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Report No. : |
307121 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DOCOMO INDUSTRIES
LTD. |
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Registered Office : |
c/o Ksun Accounting Secretarial Service Co. Ltd. Unit B, 20/F., Full Win Commercial Centre, 573 Nathan
Road, Yau Ma Tei, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
24.09.2013 |
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Com. Reg. No.: |
62082747 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engaged in trading of Water Filter, Fabric, Machinery &
Equipment, Plastic Injection Moulding Machine & Kitchenware |
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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 |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
DOCOMO INDUSTRIES
LTD.
Registered
Office:-
c/o Ksun Accounting Secretarial Service Co. Ltd.
Unit B, 20/F., Full Win Commercial Centre, 573 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong.
Associated
Companies:-
Golden Sword Ltd., Hong Kong.
Golden Sword Ltd.
Suite 101, No-40, Lane-1285, Shanzhong West Road, Minhang District, Shanghai, China.
[Tel: 86-21-5481 3543]
62082747
1971276
24th September, 2013.
HK$10,000.00
(As per registry
dated 24-09-2014)
|
Name |
|
No.
of shares |
|
Tarachand SAINI |
|
10,000 ===== |
(As per registry
dated 24-09-2014)
|
Name (Nationality) |
Address |
|
Tarachand
SAINI |
Suite 101, No-40, Lane-1285,
Shanzhong West Road, Minhang District, Shanghai, China. |
(As per registry
dated 24-09-2014)
|
Name |
Address |
Co.
No. |
|
Ksun Accounting Secretarial Service Co. Ltd. |
Unit B, 20/F., Full Win Commercial Centre, 573 Nathan
Road, Yau Ma Tei, Kowloon, Hong Kong. |
1479469 |
Docomo Industries Ltd. was incorporated on 24th September, 2013 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 ‘Unit B, 20/F., Full Win Commercial Centre, 573 Nathan Road, Yau Ma Tei, Kowloon, Hong Kong’ known as ‘Ksun Accounting Secretarial Service Co. Ltd.’ [Ksun] which is handling its correspondences and documents. Ksun 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 wholly-owned by Mr. Tarachand Saini 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 in in Shanghai, China.
The subject has had
the following two associated companies:-
·
Golden Sword Ltd., Hong Kong.
· Golden Sword Ltd. [GSL], China.
The subject and GSL are engaged in the same lines of business. Located in Shanghai, China, GSL is trading in the following commodities: Water Filter, Fabric, Machinery & Equipment, Plastic Injection Moulding Machine & Kitchenware
GSL also trades other commodities as entrusted by foreign customers. Most of the products are sourced from China. Mr. Tarachand Saini is also the operator and contact person of Shanghai GSL. The prime market of Shanghai GSL is India and the other Asian countries.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year and four 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.62.14 |
|
UK Pound |
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.