MIRA
INFORM REPORT
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Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG GRAND INTERNATIONAL CO.
LTD. |
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Registered Office : |
C/o |
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Country : |
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Date of Incorporation : |
25.06.2007 |
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Com. Reg. No.: |
38097001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Iron and steel,
petrochemical products, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company Name
HONGKONG GRAND
INTERNATIONAL CO. LTD.
Company ADDRESS
c/o North Asia Corporate Services Ltd.
PHONE: 2724 1223
FAX: 2722 4373
MANAGEMENT
Managing Director: Mr. Jin Bo
SUMMARY
Incorporated on: 25th
June, 2007.
Organization: Private
Limited Company.
Capital: Nominal: US$1,000,000.00
Issued: US$1,000,000.00
Business Category: Importer and Exporter.
Group Annual Turnover: RMB18~20 billion Yuan.
Employees:
Nil.
Main Dealing Banker: BNP Paribas, Hong Kong Branch.
Banking Relation: Fairly
satisfactory.
company ADDRESS
Registered Head
Office:-
c/o
China Office:-
6F-O,
Holding Company:-
Grand Group Corporation,
[Formerly known as Zhejiang Grand Import & Export Co. Ltd.]
Affiliated
Companies:-
Grand Cross International Co. Ltd.,
Hainan Sino-source Petrochemical Industrial Co. Ltd.,
Hangzhou Guanji Chemical Industry Co. Ltd.,
Ningbo Grand International Logistics Co. Ltd.,
Tianjin Grand Tianyi Petrochemical Co. Ltd.,
Xingjiang Tianyi Petrochemical Co. Ltd.,
Yuyao Grand Plastics Co. Ltd.,
BUSINESS REGISTRATION NUMBER
38097001
COMPANY FILE NUMBER
1143985
MANAGEMENT
Managing Director: Mr. Jin Bo
CAPITAL
Nominal Share Capital: US$1,000,000.00 (Divided into 1,000,000 shares of
US$1.00 each)
Issued Share Capital: US$1,000,000.00
SHAREHOLDER
(As per registry
dated 25-06-2010)
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Name |
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No. of shares |
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Zhejiang Grand Import & Export Co. Ltd. [Now known as Grand Group Corporation] Jinying Trading Building, Kaifa District, Daxie, |
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1,000,000 ======= |
DIRECTORS
(As per registry
dated 07-09-2010)
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Name (Nationality) |
Address |
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LI Zhi Guang |
Room 504, No. 3, Lane 15, Xianxia Road, Changning District, Shanghai,
China. |
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JIN Bo |
Room 504, No. 14, Lane 58, |
SECRETARY
(As per registry
dated 25-06-2010)
|
Name |
Address |
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Larich Ltd. |
Suite 1001-1002, 10/F., |
0437591 |
HISTORY
The subject was incorporated on 25th June, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Suite 1505-1506, 15/F., Albion Plaza,
2‑6 Granville Road, Tsimshatsui, Kowloon, Hong Kong where was the
operating office of Asia Corporate Services Ltd., moved to Suite 1001-1002
& 1005, 10/F. of the same building due to the address change of Asia
Corporate Services Ltd. in September 2008.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: Iron
and steel, petrochemical products, etc.
Employees: Nil.
Commodities Imported:
Markets:
Group Annual Turnover: RMB18~20 billion Yuan.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: As
per contracted.
FINANCIAL INFORMATION
Nominal Share Capital: US$1,000,000.00 (Divided into 1,000,000 shares
of US$1.00 each)
Issued Share Capital: US$1,000,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Keeping a balance account.
Condition: Business
is not very active.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
· BNP Paribas, Hong Kong Branch.
Fortis
Bank, Hong Kong Branch.
Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Cooperatieve
Centrale Raiffeisen - Boerenleenbank B.A. [trading as Rabobank International],
Hong Kong Branch.
Standing:
Small.
GENERAL
Incorporated in June 2007,
Hongkong Grand International Co. Ltd. is a wholly-owned subsidiary of Grand
Group Corporation (renamed from Zhejiang Grand Import & Export Co. Ltd. in
July 2010) [Grand] which is a China-based firm.
