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Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
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Name : |
YALI STONE (HONG KONG) LTD. |
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Registered Office : |
c/o Leyland Secretarial Business Ltd. Room 1306, 13/F., Tung Che Commercial Centre, 246 Des Voeux Road West |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.03.2010 |
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Reg. No.: |
51917321 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of stone products, etc. |
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No. of Employees : |
Not Available |
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 : |
No operating office in Hong Kong |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Hong Kong |
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 |
Hong Kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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Source : CIA |
YALI STONE (HONG
KONG) LTD.
c/o Leyland Secretarial Business Ltd.
Room 1306, 13/F., Tung Che Commercial Centre, 246 Des Voeux Road West,
Hong Kong.
PHONE: Not available
FAX: Not available
Managing Director: Mr. Chen
Guokuan
Incorporated on: 12th March, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$2.00
Business Category: Stone product
trader.
Employees: Nil.
Main Dealing Banker: Wing Lung
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
YALI STONE (HONG
KONG) LTD.
Registered
Office:-
c/o Leyland Secretarial Business Ltd.
Room 1306, 13/F., Tung Che Commercial Centre, 246 Des Voeux Road West,
Hong Kong.
Associated
Companies:-
Shanghai Yali Stone Co. Ltd., China.
Sunshine International Minerals (HK) Ltd., Hong Kong.
Xiamen Yali Stone Co. Ltd., China.
Yali Stone Materials Co. Ltd., China.
Yali Stone, India.
51917321
1429853
Managing Director: Mr. Chen
Guokuan
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2.00
(As per registry dated 12-03-2012)
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Name |
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No. of shares |
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CHEN Guokuan |
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1 |
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DOU Yangjun |
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1 |
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– |
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Total: |
2 = |
(As per registry dated 12-03-2012)
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Name (Nationality) |
Address |
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DOU Yangjun |
Room 1702, 3 Mingcheng Court, Lane 333, Ruijin South Road, Shanghai,
China. |
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CHEN Guokuan |
Flat B, 4/F., Changle Court, Central Garden, Fumin Road, Futian
District, Shenzhen Special Economic Zone, China. |
(As per registry dated 12-03-2012)
|
Name |
Address |
Co. No. |
|
X1STREET Ltd. |
Room 1803, 18/F., Kai Yue Commercial Building, Argyle Street, Kowloon,
Hong Kong. |
0711224 |
The subject was incorporated on 12th March, 2010 as a private limited liability
company under the Hong Kong Companies Ordinance.
Long time ago, the subject was located at Flat E, 19/F., Golden Sun
Centre, 59-67 Bonham Strand West, Sheung Wan, Hong Kong, moved to Flat 5,
17/F., Block 4, 100 Shing Tai Road, Heng Fa Chuen, Hong Kong in March 2011 and
further to the present address in April 2012.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of stone products, etc.
Employees: Nil.
Commodities Imported: India, China,
other Asian countries, etc.
Markets: China,
Japan, Taiwan, the other Asian countries, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$2.00
Mortgage or Charge: (See attachment)
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: Wing Lung Bank Ltd., Hong Kong.
Standing: Small.
Yali Stone (Hong Kong) Ltd. is equally owned by Mr. Chen Guokuan and
Mr. Dou Yangjun. The subject has
just issued 2 ordinary shares of HK$1.00 each while each of the holding
companies holds a single share.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at “Room 1306, 13/F., Tung Che Commercial Centre, 246 Des
Voeux Road West,, Hong Kong” known as “Leyland Secretarial Business Ltd.” which
is handling its correspondences and documents.
This firm has had an associated company Leyland Registration Ltd.
located at the same office.
The subject has no employees in Hong Kong.
The subject is a stone and stone product trader. To our knowledge, the subject is controlled
by Yali Stone Materials Co. Ltd. [YSM] which is a China-based firm.
Besides the subject, YSM has had associated companies in Xiamen Special
Economic Zone, and Shanghai of China. It
also has had a “Mineral Department” in India.
YSM’s purchasing department in India is known as Yali Stone.
In India, YSM is operating the followings:-
An iron ore project, Tan Brown Mine, Black Galaxy Mine, Maple Red Mine,
Indian Grey Mine, Indian Azul Mine, New Indian Red Mine, etc.
The subject’s main associated company Xiamen Yali Stone Co. Ltd. [Xiamen
Yali] is also a China-based firm. Xiamen
Yali is operated by Chen Guokuan.
Xiamen Yali has been at natural quarry exploitation and granites
international trade more than ten years.
Every year it purchases more than 600,000 tons of granites from India,
Europe, Brazil and the United States.
Then our clients process those raw stone materials in their factories
into various types of stone products which are supplied to the China and global
markets. It is proficient in the
complexity and flexibility of the stone market.
Relying on our rich experience and deep comprehension of the market,
Xiamen Yali will become a large and professional importer and supplier of
granites in China.
Apart from Xiamen Yali, the subject has had another associated company Shanghai
Yali Stone Co. Ltd. [Shanghai Yali], a China-based firm. This firm is operated by Dou Yangjun.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over two years.
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.
|
Date |
Particulars |
Amount |
|
29-10-2010 |
Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner: (a) Assigns and agrees to
assign absolutely to the Bank all the present and future rights, title,
interests and benefits of the Borrower in and to the following assets: (i)
Export Credits; (ii) Export Collection Bills; (iii) Sales Contracts; (iv)
Invoice Receivables; (v) Insurances; (vi) Trade Documents; and (vii) all
claims, remedies and proceeds in connection with any of the foregoing; and (b) Charges and agrees to
charge to the Bank by way of first fixed charge all the present and future
rights, title, interests and benefits of the Borrower in and to the following
assets: (i) the Goods together with their proceeds; and (ii) the Deposit; and (c) Pledges & agrees
to pledge to the Bank the Pledged Goods and the Trade Documents which are now
or may in the future be in the Bank’s possession Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure banking facilities from time to time granted by Wing Lung
Bank Limited to the Company |
|
29-10-2010 |
Instrument: Security Deed Property: The securities are all the Obligor’s title, rights and interests, all
moneys standing to the credit of the account. Flat E, 19/F. Golden Sun
Centre, 59-67 Bonham Strand West, Sheung Wan, Hong Kong. All past, present future, actual and contingent moneys, debts and
liabilities of the Principal to the Bank Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure banking facilities from time to time granted by Wing Lung
Bank Limited to the Company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
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|
1 |
Rs.87.36 |
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Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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-- |
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.