MIRA INFORM REPORT
|
Report No. : |
324478 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
TARA (HONG KONG) LIMITED |
|
|
|
|
Formerly Known As : |
BEST PROFIT MANAGEMENT LIMITED |
|
|
|
|
Registered Office : |
Unit 12, 10th Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
10.11.2006 |
|
|
|
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Com. Reg. No.: |
1086640 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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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
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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.
|
Source
: CIA |
Company
name and address
|
Company Name: |
Tara (Hong Kong) Limited |
|
Supplied Name: |
Tara Hong Kong Ltd. |
|
Trading Address: |
Unit
12, 10th Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai
Road, Hunghom, Hong Kong |
|
Supplied Address: |
Unit 504, Block Hunghom Commercial Centre 39 MA Tau Wai
Road Kowloon |
Note: We contacted
with the subject, the subject’s relevant staff confirmed subject’s name and
address are as above. However, he didn’t mention the supplied address.
Special
Note
We made
an on-site visit, and found that subject is at its registered address. The relevant
staff on this location refused to disclose any information for us.
From public
files, we found a telephone number +852-2314-7115 belongs to the subject. We
contacted with the subject through this number. The man who answered the phone
just confirmed the subject’s name and address for us, however, he refused to
introduce any further information for us.
According to the supplied name and address, we cannot find any operation information or other valid contact information of subject.
Update to date of reporting, we failed to get in touch with subject. If you can supply a current telephone, we’d like to have the investigation resumed.
We found subject’s registration information as follows for reference.
Company
Identification Details
|
Registered
Name: |
|
|
Registered
Address: |
Unit 12, 10th Floor, Tower A, Hunghom Commercial Centre, 39
Ma Tau Wai Road, Hunghom, Hong Kong |
|
Telephone
Number: |
+852-2314-7115 |
|
Date of
Registration: |
2006-11-10 |
|
Registered
Number: |
1086640 |
|
Business
Registration No.: |
37364017 |
|
Registered
Capital: |
HKD 6,555,900
(USD 845,711) (As of 2015.05,
1 HKD = 0.129 USD) |
|
Paid-up
Capital: |
HKD 6,555,900
(USD 845,711) = 655,590 Shares@ HKD 10 |
|
Legal Form: |
Private Limited
Liability Company |
|
Principal
Activities: |
N/A |
|
Staff: |
N/A |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2014-11-10 |
Notes: Since the subject refused to introduce its staff number and principal activities
for us, the principal activities and staff number are not available from any
sources.
History
Subject was
incorporated on 2006-11-10 with the registered number 1086640 as Private
Limited Liability Company in Hong Kong.
Change of Name:
|
Date |
Change |
|
2006-11-28 |
Tara (Hong
Kong) Limited |
|
2006-11-10 |
Best Profit
Management Limited |
Corporate
Structure
Subject did not
introduce whether it has any subsidiaries or branches, from other source we can
not obtain the relevant information, either.
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Tara Jewels
Limited |
655,590 |
100% |
|
Total |
655,590 |
100% |
Major Shareholder Information:
|
Name: |
Tara Jewels
Limited |
|
Address: |
Plot No. 122,
15th Road, Near IDBI Bank, M. L. D. C, Anderi (East), Mumbai
400093, India |
Management
Information
Core Management
Detailed Information of Directors:
|
1 |
|
|
Name: |
Sheth Rajeev
Vasant |
|
Address: |
Plot No. 29
& 30 (P) Sub Plot A, SEEPZ SEZ, ANDHERI (E) Mumbai 400 096 India |
|
Position: |
Director |
|
Passport
Number: |
Z2474657 |
|
Issuing
Country: |
Mumbai |
|
2 |
|
|
Name: |
Skywise Limited |
|
Address: |
3rd Floor,
Chinese Club Building, 21-22 Connaught Road Central, Hong Kong |
|
Position: |
Corporate
Secretary |
|
Registered
Number: |
860425 |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Unit 12, 10th
Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Hong
Kong |
Premises
Information
Office address:
|
Address: |
Unit No.12
(Formerly Known As Unit 11) On 10th
Floor Of Tower A Hunghom
Commercial Centre No.39 Ma Tau
Wai Road Kowloon |
|
Owners: |
Ko
Hing Sen (Joint Tenant) |
|
Memorial
Number: |
05072901500032 Assignment |
|
Date of
Instrument: |
2005-7-5 |
|
Date of
Registration: |
2005-7-29 |
|
Consideration
Value: |
History of
Premises Owners’
|
1 |
|
|
Memorial
No.: |
05061301650055 |
|
Date
of Instrument: |
2005-6-4 |
|
Date
of Registration: |
2005-6-13 |
|
Nature: |
Agreement
For Sale And Purchase Property |
|
In
Favor of: |
Kao Yuen (Joint
Tenant) Ko Hing Sen
(Joint Tenant) |
|
Consideration: |
HKD 980,000.00 |
|
2 |
|
|
Memorial
No.: |
UB6640522 |
|
Date
of Instrument: |
1996-6-8 |
|
Date
of Registration: |
1996-6-12 |
|
Nature: |
Agreement
For Sale And Purchase |
|
In
Favor of: |
First
Group Investment Limited |
|
Consideration: |
HKD
2,359,500.00 |
|
3 |
|
|
Memorial
No.: |
UB3791219 |
|
Date
of Instrument: |
1988-7-11 |
|
Date
of Registration: |
1988-8-8 |
|
Nature: |
Agreement
For Sale And Purchase |
|
In
Favor of: |
Booma
Aircargo Company Limited |
|
Consideration: |
HKD
1,548,800.00 |
Operation Information
Since the subject
refused to introduce any operation information for us, the operation
information is not available from any sources.
