MIRA INFORM REPORT
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Report No. : |
343574 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MING TRADING |
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Registered Office : |
Flat B Tower 12A 19F Costa Del Sol (Phase IIB) Laguna Verde Hung Hom KL |
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Country : |
Hongkong |
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Date of Incorporation : |
11.09.2002 |
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Com. Reg. No.: |
32959215 |
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Legal Form : |
Sole Proprietorship |
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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 : |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hongkong |
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 |
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 |
Contact Points
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Company Name: |
Ming Trading |
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Supplied Name: |
Ming Trading |
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Supplied Address: |
Flat B 19F, Tower 12A Costa Del Sol (Phase IIb) Laguna Verde Hung Hung
Hom CityName : |
Note: The exact name is as above.
Special Note
We cannot obtain any operation or contact
information of the subject from public files according to the supplied name.
We arranged the visit for the supplied
address, which is also subject’s registered address, but found it belongs to a
residential area. The guard of the building did not let us enter, so we cannot
check whether the subject is located at it.
From registration files, we found subject is
engaged in trading of jewelry and diamonds, etc. but which is not confirmed by
the subject.
Up to the date of reporting, we failed to get
in touch with subject. If you can supply further information such as current
telephone number, we’d like to have the investigation resumed.
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 B Tower 12A
19F Costa Del Sol (Phase IIB) Laguna Verde Hung Hom KL Hong Kong |
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Date of Registration: |
2002-9-11 |
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Business Registration No.: |
32959215 |
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Registered Capital: |
N/A |
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Legal Form: |
Sole 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 |
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Date of Last Annual Return: |
-- |
Notes: We cannot obtain
the registered capital for the company with the legal form of Sole
Proprietorship.
Since we didn’t find subject, the principal activities
and staff number are not available from any sources.
History
Subject was incorporated on 2002-9-11 with the
business registered number 32959215 as Sole 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
|
Name: |
Shah, Manish Babubhai |
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Position: |
Owner |
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Address: |
Flat B-2 13F Hankow Center 4-A Ashley Rd.
TST KL Hong Kong |
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Incoming Date: |
2002-9-11 |
Operation Information
Offices & Factories
We cannot confirm subject current trading
address at this stage.
Operation Information
From public files, we cannot obtain any
operation information of the subject. Since we did not get in touch with the
subject, the information is not available from any other source.
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 get in touch with subject, the
relevant information is not available from any sources.
Bankers
Since we didn't get in touch with subject, the
bank information is not available from any sources.
Public
Mortgage Record
No mortgage record of the 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: Flat B, Tower 12A, 19F, Costa Del Sol
(Phase IIB) Laguna Verde Hung Hom Kowloon Hong Kong
Costa Del Sol (Phase IIB) Laguna Verde Hung
Hom Kowloon Hong Kong
Costa Del Sol (Phase IIB) Laguna Verde Hung
Hom Kowloon Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.