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Report Date : |
14.05.2012 |
IDENTIFICATION DETAILS
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Name : |
REFMIN
INVESTMENT LTD. |
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Formerly Known As : |
REFMIN CHINA CO. LTD. |
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Registered Office : |
c/o SBC Corporate Services Ltd., 10/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Kowloon |
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Country : |
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Date of Incorporation : |
09.08.2006 |
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Com. Reg. No.: |
37038715 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Refractory materials, etc. |
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No. of Employees : |
06 (Including
associate) |
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 : |
Satisfactory |
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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) |
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Hong Kong |
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 |
ReFMIN INVESTMENT
LTD.
Room 420, 4/F., Block G, Kwai Shing Industrial Building, Phase 2, 42‑46 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong.
PHONE: 2511 2783, 3590 3959
FAX: 2507 3593
Managing Director: Mr. Zhang Lin Xuan
Incorporated on: 9th August, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: 6. (Including associate)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o SBC Corporate Services Ltd.
10/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.
Head Office:-
Room 420, 4/F., Block G, Kwai Shing Industrial Building, Phase 2, 42‑46 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong.
Associated
Companies:-
Arctic Omega Ltd., Hong Kong. (Same address)
Refmin America Corporation, USA.
Refmin International Co. Ltd.
Xin Tai Auto-Parts Co. Ltd., China.
37038715
1065936
Managing Director: Mr. Zhang Lin Xuan
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 09-08-2011)
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Name |
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No. of shares |
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WONG Ming Tak |
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10,000 ===== |
(As per registry
dated 07-11-2011)
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Name (Nationality) |
Address |
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ZHANG Lin Xuan |
111 Market Street, Hamilton, Ontario, L8R3K2, Canada. |
(As per registry
dated 01-09-2011)
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Name |
Address |
Co.
No. |
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SBC Corporate Services Ltd. |
Room B, 10/F., Tower A, Billion Centre, 1 Wang Kwok Road, Kowloon Bay, Kowloon, Hong Kong. |
0618863 |
The subject was incorporated on 9th August, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Refmin China Co. Ltd., name changed to the present style on 27th September, 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: Refractory materials, etc.
Employees: 6. (including associate)
Commodities Imported: Europe, China, etc.
Markets: China, other Asian countries, Europe, North & South America, Australia, Middle East, etc.
Terms/Sales: L/C, T/T or as per contracted.
Terms/Buying: Various terms.
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: Making a small profit every year.
Condition: Keeping in a satisfactory manner.
Facilities: Making rather 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: Normal.
Having issued 10,000 ordinary shares of HK$1.00 each, Refmin Investment Ltd. is wholly owned by Mr. Wong Ming Tak who is a Hong Kong merchant. The only director of the subject Mr. Zhang Lin Xuan is a China ID Card holder and does not have the right to reside in Hong Kong permanently. Most of the time he is residing in Canada.
The subject shares the same operating address with its associated company Arctic Omega Ltd. [Arctic Omega] which is also a Hong Kong-registered firm.
The subject has had an associated company Refmin China Co. Ltd. [Refmin China] which is operated by Mr. Jack Gao Jie who is the old shareholder of the subject. The head office of Refmin China is in Nanjing City, Jiangsu Province, China.
The subject is one of the members of the Refmin Group. It is trading in the products of Refmin China.
Refmin China is trading in refractory raw materials such as fused magnetite 3, fused alumina, etc. The followings are some of the main products carried by Refmin China:
Flake Graphite, Bauxite, Chamotte, Light Weight Aggregates, Silicon Carbide, Brown Fused Alumina, White Fused Alumina, Sintered Mullite, Fused Mullite, Fused Zirconia Mullite, Sintered Spinel, Fusde Spinel, etc.
Refmin China’s products have been exported to the United States, the European Union, Australia, New Zealand, Turkey, Russia, India, Mexico, Brazil, Argentina, South Africa, Taiwan, the Middle East, etc. The annual sales turnover of Refmin China ranges from US$55 to 60 million. Making a small profit every year.
The subject also has made investments in an auto-parts manufacturing in China known as Xin Tai Auto-Parts Co. Ltd. The total investment of this firm was US$30 million.
The business of the subject is chiefly handled by Wong Ming Tak himself. History in Hong Kong is just over five years and nine months.
On the whole, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
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UK Pound |
1 |
Rs.86.42 |
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Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.