MIRA
INFORM REPORT
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Report No. : |
348749 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
SAITELL TECHNOLOGY |
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Registered Office : |
Flat/Rm 819-820 8/F |
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Country : |
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Date of Incorporation : |
20.06.2008 |
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Com. Reg. No.: |
39471406 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
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 : |
Moderate |
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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
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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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US for the first time in modern history. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China also implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Contact Points
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Company Name: |
Saitell Technology |
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Supplied Name: |
SAITELL TECHNOLOGY |
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Supplied Address: |
SHOP 2103,LEVEL 2,MA ON SHAN PLAZA,SAI SHA ROAD,MA ON SHAN,NEW
TERRITORIES, HONG KONG. |
Special Note
We made an on-site visit
to the supplied address and didn’t find
subject on this location.
According to the supplied
name and address, we can not find any operation information or other valid
contact information of subject.
We found subject’s registration information as follows for reference.
Company Identification Details
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Registered Name: |
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Registered Address: |
Flat/Rm 819-820
8/F China Insurance Group Building 73 Connaught Road Central Central HK |
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Date of Registration: |
2008-6-20 |
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Business Registration No.: |
39471406 |
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Registered Capital: |
N/A |
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Legal Form: |
Proprietorship |
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Principal Activities: |
N/A |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
Notes: It is not required
for Proprietorship to register
capital. Since we didn’t contact subject successfully, the principal activities
and staff number are not available from any sources.
History
Subject was incorporated on 2008-6-20 with the
Business Registration No.: 39471406 as Pr Proprietorship
in Hong Kong.
Corporate Structure
Subject did not register
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Owner
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Name: |
Huang Cuilan |
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Address: |
14C, Block 2, Mountain Shore, Yuk Tai Street, Ma On Shan, New Territories, Hong Kong. |
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ID Number: |
R5894858 |
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Date of Appointment: |
2008-6-20 |
Operation Information
From registration files, we found subject’s
registered operation information is as following:
Trading.
Since we failed to contact with the subject,
the above information cannot be confirmed by the subject.
Settlements
Since we didn’t contact subject successfully,
the settlement information is not available from any sources.
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.
Since we didn’t contact subject successfully,
the financial information is not available from any sources.
Bankers
Since we didn’t contact subject successfully, the bank information is
not available from any sources.
Public
Mortgage Record
No mortgage of subject were
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
We made an on-site visit to the supplied
address and didn’t find subject on this location.
SHOP 2103,LEVEL 2,MA ON SHAN PLAZA,SAI SHA ROAD,MA ON SHAN,NEW
TERRITORIES, HONG KONG.
SHOP 2103,LEVEL 2,MA ON SHAN PLAZA,SAI SHA ROAD,MA ON SHAN,NEW
TERRITORIES, HONG KONG.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
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|
1 |
Rs.100.11 |
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Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
SDA |
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.