MIRA INFORM REPORT

 

 

Report Date :

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

HONGKONG  GRANDWAY  (HOLDINGS)  CO.  LTD.

 

 

Registered Office :

C/o Gangfeng Group (HK) Ltd.

Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

17.03.2011

 

 

Com. Reg. No.:

58095665

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Non ferrous metals and alloys, jewellery, leisure products, furniture, light industrial products, arts and crafts, machinery, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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 and address

 

HONGKONG  GRANDWAY  (HOLDINGS)  CO.  LTD.

 

 

ADDRESS:      

C/o Gangfeng Group (HK) Ltd.

Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

PHONE:            2710 8200,  2781 0282

 

FAX:                 2710 8266,  2781 0816

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Jifang

 

 

SUMMARY

 

Incorporated on:             17th March, 2011.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$10,000.00

Issued:              HK$10,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

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

 

Banking Relation:           Too early to comment.

ADDRESS

 

Registered Head Office:-

c/o Gangfeng Group (HK) Ltd.

Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok, Kowloon, Hong Kong.

 

Associated Companies:-

Can Yin Jewelry, China.

Ningbo Jade Zing-Yuan Metals Industry Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

58095665

 

 

COMPANY FILE NUMBER 

 

1574820

 

 

MANAGEMENT

 

Managing Director:  Mr. Li Jifang

 

 

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

 

 

SHAREHOLDERS

(As per registry dated 17-03-2011)

 

Name

 

No. of shares

LI Jifang

 

6,000

GU Zhen

 

2,000

CHEN Yuanyuan

 

2,000

 

 

––––––

 

Total:

10,000

=====

 

DIRECTORS  

(As per registry dated 17-03-2011)

 

Name

(Nationality)

 

Address

GU Zhen

999 East Section, Yin County Dadao, Zhonggongmiao Jiedao, Yinzhou District, Ningbo City, Zhejiang Province, China.

 

CHEN Yuanyuan

1 Apartment of Industrial Bureau, Chengxiang Town, Xiaoshan District, Hangzhou City, Zhejiang Province, China.

 

LI Jifang

Room 5-36, Lotus Bridge Village, Yunlong Town, Yinzhou District, Ningbo City, Zhejiang Province, China.

 

 

SECRETARY 

(As per registry dated 17-03-2011)

 

Name

Address

Co. No.

Gangfeng Group (HK) Ltd.

Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok, Kowloon Hong Kong.

1037856

 

 

HISTORY

 

The subject was incorporated on 17th March, 2011 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, Exporter and Wholesaler.

 

Lines:                           Non ferrous metals and alloys, jewellery, leisure products, furniture, light industrial products, arts and crafts, machinery, etc.

 

Employees:                   Nil.

 

Materials/Commodities:  Imports raw materials from European countries, some Asian countries and finished products from China.

 

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

 

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

 

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

 

FINANCIAL INFORMATION

 

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

 

Issued Share Capital:     HK$10,000.00

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

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

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 10,000 ordinary shares of HK$1.00 each, Hongkong Grandway (Holdings) Co. Ltd. is jointly owned by three China merchants, namely, Mr. Li Jifang holding 60% interests; Mr. Gu Zhen, holding 20%; and Mr. Chen Yuanyuan, also 20%.  They are also directors of the subject.  Currently, they are residing in Zhejiang Province, China.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at Room 1318-1320, 13/F., Hollywood Plaza, 610 Nathan Road, Mongkok, Kowloon, Hong Kong known as Gangfeng Group (HK) Ltd. [Gangfeng Group] which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.  Your given phone and fax number belong to Gangfeng Group.

The subject has no employees in Hong Kong.

Nominally, the subject is headquartered in Hong Kong.  It is mainly engaged in exporting, importing and domestic trading business.  It trades in non ferrous metals, alloys, jewellery, leisure products, furniture, light industrial products, arts and crafts, machinery, fitness equipment, tools, etc.  It is also engaged in financing and making investments.

The subject’s business is operated by the three shareholders who are in Ningbo and Hangzhou City, Zhejiang Province, China.

The subject belongs to the Grandway Group.  The other members of the Group are Can Yin Jewelry and Ningbo Jade Zing-Yuan Metals Industry Co. Ltd.

Ningbo Jade Zing-Yuan Metals Industry Co. Ltd. [NJZY] is one of the associates of the subject.  NJZY is a manufacturer and master distributor of non-ferrous and specialty metals with superior quality.  It is located in Ningbo City, Zhejiang Province, China.

NJZY’s trades in alloys and specialty metals.  It has had the largest inventory of its kind in China.  Its products include fine-tooled cast, forged, rolled and drawn beryllium copper alloys, beryllium aluminium alloys, aluminium bronzes, phosphor bronzes, resistance welding materials, lead frame materials, high conduction alloys, nickel silvers, cupronickels and copper nickel silicon alloys in plates, rounds, hollows, strips, foils, wires and extrusions.  It can produce products according to customers’ specific requirements.  All its products are in conformity with the national and international standards such as ASTM, DIN, EN, JIS, RWMA, AMS, etc.

It is likely NJZY deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  NJZY 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 active.

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.22

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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.