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Report No. : |
348157 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GRANDLAND INC LTD. |
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Registered Office : |
C/o Hashmi Secretarial Services Ltd. Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue, Tsimshatsui, Kowloon |
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Country : |
Hong Kong
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Date of Incorporation : |
09.09.2015 |
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Com. Reg. No.: |
65224918 |
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Legal Form : |
Private Limited Liability Company |
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LINE OF BUSINESS : |
THE
SUBJECT IS A DIAMOND TRADER. |
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No. of Employees : |
No Employee in Hong Kong 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
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 12.5% 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.
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Source
: CIA |
GRANDLAND INC LTD.
Registered
Office:-
C/o Hashmi Secretarial Services Ltd.
Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue,
Tsimshatsui, Kowloon, Hong Kong.
Affiliated
Companies:-
Wala Capital Advisory LLP, India.
Wala Gems Ltd.
Maccabi Building, 01-Jabotinsky Street, Ramat Gan 52520, Israel.
[Tel: +972-3-7511319
Fax: +972-3-7511346
E-mail: israel@walagroup.co.in]
65224918
2283929
9th September, 2015.
HK$1.00
(As per registry dated 09-09-2015)
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Name |
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No. of share |
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Comkit Ltd., Hong Kong. |
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1 = |
(As per registry dated 15-09-2015)
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Name (Nationality) |
Address |
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Kaushik BORAD |
7 M.B Niwas Kokani Pada, Kurap Village Malad East, Mumbai, PIN:
400097, Maharashtra, India. |
(As per registry dated 15-09-2015)
|
Name |
Address |
Co. No. |
|
Hashmi Secretarial Services Ltd. |
Unit B, 3/F., Chun Wah Commercial Building, 30 Minden Avenue,
Tsumshatsui, Kowloon, Hong Kong. |
0770656 |
The subject was incorporated on 9th September, 2015 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A, 3/F.,
Cheong Sun Tower, 116-118 Wing Lok Street, Sheung Wan, Hong Kong where was the
operating office of a commercial service provider Comkit Ltd. It moved to the present address with effect
from 15th September, 2015 as it has changed its commercial service provider
since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Grandland Inc Ltd. was incorporated on 9th September, 2015 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 B, 3/F., Chun Wah Commercial Building, 30 Minden
Avenue, Tsumshatsui, Kowloon, Hong Kong’ known as ‘Hashmi Secretarial Services
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
just one ordinary share of HK$1.00 which is owned by Mr. Kaushik Borad who is
an India merchant.
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. His
registered address is in Maharashtra, India.
We can reach nobody at your Hong Kong mobile phone number 852-9415 5556
as the line ‘cannot be connected’. The
subject is a diamond trader.
According to your given Fax number 972-3-7511346 we can find a firm in
Israel known as Wala Gems Ltd. which belongs to the Wala Group. The phone number of Wala Gems Ltd. is
972-3-7511319.
Wala Gems diamond portfolio ranges from .05 points to 5 carats in round
and fancy shape, with various colours and clarities in both certified and
non-certified diamonds.
Wala Gems is a leading diamond manufacturer, importer and exporter. Its prime markets are India, Belgium, Israel,
Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over a month.
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 |
|
US Dollar |
1 |
Rs.65.67 |
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|
1 |
Rs.101.02 |
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Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.