MIRA INFORM REPORT
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Report No. : |
318144 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA MERCHANT (ASIA) LIMITED |
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Registered Office : |
Unit C, 1/F Mau Lam Comm. Bldg, 16-18 Mau
Lam St, Jordan Kln |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.04.2008 |
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Com. Reg. No.: |
1221536 |
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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 |
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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 : |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Hong Kong |
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 |
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.
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Source
: CIA |
Contact
Points
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Company Name (in English): |
CHINA MERCHANT
(ASIA) LIMITED |
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Supplied Name: |
CHINA MERCHANT ASIA LTD |
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Supplied Address: |
BLOCK B1/F MAU LAM COMMERCIAL BUILDING 16-18 MAU LAM STREET JORDON
KOWLOON HONG KONG |
Special
Notes
We made an on-site to the supplied address,
and we didn’t found the subject locating at this address. The company who is
locating at the supplied address is mainly engaged in providing the
registration and accounting services. The relevant staff at this location
introduced the subject is a customer of this 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.
Company
Identification Details
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Registered Name: |
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Registered Address: |
Unit C, 1/F Mau
Lam Comm. Bldg, 16-18 Mau Lam St, Jordan Kln Hong Kong |
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Date of Registration: |
2008-4-1 |
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Registered Number: |
1221536 |
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Business Registration No.: |
39171751 |
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Paid-up Capital: |
HKD 1,000,000 (USD 129,000) = 1,000,000
Shares@ HKD 1 (As of 2015.04, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2015-4-1 |
History
Subject was incorporated on 2008-4-1 with the
registered number 1221536 as Private Limited Liability Company in Hong Kong.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Jian Akshaya |
1,000,000 |
100% |
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Total |
1,000,000 |
100% |
Major Shareholder Information:
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Name: |
Jian Akshaya |
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Address: |
Flat C, 15/F, Hong Kong Garden, The Top Palage
(Blk 21), 100 Castle Peak Road, Tsing Lung Tau, Nt, Hong Kong |
Management
Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Jian Akshaya |
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Address: |
Flat C, 15/F, Hong Kong Garden, The Top Palage
(Blk 21), 100 Castle Peak Road, Tsing Lung Tau, Nt, Hong Kong |
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Position: |
Director |
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ID Number: |
M008501(A) |
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2 |
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Name: |
Butttar Secretarial Limited |
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Address: |
Unit 13, 16/F, Asia Trade Centre, No.N 79 Lei
Muk Road, Kwai Chung N.T Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
2086550 |
Former Directors:
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Name: |
Butttar Hk Limited |
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Address: |
1/F Mau Lam Comm.Bldg, 16-18 Mau Lam St,
Jordan Kln Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
975326 |
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
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1 |
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Company Name: |
China Merchant (Asia) Limited |
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Instrument of Creating Mortgage: |
LETTER OF SET-OFF & APPROPRIATION |
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Date of Creating Mortgage: |
2012-7-11 |
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Amount Secured: |
To secure “all monies” in respect of banking
facilities owing at any time plus interest and all expenses |
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Name of Mortgagee: |
BANK OF INDIA |
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Address of Mortgagee: |
Suit No. 2004-2005, 20/F.，Golden Business Centre, No. 2028，Shennan Road
East, Shenzhen, PRC |
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Description of Property Mortgaged: |
THE BANK SHALL HAVE THE RIGHT AT ANY TIME
