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MIRA
INFORM REPORT
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Report No. : |
498044 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MACROVISION UNIVERSAL LIMITED |
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Registered Office : |
Unit M, 1/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 : |
13.02.2012 |
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Com. Reg. No.: |
59406419 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Building and Construction Materials such as tiles,
furniture, curtain walls etc |
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No. of Employees : |
No Employee 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 (30.09.2017) |
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
MACROVISION UNIVERSAL
LIMITED
ADDRESS
Registered Office:-
c/o Buttar.HK Ltd./Buttar Secretarial Ltd.
Unit M, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam
Street, Jordan, Kowloon, Hong Kong.
China Office:-
MacroVision Asia Ltd., Guangzhou Representative Office
Tien He Bei Lu, Guangzhou City, Guangdong Province, China.
Associated Companies:-
MacroVision Asia Ltd., Hong Kong.
MacroVision Global Impex, India.
BUSINESS REGISTRATION NUMBER
59406419
COMPANY FILE NUMBER
1705243
DATE OF INCORPORATION
13th February, 2012.
ISSUED SHARE CAPITAL
HK$10,000.00
SHAREHOLDERS
(As per registry dated 13-02-2018)
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Name |
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No. of shares |
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Shaurya SRIVASTAVA [Son] |
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6,000 |
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Dileep Kumar SRIVASTAVA [Father] |
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4,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 13-02-2018)
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Name (Nationality) |
Address |
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Dileep Kumar SRIVASTAVA |
Pushp Residency, C-3, Plot No. 24 N-1, Town Centre, Cidco,
Aurangabad, India. |
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Shaurya SRIVASTAVA |
Pushp Residency, C-3, Plot No. 24 N-1, Town Centre, Cidco,
Aurangabad, 431003 India. |
SECRETARY
(As per registry
dated 13-02-2018)
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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 |
GENERAL
MacroVision Universal Limited [MUL] was incorporated in Hong
Kong on 13th February, 2012 as a private limited liability company under
the Hong Kong Companies Ordinance.
With an issued share capital of HK$10,000.00, the company is
jointly owned by Mr. Dileep Kumar Srivastava, holding 40%, and his son, Mr.
Shaurya Srivastava, holding 60%. Both
are India passport holders and do not have the right to reside in Hong Kong
permanently. They are also directors of
MUL. Their registered addresses are in
India.
MUL does not have its own operating office in Hong
Kong. Its registered office is in a
commercial service firm located at “Unit M, 1/F., Mau Lam Commercial Building,
16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong” known as Buttar Secretarial
Ltd. [BSL]. BSL is acting as the
corporate secretary of MUL and its affiliate, MacroVision Asia Ltd. [MAL].
BSL is responsible for MUL’s and MAL’s correspondences and
trading documents.
Both of MUL and MAL have no employee in Hong Kong. The actual operating office of these two
companies are in Guangzhou City, Guangdong Province, China.
MUL belongs to the MacroVision Group.
MUL has established a liaison office in China known as “Hong
Kong MacroVision Asia Ltd., Guangzhou Representative Office”. [MAL GZ].
One of the secondary sources from China revealed that MAL GZ
was registered in Guangzhou AIC in June 2008.
The responsible person of MAL GZ is Mr. Dileep Kumar Srivastava and
the general representatives are Mr. Shaurya Srivastava and Mr. Srashti
Srivastava. They have working and
resident permits in Guangzhou, China.
MAL GZ has involved in the sourcing of commodities from
various suppliers in China.
The commodities handled include the following:-
Garments, Fabrics and Accessories
Building and Construction Materials such as tiles,
furniture, curtain walls, etc.
Sanitary Ware
Foodstuffs & Beverages, Tea, Wine, etc.
Paper & Packaging Products, etc.
Chemicals
Industrial Machinery & Equipment, Components, etc.
Household Automation & Security Products
Consumer Electronics & Durables
Green Technology Products
Cosmetics/Beauty Products
Healthcare Products
Entertainment Products
Sports Products
Hospital & Medical Equipment
MAL GZ, acting as a Representative Office (also known as
Liaison Office) in China, is only a communication channel between MAL and its
suppliers or customers. All the expenses
of MAL GZ are funded by MAL. MAL GZ is
not permitted to carry out any commercial activity or to earn any income in
China. All the trading activities and
trading documentation should therefore be addressed to MAL and MUL.
Currently MacroVision Group is engaged in the following
business scope:
Import & Export business (China, India, Panama, Brazil,
Taiwan, Thailand, Bangladesh, the United Kingdom, the United States, Germany,
Australia, etc.)
Designing, Prototyping and Manufacturing for Start-Ups
(China and India)
Medical Tourism (Canada,
the United States, Mexico, India, China)
Information Technology Consultant (Australia, Malaysia,
India and China)
Contract Manufacturing (India, Bangladesh, Taiwan, China)
Currently, MAL and MUL have no direct office in Hong
Kong. Its operation office is now
located at Guangzhou via MAL GZ.
The history of the subject in Hong Kong is over six years
and a month.
On the whole, consider MUL good for business engagements on
secured terms.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.23 |
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UK Pound |
1 |
INR 91.95 |
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Euro |
1 |
INR 80.34 |
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HKD |
1 |
INR 8.31 |
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 : |
KET |
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.