MIRA
INFORM REPORT
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Report No. : |
305689 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SAF LOGISTICS LIMITED |
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Registered Office : |
Unit C, 13/F., |
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Country : |
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Date of Incorporation : |
11.04.2013 |
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Com. Reg. No.: |
1889986 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
PROVIDING
LOGISTIC SERVICES. |
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No. of Employees : |
About 2 |
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 : |
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: |
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Supplied Name: |
SAF LOGISTICS LIMITED |
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Supplied Address: |
UNIT-S, 1/F, MAU LAM COMM BLDG, 16-18, MAU LAM
STREET, JORDAN, KLN, HONGKONG |
Note: The supplied address belongs to corporate secretary company
““Buttar Group of Companies”.
Special Note
According to the supplied address, we tried to
contact subject through the phone +852-2736-4745, a man answered it and
introduced that his company called Buttar Group which is engaged in providing registered and accounting service. But he declined
to disclose any other information about subject citing the grounds of
confidentiality.
We made an on-site visit to subject’s current
registered address. We found “Great Mega Holdings Limited” located at the
address. The relevant staff introduced
that he didn’t know subject.
We tried to contact subject through the
supplied mobile phone number +852-6210-2099, Mr. Gupta answered it and
introduced that his company is engaged in providing logistic service. When we
checked the supplied address with him, he just introduced we should make an
appointment in advance and he didn’t introduce the exact trading address of
subject in Hong Kong.
We found the registration and operation
information of subject from local registry and interview, supplying as follows
for reference.
Company
Identification Details
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Registered Name: |
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Registered Address: |
Unit C, 13/F.,
Wing Cheong Commercial Building, 19-21 Jervois Street, Sheung Wan, Hong Kong |
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Mobile Phone Number: |
+852-6210-2099 |
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E-mail: |
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Date of Registration: |
2013-4-11 |
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Registered Number: |
1889986 |
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Business Registration No.: |
61261358 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.02, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
Providing logistic service |
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Staff: |
About 2 Employees |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-4-11 |
History
Subject was incorporated on 2013-4-11 with the
registered number 1889986 as Private Limited Liability Company in Hong Kong.
Change of Name:
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Date |
Change |
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2013-10-4 |
SAF Logistics Limited |
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2013-4-11 |
Safal Inc. Limited |
Change of Registered Address
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Current Registered Address |
Unit C, 13/F., Wing Cheong Commercial
Building, 19-21 Jervois Street, Sheung Wan, Hong Kong |
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Former Registered Address |
Unit S, 1/F., Mau Lam Commercial Building, 16-18
Mau Lam Street, Jordan, Kowloon, Hong Kong |
Transfer of Shares:
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2013-4-11 |
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Transferred From |
No. of Shares Transferred |
Transferred To |
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Indiandirectory. HK Limited |
1 |
Gupta Vikas |
Corporate
Structure
Subject did not introduce
whether it has 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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Gupta Vikas |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder Information:
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Name: |
Gupta Vikas |
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Address: |
H.No.6 Roshan Mandi, Tehsil Road, Najafgarh,
New Delhi 110043, India |
Former Shareholders Information:
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Name: |
Indiandirectory. HK Limited |
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Address: |
Unit 1, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong |
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Date of Registration: |
2002-6-7 |
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Registered Number: |
801462 |
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Business Registration No.: |
33128524 |
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Change of Name |
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Date |
Change |
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2007-11-20 |
Indiandirectory. HK Limited |
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2007-6-27 |
Speedway Freight Systems Limited |
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2002-6-7 |
Link Global Investments Limited |
Management
Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Gupta Vikas |
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Address: |
H.No.6 Roshan Mandi, Tehsil Road, Najafgarh,
New Delhi 110043, India |
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Position: |
Director |
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Passport Number: |
Z2073285 |
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Issuing Country: |
India |
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2 |
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Name: |
DN Cony. Limited |
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Address: |
Unit A, 8/F., Western House, No.164-170 Des Voeux
Road West, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1654346 |
Former Corporate Secretary:
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Name: |
Buttar.HK Limited |
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Date of Resignation: |
2014-4-10 |
Operation
Information
Offices & Factories
We cannot confirm subject current trading
address at this stage.
Operation Information
Subject is engaged in providing logistic
service.
Subject’s major services include air and ocean
freight transport, warehousing, customs clearance, insurance coverage.
It is introduced that subject especially
focuses on marble, stone and cloth transportation.
Subject’s mainly routes in advantaged include
India-Pakistan, Southeast Asia, Europe and USA.
Subject’s service regions include Asia, Europe
and America.
Subject’s major types of customers are
enterprises and individuals.
Settlements
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
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Name: |
HSBC |
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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Name |
Mr. Gupta |
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Position: |
Director |
Attachment
Wing Cheong Commercial Building, 19-21 Jervois
Street, Sheung Wan, Hong Kong
Unit C, 13/F., Wing Cheong Commercial
Building, 19-21 Jervois Street, Sheung Wan, 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.61.74 |
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1 |
Rs.92.71 |
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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 : |
TPT |
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.