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MIRA INFORM REPORT
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Report No. : |
486783 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VALDEK SRO LIMITED |
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Registered Office : |
C/o Buttar.HK Ltd./Buttar Secretarial Ltd., 10/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.09.2015 |
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Com. Reg. No.: |
65273381 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is a wholesale telecommunications company bridging a platform between carriers and countries worldwide. |
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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 : |
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 : |
Very small company |
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Payment Behaviour : |
Slow |
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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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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 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 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 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 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 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.
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 and address
VALDEK
SRO LIMITED
ADDRESS: c/o Buttar.HK Ltd./Buttar Secretarial Ltd.
10/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
PHONE: 852-9524 1286
E-MAIL: mrinal.ojha@valdeksrolimited.com / sales@valdeksrolimited.com
MANAGEMENT
Managing
Director: Mr. Mrinal Ojha
SUMMARY
Incorporated
on: 21st
September, 2015.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Business Category: Wholesale telecommunication
company.
Employee: 1
Main Dealing
Banker: The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Banking
Relation: Satisfactory.
ADDRESS
Registered Head Office
c/o
Buttar.HK Ltd./Buttar Secretarial Ltd.
10/F., Mau Lam
Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.
BUSINESS
REGISTRATION NUMBER
65273381
COMPANY
FILE NUMBER
2288750
MANAGEMENT
Managing
Director: Mr. Mrinal Ojha
ISSUED
SHARE CAPITAL
HK$10,000.00
SHAREHOLDER
(As
per registry dated 21-09-2016)
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Name |
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No.
of shares |
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Mrinal OJHA |
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10,000 ===== |
DIRECTOR
(As per registry dated 21-09-2016)
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Name (Nationality) |
Address |
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Mrinal OJHA |
4H 21 R.C. Vyas Colony Bhilwara, Bhilwara,
PIN: 311001, Rajasthan India. |
SECRETARY
(As
per registry dated 21-09-2016)
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Name |
Address |
Co.
No. |
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Buttar
Secretarial Ltd. |
Unit 13, 16/F., Asia Trade Centre, 79 Lei Muk Road, Kwai Chung, New
Territories, Hong Kong. |
2086550 |
HISTORY
The
subject was incorporated on 21st September, 2015 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: Wholesale telecommunication company.
Lines: Telecommunication equipment, cables and wires.
Employee: 1
Commodities Imported: Foreign advanced countries.
Business Territories: Asian countries, Europe, etc.
Terms/Sales/Services: As per contracted.
Terms/Buying: L/C, T/T, etc.
FINANCIAL
INFORMATION
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business is under development.
Facilities: Adequate for current running.
Payment: Slow.
Commercial
Morality: Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Small.
GENERAL
Valdek Sro Limited is wholly-owned by Mr. Mrinal Ojha who is an India merchant.
Mr. Mrinal Ojha is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.
The subject’s registered office is in a business centre located at 10/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is handling its correspondences and documents. Buttar.HK Ltd. is also the corporate secretary of the subject. This secretarial company has several offices in Hong Kong.
We can reach Mr. Mrinal Ojha at your given Hong Kong mobile phone number 852-9524 1286.
The subject is a Wholesale Telecommunications Company bridging a platform between carriers and countries worldwide. The subject was formed in September 2015 for the sole purpose of providing VoIP wholesale VOIP termination to the market. It focuses on the needs of customers seeking a quality and stability of service that their business can depend on.
The subject has been at the leading edge since 2015. Offering high quality cli and non cli routes, it has interconnects with some of the big Telecom providers all over the world. It has interconnected with global network providers through its various points of presence. This enables it to operate as a prominent UK carrier services provider that is globally competitive in terms of cost and availability through a well devised A-Z call termination.
The subject offers the following scope of business:
· Offering VoIP and traditional telephony with the technical and practical expertise.
· Helping clients’ organizations to move forward into the VoIP arena at a customized pace.
· Providing clients with products and technical expertise to make their communications systems more productive.
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Offering complete voice and data
networking and providing its clients with a Single Vendor Solution.
· Offering telecommunication services with the latest in IP and Digital voice communications from industryleading manufacturers, call centres, voice mail, voice recognition, automated attendant, mobility, presence, unified messaging, reporting systems and structured cable solutions including CAT 6 and Fibre Optics.
The subject’s business in Hong Kong is chiefly handled by Mr. Mrinal Ojha himself. History in Hong Kong is over a year and nine months.
On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis or 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 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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HKD |
1 |
INR 8.18 |
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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PRA |
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Report Prepared
by : |
SYL |
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
·
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.