MIRA INFORM REPORT
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Report No. : |
316861 |
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Report Date : |
16.04.2015 |
IDENTIFICATION DETAILS
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Name : |
TOP GLORY ASIA LIMITED |
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Registered Office : |
Room 1901, CC Wu Building, 302 Hennessy
Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.03.2009 |
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Com. Reg. No.: |
1320952 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [Note: We tried to confirm /
obtain the detailed activity but the same is not available from any sources] |
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No. of Employee : |
Not Available 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 |
|
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 |
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Status : |
Offshore 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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 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): |
TOP GLORY ASIA
LIMITED |
|
Supplied Name: |
Top Glory Asia Limited |
|
Supplied Address: |
Room 1901 CC Wu Building 302 Hennessy Road Wanchai |
Special
Notes
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
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Registered Name: |
|
|
Registered Address: |
Room 1901, CC Wu
Building, 302 Hennessy Road, Wanchai, Hong Kong |
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Date of Registration: |
2009-3-20 |
|
Registered Number: |
1320952 |
|
Business Registration No.: |
50769925 |
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Paid-up Capital: |
HKD 1 (USD 0.129) = 1 Shares@ HKD 1 (As of 2015.04, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-3-20 |
History
Subject was incorporated on 2009-3-20 with the
registered number 1320952 as Private Limited Liability Company in Hong Kong.
Transfer of Shares:
|
2013-11-21 |
||
|
Transferred From |
No. of Shares Transferred |
Transferred To |
|
Lee Ypung Chul |
1 |
Kim Dae Hun |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Kim Dae Hun |
1 |
100% |
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Total |
1 |
100% |
Major Shareholder Information:
|
Name: |
Kim Dae Hun |
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Address: |
20-4 Gonghwabuk 1 Gil, Yeosu-Si, Jeollanam-Do,
Korea |
Former Shareholders Information:
|
Name: |
Kim Dae Hun |
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Address: |
Room 2201, No.11. Lane 600, Golden City
Road, Hong Qiao, Shanghai, China |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
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Name: |
Kim Dae Hun |
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Address: |
20-4 Gonghwabuk 1 Gil, Yeosu-Si,
Jeollanam-Do, Korea |
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Position: |
Director |
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Passport Number: |
M32478430 |
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Issuing Country: |
Korea |
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2 |
|
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Name: |
Fankent Secretaries Limited |
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Address: |
Room 1901, CC Wu Building, 302 Hennessy
Road, Wanchai, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
234450 |
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
Mortgage Record
No mortgage of subject were found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.92.15 |
|
Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.