MIRA INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
HONGKONG
GRAND INTERNATIONAL CO.
LTD. |
|
|
|
|
Registered Office : |
c/o North Asia Corporate Services Ltd., Suite 1001-1002 & 1005, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
25.06.2007 |
|
|
|
|
Com. Reg. No.: |
38097001 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of Iron and steel, petrochemical products, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
HONGKONG GRAND
INTERNATIONAL CO. LTD.
Company ADDRESS
c/o
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: Standard Chartered Bank (Hong Kong)
Ltd.,
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office:-
c/o
6F-O,
Holding Company:-
Grand Group Corporation,
[Formerly known as Zhejiang Grand Import & Export Co. Ltd.]
Associated/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 25-06-2011)
|
Name |
|
No. of shares |
|
Grand Group Corporation Jinying Trading Building, Kaifa District, Daxie, |
|
1,000,000 ======= |
DIRECTORS
(As per registry dated 25-06-2011)
|
Name (Nationality) |
Address |
|
JIN Bo |
Room 504, No. 14, Lane 58, |
|
LI Zhi Guang |
Room 504, No. 3, Lane 15, Xianxia Road, Changning District, Shanghai, China. |
SECRETARY
(As per registry dated 25-06-2011)
|
Name |
Address |
|
|
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 wherer 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
Indebtedness: US$11,000,000.00 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 25-06-2011)
Mortgage or Charge: (See attachment)
Profit or Loss: Keeping
a balance account in
Condition: Business
is not very active in
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
·
Standard Chartered Bank (Hong Kong) Ltd.,
· BNP Paribas, Hong Kong Branch.
· Fortis Bank, Hong Kong Branch.
· Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A. [trading as Rabobank International], Hong Kong Branch.
·
RB International Finance (
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
directors of the subject are Mr. Jin Bo and Mr. Li Zhi Guang. The former is a
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
The
subject’s main office is in
The
subject and its Shanghai Office are trading in the following commodities: billets,
deformed bars, wire rods, HR/CR coils/sheet, GI, PPGI, beams, checker plate,
seamless pipe, round bar, stainless steel, etc.
Commodities are imported from
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 and the subject’s Shanghai Office do
business with foreign parties under the name of the subject with its
corresponding address in
Jin Bo is the CEO of Grand.
Since
the subject does not have its own office and has no employees in
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
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 |
|
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 |
|
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 ( |
|
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 |
|
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 |
|
30-05-2011 |
Instrument: Letter of Pledge Property: Any documents, bills of exchange, negotiable instruments, documents of title, transport documents, Insurance policies, delivery orders, godown warrants and any other documents Mortgagee: RB International Finance ( |
All obligations and liabilities |
|
30-05-2011 |
Instrument: Trade Finance Security Assignment Property: All the present and future rights, title, interests and benefits of the Company Mortgagee: RB International Finance ( |
All obligations and liabilities |
|
30-05-2011 |
Instrument: Charge on Collateral Account Property: All and any money from time to time standing to the credit of or earned on such account as shall from time to time be designated by the Lender as the Company’s Collateral Account Mortgagee: RB International Finance ( |
All moneys and liabilities |
|
18-07-2011 |
Instrument: Trade Finance Security Assignment Property: 1) As security for the payment of all Secured Liabilities 2) As security for the Assigned Obligations Mortgagee: Standard Chartered Bank (Hong Kong) Ltd., |
All obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.78.56 |
|
Euro |
1 |
Rs.69.28 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.