MIRA INFORM REPORT
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Report No. : |
354232 |
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Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
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Name : |
B MILAN LIMITED |
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Registered Office : |
Room 705 A, 7/F., Tower A, Hunghom Commercial Centre, No. 39 Ma Tai Wai Road, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
18.03.2014 |
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Com. Reg. No.: |
62936794 |
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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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% of
total system deposits in Hong Kong by the end of 2014. 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 47.3 million in 2014, 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 2014 mainland Chinese
companies constituted about 50% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 60.1% 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 4.4% in 2014. 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 2014, Hong Kong and China
signed a new agreement on achieving basic liberalization of trade in services
in Guangdong Province under the Closer Economic Partnership Agreement, adopted
in 2003 to forge closer ties between Hong Kong and the mainland. The new
measures, effective from March 2015, cover a negative list and a most-favored
treatment provision, and will improve access to the mainland's service sector
for Hong Kong-based companies.
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Source
: CIA |
Contact Points
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Company Name: |
B Milan Limited |
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Supplied Name: |
B Milan limited |
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Supplied Address: |
RM 705 A, 7/F, Hunghom Commercial Tower A, No 39 Ma Tau Wai Road Hung
Hom Kowloon |
Note: The exact name is as above.
Credit Summary
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Credit Opinion: |
Since we
consider subject as an offshore company and we didn’t find subject’s business
entity either in Hong Kong or anywhere else, thus we did not give credit
rating at present. |
Special Note
We cannot obtain any operation or contact information of the subject from public files according to the supplied name or address.
We arranged the site visit to the supplied address, which is also subject’s registered address, but we didn’t find subject on it. We found subject’s company secretary (Champion Corporate Limited) on it. The relevant staff of the company introduced that her company is engaged in providing the services of registration, etc. The staff introduced that subject is one customers of her company, but she declined to disclose any other information.
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: |
Room 705 A,
7/F., Tower A, Hunghom Commercial Centre, No. 39 Ma Tai Wai Road, Kowloon,
Hong Kong |
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Date of Registration: |
2014-03-18 |
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Registered Number: |
2056295 |
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Business Registration No.: |
62936794 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD
1 (As of 2015.12, 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: |
2015-03-18 |
History
Subject was incorporated on 2014-03-18 with
the registered number 2056295 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.
Shareholder
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Subscription Shares |
Proportion of Investment (%) |
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|
Milankumar Harshadbhai Bhayani |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder Information:
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Name: |
Milankumar Harshadbhai Bhayani |
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Address: |
202-Akshardham APPT., Vallabh Nagar SOC.,
Varachha Road, Surat City, PIN:395006, Gujarat, India |
Management Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Milankumar Harshadbhai Bhayani |
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Address: |
202-Akshardham APPT., Vallabh Nagar SOC.,
Varachha Road, Surat City, PIN:395006, Gujarat, India |
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Position: |
Director |
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Passport Number: |
L2999622 |
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Issuing Country: |
India |
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2 |
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Name: |
Champion Corporate Limited |
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Address: |
Unit 907, 9/F., Silvercord Tower 2, 30
Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
657221 |
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 cannot obtain the relevant information.
Public
Mortgage Record
No mortgage record of the subject was found.
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
Address: Room 705 A, 7/F., Tower
A, Hunghom Commercial Centre, No. 39 Ma Tai Wai Road, Kowloon, Hong Kong
Tower A, Hunghom Commercial Centre, No. 39 Ma
Tai Wai Road, Kowloon, Hong Kong
Room 705 A, 7/F., Tower A, Hunghom Commercial
Centre, No. 39 Ma Tai Wai Road, Kowloon, Hong Kong
Room 705 A, 7/F., Tower A, Hunghom Commercial
Centre, No. 39 Ma Tai Wai Road, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
|
1 |
Rs.100.58 |
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Euro |
1 |
Rs.73.16 |
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HKD |
1 |
Rs.8.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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.