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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SAMWAY INTERNATIONAL LTD. |
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Registered Office : |
c/o Wealth River Business Consultant Ltd. Flat B, 11/F., Wing Tat Commercial Building, 121‑125 Wing Lok
Street, Sheung Wan |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.12.2010 |
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Reg. No.: |
53558909 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of All kinds of canned food, 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 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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source : CIA |
SAMWAY
INTERNATIONAL LTD.
c/o Wealth River Business Consultant Ltd.
Flat B, 11/F., Wing Tat Commercial Building, 121‑125 Wing Lok
Street, Sheung Wan, Hong Kong.
PHONE: Not available.
FAX: Not available.
Managing Director: Mr. Yang Xiao
Ping
Incorporated on: 31st December, 2010.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Canned
food trader.
Employees: Nil.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
SAMWAY
INTERNATIONAL LTD.
Registered
Office:-
c/o Wealth River Business Consultant Ltd.
Flat B, 11/F., Wing Tat Commercial Building, 121‑125 Wing Lok
Street, Sheung Wan, Hong Kong.
Associated
Company:-
Guangzhou Bailin Industry & Commerce Co. Ltd.
18, 3rd street, Sijinan, Huangpu, Guangzhou,
Guangdong, China.
[Tel: 86-20-3203 5370 Fax:
86-20-8239 7753]
BUSINESS REGISTRATION NUMBER
53558909
1546823
Managing Director: Mr. Yang Xiao
Ping
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$10,000.00
(As per registry dated 31-12-2011)
|
Name |
|
No. of shares |
|
YANG Xiao Ping |
|
10,000 ===== |
(As per registry dated 31-12-2011)
|
Name (Nationality) |
Address |
|
YANG Xiao Ping |
Room 705, 9 Dong, Jin Bi Shi Ji Hua Yuan, Huang Pu District,
Guangzhou, China. |
(As per registry dated 31-12-2011)
|
Name |
Address |
Co. No. |
|
Wealth River Business Consultant Ltd. |
Flat B, 11/F., Wing Tat Commercial Building, 121‑125 Wing Lok
Street, Sheung Wan, Hong Kong. |
1207840 |
The subject was incorporated on 31st December, 2010 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.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of canned food, etc.
Employees: Nil.
Commodities Imported: China, etc.
Markets: China,
India, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: As per contracted.
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: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Standing: Small.
Samway International Ltd. was incorporated on 31st December, 2010 as a
private limited liability company. The subject
has issued 10,000 ordinary shares of HK$1.00 each which are wholly-owned by
Mr. Yang Xiao Ping who is a China merchant. He is also the only director of the
subject. Currently residing in
Guangzhou, Guangdong Province, China, Yang is a China ID Card holder and does
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 Flat B, 11/F., Wing Tat Commercial Building, 121‑125
Wing Lok Street, Sheung Wan, Hong Kong known as Wealth River Business
Consultant Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject.
The subject has no employees in Hong Kong. It is a canned food trader. It has had an associated company in
Guangzhou, Guangdong Province, China known as Guangzhou Bailin Industry &
Commerce Co. Ltd. [Bailin].
We can reach Yang Xiao Ping at Bailin’s phone number at 86-20-3203 5370.
Bailin is specializes in producing and exporting canned foods. It was established in 1994 with a registered
capital of RMB 36.8 million Yuan. It has
five workshops and six automated production lines.
It has two agricultural plantations of mushroom and bamboo shoot
respectively with over each 100 acres of area.
There are two manufactories in China.
One is tomato processing manufactory near Gansu which can process 1,500
tons of fresh tomatoes per day and export 10,000 tons of tomato paste per
year. The annual sales turnover is over
RMB 1 billion Yuan. Business is active.
Bailin is not only one of the leading enterprises in processing
agricultural products, but also an executive director of the Canned Food
Association of China. Commerce and
Industry Bureau (Code No.: N5) has awarded it the title of “An Accredit Model
Unit”. Its factories has got
ISO9001:2000 and HACCP certifications.
Bailin is able to produce more than 30 kinds of canned food.
Its products meet the requirements of Muslim food standards. Its canned food are sold well in Europe,
America, the Middle East and Southeast Asia.
Bailin has developed cooperation with African customers in recent
years. It centres on controlling its raw
materials to avoid pollution by pesticides and genetically modify materials to
offer its customers with quality products in reasonable prices.
The owner of Bailin is Mr. Bailin.
The contact person is Yang Xiao Ping.
It is likely that Bailin deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is just over about 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
|
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
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 |
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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 |
|
<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.