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MIRA INFORM REPORT
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Report No. : |
503409 |
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Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
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Name : |
UNIPEARL INTERNATIONAL CO., LIMITED |
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Registered Office : |
7/F., 121 Electric Road, Causeway Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.08.2013 |
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Com. Reg. No.: |
61921423 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Logistic Service Provider. |
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No. of Employees : |
1 |
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 : |
Moderate |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 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 |
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 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 & address
UNIPEARL INTERNATIONAL CO., LIMITED
ADDRESS: 7/F., 121 Electric
Road, Causeway Bay, Hong Kong.
PHONE: 852 – 9088 0536
FAX: Not available
E-MAIL: dhungana@msn.com
MANAGEMENT
General Manager: Mr. Dhungana
Steetaram
SUMMARY
Incorporated on: 21st August, 2013.
Organization: Private Limited Company.
Issued Share Capital: HK$10,000.00
Business Category: Logistic
Service Provicer.
Employee: 1.
Main Dealing Banker: Not
available.
Banking Relation: Not applicable.
Name
UNIPEARL INTERNATIONAL CO., LIMITED
ADDRESS
Registered
Office:-
7/F., 121 Electric Road, Causeway Bay, Hong Kong.
BUSINESS
REGISTRATION NUMBER
61921423
COMPANY
FILE NUMBER
1955734
MANAGEMENT
General Manager: Mr. Dhungana
Steetaram
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As per registry dated 21-08-2017)
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Name |
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No. of shares |
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XIA Kun |
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10,000 ===== |
DIRECTOR
(As per registry dated 21-08-2017)
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Name (Nationality) |
Address |
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XIA Kun |
Room 1103, No. 10, Huarong Street, Haizhu District, Guangzhou City,
Guangdong Province, China. |
HISTORY
The subject was incorporated on 21st August, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Flat 1801A,
18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong where
was the old operating office of a commercial service provider Walwick
Registrations Ltd. This company moved to
‘Flat A, 9/F., Hennessy Plaza, 164-166 Hennessy Road, Wanchai, Hong Kong’ in
August 2014, so did the subject.
The subject moved to the present address with effect from 21st August,
2017.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities & Lines: Logistic
Service Provider.
Employee: 1.
Commodities Imported: No
applicable.
Business Territories: China, other Asian countries,
Europe, Middle East, North America, etc.
Terms/Sales/Services: As per contracted.
Terms/Buying: Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Keeping
a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Adequate
for current running.
Payment: No Complaints.
Commercial Morality: Satisfactory.
Banker: Not available.
Standing: Small.
GENERAL
Unipearl International Co., Limited was incorporated in August 2013 as a
private limited liability company.
The subject’s registered office is in a residential building located at
7/F., 121 Electric Road, Causeway Bay, Hong Kong. The residential building is not trespassed by
outsiders.
The subject has an employee in Hong Kong known as Mr. Dhungana
Seetaram. He is residing at the
above-mentioned address.
He can be reached at his Hong Kong mobile phone number 852-9088 0536.
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. Xia Kun
who is a China merchant. He is a China
ID holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The director of the subject cannot be reached as he is in China.
From our secondary sources and according to Mr. Dhungana Seetaram, the
subject has had an associated company in Guangzhou, Guangdong Province, China
which is a logistic service provider. It
is engaged in purchasing commodities in China for overseas customers. It purchases garments, textiles, electrical
and electric products, etc. It also
purchases other commodities as entrusted by foreign customers, especially those
in India.
The business of the subject is chiefly handled by Mr. Dhungana Seetaram
in Hong Kong while its China business is handled by Mr. Xia Kun.
The subject’s history in Hong Kong is over four years and seven months.
On the whole, consider the subject good for 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 65.45 |
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1 |
INR 93.27 |
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Euro |
1 |
INR 80.74 |
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HKD |
1 |
INR 8.37 |
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 : |
TPT |
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
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.