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MIRA
INFORM REPORT
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Report No. : |
505686 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG SKYHALL LIMITED |
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Registered Office : |
Eastop Business Consultancy Ltd. D, 16/F., One Capital Place, 18 Luard Road,
Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.01.2013 |
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Com. Reg. No.: |
60953928 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm obtain the detailed activity but the same is not available from any sources] |
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No. of Employees : |
It is to be noted that
the company does not have its own operating office in Hong Kong. The company
uses the address of its secretariat as its correspondence address only.
Subject operates from some other country and does not have a base in Hong
Kong. Such companies are registered in Hong Kong just to tax benefit purpose
and due to the strict privacy laws prevailing in the country. In such cases,
the companies are not required to have any employees in Hong Kong nor do have
an office there. |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
No operating office in Hong Kong |
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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
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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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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 and address
HONGKONG SKYHALL LIMITED
Address: c/o Eastop
Business Consultancy Ltd.
Unit D,
16/F., One Capital Place,
18 Luard
Road, Wanchai,
Hong Kong.
[Formerly located at:
c/o CR
Services Ltd.
Unit A1,
7/F., Cheuk Nang Plaza,
250
Hennessy Road,
Wanchai,
Hong Kong.]
Company name
HONGKONG SKYHALL LIMITED
ADDRESS
Registered Office:-
c/o Eastop Business Consultancy Ltd.
Unit D, 16/F., One Capital Place, 18 Luard Road, Wanchai,
Hong Kong.
Associated Company:-
Hebei Skyhall Metal Fence Co. Ltd., China.
BUSINESS REGISTRATION NUMBER:
60953928
COMPANY FILE NUMBER: 1859344
DATE OF INCORPORATION: 31st
January, 2013.
ISSUED SHARE CAPITAL:
HK$10,000.00
SHAREHOLDER
(As per registry dated 31-01-2018)
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Name |
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No. of shares |
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HAN Xiaolong |
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10,000 ===== |
DIRECTOR
(As per registry dated 31-01-2018)
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Name (Nationality) |
Address |
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HAN Xiaolong |
Room B-705, World Trade Centre, No. 6 Hong Kong Middle Raod, Shinan
District, Qingdao City, Shandong Province, China. |
SECRETARY
(As per registry dated 31-01-2018)
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Name |
Address |
Co. No. |
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Eastop Business Consultancy Ltd. |
Unit D, 16/F., One Capital Place, 18 Luard Road, Wanchai, Hong Kong. |
1367421 |
HISTORY
The subject was incorporated on 31st January, 2013 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered address was located at Unit A1, 7/F.,
Cheuk Nang Plaza, 250 Hennessy Road, Wanchai, Hong Kong where was the operating
address of a commercial service provider known as CR Services Ltd. The subject’s registered office moved to the
present address in September 2016 as it has changed its commercial service
provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
GENERAL
Hongkong Skyhall Limited was incorporated on 31st January, 2013 as a
private limited liability company under the Hong Kong Companies Ordinance.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at ‘Unit D, 16/F., One Capital Place, 18 Luard Road,
Wanchai, Hong Kong’ known as ‘Eastop Business Consultancy Ltd.’ [Eastop] which
is handling its correspondences and documents.
Eastop is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
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. Han
Xiaolong 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. His registered
address is in Qingdao City, Shandong Province, China.
The subject has had an associated company in China. Its brief information is as follow:
Name: Hebei Skyhall Metal Fence
Co. Ltd. [Skyhall Fence]
Address: 4-1-1001, Xinshuiyuan,
No. 16, Huaqing South St., Shijiazhuang City, Hebei Province, China.
Tel.: 86-132 3111 6517
Fax: 86-311-8610 2039
E-mail: info@skyhall.org
Sales Manager: Mr. Ray Han
Xiaolong
Skyhall Fence was founded in 2009.
Being as a professional fencing team, Skyhall Fence is specialized in
developing and exporting fence system from China.
As one of the leading fence companies in China, Skyhall Fence has its
own factory. It is able to offer
customers with direct sales price. Its
products are as follow:
110 Welded Mesh Fence
120 Euro Fence
130 BRC Fence
140 Double Wire Fence
150 High Security Fence
210 Chain Link Fence
220 Gabion Basket
230 Field Fence
310 Barbed Wire
320 Concertina Razor Wire
510 Picket Fence
520 Palisade Fence
710 Temporary Fence
720 Portable Fence
910 Airport Fence
Its products have been exported to the other Asian countries, North
& South America, Europe, Australia, Africa, Europe and the Middle
East. Business active.
The subject’s business in Hong Kong is not active. History in Hong Kong is over five years and
two months.
On the whole, since the subject does not have its own operating office
and has no employees in Hong Kong, consider it good for business engagements on
L/C basis.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject operates
from some other country and does not have a base in Hong Kong. Such companies
are registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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HKD |
1 |
INR 8.47 |
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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NIS |
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Report Prepared
by : |
DNS |
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
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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.