Settlements
Since the subject
refused to introduce its settlements information for us, the settlement information
is not available from any sources.
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’s
relevant staff rejected to disclose the
financial information, from other sources we could not obtain such information,
either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage Record
|
1 |
|
|
Company Name: |
Tara (Hong Kong) Limited |
|
Instrument of
Creating Mortgage: |
Deed of
debenture |
|
Date of
Creating Mortgage: |
2013-8-22 |
|
Amount Secured: |
“Secured
Indebtedness” means any sums (whether principal, interest, fees, expenses
legal costs or otherewise) which are or at any time may become payable by the
Borrower under the Loan Agreement and such other sums or moneys which are now
or may at any time hereafter be or become from time to time due, owing or
incurred by the Borrower to the Debenture Holder. |
|
Name of
Mortgagee: |
PUNJAB NATIONAL
BANK (INTERNATIONAL) LIMITED (“Mortgagee/Debenture Holder”） |
|
Address of
Mortgagee: |
1 Moorgate,
London Ec2r 6jh, England |
|
Description of
Property Mortgaged: |
Charges by way
of floating charge all its assets, goodwill, property, undertaking, rights
and revenues whatsoever and wheresoever both present and future including its
uncalled capital |
|
2 |
|
|
Company Name: |
Tara (Hong Kong) Limited |
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Instrument of
Creating Mortgage: |
GENERAL LETTER
OF HYPOTHECATION |
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Date of
Creating Mortgage: |
2012-12-10 |
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Amount Secured: |
ADVANCES AND
OTHER BANKING FACILITIES GRANTED TO THE COMPANY FROM TIME TO TIME |
|
Name of
Mortgagee: |
BANK OF INDIA
HONG KONG BRANCH (the "Bank”} |
|
Address of
Mortgagee: |
2/FL.,
RUTTONJEE CENTRE, 11 DUDDELL STREET, CENTRAL, HONG
KONG. |
|
Description of
Property Mortgaged: |
All bills of exchange
and/or invoices or other documents representing or relating to goods and all
goods thereby represented or to which the documents relate shall be
hypothecated to the "Bank" by way of first charge as a continuing
security for all sums in which the company may from time to time be actually
or contingently indebted or liable to the “Bank” on any account. The company
hereby undertake to provide the “Bank" with funds:- (a) To meet on demand all bills negotiated
or endorsed by the “Bank” for the undersigned which may be dishonoured on
presentation for acceptance or which may not be paid at the due date thereof
according to the original tenor thereof and a bill shall be deemed not to
have been paid if, at that date, funds have not been placed at your free disposal
for the whole sum due. (b) To reimburse the "Bank" for
all advances made against documents of title which may not have duly taken up
on presentation. (c) To meet re-exchange expenses and
interest. |
|
3 |
|
|
Company Name: |
Tara (Hong Kong) Limited |
|
Instrument of
Creating Mortgage: |
LETTER OF
SET-OFF & APPROPRIATION |
|
Date of
Creating Mortgage: |
2011-3-11 |
|
Amount Secured: |
ADVANCES AND
OTHER BANKING FACILITIES GRANTED TO THE COMPANY FROM TIME TO TIME |
|
Name of
Mortgagee: |
BANK OF INDIA HONG
KONG BRANCH |
|
Address of
Mortgagee: |
2/FL.,
RUTTONJEE CENTRE, 11 DUDDELL STREET, CENTRAL, HONG
KONG. |
|
Description of
Property Mortgaged: |
THE BANK SHALL
HAVE THE RIGHT AT ANY TIME AND WITHOUT PRIOR NOTICE TO THE COMPANY TO SET-OFF
ANY CREDIT BALANCES DUE TO THE COMPANY WHETHER IN THE COMPANY'S CURRENT/
SAVINGS ACCOUNT OR IN RESPECT OF MONEYS KEPT BY THE COMPANY ON TERMS DEPOSIT
OR DEPOSITS WITHDRAWABLE AFTER NOTICE OR ANY OTHER DEPOSIT(S) AT ANY OF THE
BANK’S BRANCHES, AGAINST THE OUTSTANDING DEBIT BALANCES OF THE COMPANY’S
LOAN/ OVERDRAFT/ CASH CREDIT/ TRADE FINANCE FACILITIES OR OTHER ADVANCE
ACCOUNT/S WITH THE BANK OR AGAINST ANY LIABILITY INCURRED OR TO BE INCURRED
BY THE COMPANY TO THE BANK WHETHER UNDER OR IN RESPECT OF GUARANTEES OR BILLS
OR OTHERWISE HOWSOEVER AND WHETHER SUCH LIABILITY BE ACTUAL OR CONTINGENT. |
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 |
Special
Note
Interview Details
|
Name |
The Operator |
Attachment
Unit 12, 10th
Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Hong
Kong
%20LIMITED%20-%20324478%2002-Jun-2015_files/image002.jpg)
Unit 12, 10th
Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Hong
Kong
%20LIMITED%20-%20324478%2002-Jun-2015_files/image004.jpg)
Unit 12, 10th
Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Hong
Kong
%20LIMITED%20-%20324478%2002-Jun-2015_files/image006.jpg)
Unit 12, 10th
Floor, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Hong
Kong
%20LIMITED%20-%20324478%2002-Jun-2015_files/image008.jpg)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.