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Report No. : |
318352 |
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Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SPRING BRIGHT LTD. |
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Registered Office : |
C/o Prime Star (HK) Ltd., Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
12.08.2010 |
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Com. Reg. No.: |
53339434 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
THE
SUBJECT IS TRADING IN PCBS (PRINTED CIRCUIT BOARDS) |
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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 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 |
SPRING
BRIGHT LTD.
Registered Office:-
C/o Prime Star (HK) Ltd.
Unit 71, 2/F., Mirador Mansion, 54-64 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong.
Associated Company:-
Honchi Technologies Co., Hong Kong. (Same address)
53339434
1492411
12th August, 2010.
HK$10,000.00
(As per registry
dated 12-08-2014)
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Name |
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No. of shares |
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Rajeev BAKSHI |
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10,000 ===== |
(As per registry
dated 12-08-2014)
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Name (Nationality) |
Address |
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Rajeev BAKSHI |
H. No. C-174, Hari Nagar, New Delhi-110064, India. |
(As per registry
dated 12-08-2014)
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Name |
Address |
Co. No. |
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Prime Star (HK) Ltd. |
Unit 71, 2/F., Mirador Mansion, 58 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong. |
1232627 |
Spring Bright Ltd. was incorporated on 12th August, 2010
as a private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Shop 71, 2/F., Mirador Mansion, 54‑64 Nathan
Road, Tsimshatsui, Kowloon, Hong Kong” known as Prime Star (HK) Ltd. which is
handling its correspondences and documents.
This company is also the company secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the
subject has issued 10,000 ordinary shares of HK$1.00 each which are
wholly-owned by Mr. Rajeev Bakshi who is an India merchant.
He is a Hong Kong ID holder and has got the right to
reside in Hong Kong permanently. He is
also the only director of the subject.
His registered address is in New Delhi, India.
The subject has had an associated company Honchi
Technologies Co. [Honchi] which is also located at the same address. Honchi is also owned and operated by Rajeev
Bakshi.
The subject and Honchi are engaged in the same lines of
business. Honchi is a sole
proprietorship set up and owned by Mr. Rajeev Bakshi.
The subject is trading in PCBs (printed circuit boards). Most of the commodities are sourced from
China, especially form Shenzhen Special Economic Zone, China. Most of the PCBs are exported to India.
The subject has been banking with The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
The business of the subject is chiefly handled by Bakshi
himself. Most of the time he is in
Shenzhen Special Economic Zone, China for acquiring products from China
suppliers. He can be reached at his
China mobile phone number 86-1326 6691 545.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over four years
and eight months.
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 for the time being.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
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|
1 |
Rs.93.85 |
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Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.