MIRA INFORM REPORT

 

 

Report No. :

507581

Report Date :

10.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HONEST (MACAO COMMERCIAL OFFSHORE) LIMITED

 

 

Registered Office :

Em Macau, Avenid Da Praia Grande No. 619, Edf. Commercial Si Toi K7

 

 

Country :

Macau

 

 

Date of Incorporation :

19.01.2007

 

 

Com. Reg. No.:

SO 26550

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Not Available

 

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employees :

Not available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Macau

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MACAU - ECONOMIC OVERVIEW

 

Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.

Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.

Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.

 

Source : CIA

 

Company Details

 

Company Name (in English):

Honest (Macao Commercial Offshore) Limited

Company Name (in Portuguese):

Honest (Commercial Offshore De Macau) Limitada

Supplied Name:

HONEST (MACAO COMMERICAL OFFSHORE) LTD.

Supplied Address:

EM MACAU AVENIDA DAPRAIA GRANDE NO. 619 EDF COMMERCIAL SI TOI K7 Macau

 

 

Special Note

 

According to the supplied name, we found a telephone number +853-28718765 belongs to the subject. We tried this number, however, this phone was closing down.

 

According to the supplied name and address, we can not find any operation information or valid contact information of subject.

 

Update to date of reporting, we failed to get in touch with subject. If you can supply a current telephone, we’d like to have the investigation resumed.

 

We found subject’s registration information as follows for reference.

 

 

Company Identification Details

 

Registered Name:

Honest (Macao Commercial Offshore) Limited

Registered Address:

Em Macau, Avenid Da Praia Grande No. 619, Edf. Commercial Si Toi K7

Date of Registration:

2007-1-19

Business Registered Number:

SO 26550

Legal Form:

Private Limited Liability Company

Registered Capital:

MOP 100,000 (USD )

Principal Activities:

N/A

Staff:

N/A

Listed at Stock Exchange:

No

Note: Since we failed to get in touch with the subject, the principal activities and staff number are not available from any sources.

 

 

History

 

Subject was incorporated on 2007-1-19 with registered number SO 26550 as Private Limited Liability Company in Macao.

 

 

Corporate Structure

 

Parent Company

Name:

Skyworth Overseas Development Limited

Address:

3rd Floor, J & C Building, P. Box 362, Road Town, Tortola, Virgin Islands (British)

Stake Interest in Subject:

100%

 

Shareholders

Unit: MOP

Name

Subscription Amount

Proportion of Investment (%)

Skyworth Overseas Development Limited

100,000

100%

Total

100,000

100%

 

Major Shareholder Information:

Name:

Skyworth Overseas Development Limited

Address:

3rd Floor, J & C Building, P. Box 362, Road Town, Tortola, Virgin Islands (British)

 

 

Management Information

 

Core Management

 

Board of Directors:

1

Name:

Sun Weizhong

Address:

Room 15c, Unit B, Building 2, Block 2, Shou De Rong Yu, Nanshan District, Shenzhen City, China

Position:

Director

Marital Status:

Married

Gender:

Male

2

Name:

Vong King Fai

Address:

Flat B, 16th Floor, Graceful Court, 31-37 Hill Road, Hong Kong

Position:

Director

Marital Status:

Married

Gender:

Male

3

Name:

Xie Wenlong

Address:

Flat 34E,Unit2, Tower B6, Junction Of Baoan Road Ans Yintian Road, Baoan District, Shenzhen, China

Position:

Director

Marital Status:

Married

Gender:

Male

4

Name:

Ge Mingzhe

Address:

Room 807, bliock 7, huamao garden, meilin, futian district, Shenzhen city guangdong orobine

Position:

Director

Marital Status:

Married

Gender:

Male

5

Name:

Shing Choi Tai

Address:

2nd Floor, 158 Fyung Hing Tsuen, Wang Chau, Yuen Long, New Territories, Hong Kong

Position:

Director

Marital Status:

Married

Gender:

Female

 

Operation Information

 

Since we failed to get in touch with the subject, the operation information is not available from any sources.

 

Settlements

 

Since we failed to get in touch with the subject, the settlement information is not available from any sources.

 

 

Financial Information

 

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Macao and the only source from which we can obtain the information is the subject itself.

Since we failed to get in touch with the subject, the financial information is not available from any sources.

 

 

Bankers

 

Since we failed to get in touch with the subject, the banking information is not available from any sources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.38

UK Pound

1

INR 91.09

Euro

1

INR 79.75

MOP

1

INR 8.32

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.