hong Kong.

Shareholders

Name	Subscription Shares	Proportion of Investment (%)
Ahuja Kishor	10,000	100%
Total	10,000	100%

Major Shareholder Information:

Name:	Ahuja Kishor
Address:	S-1/174-Sec-1 Old Mahavavir Nagar Tilak Nagar Delhi-110018 India

Management Information

Core Management

Detailed Information of Directors:

1
Name:	Ahuja Kishor
Address:	S-1/174-Sec-1 Old Mahavavir Nagar Tilak Nagar Delhi-110018 India
Position:	Director
Passport Number:	J0950688
Issuing Country:	India
2
Name:	Buttar Secretarial Limited
Address:	Unit 13, 16/F, Asia Trade Centre, No. 79 Lei Muk Road, Kwai Chung, N. T., China
Position:	Corporate Secretary
Registered Number:	2086550
Date of Appointment:	2014-7-12

Former Directors:

Name:	Buttar. HK Limited
Position:	Corporate Secretary
Date of Resignation:	2014-7-12

Operation Information

Subject does not have business entity in Hong Kong.

Financial Information

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.

Subject does not have business entity in Hong Kong, thus we can not obtain the relevant information.

Public

Civil Litigation

Date:	2013-10-19
Court Name:	District Court Civil Action
Court No.:	2533
Claimant:	Commissioner of Inland Revenue
Defendant:	Telecom Link Ltd c/o Unit T, 1/F, Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kln
Reason:	TAX
Amount(HKD):	36,006

Mortgage Record

No mortgage of subject were found.

Attachment

Unit 1 st Floor Mau Lam Commercial Building 16-18 Mau Lam Street Jordain Hong Kong

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.37
UK Pound	1	Rs.91.60
Euro	1	Rs.66.49

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIT

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%)

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