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Report No. : |
306443 |
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Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RISE INTERNATIONAL LTD. |
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Registered Office : |
C/o Excellent Honour Corporate Services Ltd., Unit B & C, 20/F., Full
Win Commercial Centre, 573 Nathan Road, Yaumatei, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.02.2010 |
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Com. Reg. No.: |
51819949 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and exporter of
all kinds of fabrics & textile products |
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No of Employees : |
No Employees 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
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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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
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.
|
Source
: CIA |
RISE INTERNATIONAL
LTD.
ADDRESS: C/o
Excellent Honour Corporate Services Ltd.
Unit B & C, 20/F., Full Win Commercial
Centre, 573 Nathan Road, Yaumatei, Kowloon, Hong Kong.
PHONE: 852-2626
0378
FAX: 852-2626
0372
Managing Director: Mr. Sanjeev Kumar Chopra
Incorporated on: 8th February, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$1.00
Business Category: Fabric
Trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered
Office:-
c/o Excellent Honour Corporate Services Ltd.
Unit B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road,
Yaumatei, Kowloon, Hong Kong.
Associated
Companies:-
Search Lights, Hong Kong. (Same
owner & same address)
Faishon Vanshika
11879/10, Sat Nagar Karol Bagh, New Delhi-100051, India.
51819949
1420301
Managing Director: Mr. Sanjeev Kumar Chopra
Nominal Share Capital:
HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital:
HK$1.00
(As per registry
dated 08-02-2014)
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Name |
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No. of share |
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Sanjeev Kumar CHOPRA |
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1 = |
(As per registry dated
08-02-2014)
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Name (Nationality) |
Address |
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Sanjeev Kumar CHOPRA |
11879/10, Sat Nagar Karol Bagh, New Delhi-100051, India. |
(As per registry
dated 08-02-2014)
|
Name |
Address |
Co. No. |
|
Excellent Honour Corporate Services Ltd. |
Unit B & C, 20/F., Full Win Commercial Centre, 573 Nathan Road,
Yaumatei, Kowloon, Hong Kong. |
1168336 |
The subject was incorporated on 8th February, 2010 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer
and Exporter.
Lines: All
kinds of fabrics & textile products
Employees: Nil.
Commodities Imported: India, etc.
Markets: Hong
Kong, China, other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00
(Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$1.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Adequate
for current running.
Payment: Unknown
Commercial Morality: Fairly satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Having issued one
ordinary share of HK$1.00, Rise International Ltd. is wholly owned by Mr.
Sanjeev Kumar Chopra who is an Indian. 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.
The subject does
not have its own operating office. Its
registered office is in a commercial service firm located at Unit B & C,
20/F., Full Win Commercial Centre 573 Nathan Road, Yaumatei, Kowloon, Hong Kong
known as Excellent Honour Corporate Services Ltd. [Excellent Honour] which is
handling its correspondences and documents.
Excellent Honour is also the corporate secretary of the subject.
Your given phone
number 852-2626 0378 belongs to Excellent Honour. Its fax number is 852-2626 0372.
The subject has no
employees in Hong Kong.
Chopra’s
registered address is in New Delhi, India, however, he may have moved to Hong
Kong.
The subject is a
fabric and textile product trader.
Commodities are chiefly imported from India. Prime markets are China, the other Asian
countries, etc. Business is fairly
active.
It is likely that
the subject has got an associated company in New Delhi, India which is also
trading in fabrics. This firm, known as
Faishon Vanshika, may be also operated by Chopra.
Besides operating
the subject, Chopra is also operating another firm known as Search Lights in
Hong Kong. Established on 8th August, 2008,
Search Lights is located at the same address.
The history of the
subject in Hong Kong is just over four years and seven months.
Since the subject
does not have its own operating office and has no employees in Hong Kong, on
the whole, 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
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|
1 |
Rs.93.53 |
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Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
|
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.