MIRA
INFORM REPORT
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Report No. : |
311657 |
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Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ORANGE WORLD TRADE LTD. |
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Registered Office : |
c/o Legal International Creation Ltd. Room 1801, 18/F., Chinachem |
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Country : |
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Date of Incorporation : |
24.10.2014 |
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Com. Reg. No.: |
6396789 |
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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 : |
No employees in NOTE: 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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 
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 |
Note
The subject is not located at Level 10,
Central Building,
1-3 Pedder Street, Central, Hong Kong” where is the operating office of a
commercial service centre known as ‘Compass Offices’.
Company name
ORANGE WORLD TRADE LTD.
ADDRESS
Registered
Office:-
c/o Legal International Creation Ltd.
Room 1801, 18/F., Chinachem Hollywood
Centre, 1 Hollywood Road, Central, Hong Kong.
BUSINESS REGISTRATION NUMBER
6396789
COMPANY FILE NUMBER
2159824
DATE OF INCORPORATION
24th October, 2014.
ISSUED SHARE CAPITAL
HK$750,000.00
SHAREHOLDER
(As per registry dated 25-11-2014)
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Name |
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No. of shares |
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Piyush GUPTA |
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750,000 ====== |
DIRECTOR
(As per registry dated 24-10-2014)
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Name (Nationality) |
Address |
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Piyush GUPTA |
Flat E, 63/F, Tower 6, Caribbean Coast, Tung
Chung, Lantau Island, Hong Kong. |
SECRETARY
As per registry dated 24-10-2014)
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Name |
Address |
Co. No. |
|
Legal International Creation Ltd. |
Room 1801, 18/F., Chinachem Hollywood
Centre, 1 Hollywood Road, Central, Hong Kong. |
1344920 |
GENERAL
Orange World Trade Ltd. was incorporated on
24th October, 2014 as a private limited liability company under the Hong Kong
Companies Ordinance.
The subject does not have its own operating
office. Its registered office is in a
commercial service firm located at ‘Room 1801, 18/F., Chinachem Hollywood
Centre, 1 Hollywood Road, Central, Hong Kong’ known as ‘Legal International
Creation Ltd.’ which is handling its correspondences and documents. This secretarial company is also the
corporate secretary of the subject.
The subject has no employees in Hong Kong.
According to the Companies Registry of Hong
Kong, the subject has issued 750,000 ordinary shares of HK$1.00 each which are
wholly-owned by Mr. Piyush Gupta. 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 firm knows nothing about its business.
The director of the subject cannot be
reached. No information of the subject
can be obtained from our secondary sources.
The subject’s business in Hong Kong is not
active. History in Hong Kong is just
over four 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.75 |
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|
1 |
Rs.94.60 |
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Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.