MIRA INFORM REPORT
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Report No. : |
321791 |
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Report Date : |
14.05.2015 |
IDENTIFICATION DETAILS
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Name : |
GRACE KINGLAND INTERNATIONAL LIMITED |
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Registered Office : |
Unit 1005, 10F, Prosperous Building, 48-52 Des Voeux Rd. Central |
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Country : |
Hong Kong
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Date of Incorporation : |
27.08.2012 |
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Com. Reg. No.: |
1791696 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Offshore Company |
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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 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.
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Source
: CIA |
Contact Points
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Company Name (in Chinese): |
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Company Name (in English): |
GRACE KINGLAND INTERNATIONAL LIMITED |
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Supplied Name: |
GRACE KINGLAND INTERNATIONAL LTD |
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Supplied Address: |
Unit 602, 6/F , Causeway Bay Commercial Building , Sugar Street Causeway
Bay, Hong Kong |
Note: The exact name is
as above.
Special Note
We cannot find subject’s any operation
information or valid contact information in Hong Kong through public files
according to the supplied name.
According to the supplied address, we found a
telephone number +852-2730-2999 from public files. We tried to contact the
subject through the number, and a lady answered the phone said her company name
is Hong Kong Secretarial Limited which is engaged in providing the registration
and accounting services. She introduced that the supplied address is her
company’s address. She also said the subject is one of the customers of her
company, but she declined to disclose any other information for confidential
reasons.
We visited the registered address, but did not
find the subject locating on it, and we found another company named Offshore
(Central) Business Centre locating on it. The relevant staff said her company
is engaged in providing of registration services, but declined to disclose any
other information.
Based on subject’s registered files and our
investigation, we consider subject as an offshore company.
Company Identification Details
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Registered Name: |
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Registered Address: |
Unit 1005, 10F,
Prosperous Building, 48-52 Des Voeux Rd. Central, Hong Kong |
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Date of Registration: |
2012-8-27 |
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Registered Number: |
1791696 |
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Business Registration No.: |
60274497 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares@ HKD
1 (As of 2015.03, 1 HKD = 0.129 USD) |
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Legal Form: |
Private Limited Liability Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2014-8-27 |
History
Subject was incorporated on 2012-8-27 with the
registered number 1791696 as Private Limited Liability Company in Hong Kong.
Corporate Structure
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Shareholders
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Subscription Shares |
Proportion of Investment (%) |
|
|
Wang Xu Hua |
10,000 |
100% |
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Total |
10,000 |
100% |
Major Shareholder Information:
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Name: |
Wang Xu Hua |
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Address: |
Rm. 202, Unit 4, Bldg. 8, No. 7, Beinong
Rd., Huilongguan, Changping, Beijing, China |
Management Information
Core Management
Detailed Information of Directors:
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1 |
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Name: |
Wang Xu Hua |
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Address: |
Rm. 202, Unit 4, Bldg. 8, No. 7, Beinong Rd.,
Huilongguan, Changping, Beijing, China |
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Position: |
Director |
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ID Number: |
1102211964041112616 |
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2 |
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Name: |
Hong Kong Secretarial Limited |
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Address: |
Unit 802, 8/F., Ocean Centre, Harbour City,
5 Canton Road, Tst., Kowloon, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
850271 |
Operation Information
Subject does not have business entity in Hong
Kong.
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 does not have business entity in Hong
Kong, thus we cannot obtain the relevant information.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of
the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration
Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Attachment
Address: Unit 1005, 10F, Prosperous Building,
48-52 Des Voeux Rd. Central, Hong Kong
Prosperous Building, 48-52 Des Voeux Road,
Central, Hong Kong
Unit 1005, 10/F., Prosperous Building, 48-52
Des Voeux Road, Central, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.19 |
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|
1 |
Rs.100.57 |
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Euro |
1 |
Rs.72.07 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
TPT |
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 |
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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.