MIRA INFORM REPORT

 

 

Report No. :

511056

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SMART (HK)  TRADING  LIMITED

 

 

Registered Office :

C/o Smart Registrations Ltd. B2-0559, 7/F., Kin On Commercial Building, 49-51 Jervois Street, Sheung Wan

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

18.04.2007

 

 

Com. Reg. No.:

37840067

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Subject had traded in furniture, lighting products, and interior decoration products. (Indirect source)

 

 

No. of Employees :

No employees in Hong Kong

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

D

 

Credit Rating

Explanation

Rating Comments

D

High Risk

Business dealing not recommended or on secured terms only

 

Status :

Dissolved by striking off

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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)

Hong Kong

A1

A1

 

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

 

 

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.

Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.

Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.

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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.

The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.

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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), 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. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.

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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie 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.

 

Source : CIA

 

Company name and address

 

SMART  (HK)  TRADING  LIMITED

 

ADDRESS:

 

Registered Office:-

c/o Smart Registrations Ltd.

B2-0559, 7/F., Kin On Commercial Building, 49-51 Jervois Street, Sheung Wan, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

  37840067

 

 

COMPANY FILE NUMBER

 

  1124758

 

 

DATE OF INCORPORATION

 

  18th April, 2007.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDER

 

(As per registry dated 18-04-2013)

Name

 

No. of shares

ZHANG Haipeng

 

10,000

=====

 

 

DIRECTOR

 

(As per registry dated 18-04-2013)

Name

(Nationality)

 

Address

ZHANG Haipeng

Room 14A1, Sanxin Building, No. 33 Huangpu Dadao West, Guangzhou City, Guangdong Province, China

 

 

SECRETARY

 

(As per registry dated 18-04-2013)

Name

Address

Co. No.

Smart Registrations Ltd.
[Resigned on 08-09-2014]

7/F., Kin On Building, 49-51 Jervois Street, Sheung Wan, Hong Kong.

0523381

 

 

GENERAL

 

Please be advised that Smart (HK) Trading Limited was a private limited company which has been dissolved by striking off from the Hong Kong Companies Registry.  It was formally struck off on 9th December, 2016, the date of the publication of Gazette Notice No. 7014.  The subject was accordingly dissolved by striking off as from the date of the publication of the notice.

The subject was incorporated on 18th April, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject did not have its own operating office.  Its registered office was in a commercial service firm located at ‘B2-0559, 7/F., Kin On Building,
49-51 Jervois Street, Sheung Wan, Hong Kong’ known as ‘Smart Registrations Ltd.’ [SRL] which had handled its correspondences and documents.  ‘B2-0559’ was the file number of the subject in SRL.  SRL had been also the corporate secretary of the subject but it resigned on 8th September, 2014.

The subject had no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject had issued 10,000 ordinary shares of HK$1.00 each of which were wholly-owned by Mr. Zhang Haipeng who was a China merchant.

He was a China ID holder and did not have the right to reside in Hong Kong permanently.  He was also the only director of the subject.  His registered address was in Guangzhou City, Guangdong Province, China.

The subject’s lines of business were unknown since the secretarial company declined to report us about its business.

Form our indirect sources, the subject had traded in furniture, lighting products, and interior decoration products.

All commodities were sourced from China.

The subject had exported its commodities to Mistecture Architecture And Interio, a US-based company, through the port of Tacoma, Washington, the United States.

The subject’s business in Hong Kong was not active.  History in Hong Kong was over nine years and seven months.

The subject was formally dissolved by striking off on 9th December, 2016.

Since the subject has been dissolved by striking off, on the whole, consider it not suitable for any business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

HKD

1

INR 8.59

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

TRU

                                                


 

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.