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MIRA INFORM REPORT
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Report No. : |
486287 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HK SKYLINE LIMITED |
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Registered Office : |
C/O DG Services Ltd.
Unit D, 16/F., One Capital Place, 18 Luard Road, Wanchai |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.11.2013 |
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Com. Reg. No.: |
1993324 |
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Legal Form : |
Private Limited Liability |
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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 : |
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 : |
Not 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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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, 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
HK SKYLINE LIMITED
ADDRESS
Registered Office:-
c/o DG Services Ltd.
Unit D, 16/F., One Capital Place, 18 Luard Road, Wanchai,
Hong Kong.
Formerly located at:-
c/o Wing United CPA Ltd.
Room 2302, 23/F., Seaview Commercial Building, 23
Connaught Road West, Hong Kong.]
Associated
Company
Foshan Skyline Import & Export Co. Ltd., China.
BUSINESS REGISTRATION NUMBER: 62304181
COMPANY FILE NUMBER:
1993324
DATE OF INCORPORATION:
8th November, 2013.
ISSUED SHARE CAPITAL:
HK$10,000.00
SHAREHOLDER
(As per registry dated 08-11-2017)
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Name |
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No. of shares |
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ZHANG Hui Min |
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10,000 ===== |
DIRECTOR
(As per registry dated 08-11-2017)
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Name (Nationality) |
Address |
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ZHANG Hui Min |
Room 2104, Block 3, Zone 1, Vanke City, No. 55 Yanjiang
Road, Nanzhuang Town, Chancheng District, Foshan City, Guangdong Province,
China. |
SECRETARY
(As per registry dated 08-11-2017)
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Name |
Address |
Co. No. |
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DG Services Ltd. |
Unit D, 16/F., One Capital Place, 18 Luard Road,
Wanchai, Hong Kong. |
2386267 |
HISTORY
The company was
incorporated on 8th November, 2013 as a private limited liability company under
the Hong Kong Companies Ordinance.
Formerly the
subject’s registered address was located at ‘Room 2302, 23/F., Seaview
Commercial Building, 23 Connaught Road West, Hong Kong’ where was the operating
address of an accounting company known as Wing United CPA Ltd. The subject’s registered office moved to the
present address in 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
HK Skyline Limited
was incorporated on 8th November, 2013 as a private limited liability company.
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 ‘DG
Services Ltd.’ [DG] which is handling its correspondences and documents. DG 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. Zhang Hui-Min 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
Chancheng District, Foshan City, Guangdong Province, China.
According to your
given e-mail address, we have found the subject’s associated company in
China. Its brief information is as
follow:
Name: Foshan Skyline Import & Export Co. Ltd.
[Skyline]
Address: Room 1406, Block 5, Jinying Ludao
International Centre, Guihua West Road, Chancheng District, Foshan City,
Guangdong Province, China.
Tel: 86-757-8256 1086
Fax: 86-757-8355 0455
E-mail:
emily@fsskyline.com
Legal Status: Limited Liability Company (owned by natural
person)
The subject and
Skyline are trading in ceramic raw materials, ceramic tiles, furniture,
sanitary ware, bathroom fittings, machinery & equipment concerning ceramic
products, etc.
The contact person of
Skyline is Ms. Emily Zhao.
The subject is an
overseas supplier in China that exports products to Genmex International which
is an India company.
The subject’s
business in Hong Kong is not active.
History in Hong Kong is over four 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.84 |
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1 |
INR 88.28 |
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Euro |
1 |
INR 77.88 |
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HKD |
1 |
INR 8.16 |
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 : |
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.