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Report No. : |
303117 |
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Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AARAV TRADING LIMITED |
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Registered Office : |
Unit A, 1/F., Mau Lam Comm., Bldg, 16-18 Mau Lam Street, Jordan Kowloon, |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.01.2003 |
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Com. Reg. No.: |
60942246 |
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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 : |
Ca |
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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 : |
Moderate |
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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 – 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 |
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Moderate |
B1 |
|
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 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 |
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Company Name: |
AARAV TRADING LIMITED |
|
Supplied Name: |
AARAV TRADING LTD |
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Supplied Address: |
Hang Seng Tower Teleford Plaza, 33 Wai Yip Street Kowloon Bay |
Note: The exact name is as above; the supplied address is not complete and we cannot confirm the relation between the address and the subject.
We did not find any
valid contact information and operation information of subject in Hong Kong
according to the supplied name.
According to the
registered address, we tried to contact subject through the phone
+852-2736-4745, a man answered it and introduced that his company called Buttar
Group which is engaged in providing
registered and accounting service. Subject is one of customers and the
registered address belongs to his company. But he declined to disclose any
other information about subject citing the grounds of confidentiality.
In view of the
supplied address is not complete and we did not find any other operation or
valid contact information of subject. Up to the date of report, we failed to
get in touch with subject, if you kindly supply further information such as
current telephone number; we’d like to continue our investigation.
We found the
registration information of subject from local registry, supplying as follows
for reference.
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Registered Name: |
|
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Registered
Address: |
Unit A, 1/F., Mau Lam Comm., Bldg, 16-18 Mau Lam Street, Jordan
Kowloon, Hong Kong |
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Date of
Registration: |
2013-1-29 |
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Registered Number: |
1858187 |
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Business
Registration No.: |
60942246 |
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Registered Capital: |
HKD 10,000 (USD
1,290) (As of 2015.01, 1
HKD = 0.129 USD) |
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Paid-up Capital: |
HKD 10,000 (USD
1,290) = 10,000 Shares@ HKD 1 |
|
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 |
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Date of Last
Annual Return: |
2014-1-29 |
Note:
Since we didn’t find subject, the principal activities and staff number are not
available from any sources.
Subject was incorporated
on 2013-1-29 with the registered number 1858187 as Private Limited Liability
Company in Hong Kong.
Transfer of Shares:
|
2013-1-30 |
||
|
Transferred From |
No. of Shares
Transferred |
Transferred To |
|
Indiandirecto RY.
HK Limited |
1 |
Agarwal Sharad |
Subject did not register any subsidiaries or branches, from other source
we can not obtain the relevant information, either.
|
Subscription
Shares |
Proportion of
Investment (%) |
|
|
Agarwal Sharad |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
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Name: |
Agarwal Sharad |
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Address: |
1003/1004 Marathon
Maxima LBS Marg Mulund, West Mumbai, 400080, India |
Former Shareholder:
|
Name: |
Indiandirecto RY.
HK Limited |
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Address: |
Unit I, 1/F., Mau
Lam Comm., Bldg, 16-18 Mau Lam Street, Jordan Kowloon, Hong Kong |
Core Management
Detailed Information
of Directors:
|
1 |
|
|
Name: |
Agarwal Sharad |
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Address: |
1003/1004 Marathon
Maxima LBS Marg Mulund, West Mumbai, 400080, India |
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Position: |
Director |
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Passport Number: |
J1739001 |
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Issuing Country: |
India |
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2 |
|
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Name: |
Buttar.HK Limited |
|
Address: |
1st Floor,
Mau Lam Comm., Bldg, 16-18 Mau Lam Street, Jordan Kowloon, Hong Kong |
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Position: |
Corporate
Secretary |
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Registered Number: |
975326 |
Offices & Factories
We cannot confirm
subject current trading address at this stage.
Operation Information
Since we didn’t get
in touch with subject, the operation information cannot be obtained by any
sources.
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 financial information is not available from any
sources.
Mortgage Record
No mortgage record
of subject was found.
Up to now, no
present or latent litigation of the subject has been found.
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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.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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 |
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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 |
|
|
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.