|
Report Date : |
17.08.2012 |
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 : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.16.2007 |
|
|
|
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Com. Reg. No.: |
38097001 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of Iron and steel, petrochemical products, etc. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
--- |
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 30, 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 |
HONGKONG GRAND
INTERNATIONAL CO. LTD.
c/o North Asia
Corporate Services Ltd.
Suite 1001-1002
& 1005, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon, Hong
Kong.
PHONE: 2724 1223
FAX: 2722 4373
Managing Director: Mr. Jin Bo
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., Hong Kong.
Banking Relation: Satisfactory.
HONGKONG GRAND
INTERNATIONAL CO. LTD.
Registered
Head Office:-
c/o North Asia
Corporate Services Ltd.
Suite 1001-1002
& 1005, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui, Kowloon, Hong
Kong.
China
Office:-
6F-O, Hongqiao
Business Center, 2272 Hongqiao Road, 200032 Shanghai, China.
[Tel: 86-21-6217
9585; Fax: 86-21-6127 9584]
Holding
Company:-
Grand Group
Corporation, China.
[Formerly known as
Zhejiang Grand Import & Export Co. Ltd.]
Associated/Affiliated
Companies:-
Chengdu Xiangyuan Polymeric Materials Co. Ltd., China.
Grand Cross International Co. Ltd., China.
Grand Pechochemical Co. Ltd., China.
Hainan Sino-source Petrochemical Industrial Co. Ltd., China.
Hangzhou Guanji Chemical Industry Co. Ltd., China.
Ningbo Grand International Logistics Co. Ltd., China.
Ningbo Grand International Trading Co. Ltd., China.
Ningbo Shenyuan Polymeric Materials Co. Ltd., China.
Ningbo Yuanxin Logistics Co. Ltd., China.
Qingdao Guoyuan Rubber Material Co. Ltd., China.
Tianjin Grand Tianyi Petrochemical Co. Ltd., China.
Xingjiang Tianyi Petrochemical Co. Ltd., China.
Yuyao Grand Plastics Co. Ltd., China.
Zhejiang New Vision Import & Export Co. Ltd., China.
38097001
1143985
Managing
Director: Mr. Jin Bo
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
(As per registry dated 25-06-2011)
|
Name |
|
No.
of shares |
|
Grand Group Corporation Jinying Trading Building, Kaifa District, Daxie, Ningbo, Zhejiang,
China. |
|
1,000,000 ======= |
(As per registry dated 25-06-2011)
|
Name (Nationality) |
Address |
|
JIN Bo |
Room 504, No. 14, Lane 58, Caihong South
Road, Jiangdong District, Ningbo, Zhejiang, China. |
|
LI Zhi Guang |
Room 504, No. 3, Lane 15, Xianxia Road,
Changning District, Shanghai, China. |
(As per registry dated 25-06-2011)
|
Name |
Address |
Co.
No. |
|
Larich
Ltd. |
Suite 1001-1002, 10/F., Albion Plaza, 2-6 Granville Road, Tsimshatsui,
Kowloon, Hong Kong. |
0437591 |
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.
Activities: Importer and Exporter.
Lines: Iron and steel, petrochemical products, etc.
Employees: Nil.
Commodities Imported: Asia, North & South America, etc.
Markets: China, Japan, USA, Europe, etc.
Group Annual Turnover: RMB18~20 billion Yuan.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
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 Hong Kong.
Condition: Business is not very active in Hong Kong.
Facilities: Making fairly active use of general banking facilities.
Payment: Unknown
Commercial
Morality: Satisfactory.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
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 (Hong Kong) Ltd., Hong Kong.
Standing: Small.
Incorporated
in June 2007, Hongkong Grand International Co. Ltd. is a wholly-owned
subsidiary of Grand Group Corporation [Grand] (renamed from Zhejiang Grand
Import & Export Co. Ltd. in July 2010) which is a China-based firm.
The
directors of the subject are Mr. Jin Bo and Mr. Li Zhi Guang. The former is a China passport holder while
the latter is a China ID holder. Both do
not have the right to reside in Hong Kong permanently.
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 Suite
1505-1506, 15/F. of the same building, moved to the present address in
September 2008.
The
subject has no employees in Hong Kong.
It is engaged in the same lines of business as Grand.
The
subject’s main office is in Shanghai, China which was founded in January 1994. The sales manager is a Mr. Lin. This firm is administered by Li Zhi Guang who
is a director of the subject. The phone
number and fax number of the Shanghai Office is 021-6127 9585 and 021-6127 9584
respectively.
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 India, Russia,
etc. Products are exported to worldwide
countries.
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 China’s Top 500
enterprises in 2009.
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
Shanghai, Beijing, Dalian, etc. and in countries of South Korea, Turkey and
Vietnam. Major import products include
plastic materials, liquid chemicals, medicinal compounds, timber, metals, and
other staple products. Products are
imported from South Korea, Japan, Singapore, India, the United States, Taiwan,
the United Arab Emirates, etc. Prime
markets of the Group are the United States, Japan, Europe, including more than
50 countries and regions of the world.
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 Zhejiang Province, China.
In
July 2011, Grand ranked the seventh in 100 top enterprises in Ningbo City,
Zhejiang Province, China. It also has
got the other awards.
Lianyungang
Ideal Group Co. Ltd., a listed firm in China, holds 52% of Grand’s interests
and some of the employees hold 48%.
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. Jin Bo is the CEO of Grand. 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 Hong Kong. The history of the subject in Hong Kong is
over four years and nine months.
Since
the subject does not have its own office and has no employees in
Hong Kong, consider it good for business engagements on L/C basis.
|
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 (China) Ltd., China. |
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
Paribas, Singapore Branch. |
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., Hong Kong. |
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 (Hong Kong) Ltd. |
|
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 China (Asia) Ltd., Hong Kong. |
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 (Hong Kong) Ltd., Hong Kong. |
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 (Hong Kong) Ltd., Hong Kong. |
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 (Hong Kong) Ltd., Hong Kong. |
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., Hong Kong. |
All obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.