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Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ORIGIN DIRECT ASIA LTD. |
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Registered Office : |
C/o Harris Secretaries Ltd. 7-8/F., Hong Kong Trade Centre, |
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Country : |
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Date of Incorporation : |
28.12.2007 |
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Com. Reg. No.: |
38798506 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler all kinds of fruits, wines, etc. |
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No. of Employees : |
Not Available |
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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 : |
No Operating Office in Hong Kong |
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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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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 |
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
ORIGIN DIRECT
ASIA LTD.
Address: c/o
Harris Secretaries Ltd.
7-8/F., Hong Kong Trade Centre,
161-167 Des Voeux Road Central,
Hong Kong.
(Formerly located at:
c/o Hongkong Huasheng Registrations Ltd.
Room 1701, 17/F., Henan Building,
90 Jaffe Road, Wanchai,
Hong Kong.)
PHONE: 2541 6632
FAX: 2541 9339
Managing Director: Mr. Jason Dean
Bosch
Incorporated on: 28th
December, 2007.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Registered Office:-
c/o Harris Secretaries Ltd.
7-8/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central,
Hong Kong.
Holding Company:-
Rat 40 Ltd., Gibraltar.
Associated Companies:-
African Pride Wines (Pty) Ltd., South Africa.
Afrifresh Group, South Africa.
Berfin (Pty) Ltd., South Africa.
Fruits du Sud (Pty) Ltd., South Africa.
Origin Direct Aisa Trading Co. Ltd., China.
Origin Fruit Direct B.V., Netherlands.
Sunpride (Cape) (Pty) Ltd., South Africa.
Shanghai Origin Direct Asia Ltd.
Room 1625, 16/F., Merchant Plaza South Wing, 258 Wei Hai Road, Shanghai,
China.
[Tel: +86 21 22157619 Fax: +86
21 22157881
E-mail:
jason@origindirectasia.com]
38798506
1199000
Managing Director: Mr. Jason Dean
Bosch
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 28-12-2011)
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Name |
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No. of shares |
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Rat 40 Ltd. Suite 5, Watergardens 4, Waterport, Gibraltar. |
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4,800 |
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Nmwa 45 Ltd. OMC Chambers, Wickhams Cay 1, Road Town, Tortola, British Virgin
Islands. |
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2,000 |
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Standard Chartered Private Equity (Mauritius) III Ltd. Manor House, 1/F., Corner of St George Street & Chazal Street,
Port Louis, Mauritius. |
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3,200 |
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–––––– |
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Total: |
10,000 ===== |
(As per registry dated 28-12-2011)
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Name (Nationality) |
Address |
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Jason Dean BOSCH |
Unit 605, Flatrock, 8 Buiten Street, Cape Town, South Africa. |
(As per registry dated 28-12-2011)
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Name |
Address |
Co. No. |
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Harris Secretaries Ltd. |
8/F., Hong Kong Trade Centre, 161-167 Des Road Central, Hong Kong. |
0031138 |
The subject was incorporated on 28th December, 2007 as a private limited
liability company under the Hong Kong Companies Ordinance.
Last time, the registered office of the subject was located at Room
1701, 17/F., Henan Building, 90 Jaffe Road, Wanchai, Hong Kong, moved to the
present address in December 2011. The
subject changed its registered address as it has changed its commercial service
provider since then.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of fruits, wines, etc.
Employees: Nil.
Commodities Imported: China, South Africa, Europe, etc.
Markets: Asia,
Europe, etc.
Terms/Sales:
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: Keeping a balance account in Hong Kong.
Condition: Business
is not active in Hong Kong.
Facilities: Making
fairly 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:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Origin Direct Asia
Ltd. is jointly owned by three firms registered in Gibraltar, the British
Virgin Islands and Mauritius respectively.
The director of the subject Mr. Jason Dean Bosch is a South Africa
passport holder. He does not have the
right to reside in Hong Kong permanently.
Currently, he seems to be in Shanghai, China.
The subject does not have its own operating office. Its registered office is in a commercial service
firm located at “7-8/F., Hong Kong Trade Centre, 161‑167 Des Voeux Road
Central, Hong Kong” known as “Harris Secretaries Ltd.” which is handling its
correspondences and documents. This firm
is also the corporate secretary of the subject.
The subject has no employees in Hong Kong. It is a fruit trader. It has had a main office in Shanghai, China
known as Shanghai Origin Direct Asia Ltd. [ODA]. Most of its fruits are sourced from South
Africa. It also trades in those fruits
sourced from China, Chile, the United States, and the other countries. The subject carries Grape, Orange, Mandarin,
Grapefruit, Lemon, etc.
ODA is a vertically integrated import and export company focused on the
direct supply of fresh produce from farm to customers throughout Asia.
The subject and ODA are the members of Afrifresh Group which is based in
South Africa.
Afrifresh Group has become one of the top 5 South African fruit
exporters, specialized in Grapes and Citrus.
From already 1998 the Group started investing in its own production and
today has numerous farms and pack houses, in excess of 20,000 hectares, all
over South Africa, ensuring a consistent supply of quality products.
Afrifresh started out in the industry as a leading importer/supplier of
fresh produce to South Africa’s major chain stores, including chains such as Pick’n
Pay, Woolworths and Checkers with a large percent of their fresh produce
requirements on a national scale. Based
in Johannesburg, the Group was well placed to source and supply for this market
and therefore able to develop a huge producer base to fulfil its supermarket
programs.
Now, the Group has already established a large client base through the
export of non-regulated lines and are supplying the leading importers in over
thirteen countries.
ODA is located at 258 Wei Hai Road, Shanghai, China. The contact person Mr. Jason Dean Bosch is
also the director of ODA.
The subject’s business in Hong Kong is not active. History in Hong Kong is over four years.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.66 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
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 |
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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.