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Report No. : |
344614 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
WINSTAR ASIA LTD. |
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Registered Office : |
Room 1622, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung,
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
04.01.2008 |
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Com. Reg. No.: |
38824749 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of Lighting Products |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
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.
|
Source
: CIA |
WINSTAR ASIA LTD.
ADDRESS: Room 1622, 16/F., Asia Trade
Centre, 79 Lei Muk Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 852-2316 7674
FAX: 852-2366
4220
E-MAIL: starwin@netvigator.com
Managing Director: Mr.
Joaquim Xavier D’Silva
Incorporated on: 4th January, 2008.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 3.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1622, 16/F.,
Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New Territories, Hong Kong.
Associated Company:-
J & M International
(HK) Ltd., Hong Kong. (Same address)
38824749
1200652
Managing
Director: Mr. Joaquim Xavier D’Silva
Contact
Person: Mr.
Fernandes Vincent
HK$10,000.00
(As
per registry dated 04-01-2015)
|
Name |
|
No.
of shares |
|
J
& M International (HK) Ltd., Hong Kong. |
|
1 |
|
Joaquim Xavier D’SILVA |
|
9,999 |
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|
–––––– |
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Total: |
10,000 ===== |
(As
per registry dated 04-01-2015)
|
Name (Nationality) |
Address |
|
Joaquim Xavier
D’SILVA |
Flat F, 8/F., Win Sing Building, 58 Des
Voeux Road West, Hong Kong. |
(As
per registry dated 04-01-2015)
|
Name |
Address |
Co.
No. |
|
CBS Pacific Ltd. |
Room A, 8/F., Kam Chung Commercial Building, 19‑21 Hennessy
Road, Wanchai, Hong Kong. |
0582043 |
The subject was incorporated on 4th January, 2008 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of lighting products.
Employees: 3.
Commodities Imported: China, other Asian countries, etc.
Markets: Southeast Asia, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
Issued Share Capital: HK$10,000.00
Profit or Loss: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
Having
issued 10,000 ordinary shares of HK$1.00 each, Winstar Asia Ltd. is chiefly
owned by Mr. Joaquim Xavier D’Silva. He
is a Hong Kong ID holder and has got the right to reside in Hong Kong
permanently. He is also the only
director of the subject.
The
minor shareholder of the subject J & M International (HK) Ltd. [J&M] is
a Hong Kong-registered company located at the same address. The subject and J&M are engaged in the
same lines of business.
The
subject is trading in the following commodities:-
·
LED Bulb;
·
LED COB Light;
·
LED Panel Light; &
·
LED Ceiling Light.
The factory of J&M is in Guangzhou City, Guangdong Province, China. The products of J&M are marketed in China and exported to Japan, Southeast Asia, Europe and the United States, etc.
J&M was incorporated in Hong Kong on 22nd November, 2000.
The contact person of J&M is Mr. Fernandes Vincent.
The history of the subject in Hong Kong is over seven years and two years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
ASH |
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.