MIRA INFORM REPORT

 

 

Report No. :

301070

Report Date :

06.01.2015

 

IDENTIFICATION DETAILS

 

Name :

ONE SPARK INC (HK) COMPANY LIMITED

 

 

Formerly Known As :

SPARK INC (HK) COMPANY LIMITED

 

 

Registered Office :

X653, Room B, 14/F., Wah Hen Commercial Centre, No.383 Hennessy Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

15.05.2013

 

 

Com. Reg. No.:

1907540

 

 

Legal Form :

Private Limited Liability Company

 

 

LINE OF BUSINESS :

NOT AVAILABLE

 

[WE TRIED TO CONFIRM / OBTAIN THE DETAILED ACTIVITY BUT THE SAME IS NOT AVAILABLE FROM ANY SOURCES]

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

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

 

Status :

Offshore Company

Payment Behaviour :

Unknown

Litigation :

--

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Hong Kong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

Contact Points

 

Company Name (in Chinese):

唯一星光股份(香港)有限公司

Company Name (in English):

ONE SPARK INC (HK) COMPANY LIMITED

Supplied Name:

ONE SPARK INC (HK) COMPANY LIMITED

Supplied Address:

FLAT C,23/F LUCKY PLAZA,315-321 LOCKHART ROAD, WANCHAI, HONGKONG

 

Note: The exact name is as above and the supplied address belongs to a corporate secretary called “HK Yirenjiaren Business Consulting Limited”.

 

 

Special Note

 

We cannot find subject’s any operation information or valid contact information in Hong Kong through public files according to supplied name.

 

We made an on-site visit to the supplied address as above and found HK Yirenjiaren Business Consulting Limited located at the address. The relevant staff introduced that her company provides registered service. But she rejected to disclose any information about subject.

 

According to subject’s registered address, we tried to contact subject through the phone number +852-3050-6885 which we obtained from public files. A lady answered it and introduced that her company called Wings Int’l Business Consultant Limited which is engaged in providing registered and accounting service and subject’s registered address belongs to her company and subject is one of her company’s customers. However she declined to disclose any other information about subject.

 

As subject’s registered address is that of a corporate secretary (Wings Int’l Business Consultant Limited) and we didn’t find any operation and valid contact information about subject in Hong Kong, based on subject’s registered files and our investigation, we consider subject as an offshore company.

 

We found subject’s registered files from local registry, supplying as following for reference.

 

 

Company Identification Details

 

Registered Name:

One Spark Inc (HK) Company Limited

Registered Address:

X653, Room B, 14/F., Wah Hen Commercial Centre, No.383 Hennessy Road, Wanchai, Hong Kong

Date of Registration:

2013-5-15

Registered Number:

1907540

Business Registration No.:

61437498

Paid-up Capital:

HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD 1

(As of 2015.01, 1 HKD = 0.129 USD)

Legal Form:

Private Limited Liability Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2014-5-15

 

 

History

 

Subject was incorporated on 2013-5-15 with the registered number 1907540 as Private Limited Liability Company in Hong Kong.

 

Change of Name:

Date

Change

2013-6-17

One Spark Inc (HK) Company Limited

2013-5-15

Spark Inc (HK) Company Limited

 

 

Corporate Structure

 

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Shareholder

 

Name

Subscription Shares

Proportion of Investment (%)

Hu Yuefeng

10,000

100%

Total

10,000

100%

 

Major Shareholder Information:

Name:

Hu Yuefeng

Address:

No.175, Jiangwu, Jiangwu Village Majian Town, Lanxi City, Zhejiang Province, China

 

 

Management Information

 

Core Management

 

Detailed Information of Directors:

1

Name:

Hu Yuefeng

Address:

No.175, Jiangwu, Jiangwu Village Majian Town, Lanxi City, Zhejiang Province, China

Position:

Director

ID Number:

33071919811003481X

2

Name:

Wings Int’l Business Consultant Limited

Address:

X653, Room B, 14/F., Wah Hen Commercial Centre, No.383 Hennessy Road, Wanchai, Hong Kong

Position:

Corporate Secretary

Registered Number:

1717858

Email:

xcj628@sina.com

 

 

Operation Information

 

Subject does not have business entity in Hong Kong.

 

 

Financial Information

 

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.

Subject does not have business entity in Hong Kong, thus we cannot obtain the relevant information.

 

 

Bankers

 

Name:

Ping An Bank Co., Ltd Offshore Dept

SWIFT Code:

SZDBCNBS

USD Account No.:

11014504000004

 

Note: The supplied SWIFT Code belongs to Ping An Bank Co., Ltd.

However other bank information we cannot be confirmed by any sources.

 

 

Public

 

Mortgage Record

 

No mortgage record of subject was found.

 

 

Lawsuits

 

Up to now, no present or latent litigation of the subject has been found.

High Court Action:

Clear

High Court Baukufty Bankruptcy Proceedings:

Clear

High Court Commercial Action:

Clear

High Court Construction & Arbitration Proceedings:

Clear

High Court Companies Winding-Up:

Clear

 

 

Attachment

 

Address: Room C, 23/F, Lucky Plaza, 315-321 Lockhart Road, Wan Chai, Hong Kong

 

IMG_1

 

 

Lucky Plaza, 315-321 Lockhart Road, Wan Chai, Hong Kong

IMG_2

 

23/F, Lucky Plaza, 315-321 Lockhart Road, Wan Chai, Hong Kong

IMG_4

 

Room C, 23/F, Lucky Plaza, 315-321 Lockhart Road, Wan Chai, Hong Kong

IMG_3

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.39

UK Pound

1

Rs.96.85

Euro

1

Rs.75.67

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

 

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%)

 

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