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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CHINAOIL ( |
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Registered Office : |
Room 1201, Central Plaza, 18 Harbour Road, Wanchai |
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Country : |
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Date of Incorporation : |
10.03.1994 |
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Com. Reg. No.: |
17966455 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Oil Service Stations Operator |
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No. of Employees : |
10. (Office staff) - Including affiliates |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
CHINAOIL (HONG
KONG) CORPORATION LTD.
ADDRESS: Room 1201, Central Plaza, 18
Harbour Road, Wanchai, Hong Kong.
PHONE: 2527 8803
FAX: 2155 3990; 2527 4922
President: Ms. Wang Lihua
Incorporated on: 10th
March, 1994.
Organization: Private
Limited Company.
Capital: Nominal: HK$810,487,943.00
Issued: HK$810,487,943.00
Business Category: Oil Service Station Operator.
Employees:
10. (Office staff) - Including affiliates
Main Dealing Bankers: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 1201, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Holding Company:-
China National United Oil Corporation, China.
Oil Stations:-
1) 80 Pok Fu Lam Road, Hong
Kong. [IL 8986]
2) 137 Tai Hang Road,
Jardine’s Lookout, Hong Kong. [IL 8985]
3) Tung Chung New Town,
Area 26, Lantau Island, Hong Kong.
[TCTL 24]
4) Po Hong Road, Tseung
Kwan O, Sai Kung, New Territories, Hong Kong. [TKOTL 89]
5) Yeung Uk Road, Tsuen
Wan, New Territories, Hong Kong.
[TWTL 408]
Associated/Affiliated Companies:-
Chinaoil (Japan) Co. Ltd., Japan.
Chinaoil (Singapore) International Pte. Ltd., Singapore.
Chinaoil (USA) Inc., US.
Chinaoil Dalian International Trading Co. Ltd., China.
Chinaoil Shanghai International Trading Co. Ltd., China.
PetroChina International (Hong Kong) Corporation Ltd., Hong Kong. (Same address)
PetroChina International Co. Ltd., China.
PetroChina International Fushun Co. Ltd., China.
Qingdao China Oil Co. Ltd., China.
Soaring Dragon Enterprise Ltd., Hong Kong. (Same address)
17966455
0468715
President: Ms. Wang Lihua
Nominal Share Capital: HK$810,487,943.00 (Divided into 810,487,943
shares of HK$1.00 each)
Issued Share Capital: HK$810,487,943.00
(As per registry dated 10-03-2012)
|
Name |
|
No. of shares |
|
China National United Oil Corporation |
|
810,487,943 ========= |
(As per registry dated 10-03-2012)
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Name (Nationality) |
Address |
|
SHEN Dingcheng |
Petrochina International Plaza, No. 27 Cheng Fang Road,
Beijing 100032, China. |
|
WANG Lihua |
Petrochina International Plaza, No. 27 Cheng Fang Road,
Beijing 100032, China. |
|
DING Keying |
Petrochina International Plaza, No. 27 Cheng Fang Road,
Beijing 100032, China. |
|
LU Jian Chi |
Flat 925, 112 An De Road, Xicheng District, Beijing, China. |
|
ZGANG Yong Xiang |
Flat 332, 5/F., 20 Xue Yueb Road, Haidian District, Beijing, China. |
|
WANG Zhijun |
Room 1201, 12/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. |
(As per registry dated 10-03-2012)
|
Name |
Address |
Co. No. |
|
W. T. (Secretaries) Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0042150 |
The subject was incorporated on 10th March, 1994 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: Oil
Service Stations Operator.
Lines: Retail
sale of gasoline, diesel oil, LPG and lubricating oil in Hong Kong service
stations.
Employees: 10. (Office staff) - Including affiliates
Commodities Imported: From various sources.
Market: Hong
Kong.
Terms/Sales: COD,
credit card, or in-house card (including Fleet card, VIP card, Fuel card &
Bonus card).
Terms/Buying: As
per contracted.
