%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image002.jpg)
MIRA
INFORM REPORT
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Report Date : |
24th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
HUAYE
(H.K.) INTERNATIONAL GROUP CO. LTD. |
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Registered Office : |
C/O
Unit A, 20/F, Empire Land Commercial Centre, 81-85 Lockhart Road, Wanchai, Hong
Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
22.11.2002 |
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Com. Reg. No.: |
822777 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in Trading of iron & steel. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
HUAYE
(H.K.) INTERNATIONAL GROUP CO. LTD.
C/O UNIT
A, 20/F, EMPIRE LAND COMMERCIAL CENTRE,
81-85
LOCKHART ROAD, WANCHAI, HONG KONG.
TEL : 86-21-56391115
FAX : 86-21-56391530
EXECUTIVE SUMMARY
INCORPORATION DATE :
22-11-2002
REGISTRATION NO. :
822777
REGISTERED LEGAL
FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : GAO FENG (DIRECTOR)
STAFF STRENGTH :
NONE IN HONG KONG.
AUTHORIZED
CAPITAL : HKD 10M = 10M
SHARES @ HKD1.-
PAID-UP
CAPITAL : HKD 10M
BUSINESS LINE :
TRADING OF IRON & STEEL
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT
RANGE : MODERATE AMOUNT
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : HKD 7.78016
= USD1 AS OF 2006-11-24
Adopted abbreviations:
ANS - amount not stated
NS - not stated SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image003.gif){kind=small}
SC is a private limited company registered under
incorporation file no. 822777 on 22-11-2002.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 22-11-2005) Number
of shares held
Gao Feng 6,000,000
Chen Lifang 4,000,000
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10,000,000
========
Directors (as at 22-11-2005)
Gao Feng / G0797992
Chen Lifang / G05797987
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
No material change or amendment regarding SC has
been traced & noted within last 2 years.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image004.gif){kind=small}
This section will contain the civil litigations
& winding-up petitions filed against SC for the last 6 years (as stored in
our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges
by an unlimited co is not required to be registered in the public records.
Civil
litigation/winding-up petitions : None
in our database.
Mortgage/charge
record(s) : (X) see
below ( ) see per attached
Creation date : 14-10-2004
Charger(s) :
SC
Chargee(s) :
Industrial & Commercial Bank of China (Asia) Ltd.
Secured amount : ANS
Charge particulars : Charge on Cash Deposits
Creation date : 7-1-2005
Charger(s) :
SC
Chargee(s) :
Industrial & Commercial Bank of China (Asia) Ltd.
Secured amount : ANS
Charge particulars : General Letter of Pledge
Mortgage Index:
Year(s) in which mortgage registration(s) are
filed: 2003-2005
Year(s) in which mortgage satisfaction record(s)
are filed: 2004
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image005.gif){kind=small}
Our search indicates that SC is an ultimate subsidiary
of Shanghai Huaye Iron and Steel Group Co., Ltd., whose partial information is
as follows:
Year established : 1991
Registered/business
address : No. 288 Jinle Road, Baoshan
District, Shanghai, 201901, PR China.
Business
line : As an
investment holding co. with core interests in processing, retail & distribution of iron & steel.
No. of employees : Na
Civil litigation & winding-up petition records
: None in our database
Turnover :
NA
Outside sources indicated that Shanghai Huaye Iron
and Steel Group Co., Ltd. is ranked 165th among the top 500 enterprises of PR
China and is ranked the 7th among privately owned enterprises of PR China in
July 2005.
Gao Feng, director: Also currently general manager of Shanghai Huaye Iron & Steel
Group Co., Ltd.
Currently residing in PR China & only visits
Hong Kong for business occasionally.
Registered residential address: No. 280 Jinle Road,
Baoshan District, Shanghai, 201901, PR China.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Chen Lifang, director.
Currently residing in PR China & only visits
Hong Kong for business occasionally.
