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Report No. : |
308671 |
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Report Date : |
02.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ELITE RICH LTD. |
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Registered Office : |
Flat A, 17/F., Block 3, Golden Dragon Industrial Centre, 172-180 Tai Lin
Pai Road, Kwai Chung, New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
07.01.2011 |
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Com. Reg. No.: |
53627037 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is Importer, Exporter and Wholesaler of all kinds of fabrics. |
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No. of Employee : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 34.9 million in 2012, 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 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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.
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Source
: CIA |
ELITE RICH
LTD.
Flat A, 17/F.,
Block 3, Golden Dragon Industrial Centre, 172-180 Tai Lin Pai Road, Kwai Chung,
New Territories, Hong Kong.
PHONE: 852-3153 5628
FAX: 852-3153 5618
E-MAIL: richard@eliterich.com
Managing
Director: Mr. Wai Tak Choi, Richard
Incorporated on: 7th January, 2011.
Organization: Private Limited Company.
Issued Share Capital: HK$1.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6.
Main Dealing Banker: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Banking Relation: Satisfactory.
53627037
1549557
Managing Director: Mr. Wai Tak Choi, Richard
(Hong Kong mobile phone number: 852-9199 7503)
HK$1.00
(As
per registry dated 07-01-2015)
|
Name |
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No.
of share |
|
WAI Tak Choi, Richard |
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1 = |
(As
per registry dated 07-01-2015)
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Name (Nationality) |
Address |
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WAI Tak Choi,
Richard |
Flat A, 2/F., Fuk Kwan House, 11 Fuk Kwan
Avenue, Hong Kong. |
|
LAM So Shan,
Susana |
Flat A, 2/F., Fuk Kwan House, 11 Fuk Kwan
Avenue, Hong Kong. |
LAM So Shan,
Susana (As per registry dated
07-01-2015)
The
subject was incorporated on 7th January, 2011 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 fabrics.
Employees: 6.
Commodities Imported: China, other Asian countries, etc.
Markets: Other Asian countries, Europe, etc.
Terms/Sales: As per contracted.
Terms/Buying: As per contracted.
Issued Share Capital:
HK$1.00
Profit or Loss: Made small profits in past two years.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking
facilities.
Payment: Met trade commitments as required.
Commercial
Morality: Satisfactory.
Banker: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Standing: Small.
Having
issued just one ordinary share of HK$1.00, Elite Rich Ltd. is wholly owned by
Mr. Wai Tak Choi, Richard who is a Hong Kong merchant. He is also only director of the subject. The reserve director of the subject is
Ms. Lam So Shan, Susana.
Incorporated
in January 2011, the subject is a fabric trader. It is sourcing fabrics from China, the other
Asian countries and re-exporting to Asian countries, Europe, the United States,
etc. Business is normal.
We
can reach Richard Wai at his Hong Kong mobile phone number
852-9199 7503. He is cooperative.
Handled
by Richard Wai, the business of the subject has been expanding and
improving. History in Hong Kong is over
four years and a month.
On
the whole, consider it good for normal business engagements in small credit
amounts for the time being.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
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|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
ASH |
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.