AND WITHOUT PRIOR NOTICE TO THE COMPANY TO SET-OFF ANY CREDIT BALANCES DUE TO
THE COMPANY WHETHER IN THE COMPANY'S CURRENT/SAVINGS ACCOUNT OR IN RESPECT OF
MONEYS KEPT BY THE COMPANY ON TERMS DEPOSIT OR DEPOSITS WITHDRAWABLE AFTER
NOTICE OR ANY OTHER DEPOSIT(S) AT ANY OF THE BANK’S BRANCHES, AGAINST THE
OUTSTANDING DEBIT BALANCES OF THE COMPANY,S LOAN/OVERDRAFT/CASH CREDIT/TRADE
FINANCE FACILITIES OR OTHER ADVANCE ACCOUNT/S WITH THE BANK OR AGAINST ANY
LIABILITY INCURRED OR TO BE INCURRED BY THE COMPANY TO THE BANK WHETHER UNDER
OR IN RESPECT OF GUARANTEES OR BILLS OR OTHERWISE HOWSOEVER AND WHETHER SUCH
LIABILITY BE ACTUAL OR CONTINGENT |
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2 |
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Company Name: |
China Merchant (Asia) Limited |
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Instrument of Creating Mortgage: |
SECURITY OVER DEPOSITS WITH THE BANK (FIXED
DEPOSITS) Limited Company - Under Seal |
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Date of Creating Mortgage: |
2012-4-22 |
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Amount Secured: |
Amount secured - (i) all monies in any currency
owing by the Depositor to the chargee at any time, actually or contingently,
in any capacity, alone or jointly with any other person, (ii) interest on
such monies (both before and after any demand or judgment), to the date on
which the chargee receives payment, at the rates payable by the Depositor or
which would have been payable but for any circumstance which restricts
payment and (iii) all expenses of the chargee in perfecting or enforcing the
charge and recovering any indebtedness of the Depositor. |
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Name of Mortgagee: |
The Hongkong and Shanghai Banking
Corporation Limited |
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Address of Mortgagee: |
No. 1 Queen’s Road Central, Hong Kong |
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Description of Property Mortgaged: |
One or more time deposit(s) of any nature of
duration of the Company with the chargee in the amount of HKD 75,000.-
deposit A/C 127832251 (0001) and includes (i) all monies in any currency now
or at any time after the date of the charge standing to the credit of each of
such deposit(s); (ii) any other deposit(s) or amount(s) resulting or derived
from any division， consolidation，conversion or exchange of each of such deposit(s) from time to time;
(iii) any addition to or renewal, replacement, substitution or re-designation
of each of the deposit(s) or amounts(s) in (i) or (ii) above from time to
time; and (iv) all interest on each of the above deposit(s) oramount(s) from
time to time |
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3 |
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Company Name: |
China Merchant (Asia) Limited |
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Instrument of Creating Mortgage: |
LETTER OF LIEN AND APPROPRIATION |
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Date of Creating Mortgage: |
2009-3-9 |
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Amount Secured: |
ADVANCES AND OTHER FACILITUES GRANTED TO THE
COMPANY FROM TIME TO TIME |
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Name of Mortgagee: |
BANK OF INDIA, SHENZHEN BRANCH |
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Address of Mortgagee: |
Suit No. 2004-2005, 20/F.，Golden Business Centre, No. 2028，Shennan Road
East, Shenzhen, PRC |
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Description of Property Mortgaged: |
Any credit balance in the company's current
/savings Account or in respect of moneys kept on term deposit or deposits
withdrawable after notice or any other deposits. Particulars of existing term deposits /other
deposits: Nature of deposit: Term deposit Date of deposit: 2009-3-6 Amount: USD 73,500.00 Due date: 2010-3-8 Rate of interest: 2.63% |
Lawsuits
Up to now, no present or latent litigation of the
subject has been found.
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High Court Action: |
Clear |
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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 |
Attachment
We made an on-site to the supplied address,
and we didn’t found the subject locating at this address.
Block B 1/F Mau Lam Commercial Building 16-18 Mau Lam Street Jordon
Kowloon Hong Kong
%20LIMITED%20-%20318144.doc%2024-Apr-2015_files/image012.jpg)
Block B 1/F Mau Lam Commercial Building 16-18 Mau Lam Street Jordon
Kowloon Hong Kong
%20LIMITED%20-%20318144.doc%2024-Apr-2015_files/image013.jpg)
Block B 1/F Mau Lam Commercial Building 16-18 Mau Lam Street Jordon
Kowloon Hong Kong
%20LIMITED%20-%20318144.doc%2024-Apr-2015_files/image014.jpg)
Block B 1/F Mau Lam Commercial Building 16-18 Mau Lam Street Jordon
Kowloon Hong Kong
%20LIMITED%20-%20318144.doc%2024-Apr-2015_files/image015.jpg)
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
|
-- |
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.