MIRA INFORM REPORT
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Report Date : |
29.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KINGSTON BAY HOLDINGS LIMITED QINGDAO
REPRESENTATIVE OFFICE |
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Registered Office : |
2-2-602, Jinhai Guang Chang, No. 136 Aomen
Road, Shinan District, Qingdao City, Shandong Province 266071 Pr |
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Country : |
China |
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Date of Incorporation : |
22.01.2007 |
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Com. Reg. No.: |
3702008002894 |
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Legal Form : |
Representative Office |
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Line of Business : |
trade consultation and liaison services about business scope of its
parent company |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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China |
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 & address
KINGSTON BAY HOLDINGS LIMITED QINGDAO
Representative office
2-2-602, jinhai guang
chang, no. 136 aomen road
shinan DISTRICT,
qingdao CITY
shandong PROVINCE
266071 PR CHINA
TEL: 86 (0)
532-85063229/85062893
FAX: 86 (0)
532-85062732
EXECUTIVE SUMMARY
Date of Registration : JANUARY 22, 2007
REGISTRATION NO. : 3702008002894
LEGAL FORM : Representative office
REGISTERED CAPITAL : --
staff :
8
BUSINESS CATEGORY : consultation & liaison services
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : www.kingston-bay.com
E-MAIL :
N/A
PAYMENT :
NOT YET BE DETERMINED
Recommended Credit
Limit :
C.O.D.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.47 = USD 1
Adopted abbreviations
(as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as a representative office of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 3702008002894 on January 22, 2007.
***Note:
Foreign company, which has entered into a
contract with a PR China co., is permitted to establish a representative office
in PR China. The representative office may engage only in “non-direct operating
activities” such as liaison, consulting, market research & general
information gathering. At present, representative office is not allowed to
employ local employees in its own name and must use PR China employment
agencies.
SC’s Organization Code Certificate No.:
797514489
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s parent company & chief executives
are as follows:-
|
Name of Parent Company |
|
Kingston Bay Holdings Limited (Hong Kong) |
SC’s Chief Executives:-
Principal: Liu Zhihua
RECENT DEVELOPMENT
No significant events or recent development were found during our
checks.
PARENT COMPANY & BACKGROUND
Name
Kingston Bay Holdings Limited (Hong Kong)
Kingston Bay
Holdings Limited (Hong Kong)
-------------------------------------------------------
Registration No.: 1330737
Legal Form: Private
MANAGEMENT
Liu Zhihua,
Principal
--------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø
Qualification:
University
Ø
Nationality:
Hong Kong
Ø
Working
experience (s):
From 2007 to present, working in SC as principal
Also working in Qingdao Yuntongtai International Trade Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope includes trade consultation and liaison services about
business scope of its parent company.
SC is mainly engaged
in trade consultation and liaison services about
business scope of its parent company.
The products
mainly include:
Export
products: shrimp, squid, powder coating line, surface drag series, as well as
spring rolls series, cod fillets, Pacific / Atlantic cod fillets, tilapia
fillets, salmon (salmon) and other frozen seafood.
Imported
products are: shrimp, sea Pu Central and South America (with its skin shrimp,
shrimp), sea Pu fish (sesame grouper, Lion plaque, erythema, large macula) of
silver pomfret, mackerel, junior tooth fish, perch and so on. Fish, squid and
other raw materials in Argentina.
Staff & Office:
--------------------------
SC is known
to have approx. 8 staff at
present.
SC rents an area
as its operating office, which located in CBD Business Centre of Qingdao, but
the detailed information is unknown.
RELATED COMPANY
Qingdao
Yuntongtai International Trade Co., Ltd.
Date of
Registration:
Registration
No.: 370200400129172
Legal Form:
wholly foreign-owned enterprise
Chief
Executive: Liu Zhihua
Registered
Capital: USD 100,000
Shareholder
(s): Liu Zhihua (Hong Kong Citizen) 80%
Lin Yanling
(American) 20%
Note: According to internet sources, the above company-Qingdao Yuntongtai International Trade Co., Ltd. ever used the name “Kingston Bay Holdings Limited” as trade name. But SC’s management released that this company stopped the business two or three years ago. The information from SAIC also indicates that Qingdao Yuntongtai International Trade Co., Ltd. has no business, but the business license has not been cancelled yet.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience (through current enquiry with SC's
suppliers), our delinquent payment and our debt collection record concerning
SC.
Trade payment experience: N/A
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
BANKING
SC’s management refused
to release bank information.
FINANCIALS
As a representative office, SC is not allowed
to engage in direct business. All its expenses are supposed to be provided by
its parent company. Therefore, its financial information is not available.
CONCLUSIONS
SC is a representative office, which is not engaged in direct business.
Credit dealings with SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.91 |
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UK Pound |
1 |
Rs.76.53 |
|
Euro |
1 |
Rs.66.43 |
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 |
|
---- |
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.