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Report No. : |
305466 |
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Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
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Name : |
UPPER LOYAL TRADING LTD. |
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Registered Office : |
C/o Tsun Sing Secretary Ltd., 12/F., San Toi Building, 137-139 Connaught Road Central |
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Country : |
Hongkong |
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Date of Incorporation : |
02.04.2014 |
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Com. Reg. No.: |
63151842 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
THE
SUBJECT’S LINES OF BUSINESS ARE UNKNOWN SINCE THE SECRETARIAL FIRM KNOWS
NOTHING ABOUT ITS BUSINESS. (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 : |
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 : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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) |
|
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% 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 |
UPPER LOYAL TRADING LTD.
Registered
Office:-
C/o Tsun Sing Secretary Ltd.
12/F., San Toi Building, 137-139 Connaught Road Central, Hong Kong.
[Tel: 852-2850 6311; Fax: 852-2850 4140]
63151842
2077772
2nd April, 2014
HK$10,000.00
(As per registry
dated 15-10-2014)
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Name |
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No. of shares |
|
WEI Minxia |
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1 |
|
Jaiprakash AMOLA |
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9,999 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry
dated 15-10-2014)
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Name (Nationality) |
Address |
|
Jaiprakash AMOLA |
Room 1412, 139 Taojin East Road, Guangzhou
City, Guangdong Province, China. |
(As per registry
dated 02-04-2014)
|
Name |
Address |
Co. No. |
|
Tsun Sing Secretary Ltd. |
12/F., San Toi Building, 137-139 Connaught
Road Central, Sheung Wan, Hong Kong. |
1641723 |
Upper Loyal Trading Ltd. was incorporated on 2nd April, 2014 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 ‘12/F., San Toi Building,
137-139 Connaught Road Central, Sheung Wan, Hong Kong’ known as ‘Tsun Sing
Secretary Ltd.’ which is handling its correspondences and documents. This secretarial company 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
10,000 ordinary shares of HK$1.00 each which are almost wholly-owned by
Mr. Jaiprakash Amola 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 Guangzhou City, Guangdong Province, China. The minor shareholder Ms. Wei Minxia is a
consultant of a commercial service provider in China.
The subject’s lines of business are unknown since the secretarial firm
knows nothing about its business.
The director of the subject cannot be reached as he is not in Hong
Kong. We can reach nobody at your given
China mobile phone line 86-1392 4210 874 as this line is either engaged or
‘cannot be connected’.
We just know that this is a China line in Guangzhou City, Guangdong
Province, China. This line is provided by
China Mobile Ltd., China.
No information of the subject can be obtained from our secondary
sources.
We are not sure whether the subject has been banking with The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong, or not.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over ten 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
|
1 |
Rs.93.53 |
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Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.