MIRA INFORM REPORT
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Report No. : |
317934 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
VALDA MICRO ELECTRONICS LIMITED |
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|
|
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Registered Office : |
13F, Wah Kit Commercial Centre, 300 Des
Voeux Rd. Central |
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Country : |
Hongkong |
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Date of Incorporation : |
25.03.2013 |
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Com. Reg. No.: |
1880749 |
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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 details activity but the same is not available from any source.) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
Company
Name
|
Company Name: |
Valda Micro
Electronics Limited |
|
Supplied Name: |
VALDA MICRO
ELECTRONICS |
|
Supplied Address: |
13/F, Wah Kit
Comm CTR 300, Des Voeux Road Central |
Note: The exact
name is as above.
Special
Note
We visited the supplied address, which is also subject’s registered
address, but did not find the subject on it. We found an accounting firm (C.K.
Liu & Company) locating on the supplied address, but the relevant staff
declined to disclose any information.
According to the supplied name, we cannot obtain any operation or contact
information of the subject from public files.
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: |
|
|
Registered Address: |
13F, Wah Kit Commercial Centre, 300 Des
Voeux Rd. Central, Hong Kong |
|
Date of Registration: |
2013-3-25 |
|
Registered Number: |
1880749 |
|
Business Registration No.: |
61168837 |
|
Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.11, 1 HKD = 0.129 USD) |
|
Paid-up Capital: |
HKD 1.00 (USD 0.129) = 1 Shares@ HKD 1 |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-3-25 |
History
Subject was incorporated on 2013-3-25 with the registered number 1880749
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not register any subsidiaries or
branches, from other source we can not obtain the relevant information, either.
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Babulal Shri Shri Mal |
1.00 |
100% |
|
Total |
1.00 |
100% |
Major Shareholder Information:
|
Name: |
Babulal Shri Shri Mal |
|
Address: |
B-701, Pratiksha Tower, RS Nimkar Marg Mumbai-400 008, Maharashtra,
India |
Management
Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Babulal Shri Shri Mal |
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Address: |
B-701, Pratiksha Tower, RS Nimkar Marg Mumbai-400 008, Maharashtra,
India |
|
Position: |
Director |
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Passport Number: |
F4752937 |
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Issuing Country: |
Republic of India |
|
2 |
|
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Name: |
Lodestar Secretaries Limited |
|
Address: |
13F, Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong |
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Position: |
Corporate Secretary |
|
Registered Number: |
113023 |
Operation
Information
Offices & Factories
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 cannot obtain
the relevant information.
Public
Mortgage Record
No mortgage record of subject was 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 |
|
High Court Companies Winding-Up: |
Clear |
Industry
Information
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year %
change of Total exports |
Merchandise
trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures
have been rounded to the nearest final digit after summing up the constituent
trade figures.
Attachment
Address: 13F, Wah Kit Commercial Centre, 300 Des Voeux
Rd. Central, Hong Kong
Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong
13F, Wah Kit Commercial Centre, 300 Des Voeux Rd. Central, Hong Kong
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
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
-- |
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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.