MIRA INFORM REPORT

 

 

Report Date :

10.11.2012

 

IDENTIFICATION DETAILS

 

Name :

HONG  KONG  BAILIAO  FOOD  LTD.

 

 

Registered Office :

c/o Bestern International Industries Ltd.

Room A, 6/F., Mass Resources Development Building, 12 Humphreys Avenue, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

12.07.2011

 

 

Com. Reg. No.:

58651637

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

subject is trading in wild American ginseng which is sourced directly from the United States

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Under Deregistration

Payment Behaviour :

---

Litigation :

---

 

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

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

Company name

 

HONG  KONG  BAILIAO  FOOD  LTD.

 

 

Company ADDRESS

 

Registered Office:-

c/o Bestern International Industries Ltd.

Room A, 6/F., Mass Resources Development Building, 12 Humphreys Avenue, Tsimshatsui, Kowloon, Hong Kong.

[Tel:      2316 2568    Fax:           2316 2808

E-mail:  b23162528@gmail.com ]

 

Affiliated/Associated Company:-

Benison International (HK) Ltd., Hong Kong.  (Same address)

Shunde Xingtan Fengcheng Plastic Materials Co. Ltd., China.

 

 

BUSINESS REGISTRATION NUMBER

 

58651637

 

 

COMPANY FILE NUMBER

 

1630177

 

 

DATE OF INCORPORATION

 

12th July, 2011.

 

 

CAPITAL

 

Nominal Share Capital:   HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital:     HK$1.00

 

SHAREHOLDER  

(As per registry dated 12-07-2012)

 

Name

 

No. of share

HU Zhi Hui

 

1

=

 

DIRECTOR

(As per registry dated 12-07-2012)

 

Name

(Nationality)

 

Address

HU Zhi Hui

3 Xingtu Road, Xingtan Town, Shunde, Foshan City, Guangdong Province, China.

 

 

SECRETARY

(As per registry dated 12-07-2012)

 

Name

Address

Co. No.

Info Pacific Consultants Ltd.

Room 1208, 12/F., Ho King Commercial Centre, 2‑16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong.

1317433

 

 

GENERAL

 

Please be advised that Hong Kong Bailiao Food Ltd. is a private limited company which applied for deregistration in June 2012.  The deregistration procedures have been underway.

The subject does not have its own operating office.  Its operating office is in a Hong Kong-registered firm Bestern International Industries Ltd. [Bestern] located at “Room A, 6/F., Mass Resources Development Building, 12 Humphreys Avenue, Tsimshatsui, Kowloon, Hong Kong”.  Bestern seems to be the business partner of the subject.

Bestern has had an associated company Benison International (HK) Ltd. [Benison] located at the same address.

The subject’s registered address is located at Bestern’s old address which was at Room 1001, 10/F., Kaiseng Commercial Centre, 4-6 Hankow Road, Tsimshatsui, Kowloon, Hong Kong.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued just one ordinary share of HK$1.00 which is owned by Mr. Hu Zhi Hui who is a China merchant.  He is a China passport holder and does not have the right to reside in Hong Kong permanently.  He is also the only director of the subject.  Currently, he is residing in Xingtan Town, Shunde, Guangdong Province, China.

The subject is trading in wild American ginseng which is sourced directly from the United States.  Most of its products are distributed by its business partner Bestern.  Ginseng is exported to Taiwan, Macau and the other Asian countries and marketed in Southern China.

Besiding operating the subject, Hu Zhi Hui operates another firm in China known as Shunde Xingtan Fengcheng Plastic Materials Co. Ltd. [Fengcheng] which is a China-based firm.

Fengcheng is trading in all kinds of plastic materials such as PB-1, PA, PC, PETB, PBT, PET, PPS, PVC, ABS, ASA, EVA, GPPS, K(Q), LCP, PSU, EPP, TPE, TPR, TPE, TPEE, TPV, TPO, PP, CA, CAB, CAP, CN, PTFE, FEP, POM, HDPE, LDPE, LLDPE, PMP, PPO, HIPS, etc.

Fengcheng’s Hong Kong business partner is Benison.

The contact person of Benison and Bestern is Ms. Stella Choi.

Since the subject has been under deregistration, consider it not suitable for any business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.86.97

Euro

1

Rs.69.43

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.