|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
LU
QIN ( |
|
|
|
|
Registered Office : |
Room 803A, 8/F., Allied |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
27.09.1994 |
|
|
|
|
Com. Reg. No.: |
18519794 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of Iron and steel products, etc. |
|
|
|
|
No. of Employee: |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LU QIN
(HONG KONG) CO. LTD.
ADDRESS: Room 803A, 8/F., Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong
Kong.
PHONE: 3528 7348
Managing Director: Mr. Tuen Chi Pak, Patrick
Incorporated on: 27th September,
1994.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Importer and Exporter.
Employees:
5.
Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Head Office:-
Room 803A, 8/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong.
China Representative Office:-
Room 501, Unicom International Tower, 547 Tianmu
Road West, Shanghai 200070, China.
[ Tel: 86-21-6353 9588, 6353 9587, 6353 9586
Fax: 86-21-6353 9585]
Affiliated Companies:-
Midland Resources (China) Co. Ltd., China.
Midland Resources Holding Ltd., Guernsey.
Scholz Edelstahl
(Belgium) B.V.B.A., Belgium.
Shanghai Milan Trading Ltd., China.
Shanghai Ruishao International Trading Co. Ltd.,
China.
etc.
18519794
0492376
Managing Director: Mr. Tuen Chi Pak, Patrick
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
(As per registry dated 27-09-2011)
|
Name |
|
No. of shares |
|
TUEN Chi Pak, Patrick |
|
4,925,000 |
|
ZHANG Xu Rui |
|
75,000 |
|
|
|
–––––––– |
|
|
Total: |
5,000,000 ======= |
(As per registry dated 27-09-2011)
|
Name (Nationality) |
Address |
|
DUAN Zhi Li |
Room 105, No. 20, Lane 80, Yan Ji Road West, Shanghai, China. |
|
TUEN Chi Pak, Patrick |
Flat E, 6/F., Comfort Centre, 108 Old Main Street, Aberdeen, Hong Kong. |
|
WANG Yi |
Suite 501, No. 55, Lane 706, Lao Hu Min
Road, Shanghai 2002327, China. |
(As per registry dated 27-09-2011)
|
Name |
Address |
Co. No. |
|
Cheng & Cheng Corporate Services Ltd. |
Room 1201, 12/F., Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong. |
0307222 |
The subject was incorporated on 27th September, 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: Importer
and Exporter.
Lines: Iron
and steel products, etc.
Employees: 5.
Commodities Imported: India, Europe, Russia, China, etc.
Markets: Worldwide
countries.
Terms/Sales:
As per contracted.
Terms/Buying: L/C,
T/T, etc.
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge: (See
attachment)
Profit or Loss: Making a small profit every year.
Condition:
Keeping in an
active manner.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
DBS Bank (Hong Kong) Ltd.,
Hong Kong.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Fortis Bank NV/SA,
Hong Kong Branch.
United Overseas Bank Ltd., Hong Kong
Branch.
Standing:
Good.
Having issued 5 million ordinary shares of HK$1.00 each, Lu Qin (Hong Kong) Co. Ltd. is jointly owned by Patrick Tuen Chi Pak, holding 98.5% interests; and Mr. Zhang Xu Rui, holding 1.5%. The directors of the subject are Tuen Chi Pak, Duan Zhi Li and Wang Yi.
The latter two, both of whom holding China passports, are China
merchants and currently residing in Shanghai, China. Tuen Chi Pak is
residing in Hong Kong administering the business of the subject.
The subject is an iron and steel trader.
It is trading in stainless steel, forged steel round bars, alloy steel
round bars, hot rolled steel coils, cold rolled steel coils, galvanized steel
coils, hot dip galvanized [HDG] coils, hot rolled strips, cold rolled strips,
rolled wires, deformed bars, profiled bars, pipes and tubes, etc.
