MIRA INFORM REPORT
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Report No. : |
305283 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
A.C.T. TRAVEL COMPANY LIMITED |
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Registered Office : |
Room 110, 1/F Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
30763567 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing of traveling service. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 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.
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Source
: CIA |
Contact
Points
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Company Name (in
English): |
A.C.T. Travel Company Limited |
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Supplied Name: |
ACT Travel Co
Ltd |
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Trading Address: |
Room 110, 1/F
Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong |
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Supplied
Address: |
110, 1/F Kiu Fung
Mansion 18 Avenue TST |
Note: The exact name and address are as above.
Company
Identification Details
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Registered Name: |
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Registered Address: |
Room 110, 1/F Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui,
Kowloon, Hong Kong |
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Telephone Number: |
+852-2890-8900 |
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Date of Registration: |
2000-3-13 |
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Registered Number: |
707834 |
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Business Registration No.: |
30763567 |
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Paid-up Capital: |
HKD 500,000 (USD 64,500) = 500,000 Shares @ HKD 1 (As of 2015.2, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
Providing of traveling service, etc. |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-3-13 |
Note: Subject declined to disclose its staff number, and from other source we
can’t obtain the information, either.
History
Subject was incorporated on 2000-3-13 with the registered number 707834
as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not registered any subsidiaries or
branches, from other source we can not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
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Foo Kin Ming,
Charlie |
250,000 |
50% |
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Tse Tak Kam, Tony |
250,000 |
50% |
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Total |
500,000 |
100% |
Major Shareholder Information:
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1 |
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Name: |
Foo Kin Ming,
Charlie |
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Address: |
4/F., Wallsend House,
9 Maidstone Lane, Tokwawan, Kowloon, Hong Kong |
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2 |
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Name: |
Tse Tak Kam, Tony |
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Address: |
Room 3403, 34/F.,
Kwong Cheong House, Kwong Ming Court, Tseung Kwan O, New Territories, Hong
Kong |
Management
Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Foo Kin Ming,
Charlie |
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Address: |
4/F., Wallsend
House, 9 Maidstone Lane, Tokwawan, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
E564994(7) |
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2 |
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Name: |
Tse Tak Kam, Tony |
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Address: |
Room 3403, 34/F.,
Kwong Cheong House, Kwong Ming Court, Tseung Kwan O, New Territories, Hong
Kong |
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Position: |
Director &
Secretary |
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ID Number: |
D638091(4) |
Operation
Information
Offices &
Factories
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|
Office |
|
Address: |
Room 110, 1/F Kiu Fung Mansion, 18 Austin Avenue,
Tsimshatsui, Kowloon, Hong Kong |
Premises
Information
Office address:
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Address: |
Flat No.10 on 1/F,
Kiu Fung Mansion, No.18 Austin Avenue, Kowloon |
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Owners: |
NG King Hung |
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Memorial Number: |
13092300620012 Assignment |
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Date of
Instrument: |
2013-9-6 |
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Date of
Registration: |
2013-9-23 |
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Consideration
Value: |
HKD 5,500,000.00 |
History of
Premises Owners’
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1 |
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Memorial No.: |
13092501210013 |
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Date of
Instrument: |
2013-9-6 |
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Date of
Registration: |
2013-9-25 |
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Nature: |
Mortgage |
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In Favor of: |
Hang Seng Bank
Limited |
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Consideration: |
All Moneys |
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2 |
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Memorial No.: |
13072400920049 |
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Date of
Instrument: |
2013-7-8 |
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Date of
Registration: |
2013-7-24 |
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Nature: |
Agreement For Sale
And Purchase Remarks: See
assignment Mem. No. 11062202670172 |
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In Favor of: |
NG King Hung |
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Consideration: |
HKD 5,500,000.00 |
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3 |
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Memorial No.: |
11050902910162 |
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Date of
Instrument: |
2011-4-20 |
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Date of
Registration: |
2011-5-9 |
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Nature: |
Agreement For Sale
And Purchase Remarks: See
assignment Mem. No. 11062202670172 |
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In Favor of: |
Good Venture (HK)
Limited |
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Consideration: |
HKD 3,680,000.00 |
Operation Information
Subject is engaged in
providing traveling services, etc.
It is introduced
that subject has its own tour guides.
Subject can provide
booking services of air ticket and hotel etc. for its customers.
The travelling
routes provided by the subject include Hong Kong, Africa, Southeast Asia,
Japan, South Korea, Australasia, North America, Europe, Middle East, Taiwan,
etc.
It is introduced
that subject’s customers are individuals and teams.
Settlements
Subject declined to
disclose the detail settlement information, and it is introduced that the
details of settlements are to be negotiated.
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’s relevant
staff rejected to disclose the financial information; from other sources we
could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
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.
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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 |
Special
Note
Interview Details
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Department: |
Operator |
Attachment
Address: Room 110, 1/F Kiu Fung Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong
Kiu Fung Mansion,
18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong
Room 110, 1/F Kiu
Fung Mansion, 18 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.88 |
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|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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-- |
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.