The subject does not have
its own operating office. Its registered
office is in a commercial service firm located at Suite 1001-1002 & 1005,
10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon, Hong Kong known
as North Asia Corporate Services Ltd. which is handling its correspondences and
documents. Formerly North Asia Corporate
Services Ltd. was located at
The subject has no
employees in
Established in July 1994,
Grand is engaged in importing and exporting business. With a total assets of over RMB1.2 billion
Yuan, Grand had a total sales turnover of RMB18,190 million Yuan in FY
2008. Tax paid to the government
amounted to RMB115 million Yuan in the year.
Grand was named “One of the
Top 100 Enterprises in Tertiary Industry” in 2006 and has been named “AAA Class
Company” for 10 consecutive years. Grand
ranked the 362nd in
Grand’s major business
covers trading, industry and investment.
Exported products include garments, steel, auto-parts, wood products,
textile fabrics, clothing, plastics, outdoor leisure products, hardware,
chemicals, mechanical products, electrical products, and other manufactured
goods. There are five business divisions
in the Group including Export Department, Plastics Department, Steel & Iron
Department, Liquid Chemical Department, and Rubber Plastic & Road Materials
Department.
Grand has had ten
wholly-owned subsidiaries and one joint stock company. It has established representative offices in
Grand’s major business
covers trading, logistics and investment.
Close business ties have been developed with many world leading
companies such as LG, SK, Daelim, Hyundai in South Korea, Mitsubishi in Japan,
Formosa Chemical & Fiber in Taiwan, Esso and Mytex in Singapore, Reliance
in India and other world leading companies, etc. Grand has got ISO 9001 certification. It has set up a number of associated and
affiliated companies in
Lianyungang Ideal Group Co.
Ltd., a listed firm in
Currently Grand has more
than 400 staff while the average age of whom is 27 and 80% are holders of
undergraduate diploma. The annual sales
turnover of Grand ranges from RMB18 to 20 billion Yuan. Business is profitable and active. Grand sometimes does business with foreign
parties under the name of the subject.
Since the subject does not
have its own office and has no employees in Hong Kong, consider it good
for business engagements on secured basis.
COURT CASES: None
per our.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
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19-10-2007 |
Instrument: Deed of Charge Property: 1) Charged Property means
the property, assets and rights for the time being comprised in or subject to
the charges contained in this Deed 2) As security for the due
payment and discharge of the Secured Amounts Mortgagee: BNP Paribas ( |
To secure the payment and discharge of all moneys and liabilities |
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17-04-2008 |
Instrument: Deed of Charge Property: As security for the due payment and discharge of the Secured Amounts Mortgagee: BNP |
All moneys and liabilities |
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22-07-2009 |
Instrument: Charge Over Deposits – CD 1 (09) Property: 1) By fixed Charge: all the Company’s rights in respect of (i) the
sum deposited by the Company; and (ii) all other sums in any currency from
time to time standing to the credit of the Company or the credit of any other
person for the Company’s benefit whether alone or jointly with others, on any
deposit account with the Bank or any other SCB Group Company including
additions to or renewals or replacements of such sum; and all interest from
time to time accruing or payable on the sums specified in (i) and (ii) above; 2) By assignment: all Deposits held with any SCB Group
Company Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., |
To secure the payment or discharge of all moneys, obligations and
liabilities, whether actual or contingent at the date of the Charge or at any
time after the date thereof, due, owing or incurred by the Company to
Standard Chartered Bank ( |
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20-05-2010 |
Instrument: Security over Deposit in respect of
Obligations of the Depositor Property: By way of first fixed charge to the Chargee the account number
873530004923 and all deposits Mortgagee: Industrial & Commercial Bank of |
All monies and liabilities |
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13-08-2010 |
Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner and as security for the payment of
all Secured Liabilities Mortgagee: Cooperatieve Centrale Raiffeisen -
Boerenleenbank B.A. [trading as Rabobank International], Hong Kong
Branch. |
All obligations and liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.23 |
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1 |
Rs.72.09 |
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Euro |
1 |
Rs.62.99 |
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 |
Capability to overcome financial difficulties seems comparatively below
average. |
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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NB |
New Business |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.