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Report No. : |
327299 |
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Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MAM IMPEX
HONG KONG PVT
LTD. |
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Registered Office : |
c/o Global Associates
Ltd., Unit-M-4, 10/F., Tack Building, 48 Gilman Street, Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.08.2014 |
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Com. Reg. No.: |
63666455 |
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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 Employee : |
Not Available 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
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
MAM
IMPEX HONG KONG
PVT LTD.
c/o Global
Associates Ltd.
Unit-M-4, 10/F.,
Tack Building,
48 Gilman Street,
Central,
Hong Kong.
(Your
enquiry given as: MAM IMPEX HONGKONG PVT LTD of the same address.)
Registered Office:- c/o Global Associates Ltd.
Unit-M-4,
10/F., Tack Building, 48 Gilman Street, Central, Hong Kong.
63666455
2128989
5th August, 2014.
HK$10,000.00
(As
per registry dated 11-08-2014)
|
Name |
|
No.
of shares |
|
GRL14 Ltd. OMC Chambers,
Wickhams Cay1, Road Town, Tortola, British Virgin Islands. |
|
1 |
|
Haresh Bhanjibhai SONIGARA |
|
9,999 |
|
|
|
–––––– |
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|
Total: |
10,000 ===== |
(As
per registry dated 11-08-2014)
|
Name (Nationality) |
Address |
|
Haresh
Bhanjibhai SONIGARA |
16/362 Asmita C.H.S, Sector 3 Charkop, Kandivali-West,
Mumbai-400067 MS, India. |
(As
per registry dated 11-08-2014)
|
Name |
Address |
Co.
No. |
|
Global
Associates Ltd. |
Unit A, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong. |
1695695 |
The
subject was incorporated on 5th August, 2014 as a private limited liability
company under the Hong Kong Companies Ordinance.
Originally
the subject was registered under the name of Mam Impex India Pvt Ltd., name
changed to the present style on 5th August, 2014.
Formerly
the subject’s registered address was located at 14/F., Chun Wo Commercial
Centre, 25 Wing Wo Street, Central, Hong Kong where was the operating address
of a secretarial firm known as GNL12 Ltd.
The subject changed its registered address to the present one with
effect from 11th August, 2014 as it has changed its commercial service
provider since then.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Mam
Impex Hong Kong Pvt Ltd. was incorporated on 5th August, 2014 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-M-4, 10/F., Tack Building, 48 Gilman Street, Central, Hong Kong.’
known as ‘Global Associates Ltd.’ [GAL] which is handling its correspondences
and documents. GAL is also the corporate
secretary of the subject. ‘Unit-M-4’ is
the file number of the subject in the secretarial company.
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 which are almost wholly-owned by Mr. Haresh Bhanjibhai
Sonigara.
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’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 he is not in Hong Kong.
From
our secondary sources, the subject has had an associated company in India known
as Mam Impex Pvt Ltd. Haresh Bhanjibhai
Sonigara is also one of the directors of this company.
The
subject’s business in Hong Kong is not active.
History in Hong Kong is just over ten 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
|
Report Prepared
by : |
ASH |
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.