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MIRA INFORM REPORT
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Report No. : |
501057 |
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Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
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Name : |
MADDERLAND LIMITED |
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Registered Office : |
Unit F1, 8/F., Kaiser Estate Phase 1, 41 Man Yue Street, Hunghom,
Kowloon |
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Country : |
Hongkong |
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Date of Incorporation : |
14.07.2014 |
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Com. Reg. No.: |
63573759 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, exporter and wholesaler of all kinds of diamond jewellery, gem set, jewellery – silver. |
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No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Hongkong |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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, which took effect in 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Company
name
MADDERLAND LIMITED
ADDRESS: Unit
F1, 8/F., Kaiser Estate Phase 1, 41 Man Yue Street, Hunghom, Kowloon,
Hong Kong.
PHONE: 852-2362
2081
FAX: 852-2362
2015
MANAGEMENT
Managing Director:
Ms. Yan Hui Chuan Jennifer
SUMMARY
Incorporated on: 14th July, 2014.
Organization: Private Limited Company.
Issued Share Capital: HK$3.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 4.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit F1, 8/F., Kaiser Estate Phase 1, 41 Man Yue Street,
Hunghom, Kowloon, Hong Kong.
Associated
Companies:-
Crystal Rama Ltd., Hong Kong. (Same address)
Yanan International Ltd., Hong Kong. (Same address)
BUSINESS
REGISTRATION NUMBER
63573759
COMPANY
FILE NUMBER:
2119765
MANAGEMENT
Managing Director:
Ms. Yan Hui Chuan Jennifer
ISSUED
SHARE CAPITAL
HK$3.00
SHAREHOLDER
(As per registry dated 14-07-2017)
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Name |
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No. of shares |
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YAN Hui Chuan |
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3 = |
DIRECTOR
(As per registry dated 14-07-2017)
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Name (Nationality) |
Address |
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YAN Hui Chuan |
Flat D, 1/F., Tower 1, Greenery Place, 1 Town Park Road
South, Yuen Long, New Territories, Hong Kong. |
SECRETARY
(As per registry dated 14-07-2017)
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Name |
Address |
Co. No. |
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Best Corporate Services Consulting Co. Ltd. |
Room 1002-1003, 10/F., Tai Yau Building, 181 Johnston
Road, Wanchai, Hong Kong. |
1312717 |
HISTORY
The subject was incorporated on 14th July, 2014 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.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamond jewellery, gem set, jewellery – silver.
Employees: 4.
Commodities Imported: India,
China, Europe, etc.
Markets: Hong
Kong, Taiwan, North America, Asian countries, etc.
Terms/Sales: CAD or as per contracted.
Terms/Buying: L/C, T/T, O/A, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$3.00
Profit or Loss: Made
a small profit in 2016 & 17.
Condition: Business
keeps on improving.
Facilities: Adequate
for current running.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Madderland Limited was
incorporated on 11th July, 2004 as a private limited liability company.
According to the
Companies Registry of Hong Kong, the subject has issued just 3
ordinary shares of HK$1.00 each which are wholly-owned by Ms. Yan Hui Chuan who
is a Hong Kong businesswoman. She seems
to be a Taiwan merchant who has moved to Hong Kong for a long time.
She is a Hong Kong ID
holder and she is also the only director of the subject.
Besides the subject,
another company Crystal Rama Ltd. [CRL], a Hong Kong-registered company
also located at the same address. CRL
was incorporated on 26th April, 2006.
The subject and CRL
are engaged in the same lines of business, more or less. Both companies are jewellery wholesalers.
Another associated
company Yanan International Ltd., also a Hong Kong-registered company, is
located at the same address. This
company was incorporated on 19th March, 2014.
The subject is
trading in the following products:
Diamond Jewellery,
Gem Set Jewellery and Silver Jewellery, etc.
The subject has had
an associated factory in China which is supplying it with all kinds of
jewellery products.
Most of the subject’s
products are exported to Taiwan, the other Asian countries, Europe, North
America, etc. Business is normal. Taiwan seems to be its largest market.
The business of the
subject is chiefly handled by Ms. Yan Hui Chuan herself. Its history in Hong Kong is over three years
and eight months.
On the whole,
consider it good for normal business engagements in small credit amounts.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.06 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.78 |
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HKD |
1 |
INR 8.28 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.