Registered residential address: Same as Gao Feng.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2 Obtained scores : 65 (see explanatory notes
below)
Keys : 1 : scores 81-100 : Excellent
2 : scores
61-80 : Good
3 : scores
46-60 : Average
4 : scores
21-45 : Fair
5 : scores
01-20 : Poor
The rating indicates the personal financial &
operational strength of SC's major principals.
It is calculated from a composite of scores obtained from the following
5 factors which carry equal weight in our analysis:
Personal financial strength, credit history &
trade reputation, business experience & track record, market connection and
management skill.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image006.gif){kind=small}
Outside sources indicated that the contact
information of Shanghai Huaye Iron & Steel Group Co., Ltd (SC's ultimate
parent) is as follows:
- Tel: 86-21-56391115
- Fax: 86-21-56391530
Through the captioned telephone no., we managed to
contact Li Anthony, SC's sales executive. He stated that SC has no operating
office in Hong Kong and all business enquiries are handled by the said co. in
PR China.
Business categories :
SC is engaged in trading of iron & steel.
Items available include wire rods, bars, HR steel,
CR steel, section steel, coated steel, stainless steel & electric steel.
Principal purchases :
Major types of sourcing :
Iron & steel
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries : PR
China
Buying terms :
L/C & T/T
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries : USA,
Japan, S. Korea, Taiwan, Ukraine & S. Africa
Selling terms :
L/C, T/T & special agreed terms
Total number of
employees : None in Hong
Kong.
Location: Maintaining its correspondence office at
a commercial building in a commercial district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image007.gif){kind=small}
Affiliates in PR China:
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- Shanghai Huaye Import & Export Trading Co.
Ltd.
- Shanghai Homestead Real Estate Development Co.,
Ltd.
- Shanghai Huaye Steel Processing &
Distributing Centre
- Changshu Huaye Lamella Steel Co., Ltd.
- Chongqing Beiye Steel Trading Co., Ltd.
- Qingdao Beiye Steel Trading Co., Ltd.
- Ti'nan Beiye Steel Trading Co., Ltd.
- Tiamjin Huaye Weiye Steel Trading Co., Ltd.
- Guangzhow Huaye Trading Co., Ltd.
- Wexi Huaye Trading Co., Ltd.
- Ningbo bonded Area Huaye Steel Trading Co., Ltd.
- Hangzhou Xiaoshan Southern Industrial Co., Ltd.
- Hangzhou Huaye Material Co., Ltd.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image008.gif){kind=small}
Overall payment appraisal :
( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet determined
The appraisal serves as a reference to reveal SC's
payments habits and ability to pay. It
is based on the 3 weighed factors:
Trade payment experience (through current enquiry with SC's suppliers),
our delinquent payment records and our debt collection record concerning SC.
Trade
payment experience : SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record : None
in our database.
Debt collection record : No
overdue amount owed by SC was placed to us for collection within the last 6
years.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image009.gif){kind=small}
Banking relations are maintained principally with:
Industrial & Commercial Bank of China (Asia) Ltd.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image010.gif){kind=small}
Upon a
current contact, Li Anthony, sales executive of Shanghai Huaye Iron & Steel
Group Co., Ltd., declined forwarding any financial information on the ground
that it is the company's policy not releasing any data to a third party without
the benefit of knowing the identity of the inquiring party.
As per current co. search, total amount of
indebtedness of SC in respect of all mortgages and charges which are required
to be registered with Companies Registry as at 22-11-2005 was NA.
%20INTERNATIONAL%20GROUP%20CO%20%20LTD%20%2024-Nov-2006_files/image011.gif){kind=small}
SC's operation in Hong Kong is simple with only a
correspondence office. With regard to SC's group affiliation, SC may appear to
be capable of coming into normal business dealings.
-- Asset Tracing --
Upon our current investigation, our database &
sources consulted indicate that SC was not involved in any property transaction
(both purchase & disposal) in Hong Kong for the last 6 years.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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