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Report Date : |
28.12.2012 |
IDENTIFICATION DETAILS
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Name : |
CUMIC STEEL LTD. |
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Registered Office : |
C/o HKRTP Ltd. MSH 3061, Room 1007, 10/F., Ho King Centre, 2-16 Fa Yuen Street, Mongkok, Kowloon |
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Country : |
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Date of Incorporation : |
16.01.2006 |
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Com. Reg. No.: |
36376794 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Iron and steel materials and products. |
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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 |
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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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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 |
Source : CIA
CUMIC STEEL
LTD.
ADDRESS: c/o HKRTP Ltd.
MSH 3061, Room 1007, 10/F., Ho King Centre,
PHONE: Not available
FAX: Not available
Managing Director: Mr. Zhang
Jiahua
Incorporated on: 16th
January, 2006.
Organization: Private
Limited Company.
Capital: Nominal: HK$20,000,000.00
Issued: HK$20,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd.,
Banking Relation: Satisfactory.
Registered Office:-
c/o HKRTP Ltd.
MSH 3061, Room 1007, 10/F., Ho King Centre,
Associated/Affiliated Company:-
Shanghai Cumic Steel Ltd.
Room 2002, City Centre Tower A,
[Tel: 86-21-5611 8383 Fax:
86-21-5611 9383
E-mail: cumic@cumic.cn]
36376794
1019472
Managing Director: Mr. Zhang
Jiahua
Nominal Share Capital: HK$20,000,000.00 (Di0vided into 20,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
(As per registry dated 16-01-2012)
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Name |
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No. of shares |
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QIAN Haiming |
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15,372,000 |
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ZHANG Jiahua |
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2,000,000 |
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TU Ling |
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828,000 |
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HE Yingliang |
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600,000 |
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GUO Junsheng |
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600,000 |
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[to be
continued] |
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[continued] |
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CHANG Ying |
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600,000 |
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––––––––– |
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Total: |
20,000,000 ======== |
(As per registry dated 19-11-2012)
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Name (Nationality) |
Address |
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SHEN Zuofeng |
Room 202, No. 538, 9 Village Baoshan, Baoshan District, |
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ZHANG Jiahua |
Room 601, No. 356 Building, Gongfu, Baoshan District, |
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TU Ling |
Room 801, No. 22 Building, 667 Haijiang Road, Baoshan District, Shanghai,
China.. |
(As per registry dated 16-01-2012)
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Name |
Address |
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HKRTP Ltd. |
Room 1007, 10/F., Ho King Centre, |
0663489 |
The subject was incorporated on 16th January, 2006 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: Iron
and steel materials and products.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales:
As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$20,000,000.00 (Divided into 20,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$20,000,000.00
Mortgage or Charge (since 2009): (See attachment)
Profit or Loss: Keeping a balance account in
Condition: Business
is not active in
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
DBS Bank (Hong Kong) Ltd.,
Agricultural Bank of
BNP Paribas, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp.
Ltd.,
Standing:
Small.
Having issued 20 million ordinary shares of HK$1.00 each, Cumic Steel
Ltd. is jointly owned by six
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at MSH 3061, Room 1007, 10/F., Ho King Centre,
The subject has no employees in
According to the subject, its businesses started in May, 2006 and the first
deal was concluded also in May, 2006.
To our knowledge, the subject has had an associated company in
Shanghai Cumic is devoted to the steel business including international
trading. It is also involved in local
processing and distribution for steel products.
The management term of Shanghai Cumic is consisted to be experienced
professionals in the steel industry.
Shanghai Cumic enjoys good reputation in the steel industry in
Shanghai Cumic trades in carbon steel and special steel. The products carried by Shanghai Cumic
includes long products, flat products, special products, pipes and tubes, slab
and billet, and iron and steel raw materials.
Shanghai Cumic keeps stable relationship with local and overseas iron
and steel mills, especially those based in
Shanghai Cumic also maintains long term, stable and close ties with
close prime world bank, insurance companies, shipping companies, main port
authorities, etc.
On 8th August, 2006, Shanghai Cumic was granted facility from prime
world bank.
In 2007, Shanghai Cumic penetrated the
In 2008, the turnover of Shanghai Cumic amounted to US$250 million and
its total sales volume was 300,000 metric tonnes.
In 2008, Shanghai Cumic penetrated the Latin America and
In 2011, its sales of steel reached 620,000 metric tonnes.
Many large iron and steel companies are the main suppliers of Shanghai
Cumic.
Now, the annual sales turnover of Shanghai Cumic ranges from US$550 to
600 million.
It is likely that Shanghai Cumic deals with foreign parties under the
name of the subject and let foreign firms correspond with the subject’s
registered address in Hong Kong.
Shanghai Cumic also exports commodities to foreign markets under the
name of the subject and its registered address in Hong Kong.
The subject’s business in Hong Kong is not very active.
On the whole, 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.
(Since 2009)
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Date |
Particulars |
Amount |
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02-03-2009 |
Instrument: Charge on Cash Deposit to secure
Liabilities of the Depositor Property: 1) By way of first fixed charge
and agreement to charge: the Deposit and all right, title and interest of the
Company 2) By way of set-off: any
sum standing to the credit of any one or more of the accounts of the Company
with the Bank Mortgagee: DBS Bank (Hong Kong) Ltd.,
Hong Kong. |
All sums of money and liabilities |
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20-12-2010 |
Instrument: Deed of Charge Property: As security for the due payment and discharge of the Secured Amounts,
the Company (a) charges to the Bank by way of floating charge all its right,
title and interest in and to all Goods; and (b) charges to the Bank by way of
first fixed charge all its right, title and interest in and to all Credit
Balances; and (c) assigns to the Bank by way of first fixed security all
Contract Rights and the benefit of any Security Interest and securities for
the time being held by the Company in respect of any such Contract Rights Mortgagee: BNP Paribas, Singapore Branch. |
All moneys and liabilities |
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25-06-2012 |
Instrument: Security Over Deposits with the Bank Property: A deposit with Chargee in the amount of US$3,850,000 - under Deposit
A/C No. 808-580799 whatever currency it may subsequently be denominated in,
any renewal of such deposit & the interest thereon together with any further
monies in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
All monies in any currency owing by the Company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.84 |
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1 |
Rs.88.55 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.