|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZHAOHENG RESOURCES
LTD. |
|
|
|
|
Registered Office : |
Unit 5, 3/F., Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
11.06.2012 |
|
|
|
|
Com. Reg. No.: |
59934335 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Trader of all
kinds of iron and steel materials, alloys, iron ore, Ferro Chrome, etc. |
|
|
|
|
No. of Employees : |
6. (Including associate) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
ZHAOHENG
RESOURCES LTD.
ADDRESS: Unit 5, 3/F., Mirror Tower, 61 Mody
Road, Tsimshatsui, Kowloon, Hong Kong.
PHONE: 2787 3355
FAX: 2152 0026
Managing Director: Mr. Xu Guo Sheng
Incorporated on: 11th June, 2012.
Organization: Private Limited Company.
Capital: Nominal: HK$2.00
Issued: HK$2.00
Business Category: Iron & Steel Trader.
Employees: 6. (Including associate)
Main Dealing Banker: Bank of China (Hong Kong) Ltd.,
Hong Kong.
Banking Relation:
Satisfactory.
Registered Head Office:-
Unit 5, 3/F.,
Mirror Tower, 61 Mody Road, Tsimshatsui, Kowloon, Hong Kong.
Zhaoheng Holdings
Ltd., China.
Zhaoheng Holdings
Ltd., Hong Kong. (Same address)
Zhaoheng Group of
Companies
iPanel
Technologies Ltd., China.
Shenzhen Zhaoheng
Fushun Specialty Steel Co. Ltd., China.
Shenzhen Zhaoheng
Hydropower Co. Ltd., China.
Shenzhen Zhaoheng
Industrial Co. Ltd., China.
Shenzhen Zhaoheng
Specialty Steel Co. Ltd., China.
Zhaoheng
Hydropower (Hong Kong) Ltd., Hong Kong.
Zhaoheng
Hydropower International Co. Ltd., Hong Kong.
Zhaoheng
International Ltd., Hong Kong.
Zhaoheng Kunshan
Specialty Steel Co. Ltd., China.
Zhaoheng Leather
Trading Ltd., Hong Kong.
Zhaoheng Steel
Ltd. Dalian Office, China.
Zhaoheng Steel
Ltd., Hong Kong. (Same address)
etc.
59934335
1757832
Managing
Director: Mr. Xu Guo Sheng
Nominal Share
Capital: HK$2.00 (Divided into 2 shares of HK$1.00 each)
Issued Share
Capital: HK$2.00
(As per registry dated 11-06-2012)
|
Name |
|
No.
of shares |
|
Zhaoheng Holdings Ltd., Hong Kong. |
|
2 = |
(As per registry dated 11-06-2012)
|
Name (Nationality) |
Address |
|
ZHOU Qiao Li |
Unit B, 2/F., Tower 15, One Beacon Hill, 1
Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong. |
|
XU Guo Sheng |
Unit B, 2/F., Tower 15, One Beacon Hill, 1
Beacon Hill Road, Kowloon Tong, Kowloon, Hong Kong. |
(As per registry dated 11-06-2012)
|
Name |
Address |
Co.
No. |
|
Union
Alpha (Hong Kong) Ltd. |
19/F., 3 Lockhat Road, Wanchai, Hong Kong. |
0589835 |
The
subject was incorporated on 11th June, 2012 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:
Iron & Steel
Trader.
Lines: All kinds of
iron and steel materials, alloys, iron ore, Ferro Chrome, etc.
Employees: 6. (Including associate)
Commodities
Imported: India, Russia, etc.
Markets: China, other Asian
countries, Europe, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
Nominal Share Capital: HK$2.00 (Divided into
2 shares of HK$1.00 each)
Issued Share Capital: HK$2.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Is
making use of general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality: Satisfactory
Banker: Bank of China
(Hong Kong) Ltd., Hong Kong.
Standing: Normal.
Zhaoheng
Resources Ltd. is a wholly-owned subsidiary of Zhaoheng Holdings Ltd. which is
a Hong Kong-registered firm located at the same operating address. The head office of this firm is in Shenzhen
Special Economic Zone, China.
