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Report No. : |
307206 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BROWAY
GROUP LTD. |
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Registered Office : |
Flat 1002B,
10/F., Ginza Plaza, 565 Nathan Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
19.05.2009 |
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Com. Reg. No.: |
50688402 |
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Legal Form : |
Private Limited
Liability Company |
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LINE OF BUSINESS : |
SUBJECT IS TRADING IN ELECTRONICS,
COMPUTER PARTS, MOBILE PHONES AND ACCESSORIES, SIGN PRODUCTS, WEIGHT PLATE,
LED DISPLAY PARTS |
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No. of Employee : |
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 pirating 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 |
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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
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Source
: CIA |
BROWAY GROUP
LTD.
Registered
Head Office:-
Flat
1002B, 10/F., Ginza Plaza, 565 Nathan Road, Kowloon, Hong Kong.
Associated
Company:-
Best
Star Ltd., Hong Kong.
50688402
1339262
Managing Director: Mr. Amrit Pal
Singh
HK$1,000,000.00
(As per registry dated 19-05-2014)
|
Name |
|
No. of shares |
|
Amrit Pal Singh |
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1,000,000 ======= |
(As per registry dated 19-05-2014)
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Name (Nationality) |
Address |
|
Amrit Pal Singh |
Flat B, 15/F., Albert House, 26 Cheng Tu Road, Aberdeen, Hong Kong. |
(As per registry dated 19-05-2014)
|
Name |
Address |
Co. No. |
|
Prime Star (HK) Ltd. |
Unit 71, 2/F., Mirador
Mansion, 58 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. |
1232627 |
The subject was incorporated on 19th May,
2009 as a private limited liability company under the Hong Kong Companies
Ordinance.
Formerly the subject’s registered address was
located at Room A, 8/F., Kam Chung Commercial Building, 19-21 Hennessy Road,
Wanchai, Hong Kong where was the operating office of a commercial service
provider CBS Pacific Ltd. It moved to
the present address in January 2014 as it has changed its commercial service
provider since then.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Broway Group Ltd. has issued 1 million
ordinary shares of HK$1.00 each which are wholly-owned by Mr. Amrit Pal Singh
who is an Indian. Now, he is a Hong Kong
ID holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.
Formerly the subject did not have its own
operating office. Its registered office
was in a commercial service firm located at Room A, 8/F., Kam Chung Commercial
Building, 19-21 Hennessy Road, Wanchai, Hong Kong known as CBS Pacific Ltd.
which had handed its correspondences and documents. It moved to the present address in January
2014. This is the office of a commercial
service provider located at ‘Flat 1002B, 10/F., Ginza Plaza, 565 Nathan Road,
Kowloon, Hong Kong’. According to our
spot investigation, we found that there are at least three companies located at
this address. However, there are nobody
working in the office. It seems that the
commercial service provider has moved out.
The subject has no employees in Hong
Kong. Sometimes Singh works in Shenzhen
Special Economic Zone, China.
The subject is trading in electronics,
computer parts, mobile phones and accessories, sign products, weight plate, LED
display parts, etc. It is able to supply
its customers with all kinds of commodities sourced from China, Hong Kong,
etc. According to the subject, it has
had an office in India.
Currently the subject is looking for
business partners from Canada, Australia, the United States, Georgia, Italy,
Brazil, etc. It can supply these
countries with building materials and furniture and also can buy computer
parts, electronic products, LED boards, displays, home theatres, transistors,
card readers, USB hubs, etc. from Europe, and the United States. Some of these electronic products are
marketed in Asian countries.
Most of the subject’s commodities are
exported to North America, Eastern Europe, South America, the Middle East,
etc. One of its significant Canada
customers is Bannerz Canada Inc.
Singh is operating another firm Best Star
Ltd. [Best Star] which is also a Hong Kong-registered firm. The registered address of Best Star is in the
office of an accounting firm in Hong Kong.
The subject’s business in Hong Kong is not
active. History in Hong Kong is over
five years and eight 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.62.20 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
ASH |
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 |
|
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.