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Report No. : |
304727 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MAX RICH CREATION LTD. |
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Registered Office : |
C/o Buttar.HK Ltd. Unit M, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
06.09.2012 |
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Com. Reg. No.: |
60324004 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is a diamond importer, exporter and wholesaler. |
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No. of Employees |
No Employees in Hong Kong (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.) |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 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.
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Source
: CIA |
MAX
RICH CREATION LTD.
ADDRESS:
Registered
Office:-
c/o Buttar.HK Ltd.
Unit M, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
[Tel: 852-2312 0148; Fax: 852-2375 6513]
60324004
1796616
6th September, 2012.
Nominal Share Capital: HK$10,000.00 (Divided
into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 06-09-2013)
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Name |
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No.
of shares |
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Dipakkumar Bhagwanbhai SAVANI |
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10,000 ===== |
(As per registry dated 06-09-2013)
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Name (Nationality) |
Address |
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Dipakkumar Bhagwanbhai SAVANI |
203-204, Vaibhav Complex, Nilambaug Soc,
Hirabaug, Varachha Road, Surat-395006, India. |
(As per registry dated 06-09-2013)
|
Name |
Address |
Co.
No. |
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Buttar.HK Ltd. |
1/F., Mau Lam Commercial, Building, 16-18
Mau Lam Street, Jordan, Kowloon, Hong Kong. |
0975326 |
Max Rich Creation Ltd. was incorporated on
6th September, 2012 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
secretarial company located at Unit M, 1/F., Mau Lam Commercial Building, 16-18
Mau Lam Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is
handling its correspondences and documents.
Buttar.HK Ltd. is also the corporate secretary of the subject. ‘Unit M’ is the file number of the subject in
the secretarial company.
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. Dipakkumar Bhagwanbhai Savani 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.
The subject is a diamond importer, exporter
and wholesaler. It is trading in loose,
polished and cut diamonds. Most of the
commodities are imported from India.
Prime markets are Hong Kong and the other Asian countries. Business is still under development.
The subject has been banking with The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
The subject’s business in Hong Kong is not
active. History in Hong Kong is just
over a year and nine 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
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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UK Pound |
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.