MIRA INFORM REPORT

 

 

Report Date :           

09.11.2011

 

IDENTIFICATION DETAILS

 

Name :

ZHAOHENG  STEEL  LTD.

 

 

Registered Office :

Unit 5, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.02.2007

 

 

Com. Reg. No.:

37612040

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer and Exporter of all kinds of iron and steel materials, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

ZHAOHENG  STEEL  LTD.

 

 

company ADDRESS

 

Unit 5, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2787 3355

FAX:                 2152 0026

 

 

MANAGEMENT

 

Managing Director:  Mr. Xu Guo Sheng

 

 

SUMMARY

 

Incorporated on:             1st February, 2007.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:HK$1,000,000.00

Issued:  HK$1,000,000.00

 

Business Category:        Steel Trader.

 

Employees:                   5.

 

Main Dealing Banker:     Bank of China Ltd., Hong Kong Branch.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Registered Head Office:-

Unit 5, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

 

Holding Company:-

Zhaoheng Holdings Ltd., Hong Kong.  (Same address)

 

Associated Companies:-

Zhaoheng Group of Companies

·         iPanel Technologies Ltd., China.

·         Shenzhen Zhaoheng Fushun Specialty Steel Co. Ltd., China.

·         Shenzhen Zhaoheng Hydropower Co. Ltd., China.

·         Shenzhen Zhaoheng Industrial Co. Ltd., China.

·         Shenzhen Zhaoheng Specialty Steel Co. Ltd., China.

·         Zhaoheng Hydropower (Hong Kong) Ltd., Hong Kong.

·         Zhaoheng Hydropower International Co. Ltd., Hong Kong.

·         Zhaoheng International Ltd., Hong Kong.

·         Zhaoheng Kunshan Specialty Steel Co. Ltd., China.

etc.

 

 

BUSINESS REGISTRATION NUMBER

 

37612040

 

 

COMPANY FILE NUMBER

 

1106917

 

 

MANAGEMENT

 

Managing Director:  Mr. Xu Guo Sheng

 

 

CAPITAL

 

Nominal Share Capital:   HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

SHAREHOLDER

(As per registry dated 01-02-2011)

 

Name

 

No. of shares

Zhaoheng Holdings Ltd., Hong Kong.

 

1,000,000

=======

 

 

DIRECTORS  

(As per registry dated 01-02-2011)

 

Name

(Nationality)

 

Address

ZHOU Qiao Li

Unit B, 2/F., Tower 15, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong.

 

XU Guo Sheng

Unit B, 2/F., Tower 15, One Beacon Hill, 1 Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong.

 

 

SECRETARY 

(As per registry dated 01-02-2011)

 

Name

Address

Co. No.

Union Alpha (Hong Kong) Ltd.

19/F., 3 Lockhart Road, Wanchai, Hong Kong.

0589835

 

 

HISTORY

 

The subject was incorporated on 1st February, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of iron and steel materials, etc.

 

Employees:                   5.

 

Commodities Imported:   India, Russia, etc.

 

Markets:                       China, other Asian countries, Europe, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$1,000,000.00

 

Mortgage or Charge:-

Date of  Deed of Indemnity, Charge Over Deposit and Set-Off: 18-03-2011

 

Amount:                        All moneys in respect of general banking facilities

 

Property:                       All the Company’s estate, right, title, claim, benefit and interest to and in the Deposit (Customer No. 012-2797913-8) and all interest from time to time payable thereon and together with all title deeds or documents relating thereto

 

Mortgagee:                    Bank of China (Hong Kong) Ltd., Hong Kong.

 

Profit or Loss:                Making a small profit every year.

           

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making active use of general banking facilities.

           

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         Bank of China Ltd., Hong Kong Branch.

 

Standing:                      Normal.

 

GENERAL

 

Zhaohang Steel Ltd. is a wholly-owned subsidiary of Zhaoheng Holdings Ltd. which is a Hong Kong-registered firm located at the same operating address.

The subject is a member of the Zhaoheng Group.

The subject is trading in all kinds of iron and steel materials.  Its main associated companies are the following three China firms:-

Shenzhen Zhaoheng Fushun Specialty Steel Co. Ltd.

Shenzhen Zhaoheng Specialty Steel Co. Ltd. [Shenzhen Zhaoheng]

Zhaoheng Kunshan Specialty Steel Co. Ltd.

Collectively the above firms are known as Zhaoheng Specialty Steel.  Zhaoheng Specialty Steel is an alloy steel distributor and exporter in China.  Started steel business in1994 and jointly set up with Fushun Special Steel in 2000, Zhaoheng Specialty Steel set up three warehouses in Guangdong and Shanghai.  The Group sold more than 30,000 metric tons of high alloy steel in 2007.  Zhaoheng Specialty Steel has developed service networks in South and East China.  It also has been cooperating with the main alloy steel distributors in Europe.

The Group now has formed strategic cooperation with most alloy steel manufacturer in China, like Fushun Dalian Beiman Changcheng, etc.  It also acts as the agent for the Crucible steel distributor and distributes the CPM steel in China.

Shenzhen Zhaoheng is a joint venture between Fushun Special Steel (Dongbei Special Steel Group) and Zhaoheng Group.  This firm is the direct sales branch of the mill and in charge of the sales of South China and international market.  Your given phone number is the contact number of Shenzhen Zhaoheng.

Acting as the sole agent of Crucible (USA) and Lucchini (Italy) in mainland China, Shenzhen Zhaoheng supplies the following products with mill price:-

·         Cold Work Steel (A2/1.2363, 01/1.2510, D2/1.2379, D3/1.2080, SKD11, S7)

·         Hot Work Steel (H11/1.2343, H13/1.2344, H21/1.2581, L6/1.2714)

·         Plastic Work Steel (P20/1.2311, 718/1.2738, S136/1.4034, NAK80)

·         Carbon Structural Steel (1018, 1045/S45C, 1050/S50C, 20Mn, 40Mn)

·         Carbon Tool Steel (T7, T8, T10, T11)

·         Alloy Tool Steel (4140/42CrMo4, 4340/40CrNiMoA, 51CrV4 38CrMoAl)

·         High Speed Steel (M2, M35, M42, T1)

·         Alloy Structural Steel (20Cr, 40Cr, 4140/42CrMo4, 40CrNiMoA/4340, 8620)

·         Machinery Steel (20CrNiMo/8620, 4130, 4140/42CrMo4)

·         Stainless Steel (201, 202, 301, 302, 304, 304L, 316, 316L, 310S, 430, 490L)

·         Seamless Pipe (4140/42CrMo4)

·         Mould and Die Steel (P20/1.2311, H13/1.2344, 01/1.2510, 718/1.2738, 1045/S45C, etc.)

The subject also trades in the above products.  History in Hong Kong is over four years and nine months.

The CEO of the Group Mr. Xu Guo Sheng is also the managing director of the subject.

On the whole, in view of the background of the subject, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.38

UK Pound

1

Rs.79.20

Euro

1

Rs.67.84

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

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.