MIRA
INFORM REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
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Name : |
HONG KONG HAILIANG
METAL TRADING LTD. |
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Registered Office : |
C/o Hongkong Managers & Secretaries Ltd. Room 3401-3402, 34/F., AIA Tower, 183 Electric Road, North Point |
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Country : |
Hong Kong |
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Date of Incorporation : |
09.12.2006 |
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Com. Reg. No.: |
37455614 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Copper tubes, copper fittings,
other copper or brass 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 : |
Usually Correct |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Name and address
HONG KONG
HAILIANG METAL TRADING
LTD.
ADDRESS: c/o Hongkong Managers &
Secretaries Ltd.
Room 3401-3402, 34/F., AIA Tower, 183 Electric Road, North Point,
Hong Kong.
PHONE: 3528 0290
FAX: 2887 2054
(Formerly Registered Office was located at:
Room 1005, 10/F., Railway Plaza,
39 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.)
MANAGEMENT
Managing Director: Mr. Chen Dong
SUMMARY
Incorporated on: 9th
December, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$233,220,000.00
Issued: HK$233,220,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Fairly
satisfactory.
ADDRESS
Registered Head Office:-
c/o Hongkong Managers & Secretaries Ltd.
Room 3401-3402, 34/F., AIA Tower, 183 Electric Road, North Point,
Hong Kong.
Holding Company:-
Zhejiang Hailiang Co. Ltd., China.
Associated Companies:-
Shanghai Hailiang Copper Co. Ltd., China.
Vietnam Hailiang Metal Products Manufacturing Co. Ltd., Vietnam.
Zhejiang Hailiang International Trade Co. Ltd., China.
BUSINESS REGISTRATION NUMBER
37455614
COMPANY FILE NUMBER
1094229
MANAGEMENT
Managing Director: Mr. Chen Dong
CAPITAL
Nominal Share Capital: HK$233,220,000.00 (Divided into 233,220,000
shares of HK$1.00 each)
Issued Share Capital: HK$233,220,000.00
SHAREHOLDER
(As per registry dated 09-12-2010)
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Name |
|
No. of shares |
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Zhejiang Hailiang Co. Ltd. Diankou, Zhuji, Zhejiang Province, China. |
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233,220,000 ========= |
DIRECTOR
(As per registry dated 09-12-2010)
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Name (Nationality) |
Address |
|
CHEN Dong |
Diankou, Supply & Marketing Corporation, Zhuji, Zhejiang Province,
China. |
SECRETARY
(As per registry dated 09-12-2010)
|
Name |
Address |
Co. No. |
|
Hongkong Managers & Secretaries Ltd. |
Room 3401-3402, 34/F., AIA Tower, 183 Electric Road, North Point, Hong
Kong. |
0020984 |
HISTORY
The subject was incorporated on 9th December, 2006 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject’s registered office was located at Room 1005, 10/F.,
Railway Plaza, 39 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, while its head
office was located at Flat D, 15/F., Celeste Court, 12 Fung Fai Terrace, Happy
Valley, Hong Kong, moved to the present address in June 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Copper
tubes, copper fittings, other copper or brass products, etc.
Employees: Nil.
Commodities Imported: India, Europe, etc.
Markets: China,
Japan, other Asian countries, Europe, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$233,220,000.00 (Divided into 233,220,000
shares of HK$1.00 each)
Issued Share Capital: HK$233,220,000.00
Alternation of Capital:-
|
09-12-2006 |
paid up |
HK$ 23,000,000.00 |
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31-12-2008 |
paid up |
HK$ 210,220,000.00 |
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–––––––––––––––––– |
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Total: |
paid up |
HK$ 233,220,000.00 ================ |
Increase of Nominal Capital:-
|
From |
HK$23,000,000.00 |
to |
HK$233,220,000.00 |
on |
31-12-2008 |
Mortgage or Charge: (See
attachment)
Profit or Loss: Group makes a small profit every year.
Condition:
Group keeps in
a satisfactory manner.
Facilities:
Adequate for
current running.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
China Construction Bank Corporation,
Hong Kong Branch.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Australia & New Zealand Banking Group
Ltd., Hong Kong Branch.
Standing:
Small.
GENERAL
Having issued 233,220,000 ordinary shares of HK$1.00 each, Hong Kong
Hailiang Metal Trading Ltd. is a wholly owned subsidiary of Zhejiang Hailiang
Co. Ltd. [Hailiang] which is a China-based firm. The only director of the subject Chen Dong is
a China ID holder.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 3401-3402, 34/F., AIA Tower, 183 Electric Road,
North Point, Hong Kong known as Hongkong Managers & Secretaries Ltd. which
is handling its correspondences and documents.
Hongkong Managers & Secretaries Ltd. is also the corporate secretary
of the subject. The subject has no
employees in Hong Kong.
The Hailiang Group is controlled by Mr. Chen Dong who is also the
director of the subject. He is currently
residing in Zhuji City, Zhejiang Province, China.
The subject’s parent Hailiang is the world’s largest manufacturer for
copper and copper alloy products such as copper tube, brass tube, copper
fittings, brass fittings, copper alloy tube, copper water tube, insulated
copper tubes and plastic-coated copper tubes, brass rods, etc. The annual production capacity of Hailiang is
over 180,000 tons. It has got the ISO
9001 certification and also the certifications approved for different products
in different markets such as NSF, UPC, WHI and KITEMARK, SAI, SGS, SABS,
C-TPAT, etc. Hailiang’s products are
able to satisfy the requirements of various customers. One of Hailiang’s US customers is Abco Metals
Inc. Hailiang’s products are usually
shipped by Shanghai Hailiang Copper Co. Ltd.
Currently, Hailiang Group has over 4,500 employees in China.
It is likely that Hailiang deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong. Hailiang also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The subject’s business in Hong Kong is not very active. History in Hong Kong is just over four
years and five months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
COURT CASES: None
per our.
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
01-12-2008 |
Instrument: Charge Over Account Property: As beneficial owner, hereby charges by way of first fixed charge and
assigns and releases to the Bank all the Chargor’s interest and benefit in,
and rights and title to, all the deposits, funds and interests from time to
time standing to the credit of the Account Mortgagee: China Construction Bank Corporation,
Hong Kong Branch. |
The Charge is a continuing security for the due and punctual payment
or discharge of all moneys, obligations and liabilities |
|
06-01-2011 |
Instrument: Security Agreement over Bank Account Property: By way of a first fixed charge all of the Chargor’s rights in respect
of any amount standing to the credit of the Account from time to time and the
debt represented by it Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future
obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
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|
1 |
Rs.72.97 |
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Euro |
1 |
Rs.63.57 |
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.