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Report No. : |
309647 |
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Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RELIANCE GLOBAL SOURCING LIMITED |
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|
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Registered Office : |
20F, Champion Building, 287-291 Des Voeux Rd. Central, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
10.01.2014 |
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Com. Reg. No.: |
2024811 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources]
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No of Employees : |
Not Available |
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) |
|
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
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 levies excise
duties on only four commodities, namely: 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, it again faces a possible slowdown as exports to the
Euro zone and US slump. 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 9.1% of
total system deposits in Hong Kong by the end of 2012, an increase of 59% from
the previous year. 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 exports 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. Growth slowed to 5% in 2011, and less than 2% in 2012. Credit
expansion and tight housing supply conditions caused Hong Kong property prices
to rise rapidly and inflation to rise 4.1% in 2012. 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.
|
Source : CIA |
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Company Name: |
Reliance Global Sourcing Limited |
|
Supplied Name: |
RELIANCE GLOBAL SOURCING LIMITED |
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Supplied Address: |
6TH FLOOR, FORTUNE INDUSTRIAL BLDG, 35, TAIYIP STREET, KWUN TONG
KOWLOON, HONGKONG |
Note: The exact
name is as above. Since we didn’t find subject, the trading address is not
available from any sources.
|
Credit Opinion: |
We cannot obtain any operation or contact information of the subject from public files according to the supplied name or address.
We visited the supplied address, but the result has not been come back. We will update the report when receive the photos.
As the registered address is that of subject’s corporate secretary (Akin Professionals Limited), we cannot obtain any valid information of the subject according to it.
Update to date of reporting, we failed to get in touch with subject. If you can supply further information such as current telephone number, we’d like to have the investigation resumed.
We found subject’s registration information as follows for reference.
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Registered Name: |
|
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Registered Address: |
20F, Champion Building,
287-291 Des Voeux Rd. Central, Sheung Wan, Hong Kong |
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Date of Registration: |
2014-1-10 |
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Registered Number: |
2024811 |
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Business Registration No.: |
62620406 |
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Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2014.12, 1 HKD = 0.129 USD) |
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Paid-up Capital: |
HKD 1.00 (USD 0.129) = 1 Shares@ HKD 1 |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: Since we didn’t
find subject, the principal activities and staff number is not available from
any sources.
Subject was incorporated on 2014-1-10 with the registered number 2024811 as Private Limited Liability Company in Hong Kong.
Subject did not
register any subsidiaries or branches, from other source we can not obtain the
relevant information, either.
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Mohit Kumar |
1 |
100% |
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Total |
1 |
100% |
Major Shareholder
Information:
|
Name: |
Mohit Kumar |
|
Address: |
C/O Kewal Chand Rajendra Kumar Tater,
Vpo-adsar, Th-sri Dungargarh, Bikaner, Rajasthan, 331803, India |
Core
Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Mohit Kumar |
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Address: |
C/O Kewal Chand Rajendra Kumar Tater,
Vpo-adsar, Th-sri Dungargarh, Bikaner, Rajasthan, 331803, India |
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Position: |
Director |
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Passport Number: |
K7338490 |
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Issuing Country: |
India |
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2 |
|
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Name: |
Akin Professionals Limited |
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Address: |
20F, Champion Building, 287-291 Des Voeux
Rd. Central, Sheung Wan, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1273165 |
Offices
& Factories
We cannot confirm subject current trading address at this stage.
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.
Since we didn't get in touch with subject, the
relevant information is not available from any sources.
Since we didn't get in touch with subject, the bank information is not available from any sources.
Mortgage
Record
No mortgage record was found.
Up to now, no present or latent litigation of the subject has been found.
|
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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
|
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 |
-- |
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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.