|
Report No. : |
317273 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINAMARKET INDUSTRY CO., LIMITED |
|
|
|
|
Registered Office : |
Flat/Rm A1, 9/F Silvercorp International Tower, 707-713 Nathan Road, Mongkok, Kowloon |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
22.10.2008 |
|
|
|
|
Com. Reg. No.: |
1281350 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
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 |
|
Status : |
Offshore Company |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
|
Company Name (in Chinese): |
|
|
Company Name (in English): |
CHINAMARKET INDUSTRY CO., LIMITED |
|
Supplied Name: |
CHINA MARKET INDUSTRY CO LIMITED |
|
Supplied Address: |
M 907 WING TUCK COMMERCIAL CENTRE, NO 177-183 WING LOK STREET HONGKONG |
Based on the supplied address, we found a
telephone number +852-2973-8322. We tried to contact with the subject through
the number, the relevant staff who answered the phone introduced that her
company named “World Trade Enterprises Consultancy” which is mainly engaged in
providing the registration and accounting services, the supplied address
belongs to her company, however, she refused to introduce further 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.
|
Registered Name: |
|
|
Registered Address: |
Flat/Rm A1, 9/F
Silvercorp International Tower, 707-713 Nathan Road, Mongkok, Kowloon, Hong
Kong |
|
Date of Registration: |
2008-10-22 |
|
Registered Number: |
1281350 |
|
Business Registration No.: |
39921613 |
|
Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.04, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-22 |
Subject was incorporated on 2008-10-22 with
the registered number 1281350 as Private Limited Liability Company in Hong
Kong.
Change of Name:
|
Date |
Change |
|
2014-9-3 |
Chinamarket Industry Co., Limited |
|
香港祥隆實業有限公司 |
|
|
2008-10-22 |
System Engineers Group Hongkong Company
Limited |
|
香港祥隆實業有限公司 |
Transfer of Shares:
|
2014-8-28 |
||
|
Transferred From |
No. of Shares Transferred |
Transferred To |
|
Suresh Kumar |
5,000 |
Xu Yanli |
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Xu Yanli |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder Information:
|
Name: |
Xu Yanli |
|
Address: |
Room 907, JSH360, 177-183 Wing Lok Street,
Hong Kong |
Former Shareholders Information:
|
1 |
|
|
Name: |
Suresh Kumar |
|
Address: |
Room 907, JSH360, 177-183 Wing Lok Street,
Hong Kong |
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Xu Yanli |
|
Address: |
Room 907, JSH360, 177-183 Wing Lok Street,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
320203197110300626 |
|
2 |
|
|
Name: |
Fs Account Limited |
|
Address: |
Flat/Rm A1, 9/F Silvercorp International
Tower, 707-713 Nathan Road, Mongkok, Kowloon, Hong Kong |
|
Position: |
Corporate Secretary |
|
Registered Number: |
1268512 |
Subject does not have business entity in Hong
Kong.
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.
Mortgage Record
No mortgage of subject were found.
Up to now, no present or latent litigation of
the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.