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MIRA INFORM REPORT
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Report No. : |
484791 |
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Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BILLION VAST INDUSTRIAL LIMITED |
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Registered Office : |
C/o H & R Block
(HK) Ltd., Room 504, 5/F., Tung Wai Commercial Building, 109-111 Gloucester
Road, Wanchai |
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Country : |
Hongkong |
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Date of Incorporation : |
08.09.2014 |
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Com. Reg. No.: |
63801312 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture and sale of machinery products. Its machinery products
include ceramics machinery, energy resource machinery, stone processing machinery
and building material processing machinery. The ceramics machinery products
include cloth processing machine, turn over machine, desiccator, drying
apparatus, furnace, buffing machine, edge grinding machine, testing
equipment, stacking apparatus. It also manufactures clean coal gasification
machinery and others. |
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No. of Employees : |
No Employees in Hong Kong. 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. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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, effective 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 4.4% in 2014, but slowed to 2.9% in 2015. 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.
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Source
: CIA |
Company
Name
BILLION VAST INDUSTRIAL LIMITED
ADDRESS
Registered Office:-
C/o H & R Block (HK) Ltd.
Room 504, 5/F., Tung Wai Commercial Building, 109-111
Gloucester Road, Wanchai, Hong Kong.
Holding Company:-
Charm Elite Enterprises Inc., British Virgin Islands.
BUSINESS
REGISTRATION NUMBER
63801312
COMPANY
FILE NUMBER
2142374
DATE
OF INCORPORATION
8th September, 2014.
ISSUED
SHARE CAPITAL
HK$1.00
SHAREHOLDER
(As per registry dated 08-09-2016)
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Name |
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No. of share |
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Charm Elite Enterprises Inc. OMC Chambers Wickhams Cay I, Road Town, Tortola,
British Virgin Islands. |
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1 = |
DIRECTOR
(As per registry dated 08-09-2016)
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Name (Nationality) |
Address |
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MAO Juyong |
Room 1107, Third Staircase, Block 8, Jinbi Garden, No.
9 Dafu South Road, Foshan City, Guangdong Province, China. |
SECRETARY
(As per registry dated 08-09-2016)
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Name |
Address |
Co. No. |
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H & R Block (HK) Ltd. |
Room 504, 5/F., Tung Wai Commercial Building, 111
Gloucester Road, Wanchai, Hong Kong. |
0113523 |
HISTORY
The subject was
incorporated on 8th September, 2014 as a private limited liability company
under the Hong Kong Companies Ordinance.
Formerly the subject’s
registered address was located at ‘Room 2104, 21/F., Austin Plaza, 83 Austin
Road, Tsimshatsui Kowloon, Hong Kong’ where was the operating address of Keda
Industrial (Hong Kong) Ltd. [Keda HK]. The subject’s registered office moved to
the present address with effect from 18th November, 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
Billion Vast
Industrial Limited was incorporated on 8th September, 2014 as a private limited
liability company.
The subject does not
have its own operating office. Its
registered office is in a Hong Kong commercial service provider located at ‘Room
504, 5/F., Tung Wai Commercial Building, 111 Gloucester Road, Wanchai, Hong
Kong’ known as ‘H & R Block (HK) Ltd.’ [H & R] which is handling its
correspondences and documents. H & R
is also the corporate secretary of the subject.
Formerly the subject
was located at the office of Keda HK.
The subject has no
employees in Hong Kong.
According to the
Companies Registry of Hong Kong, the subject has issued just one ordinary share
of HK$1.00 which is owned by Charm Elite Enterprises Inc. which is a BVI-registered
company.
The director of the
subject Mr. Mao Juyong is a China merchant.
He is a China passport 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 Foshan City, Guangdong Province, China.
The subject’s lines
of business are unknown since H & R declined to report us about its
business.
The director of the
subject cannot be reached as he is not in Hong Kong.
No information of the
subject can be obtained from our secondary sources.
The subject is
trading in the same commodities as Keda HK.
Keda HK is
wholly-owned by Keda Clean Energy Co. Ltd. [Keda/Formerly known as Keda
Industrial Co. Ltd.] which is a China-based firm.
Keda HK is one of the
trading arms of Keda which is a machinery and equipment trader. Keda is in Shunde District, Foshan City,
Guangdong Province, China.
Keda is a listed firm
in Shanghai bearing stock code 600499. It has had a main factory in Foshan
City, Guangdong Province, China known as Foshan Keda Steel Machine Works which
was set up in December 1982.
Keda is principally
engaged in manufacture and sale of machinery products. Its machinery products include ceramics
machinery, energy resource machinery, stone processing machinery and building
material processing machinery. The
ceramics machinery products include cloth processing machine, turn over
machine, desiccator, drying apparatus, furnace, buffing machine, edge grinding
machine, testing equipment, stacking apparatus. It also manufactures clean coal
gasification machinery and others.
Keda’s products are marketed in China and exported to overseas markets.
The subject is
trading in ceramic machinery and spare parts.
It is an overseas supplier in China that exports products to Prism
Cement Ltd. which is in India.
Another customer of
the subject is C A Ecuatoriana De Ceramica, an Ecuador-based company.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is just over three years.
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 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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HKD |
1 |
INR 8.10 |
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
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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.