The
subject is a member of the Zhaoheng Group which is China-based. The Group is located at Flat A, 17/F.,
Jinfengcheng Building, 5015 Zhenzhen East Road, Shenzhen Special Economic Zone,
China.
Your
given phone and fax number 86-755-8207 0166 and 86-755-8207 1999 respectively
belong to Zhaoheng Holdings Ltd. which is in Shenzhen Special Economic Zone.
The
subject has had a main associated company Zhaoheng Steel Ltd. which is located at
the same address of the subject.
The
Group is trading in all kinds of iron and steel materials. Its main associated companies are the
following three China firms:-
1. Shenzhen
Zhaoheng Fushun Specialty Steel Co. Ltd.
2. Shenzhen
Zhaoheng Specialty Steel Co. Ltd. [Shenzhen Zhaoheng]
3. Zhaoheng
Kunshan Specialty Steel Co. Ltd.
Collectively
the above firms are known as Zhaoheng Specialty Steel. Zhaoheng Specialty Steel is an alloy steel
distributor and exporter in China.
Started steel business in1994 and jointly set up with Fushun Special
Steel in 2000, Zhaoheng Specialty Steel has set up three warehouses in
Guangdong Province and Shanghai. The
Group sold more than 30,000 metric tons of high alloy steel in 2007. Zhaoheng Specialty Steel is trying to
penetrate the South Korea market. It is
finding partners in South Korea.
Zhaoheng
Specialty Steel has developed service networks in South and East China. It also has been cooperating with the main
alloy steel distributors in Europe.
Zhaoheng
Specialty Steel is trading in the following commodities: carbon structure
steel, tool steel, alloy structural steel, forgings, high speed steel, bearing
steel, stainless steel, CPM, etc.
The
Group now has formed strategic cooperation with most alloy steel manufacturers
in China, like Fushun Dalian Beiman Changcheng, etc. It also acts as the agent for the Crucible
steel distributor to distribute the CPM steel in China.
Shenzhen
Zhaoheng is a joint venture between Fushun Special Steel (Dongbei Special Steel
Group) and Zhaoheng Group. This firm is
the direct sales branch of the mill and in charge of the sales of South China
and international market.
Acting
as the sole agent of Crucible (US) and Lucchini (Italy) in mainland China,
Shenzhen Zhaoheng supplies the following products with mill price:-
·
Cold Work Steel (A2/1.2363, 01/1.2510, D2/1.2379,
D3/1.2080, SKD11, S7)
·
Hot Work Steel (H11/1.2343, H13/1.2344, H21/1.2581,
L6/1.2714)
·
Plastic Work Steel (P20/1.2311, 718/1.2738,
S136/1.4034, NAK80)
·
Carbon Structural Steel (1018, 1045/S45C,
1050/S50C, 20Mn, 40Mn)
·
Carbon Tool Steel (T7, T8, T10, T11)
·
Alloy Tool Steel (4140/42CrMo4, 4340/40CrNiMoA,
51CrV4 38CrMoAl)
·
High Speed Steel (M2, M35, M42, T1)
·
Alloy Structural Steel (20Cr, 40Cr, 4140/42CrMo4,
40CrNiMoA/4340, 8620)
·
Machinery Steel (20CrNiMo/8620, 4130, 4140/42CrMo4)
·
Stainless Steel (201, 202, 301, 302, 304, 304L,
316, 316L, 310S, 430, 490L)
·
Seamless Pipe (4140/42CrMo4)
·
Mould and Die Steel (P20/1.2311, H13/1.2344,
01/1.2510, 718/1.2738, 1045/S45C, etc.)
The
subject also trades in the above products.
It also trades in Ferro-chrome alloy.
The
CEO of the Group Mr. Xu Guo Sheng is also the managing director of the subject.
Zhaoheng
Group has had the following main co-operators:-
·
State Power Grid of China
·
Jinjian Rice Industry
·
Tak Sing Alliance Holdings Ltd.
·
Fushun Special Steel Co., Ltd.
·
Huazhong University of Science and
Technology
·
Beijing Gehua CATV Network Co.,
Ltd.
·
Hunan Province Water Facilities and Water Power
Exploring & Designing Institute
The
history of the subject in Hong Kong is just over six months.
On
the whole, since the history of the subject is short, consider it good for
normal business engagements on L/C basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)