|
Report No. : |
327880 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINA DYNASTY TRADING LTD. |
|
|
|
|
Registered Office : |
C/o Team Victoria Ltd., Room D, 3/F., Thomson Commercial Building, 8-10 Thomson Road, Wanchai |
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
07.07.2009 |
|
|
|
|
Com. Reg. No.: |
50903844 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF LUGGAGE,
MOBILE PHONES, ACCESSORIES. |
|
|
|
|
No. of Employees : |
1 |
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 : |
Business is not active in Hongkong
|
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hongkong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
CHINA DYNASTY TRADING
LTD.
ADDRESS: C/o Team Victoria Ltd., Room
D, 3/F., Thomson Commercial Building, 8-10
Thomson Road, Wanchai, Hong Kong.
PHONE: 852-2528
6776
FAX: 852-2865
1662
Managing Director:
Dipak Goyal
Incorporated on: 7th July, 2009.
Organization: Private Limited Company.
Issued Share Capital: HK$7,800,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employee: 1
Main Dealing Banker: Bank
of Baroda, Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Office:-
c/o Team Victoria Ltd.
Room D, 3/F., Thomson Commercial Building, 8-10 Thomson
Road, Wanchai, Hong Kong.
[Tel: 852-2528 6776
Fax: 852-2865 1662]
China Office:-
Room 1511, Glittery City, Shennanzhong Road, Futian
District, 518033 Shenzhen Special Economic Zone, China.
[Tel: 86-755-8389
1010
Fax: 86-755-8389
3811
E-mail: infocdtl@gmail.com]
50903844
1351164
Managing Director:
Dipak Goyal
HK$7,800,000.00
(As per registry
dated 07-07-2014)
|
Name |
|
No. of shares |
|
Ram Kishan AGARWAL |
|
6,240,000 |
|
Dipak GOYAL |
|
1,560,000 |
|
|
|
–––––––– |
|
|
Total: |
7,800,000 ======= |
(As per registry
dated 07-07-2014)
|
Name (Nationality) |
Address |
|
Dipak GOYAL |
House No. 13A, 2/F., Road No. 48 West Punjabi Bagh, New
Delhi 110026 48 West Punjabi Bagh, India. |
|
Ram Kishan AGARWAL |
429 Marwari Mohalla, Near UcoBank, Begusarai, India. |
(As per registry
dated 07-07-2014)
|
Name |
Address |
Co. No. |
|
Team Victoria Ltd. |
Room D, 3/F., Thomson Commercial Building, 8-10 Thomson
Road, Wanchai, Hong Kong. |
0712532 |
The subject was
incorporated on 7th July, 2009 as a private limited liability company under the
Hong Kong Companies Ordinance.
Apart from these,
neither material change nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of luggage, mobile phones, accessories.
Brand Names: MARK & POLO, FLY LITE.
Employees: 1.
Commodities Imported:China.
Markets: India,
Nepal, other Asian countries, Africa, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$7,800,000.00
Mortgage or Charge:
(See attachment)
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Adequate
for current running.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: Bank of Baroda,
Hong Kong Branch.
Standing: Small.
Having issued
7,800,000 ordinary shares of HK$1.00 each, China Dynasty Trading Ltd. is
jointly owned by Mr. Ram Kishan Agarwal, holding 80% interests; and Mr. Dipak
Goyal, holding 20%. Both of whom are
Indian. The former is an India passport
holder and does not have the right to reside in Hong Kong permanently. The latter is a Hong Kong ID Card
holder. He is also the managing director
of the subject.
The subject’s
registered office is in a commercial service firm located at “Room D, 3/F.,
Thomson Commercial Building, 8-10 Thomson Road, Wanchai, Hong Kong” known as
“Team Victoria Ltd.” which is handling its correspondences and documents. This secretarial firm is also the corporate
secretary of the subject. Your given
phone and fax number 852-2528 6776 and 852-2865 1662 respectively belongs to
Team Victoria Ltd.
The subject has had
an office in Shenzhen Special Economic Zone, China bearing the same name
[CDTL]. The subject and CDTL are engaged
in the same lines of business.
Most of the time,
Dipak Goyal is in Shenzhen SEZ handling the business CDTL. He can be reached at his mobile phone number
852-6314 6903 when he is in Hong Kong.
CDTL is professional
in all kinds of luggage in China. Its
main markets include the Middle and Eastern African countries. In recent years, it also has been trading in
mobile phones and accessories. Mobile
phones are exported to India. The brand
name of its mobile phone is Maxwood. According to the subject, it also trades in
UBOX camera accessories.
The subject was
registered with the Office of the Communications Authority (OFCA), The
Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer
(Unrestricted) Licensee. The subject
bears the licence No. of RU00152176-RU.
However, it name has not been found in the latest list (as at 15 June,
2015).
Besides mobile phone
and camera accessories, the subject also trades in luggage. CDTL has its own luggage brands MARK &
POLO and FLY LITE.
Its associated factories are in Zhejiang and Guangdong Province, China.
It has built up its
sales network in India, Nepal and the other South Asian countries, Africa, etc.
The products in these brands are well received by foreign customers and have
developed a rather good reputation.
CDTL has a strong
business team with professional designers and strict Quality Control [QC].
The subject’s
business is chiefly handled by Mr. Dipak Goyal.
History in Hong Kong is about six years.
On the whole,
consider it good for business engagements on L/C basis or in small credit
amounts.
|
Date |
Particulars |
Amount |
|
24-05-2010 |
Instrument: Memorandum Property: Distinctive 91220300001186 04-08-2009 US$100,000.00 05-05-2011 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
|
05-12-2011 |
Instrument: Memorandum Property: Distinctive 91220300001181 05-05-2011 US$101,061.67 04-05-2012 91220300001186 09-05-2011 US$101,142.56 08-05-2012 91220300001229 08-07-2011 US$
50,586.44 07-07-2012 91220300001579 14-09-2011 US$
50,000.00 12-09-2012 91220300001583 27-09-2011 US$100,000.00 25-09-2012 91220300001588 10-10-2011 US$
10,000.00 09-10-2012 91220300001589 14-10-2011 US$
75,000.00 13-10-2012 91220300001605 23-11-2011 US$
15,000.00 12-11-2012 Mortgagee: Bank of Baroda, Hong Kong Branch. |
Loan or credit or other facilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.