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Report No. : |
355251 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TENLEY LTD. |
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Registered Office : |
C/o Prima Group Ltd. Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road, Central |
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Country : |
Hong Kong
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Date of Incorporation : |
08.07.2008 |
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Com. Reg. No.: |
39815272 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
NOT
AVAILABLE [WE TRIED
TO CONFIRM THE DETAILED ACTIVITY BUT THE SAME IS NOT AVAILABLE FROM ANY
SOURCES] |
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No. of Employees : |
No Employee 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
|
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 |
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Status : |
No Operating Office in Hong Kong |
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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) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 12.5% 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.
|
Source
: CIA |
TENLEY LTD.
Registered
Office:-
C/o Prima Group Ltd.
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road,
Central, Hong Kong.
Associated
Companies:-
Anchor Infotech Ltd., India.
Drishti India Ltd., India.
Indo Star Films Pvt. Ltd., India.
Indolink Technologies Pvt. Ltd., India.
Rangs Technologies India Ltd., India.
View Entertainment Pvt. Ltd., India.
39815272
1254293
8th July, 2008.
HK$1.00
(As per registry dated 08-07-2015)
|
Name |
|
No. of share |
|
Puneet AGGARWAL |
|
1 = |
(As per registry dated 08-07-2015)
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Name (Nationality) |
Address |
|
Puneet AGGARWAL |
C-161, East of Kailash, New Delhi-110065, India. |
(As per registry dated 08-07-2015)
|
Name |
Address |
Co. No. |
|
Prima Secretaries Ltd. |
Suite 605, 6/F., China Insurance Group Building, 141 Des Voeux Road
Central, Hong Kong. |
0569406 |
Tenley Ltd. was incorporated on 8th July, 2008 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 ‘Suite 605, 6/F., China Insurance Group Building, 141
Des Voeux Road Central, Hong Kong’ known as ‘Prima Secretaries Ltd.’ [Prima]
which is handling its correspondences and documents. Prima is also the corporate secretary of the
subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong Kong, the subject has issued
just one ordinary share of HK$1.00 which is owned by Mr. Puneet Aggarwal who is
an India merchant.
He is an India passport holder and does not have 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
got a number of associated companies in India:-
Some of the companies are engaged in manufacturing television and radio
receivers, sound or video recording or reproducing apparatus, and associated
goods.
View Entertainment Pvt. Ltd. is engaged in motion picture, radio,
television and other entertainment activities.
The subject’s business in Hong Kong is not active. History in Hong Kong is over seven years and
five 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.
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.66.30 |
|
|
1 |
Rs.98.70 |
|
Euro |
1 |
Rs.72.33 |
|
HKD |
1 |
Rs.8.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.