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Report No. : |
330910 |
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Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
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Name : |
BRIGHT SUNRISE LTD. |
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Registered Office : |
C/o Prime Star (HK) Ltd., Unit 71 & 31, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
26.01.2015 |
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Com. Reg. No.: |
64343252 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject’s lines
of business are unknown since the secretarial company declined to tell us
about its business. (Note: We tried to confirm obtain the details activity but the same is not available from any source.) |
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No. of Employees : |
No Employees in Hongkong 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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
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 |
HONGKONG - 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 12.5% of total system deposits in Hong
Kong by the end of 2014. 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 47.3 million
in 2014, 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 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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
4.4% in 2014. 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 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong
Kong and the mainland. The new measures, effective from March 2015, cover a
negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
[The subject is not located at your address:-
“32, 2/F., Mirador Mansion,
54-64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong” which is occupied by a
company known as Omnex Cosmetic Collection.
This company known nothing about the subject.]
BRIGHT
SUNRISE LTD.
Registered Head Office:-
c/o Prime Star (HK) Ltd.
Unit 71 & 31, 2/F.,
Mirador Mansion, 54-64 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.
64343252
2196280
HK$10,000.00
(As per registry dated 05-02-2015)
|
Name |
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No. of shares |
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Comkit Ltd., Hong Kong. |
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1 |
|
Deepak SINGH |
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9,999 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 05-02-2015)
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Name (Nationality) |
Address |
|
Deepak SINGH |
H No. 131, V.P.O. Jharsha, Gurgaon, PIN: 122001,
Haryana, India. |
(As per registry
dated 05-02-2015)
|
Name |
Address |
Co. No. |
|
Prime Star (HK) Ltd. |
Unit 71, 2/F., Mirador Mansion, 58 Nathan Road,
Tsimshatsui, Kowloon, Hong Kong. |
1262327 |
The subject was
incorporated on 26th January, 2015 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong where was the
operating office of a commercial service provider Comkit Ltd. It moved to the present address with effect
from 5th February 2015 as it has changed its commercial service provider since
then.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Bright Sunrise Ltd. was
incorporated on 26th January, 2015 as a private limited liability company.
The subject does not
have its own operating office. Its
registered office is in a commercial service firm located at “Unit 71 & 31, 2/F., Mirador Mansion, 54-64 Nathan Road, Tsimshatsui,
Kowloon,
Hong Kong” known as ‘Prime Star (HK)
Ltd.’
which is handling its correspondences and documents. This secretarial company is also the
corporate secretary of the subject.
The subject has no
employees in Hong Kong.
According to the Companies
Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00
each of which are almost wholly-owned by Mr. Deepak SINGH 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. He was appointed director of
the subject on 5th February, 2015. His
registered address is in Haryana, India.
The subject’s lines of business are unknown since the
secretarial company declined to tell us about its business.
The director of the
subject cannot be reached as he is not in Hong Kong.
No information of the
subject can be obtained from our secondary sources.
We are not sure
whether the subject has been banking with The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong, or not.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is just over five 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
NIT |
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 |
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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 |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
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.