GOVERNMENT CONTRACTS AWARDED IN THE PAST:
|
Date |
GN No. |
Particulars |
Amount |
|
25-06-2004 |
GN4128 |
Sale of land—Inland Lot No. 8985 at 137 Tai Hang Road, Jardine’s
Lookout, Hong Kong. Sale of land—Inland Lot No. 8986 at 80 Pok Fu Lam Road,
Hong Kong. Sale of land—Tung Chung Town Lot No. 24 at Tung Chung New Town, Area
26, Lantau Islands Sale of land—Tseung Kwan O Town Lot No. 89 at Po Hong Road,
Tseung Kwan O, Sai Kung, New Territories Sale of land—Tsuen Wan Town Lot No. 408 at Yeung Uk Road, Tsuen Wan,
New Territories |
HK$501,000,000 |
Nominal Share Capital: HK$810,487,943.00 (Divided into 810,487,943
shares of HK$1.00 each)
Issued Share Capital: HK$810,487,943.00
Profit & Loss: Business is profitable.
Condition: Maintaining
in a normal and satisfactory manner.
Facilities: Making
active use of general banking facilities.
Payment:
So far so good.
Commercial Morality: Satisfactory.
Bankers:-
BNP Paribas, Hong Kong Branch.
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Standing:
Good.
Chinaoil (Hong Kong) Corporation Ltd. [Chinaoil HK] was incorporated in
Hong Kong on 10th March, 1994. It was
jointly owned by three China merchants known as Wang Lihua, holding 50%
interests; Liu Zhongqiu, holding 25%, and Ding Keying, also 25%. Now, their shares have been transferred to
China National United Oil Corporation [Chinaoil] which is a China-based firm.
Chinaoil was incorporated and registered at State Administration for
Industry and Commerce on 8th January, 1993, with a registered capital of
RMB1.271 billion Yuan. It is
jointly owned by China National Petroleum Corporation [CNPC] and Sinochem
Corporation. Managed and operated by
CNPC, its activities cover all the regions in the world. Chinaoil is licensed to import and export
crude oil and refined products, and licensed to conduct futures contract
transactions of crude oil and refined products both domestically and
internationally. It is also the entity
designated by CNPC to source crude oil and market refined products overseas for
refineries under CNPC, and procure refined products from international market
to meet domestic demand.
Backed by CNPC and following the principle of fully utilizing both
domestic and international markets and resources, ChinaOil has been developing
and expanding its business in importing and exporting crude oil, refined
products, petrochemicals, and natural gas, as well as in marine shipping. Its oil trading business has grown rapidly in
recent years with the efforts of extending the use of trading vehicles along
value chain and enriching trade techniques.
Chinaoil HK is also a member of the PetroChina Group. PetroChina Co. Ltd. [PetroChina] is the holding
company of the Group. PetroChina was
established on 5th November, 1999 as part of the restructuring of CNPC. PetroChina is one of the largest companies in
the PRC in terms of sales and is engaged in a broad range of activities related
to petroleum and natural gas. The
American Depositary Shares (ADSS) and H shares of PetroChina were both listed
on the New York Stock Exchange and the Stock Exchange of Hong Kong Limited in
April 2000.
In 2004, Chinaoil HK has opened its first two petrol filling stations in
Hong Kong and another three stations in 2005. All stations provide fuel sales and
convenient stores services and some of them even provide LPG filling service
and car wash service. All stations are
equipped with Point-of-Sales system, BackOffice system, HeadQuarter system and
DiT payment system. Chinaoil HK also
launches its in-house card program including Fleet card, VIP card, Fuel card
and Bonus card.
The business of Chinaoil HK is kept in a normal and satisfactory manner.
The president, Ms. Wang Lihua, 49, MBA, senior economist, graduated from
University of Petroleum (Beijing), with more than 20-year experience in China’s
petroleum and petrochemical industry.
Ms. Wang took the position of vice chief of plan department of CNPC from
1987 to 1996. From 1996, she acted as
Vice President of China National Oil Corporation Co. Ltd. and the President
from 1998. From 2002, she took the
office of president of PetroChina International Co. Ltd.
On the whole, in view of the background of Chinaoil HK, considered it
good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
|
|
1 |
Rs.86.04 |
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Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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.