MIRA INFORM REPORT

 

 

Report No. :

350101

Report Date :

21.11.2015

 

IDENTIFICATION DETAILS

 

Name :

BRIGHT CHAMP INTERNATIONAL LTD.

 

 

Registered Office :

Room 4, 4/F., Cheuk Nang Centre, 9 Hillwood Road, Tsimshatsui, Kowloon

 

 

Country :

Hongkong

 

 

Date of Incorporation :

18.04.2014

 

 

Com. Reg. No.:

63224495

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Not Available

 

(Note: We tried to confirm obtain the details activity but the same is not available from any source.)

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

No Operating Office in Hongkong

 

 

Payment Behaviour :

Unknown

 

 

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)

Hongkong

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

HONGKONG - 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.

 

Source : CIA

 

Company Name

 

BRIGHT CHAMP INTERNATIONAL LTD.

 

 

ADDRESS

 

Registered Office:-

Room 4, 4/F., Cheuk Nang Centre, 9 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong.

 

(Formerly located at:

c/o Buttar.HK Ltd./Buttar Secretarial Ltd.

Unit B, 1/F., Mau Lam Commercial Building,

16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.)

 

 

BUSINESS REGISTRATION NUMBER

 

63224495

 

 

COMPANY FILE NUMBER

 

2085029

 

 

DATE OF INCORPORATION

 

8th April, 2014.

 

 

ISSUED SHARE CAPITAL

 

HK$10,000.00

 

 

SHAREHOLDER

(As per registry dated 08-04-2015)

 

Name

 

No. of shares

Charaya Deepak

 

10,000

=====

 

 

DIRECTOR

(As per registry dated 02-10-2015)

 

Name

(Nationality)

 

Address

Apurv RATAN

Flat No-402 Bashudha Aptt., Alpana Market Patliputra, Patna Bihar 800013, India.

 

 

SECRETARY

(As per registry dated 08-04-2015)

 

Name

Address

Co. No.

Buttar Secretarial Ltd.

Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New Territories, Hong Kong.

2086550

 

 

HISTORY

 

The subject was incorporated on 8th April, 2014 as a private limited liability company under the Hong Kong Companies Ordinance.

 

Formerly the subject’s registered address was located at ‘Unit B, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong’ where was the operating office of a commercial service provider known as Buttar Secretarial Ltd.  It moved to ‘Room 4, 4/F., Cheuk Nang Centre, 9 Hillwood Road, Tsimshatsui, Hong Kong’ with effect from 3rd June, 2015.  But it has moved out since late October 2015.  The current whereabouts are unknown to us.

 

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

GENERAL

 

Bright Champ International Ltd. was incorporated on 8th April, 2014 as a private limited liability company under the Hong Kong Companies Ordinance.

 

According to our spot investigation, formerly the subject’s registered office was located at ‘Room 4, 4/F., Cheuk Nang Centre, 9 Hillwood Road, Tsimshatsui, Hong Kong’, however it has moved out since late October 2015.  The current whereabouts are unknown to us.  The office is now vacant.

 

According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Charaya Deepak who is an India merchant.

 

The director of the subject is Mr. Apurv Ratan who is also 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.

 

According to the subject, it is providing clients with all kinds of technical supporting services in computer:-

·         Technical Support;

·         Networking and LAN;

·         Complete PC Check-up;

·         PC Speed Optimization;

·         Antivirus Issues;

·         Software Installation;

·         Drivers Support;

·         Trojan Removal;

·         Window Start-up Issues;

·         Registry Errors; &

·         Printer and Hardware Support.

 

The subject is specialised in the following fields:

·         Computer Support --- HP, DELL, Toshiba, Acer, Apple

·         Printer Support --- HP, Canon, Brother

·         Anti-Virus Support --- AVG, McAfee, Kaspersky, System Mechanic, Norton

·         Accounting Support --- QuickBooks

 

According to the subject, it is able to support 150 desktop software applications, servers, hardware devices, printer, peripherals, routers and modems.

 

The subject was founded by a team of computer professionals passionate about raising the bar on service quality with a view to provide technical supporting service and with it educate the customers about their computers and suggest safety methods to improve the computer’s performance.  Its certified engineers have assisted over 10,000 consumers with their PCs and a wide range of devices including printers, routers, home networks, digital cameras, MP3 players, etc.

 

The subject’s history in Hong Kong is just over a year and seven months.

 

Since the subject’s current whereabouts are unknown to us, consider it good for business engagements on L/C basis.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.09

UK Pound

1

Rs.101.04

Euro

1

Rs.70.86

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

NIT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

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

 

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

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

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

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

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%)

 

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