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Report No. : |
324767 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CITI-WELL( |
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Registered Office : |
10/F, Unit-C-6, Tack Building |
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Country : |
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Date of Incorporation : |
25.06.2014 |
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Com. Reg. No.: |
2113116 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [Note: We tried to confirm /
obtain the detailed activity but the same is not available from any sources] |
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No. of Employee : |
Not Available It is to be noted that
the company does not have its own operating office in |
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 |
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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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.
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Source
: CIA |
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Company Name (in English): |
CITI-WELL
(CHINA) LIMITED |
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Supplied Name: |
CITI WELL CHINA LTD |
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Supplied Address: |
10/F UNIT K 4 TACK BUILDING 48 GILMAN STREET CENTRAL HONG KONG |
We can not find any operation information of
subject through public files, and subject’s registered address is that of
subject’s secretary corporate, 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.
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Registered Name: |
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Registered Address: |
10/F, Unit-C-6,
Tack Building 48 Gilman Street Central Hong Kong |
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Date of Registration: |
2014-6-25 |
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Registered Number: |
2113116 |
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Business Registration No.: |
63506992 |
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Registered Capital: |
HKD 10,000 (USD 1,290) (As of 2015.06, 1 HKD = 0.129 USD) |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
Subject was incorporated on 2014-6-25 with the
registered number 2113116 as Private Limited Liability Company in Hong Kong.
Change of Address:
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Former Address |
14/F, Shun Wo Commercial Centre, 25 Wing Wo
Street, Central, Hong Kong |
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Current Address |
10/F, Unit-C-6, Tack Building 48 Gilman
Street Central Hong Kong |
Change of Capital:
Particulars of the increase are as follows:
|
Date of Resolution |
Registered Capital |
Amount of Additional Capital |
New Amount of Total Registered Capital |
|
2014-8-29 |
1 |
9,999 |
10,000 |
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subscription shares |
Proportion of Investment (%) |
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|
CRL14 Limited |
1 |
0.01% |
|
Agarwal Akash |
9,999 |
99.99% |
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Total |
10,000 |
100% |
Major Shareholder Information:
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1 |
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Name: |
CRL14 Limited |
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Address: |
OMC Chambers, Wickham Cay 1, Road Town
Tortola, British Virgin Islands |
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2 |
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Name: |
Agarwal Akash |
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Address: |
H, No.-62, Gali No-14, A2 Block, West Sant
Nagar Burari, Delhi Pin:110084, Delhi, India |
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Agarwal Akash |
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Address: |
H, No.-62, Gali No-14, A2 Block, West Sant
Nagar Burari, Delhi Pin:110084, Delhi, India |
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Position: |
Director |
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Passport Number: |
L2172640 |
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Issuing Country: |
Republic of India |
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Date of Appointment: |
2014-8-29 |
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2 |
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Name: |
Global Associates Limited |
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Address: |
10/F, Unit-C-6, Tack Building 48 Gilman
Street Central Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
1695695 |
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Date of Appointment: |
2014-8-29 |
Former Directors:
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1 |
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Name: |
CRL14 Limited |
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Address: |
OMC Chambers, Wickham Cay 1, Road Town
Tortola, British Virgin Islands |
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Position: |
Director |
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Date of Cessation: |
2014-8-29 |
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2 |
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Name: |
GSL14 Limited |
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Address: |
14/F, Shun Wo Commercial Centre, 25 Wing Wo
Street, Central, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
2010658 |
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Date of Cessation: |
2014-8-29 |
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3 |
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Name: |
Liu Zhi Yin |
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Address: |
Room 202, Block 1, 2 Tianbei Road, Luohu
District, Guangdong Province, China |
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Position: |
Director |
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Date of Cessation: |
2014-8-29 |
Subject does not have business entity in Hong
Kong.
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 can not obtain the relevant information.
Mortgage Record
No mortgage of subject were 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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
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|
1 |
Rs.97.27 |
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Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
-- |
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.