Tuen Chi Pak is an overseas-Chinese holding a
Canada passport. He has been trading in
iron and steel for over thirty years.
Currently he is the Vice President of Shanghai Federation of Industry
& Commerce Steel Chamber of Commerce [SCC].
He is also the President of Shanghai Federation of Industry &
Commerce International Chamber of Commerce, the Chief Representative of the Far
East Office of Milan Co. and the President of Shanghai Milan Trading Ltd.
[Shanghai Milan], China.
Currently, the subject and Scholz Edelstahl GmbH, a Germany-based firm, have set up a joint
venture known as Scholz Edelstahl
(Belgium) B.V.B.A. [Scholz Edelstahl
(Belgium)] which is a Belgium-based firm.
Scholz Edelstahl
(Belgium) is importing, exporting, wholesaling and retailing all kinds of steel
products, metallurgical products, raw materials, metallurgical machinery and
equipment. This firm is also engaged in
processing and distributing quality steel, alloyed steel and forging steel.
Scholz Edelstahl GmbH always
have more than 100,000 tons of high-quality steel ready for delivery. It produces steel at its own steel mill,
among others, and can offer its customers with a full range of services in
steel machining and finishing.
Scholz Edelstahl GmbH
has gradually expanded into a group of companies with numerous company
holdings. The Scholz
Edelstahl Group comprises the Scholz
Edelstahl GmbH in Essingen
and diverse subsidiaries in Germany and abroad.
Now, the total sales of the Group is over €400 million and employing
more than 850 workers at 14 locations.
The Group has had 20 direct company holdings as well as diverse indirect
company holdings belong to the Scholz Edelstahl Group.
Shanghai Milan is also a iron and steel trader. It has got suppliers in Ukraine, Russia,
Brazil, India, Japan, etc. In China,
Shanghai Milan also has established business ties with the following large iron
and steel companies:-
Baoshan Iron & Steel Co.
Benxi Iron & Steel Co.
Jiangsu Shagang Group
Nangang Group
Tangshan Iron & Steel Co.
etc.
Shanghai Milan is trying to source more iron and steel products from
China suppliers, especially from those in North China.
The subject has had close business ties with Shanghai Milan and Scholz Edelstahl (Belgium). It is likely that the fax number of Shanghai
Milan is 86‑21-6353 9585. The
contact person is Mr. Jia Zhang.
Duan Zhi Li and Wang
Yi are the representatives of the subject in Shanghai, China.
The business of the subject is active as the demand of iron and steel in
the international market has been increasing.
As the history of the subject in Hong Kong is over seventeen years and a
month, on the whole, consider it good for normal business engagements.
|
Date |
Particulars |
Amount |
|
08-04-2004 |
Instrument: Charge Over Deposits – CD 1 (02)
[Charge] Property: 1) By fixed Charge: all the Company’s rights in respect of the
following: (i) the sum of time deposit
US$2,000,000; (ii) all other sums in any currency at any time standing to the
credit of the Company or the credit of any other person for the Company’s
benefit whether alone or jointly with others on any deposit account with any
Bank Group Company including additions to or renewals or replacements of such
sum, and all interest thereon 2) By assignment: all Deposits held with any Bank Group
Company Mortgagee: Standard Chartered Bank,
Hong Kong Branch. [Business
transferred to Standard Chartered Bank (Hong Kong) Ltd.] |
To secure the payment or discharge of all moneys, obligations and
liabilities, whether actual or contingent at the date of the Charge or at any
time after the date thereof, due, owing or incurred by the Company to the
Bank |
|
03-05-2005 |
Instrument: Charge on Cash Deposits Property: First fixed Charge on Cash Deposit (Account No. 801357) dated
03-05-2005 to Fortis Bank NV/SA, Hong Kong
Branch of the deposit and the debt represented there Mortgagee: Fortis Bank
NV/SA, Hong Kong Branch. |
To secure all obligations and liabilities |
|
27-06-2008 |
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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.